Your current car may contribute towards your next one. The useful starting figure is not simply its advertised value: it is the confirmed part-exchange value less any outstanding finance settlement.
Ask for a vehicle valuation and, if your car is financed, an up-to-date settlement figure from your existing provider. The value of any equity depends on both figures and can change before a transaction is completed.
If the settlement is higher than the valuation, there is a shortfall. Do not assume it can be added to a new agreement. Ask for the options and costs to be explained before deciding.
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Compare the complete transaction
Review the next car's cash price, the part-exchange allowance, settlement, cash deposit and any proposed finance separately. This makes it easier to understand what you are paying and what you are borrowing.
Tell us which vehicle interests you, your comfortable monthly budget and when you need the car. This helps us prepare a useful conversation about suitable options, without a credit search at this stage.
Real dealership stock
No credit check on this form
England, Scotland and Wales
Helpful answers
Part exchange and car finance: common questions
Can I part exchange a car with finance outstanding?
It may be possible, but the existing finance must be handled correctly. Obtain a settlement figure and confirm the process before agreeing to proceed.
Is an online estimate a final valuation?
Do not assume so. The dealership needs to confirm the valuation and any inspection conditions.
Can negative equity always be refinanced?
No. This depends on the proposed arrangement and lender criteria, and may not be available or appropriate.
Ask about a real car and a realistic monthly budget.
Choose a short callback enquiry or the full online application. Both reach our credit-broker team; neither form searches your credit file or gives a lender decision.
