How can you maximise the value of your part-exchange vehicle?
If you already own a car or van, then you have a commodity that will help with the purchase of any new vehicle; this is known as a part-exchange and is a type of contract. In a part-exchange, instead of one party to the contract paying money and the other supplying goods, both parties supply goods, the first party supplying part money and part goods.
Car dealerships are the place where part-exchange deals are very common. You have a vehicle that has a value and you then pay the difference in value for your new vehicle.
So, how can you maximise the value of your part-exchange vehicle? As a retailer of new and used vehicles we have come up with a list of things that will help you when you are visiting a showroom and looking for a part-exchange.
When looking to part-exchange you should make sure that you have all the following documentation;
- The vehicle logbook (V5); this contains all the essential information about your car, such as the date it was first registered, its manufacturer, and the colour and engine size.
- If it is more than three years old, then a valid MOT certificate.
- Maintenance history; this is important so that if any service or repairs have been carried out that there is a record of this.
All new vehicles come with two keys. Make sure that you keep that spare key in a safe place and bring it with you. A vehicle has more value with two keys!
Make sure that you have given your vehicle a good clean inside and out; if the dealer can see that it is damage free then you may get a more favourable value for it!