Why part-exchanging could be the way to get the best deal

Why part-exchanging could be the way to get the best deal

To secure the best deal, car buyers should look to part-exchange their current car when buying a new or used vehicle.

More than 4.5 million used car buyers (57%) part-exchanged their vehicle last year and the trend is highly likely to continue as dealerships look to maintain their stock levels with good quality cars, a report by the CarGurus motoring website has concluded.

Based on the views of 400 car dealers, its One Voice report into the used car market indicates that the decline in new car sales – due to factors like Brexit and the uncertainty around diesel – has put more focus on second-hand sales.

Consequently, dealerships’ demand for stock is increasing and, as a result, many dealers say they will prioritise customers with a part-exchange vehicle. 

“In the past,” CarGurus’ Editor Chris Knapman said, “it tended to be accepted that cash buyers were in a stronger position when bargaining over a purchase.  However, with dealers finding it increasingly challenging to secure enough high quality stock, they are often willing to offer a better deal where a part-exchange is included than you’d be able to get by using other routes. 

“Our advice is to always discuss with the dealer all the options available to you when buying a vehicle, to ensure you secure the best possible deal.”