Part-exchanging a car that still has finance on it.

Yes. It’s completely normal — most cars offered to us in part-exchange still have finance running. The finance doesn’t stop you changing car; it just has to be settled as part of the deal.

Your finance company will give you (or us, with your permission) a settlement figure — the exact amount that clears the agreement today. It’s usually valid for around ten days.

When you part-exchange, the settlement is paid to the finance company out of the deal, so the old agreement is closed properly. You never juggle two finance agreements on two cars.

If your car is worth more than the settlement figure, the difference is yours — it works exactly like a deposit on the next car.

If the settlement is more than the car is worth, that’s negative equity. It doesn’t end the deal: the shortfall has to be covered, either directly or, subject to the lender agreeing, within the new agreement. What matters is that you see the numbers side by side before you decide anything.

The car’s registration and mileage get you a valuation. For the part-exchange itself: your settlement figure (or the finance company’s details so we can request it), the V5C, service history and both keys if you have them.

One thing we do differently, and put in writing: the valuation we give you stands if the car arrives matching its description. No walking the price back at the door.