Part Exchange Your Car Today!
Part exchanging your current car is a fast, straightforward way to lower your monthly repayments and cover the deposit on your next vehicle. Whether you own your car outright or still have outstanding finance, we make the process completely hassle-free.
Why Part Exchange with Us?
- No Deposit Required: Use your old car’s trade-in value as your deposit.
- Outstanding Finance Handled: We deal directly with your previous lender to settle existing balances.
- No Impact on Credit Score: Applying with us uses a soft check only; it won’t affect your score.
- Any FCA-Approved Dealer: Choose your next car from any verified dealership across the UK.
How Does a Car Part Exchange Work?
A car part exchange (also called trading in) lets you use the current market value of your existing vehicle as partial payment towards a new or used car.
Here is how the 3-step process works with Refused Car Finance:
Apply Online in Minutes:
Fill in our quick online form to get an initial finance quote. This is a soft credit check, meaning it won’t impact your credit profile.
Get Your Valuation:
We work with our network of trusted UK dealerships to secure a fair valuation for your current car.
Drive Away:
We apply the part-exchange value directly to your new finance deal as a deposit. Simply drive your old car to the dealer and swap the keys for your new one!
Can You Part Exchange a Car with Outstanding Finance?
Yes, you can part exchange a car even if you still owe money on your current finance agreement.
To trade in a financed vehicle, request an early settlement figure from your current lender.
- Positive Equity: If your car is worth more than the settlement figure, you can use the remaining balance as a deposit towards your new car finance agreement.
- Negative Equity: If your car is worth less than the remaining balance, you can often roll the difference into your new car finance agreement, subject to approval.
Find Out More: Car Depreciation – What Is It?
Frequently Asked Questions
What is car part exchange?
Car part exchange is a process where you trade in your existing vehicle to a dealership, using its valuation amount to offset the purchase price or deposit of another car.
Can I part exchange my car if I have bad credit?
Yes. As specialist car finance brokers, we work with a wide panel of lenders who specialise in bad credit car finance. You can use a car part exchange to reduce the total amount you need to borrow, making your monthly repayments even more affordable.
What documents do I need to part exchange my car?
To complete a car part exchange, you will typically need:
- The V5C logbook (registered in your name)
- Service history records and MOT certificates
- Any spare keys, handbook, and locking wheel nut key
- A current settlement quote (if the vehicle has outstanding finance)
- Proof of ID and driving licence
What factors affect my car’s part exchange value?
Your car’s valuation depends on several key criteria:
- Age and Mileage: Lower mileage typically results in a higher trade-in value.
- Overall Condition: Bodywork, interior wear, and mechanical condition.
- Service History: Full dealer or garage service history increases value.
- Current Market Demand: Desirability and popularity of the specific make and model.
Why Choose Refused Car Finance?
We have a network of dealerships throughout the UK who would be happy to provide a valuation of your current car if you were interested in part exchanging your car. We can offer our customers a range of benefits:
- No deposit needed.
- 5* reviews.
- Huge car choice.
- Decisions within minutes.
- A huge range of trusted lenders.
- Affordable finance packages.
- Monthly payments to suit your budget.
- Your own car finance expert to help.
Ready To Get Started?
Complete our quick application form today to get started! It won’t harm your credit score, and one of our friendly team will be in touch very soon.