What happens to a car when it’s traded in?

car-exchange

Part exchanging, or trading in, your old car for a new one is a good option for lots of people wanted to upgrade to a newer, lower mileage or more suitable vehicle.

If you’re looking to trade in your vehicle, the dealer will run something called an HPI check, which searches the vehicles’ history, including any remaining finance and whether there is a record of it being stolen. The HPI database has information on more than 40 million vehicles and some dealers, such as Ford approved Jennings Ford Direct, offer an HPI check free of charge if you buy a used car from them.

If everything’s in order the dealer will offer you a value on your car. Although many websites enable you to check the value of your used car, bear in mind, that a dealer may be offering you a price which takes into account the deals they’re offering on any new car you’re buying. You may get less than you would if you were selling your car privately, but you won’t have the hassle and stress of doing everything yourself.

The Money Advice Service gives free and impartial advice on money matters, and as a car may be one of your biggest financial investments it’s worth checking out what they have to say about part-exchanging, “The easiest way to sell your car is to trade it in when buying a new or used car from a dealer. Although you’ll probably get less for it than through a private sale, the plus side is that you’ll avoid the work and expense of advertising and dealing with enquiries, viewings and test drives. Your car’s part-exchange value will be a little more than the trade price you’d get if you sold your car outright to a dealer. However, the dealer may not be prepared to negotiate over a part-exchange price.”

Reputable dealers will also put your car through a series of checks on its condition and road worthiness before it goes anywhere near a new owner. Some of these vehicles, even those that don’t perform well in tests, could turn up at car auctions or on car supermarket websites.

Looking for used approved Fords (and other vehicles) traded in at Jennings Ford Direct will give you the peace of mind that any listed cars have gone through thorough checks and stringent safety checks before finding their way onto the forecourt or website.