What is part exchange (PX)?

Part-exchange (PX) is when you use your old car's value towards the cost of a new car. The car dealer you're buying from will give you a part-exchange value – how much they'll give you for your old car – and then this figure is taken off the total cost of the new deal. You might get a little bit more money selling privately than when part-exchanging, but many buyers find it much easier to part-ex their old car – you don't have the hassle of trying to sell your old car privately, and you can leave your old car at the dealership when you go to pick up the new one, so you won't be left without a car. You can part-exchange a car whether you're buying the new car outright or on finance.