When purchasing any vehicle, value for money and getting the best deal possible is at the forefront of everyone’s mind. Part-exchanging is no different.
When using your vehicle as part-exchange against a new van, the key thing to remember is that the vehicle will eventually be sold on to a new owner. This means that the more your vehicle is worth on the open market, the more you’re going to get for it at part-exchange.
To get the best deal possible, there are a few things to consider during the lifetime of your current car or van. From its condition and scarcity, through to ensuring you have the correct paperwork and service history, paying close attention to how you treat your vehicle pays off in the long-run.
In this guide, we look at just some of the ways to ensure that your vehicle is worth as much as possible when the day comes for it to be part-exchanged.
By choosing a popular paint colour, you will be offered more at part-exchange. Certain colours are more desirable and therefore are easier for dealerships to sell. This means that if the vehicle you are part-exchanging is of a popular colour, it will be worth more money.
Desirable colours vary – and are often driven by trend – but safe colours such as white will always be easier to resell. Consider this when purchasing any new vehicle to protect its long-term value.
Scarcity and Rarity
If the vehicle you are part-exchanging is rare or difficult to come by, you will be offered a better price. This is because scarcity creates value, and therefore a rare van can command a higher price when sold to its new owner. The same rule can be applied to limited-edition models.
If you’re buying a van that you will one day part-exchange, ensure that it is going to be fit for purpose. Knowing the job it will be doing, the cargo it’ll be required to carry and just how hard it’ll work is vital.
Overloading your van will lead to needless damage, which will, in turn, push down the price you’re offered when you come to part-exchange. Buy the right van for the job.
Features such as a built in SatNav, leather seats and rear parking sensors will increase the value of your van at part-exchange. Although optional extras cost more at the time of purchase, these features often hold their value and translate directly into a higher offer when sold on.
Keeping your van clean and presentable is about more than just looking good on the roads. Regularly washing the exterior of your vehicle helps prevent rusting and scratches, both of which damage the price you’re offered at part-exchange. The same principle applies to the interior of your vehicle – any stains or marks will be picked up by the dealer and will push down the price you’re offered.
It’s a wise idea to have your vehicle valeted before presenting it for part-exchange – this is because a dealer will deduct the cost of cleaning and repairs from the price you’re offered, at whatever fee they feel appropriate.
Staying on top of your services is vital. Have a service performed once a year, or once every 12,000 miles, by an approved dealer. Going to an approved dealer gives you the reassurance that your warranty will remain valid, but also ensures that any replacement parts are approved. This is looked upon favourably during the part-exchange process, helping to protect the value of your vehicle. Keep a full service history.
As well as the countless other reasons for keeping everything under the hood topped up, ensuring that your vehicle has the correct fuel, oil and water are essential in getting the best part-exchange possible. Without just one of these vital components, you’ll be causing unnecessary damage to your engine, reducing its overall value.
Ensuring that all four tyres are at the correct pressure is also important. The wrong pressure in just one tyre is enough to cause damage to your vehicle, with the cost of any new tyres being deducted from the part-exchange price.
Throughout the lifetime of your vehicle, keep all paperwork and records safe. When handing over your vehicle at part-exchange, you’ll need to provide all of the paperwork you have.
Should you be unable to supply the dealer with a handbook, the service history, or the vehicle’s MOT Certificate, the price you are offered will drop dramatically. Keeping all records in one place is a guaranteed way to ensure that nothing goes missing before your part-exchange.
When handing over your vehicle at part-exchange, you must give the dealer all of the accessories. This means that all sets of keys, detachable components, mirrors and belt buckles should be present.
It goes without saying that everything that came with your vehicle should stay with your vehicle, and anything missing will cause the price you’re offered to drop.
The mileage of your vehicle is one of the guiding factors that affect its value. The higher the mileage, the lower the price you’ll be offered at part-exchange. This means that keeping mileage to a minimum during the lifetime of your vehicle will protect its overall value, getting you a better deal when you go to sell.
The easiest way to ensure that your vehicle realises its true potential at part-exchange is to look after it during its lifetime.
From easy-to-avoid bumps and scratches through to taking good care of its inner workings, your vehicle’s value will be higher if it has been taken care of. When purchasing a vehicle that you’ll eventually part-exchange, consider just how resellable it is, with factors such as colour in mind.
Look after your vehicle and your vehicle will look after its value.