What part exchange gives you
The appeal of part exchange is simplicity. You drive in with the old car and drive out in the new one, with one set of paperwork and no gap between cars. If the dealer is settling finance on the old car as part of a new agreement, that can be handled in the same deal.
For a busy household with one car, that convenience has real value, and it is worth putting a number on it for yourself.
Why the part exchange figure can be hard to read
A part exchange figure is rarely shown on its own. It sits inside a deal that also includes the price of the new car, any discount, any finance offer and sometimes extras. A generous looking part exchange can be balanced by a smaller discount, and the other way round.
The dealer also has to resell your car, or pass it on to the trade, and that cost is built into what they offer. None of this is unfair. It just means the headline figure is not the whole story.
Ask the dealer for two numbers: the price of the new car with no part exchange, and the part exchange value on its own. Then you can compare like with like.
What selling direct gives you
Selling direct separates the two decisions. You know what your Toyota is worth on its own, in writing, and you can then negotiate the new car as a cash buyer. You can also take your time, compare offers, and sell when it suits you rather than on the day you pick up the new car.
Ask for a firm offer at /vehicle-valuation. A real valuer prices the car by hand, and the offer holds for a set period, so you can use it as a benchmark while you talk to the dealer.
Finance on the old car
If there is finance on your Toyota, either route works. In part exchange the dealer settles it as part of the new deal. Selling direct, the lender is settled as part of the sale and any balance is paid to you. If you owe more than the car is worth, the gap has to be paid either way, and in a part exchange it is sometimes rolled into the new finance, which is worth understanding before you agree. More on this in /blog/selling-a-toyota-with-outstanding-finance.
Timing and the gap between cars
The one thing selling direct cannot always do is a same moment swap. If you need a car every day, plan the timing. You keep driving your vehicle until collection, and collection can usually be booked for a day that suits you, so the gap between cars can be kept short or avoided.
Questions to ask yourself
A few questions usually make the choice obvious.
- Do I know what my car is worth on its own, in writing?
- Is the dealer's part exchange shown separately from the discount?
- How much is the convenience of one transaction worth to me?
- Is there finance, and is any negative equity being rolled into a new agreement?
- Can I time a direct sale around the new car arriving?
If you sell direct to us
We call ahead before we collect, you can join the test drive, and we handle the DVLA paperwork. Paid in full by bank transfer before your vehicle leaves. The price holds if the vehicle is as described. Any change is explained first, and you can say no.
The steps are on /how-it-works, and there is more on the comparison at /beat-the-forecourt.