Known in the US as Trade-In. A payment method, usually when purchasing a car, in which the buyer gives something they own, for example a car, as part payment to the vendor for the more e [..]

Definition noun

You can exchange your existing car as part payment for your new car. Please see our dedicated section on part exchange and selling your car.

Part exchange (or part ex) is when you use your existing car as part payment for your new one – your old car’s taken off your hands, and your new car will cost you less. You can get an instant part ex [..]

This is an agreement worked out between you and a car dealership in which they take your old car in exchange for a reduction in price on a new vehicle.

Part exchange is the term used when you put your own car down as a payment towards a new car that you want to buy. Back to top