The idea of part exchanging your car is very attractive. You drop off your old vehicle at the garage and a few minutes later drive off the forecourt in a new set of wheels. It’s quick, stress-free and means you avoid putting your car up for sale and dealing with a stream of potential buyers knocking on your door.

Put simply, you find a car you like at a dealership – and receive a discount on the price in exchange for part exchanging your existing vehicle. The amount of ‘discount’ will obviously depend on what you are trading in, the car you are looking to buy, and the profit margin of the dealership.

When it works well, a part exchange can benefit all parties. The dealer gets shot of a car out of their showroom – and the buyer gets a new car pretty much straight away.

The main positive of selling your car to a dealer is saving time and hassle because you don’t need to go through the rigmarole of finding a buyer. This can be a painful process. As well as making sure your car is immaculate and you’ve taken care of any necessary repairs, you’ll then need to advertise it.

You’ll have to deal with inquiries over the phone – or, increasingly, via social media – and then have them turning up at your door to inspect the car. At this point, you’ve still got to face the haggling! Many of us find such conversations very awkward and will jump at the chance to trade in our car instead.