If you are thinking of buying a newer used van, or a brand new van from any dealer, the option of part exchanging is a popular one. Exchanging your old van for a value towards your new van is often the easiest and quickest way to get rid of your old van, but not necessarily the most economical one. Indeed, you often won’t get the true value of the van when you are trading it in. Compared to the value you could achieve selling your van privately, the dealer is unlikely to give as much as this and will need to make a profit for themselves. However there is an opportunity to make part exchanging work for you and we have given some top tips in how to get the best from the deal.
The biggest advantage of trading in your old van is that you won’t need to go to all the hassle of selling it privately. This would involve advertising the car, dealing with interested parties, and dealing with the money aspect of the sale yourselves. You may need to put up with time wasters and those you are not actually interested in a purchase but will take up your time.Traceability on both parties must also be confirmed and all the correct paper work be filled in with no help from an expert. Ensuring the van is in good condition is often a lot more important when selling the van privately, as a private buyer is more likely to be put off from the sale if there is an issue which will need solving, such as a repair. If you do go down this route, then there are many good websites to help you advertise your van for a very reasonable price, some even offering their services for free.
As mentioned already, the biggest draw back to trading in or part exchanging id that it is likely to lose you money. Trade in prices are always lower than a private sale price. The dealer will need to make a profit from your old van, either by selling it on in their showroom or forecourt or else placing it in an auction where their profit is no guaranteed. So it’s really a choice you need to decide on- whether the lower hassle or the money means more to you. The time involved is also an aspect to selling privately and often if you are in a rush to sell your old van, the trading option is a more desirable method.
If you are thinking of a part exchange then firstly, you must be the legal owner of the van and, as with a private sale, it’s important to check all the paperwork you have for the vehicle to ensure it’s all above board. These documents include the service history book and any receipts you have for the vehicle, all the MOT history and the V5C. Your drivers license may also be needed if you are trading in as this may be needed when you are test driving the vans on sale.
A dealer will give you a price based a number of factors, including how hard a bargain your “driving” to, how much the dealer wants to sell the new van in question to you, and the condition of your old van.
Checking the vehicle for damage and faults is an important aspect for any dealer when making their decision on the price offered to you. Ensure that the vehicle is as good as can be, checking that the tyres are in good condition and that the vehicle is clean, both inside and out and smelling fresh too. Usually you will get a better price for your old van if you are interested in a brand new vehicle. It is also up to you to haggle with the dealer and ensure you try to get as much as you can for your pocket.
Dealerships will always inspect your car; their technicians are looking for faults. The salesman needs to know how much they have to spend on your car; this will then reflect on how much they will offer you.
There is one more option that you may consider and that is selling to a website that will accept your car for cash. This is only really an option if you are not trading in and need cash urgently as the prices offered are typically very low.