When we use our car as part payment or as part exchange against the car we’re buying, we have to weigh up the positives as and negative aspects relating to such transaction.
The dealer offers you an amount for the car you’re trading in, which is then deducted from the retail price of the one you’re buying.
Even if you get a bit less for your car when you part exchange it (as opposed to selling it privately), it is fact that you can reduce the hassle and stress of finding your own, qualified buyer. When you part exchange your car, one of the greatest benefits is the fact that the dealer takes over your responsibility. The dealer has to scan the buyers and make sure they have the finances to purchase. Once you’ve part exchanged your car and taken possession of your new vehicle, the buyer is no longer your problem. You forget about advertising and marketing since the dealer will take care of those.
You deal with ONE party only, i.e. the dealer, and not any number of potential buyers who may want to haggle and force your price down; who may not turn up for viewings; who may not have the finances. You pass all hassles on to the dealer. He takes care of the paperwork, which most sellers know little about – of course you have to supply details relating to MOT, service records and proof of ownership.
The process is quite safe. You arrive at the dealership, conclude the deal on the new car, leave them the one you’re exchanging and drive home. The dealer now has to look for qualified buyers and sell the car. You no longer have to worry about personal risk such as meeting a stranger, someone you nothing about.
Once the dealer has taken possession of your trade-in, you no longer have to worry about possible complaints from buyers once they’ve bought your car. The dealer will now have to handle that.
You have very little control over the process when you part exchange your car at the time that you acquire a new one. You have to understand that the dealer has the upper hand as far as negotiating price goes, and that he will offer you less than what a private buyer would be willing to pay. Whatever deal he comes up with will have to allow him to make a profit.
It is an undeniable fact that when you enter into part exchange deals, the dealer – not you – finds himself in the best lane as far as negotiating terms are concerned: The dealer knows you are keen to buy another car and that you need to sell yours.
Also, the dealer has to find a buyer for your trade-in. He may have to advertise and employ a number of marketing strategies to find a buyer for your car – he may have to incur expenses and spend time in the process. Furthermore, he does have overheads to consider – he runs a business after all.
Most car owners do not have the time, or they lack the expertise and skills required to handle the sale of their vehicle, whether it’s a private sale or part exchange that’s involved. At The Car Buying Group we make it our business to assist our clients in every way possible to make the process hassle-free, risk-free and transparent. We act immediately and advise our customers of their best options; our team is available all the time to answer questions and put customers’ mind at ease as we understand that buying and selling cars can be stressful. We are here to offer a professional, fast and efficient service. Our track record speaks for itself.