Part exchange value
Also known as: PX value, part-ex
Part exchange value is the amount a dealer offers against a customer's existing vehicle when they buy a new one — usually equal to or slightly below the trade valuation.
When a customer trades in their existing car against a new purchase, the dealer offers a "part exchange" (PX) value. This is essentially a trade purchase: the dealer expects to either re-sell the trade-in vehicle on their own forecourt at retail, or send it to auction for a quick turnaround.
A part-exchange offer is typically 0–10% below pure trade valuation, reflecting the additional cost the dealer takes on to handle the trade-in: reconditioning, MOT, valet, finance settlement on any outstanding agreement, and the holding cost while the vehicle re-sells.
Customers can use DealerPricing's trade valuation tool to know what a fair PX offer looks like before walking into a dealer. Knowing the underlying trade price typically gains £200–£800 in negotiation against the first offer.
Related terms
- Trade valuationA trade valuation is the price a UK motor trader would pay for a vehicle as trade stock — typically the wholesale or auction value rather than the retail (forecourt) asking price.
- HPI checkAn HPI check is a UK vehicle history report that confirms whether a car is stolen, has outstanding finance, has been written off, has mileage discrepancy, or has had its plate, colour or keeper details changed.