What you need to know about trading in a car

Trading in can be a convenient way of disposing of your car, as well as helping to fund the purchase of a new one. But it may not be the most financially sound method, as the dealer will be looking to take your trade-in for as little as you will accept and resell it at a profit. The advantage of trading in your old car is that you don't have to worry about the formalities such as getting the safety certificate, paying for repairs and doing the paperwork as the dealer will look after all of this.

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Things to note

The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.