When you trade in your old car to a dealer in exchange for them reducing the purchase price of your new car by the part exchange value.
Part Exchange (PX) is a car-related term commonly used in the UK that refers to the process of trading in your current vehicle as part of the payment for a new one.
When you buy a new car, you can offer your current vehicle to the dealership or seller as part of the deal.
The value of your current car is then deducted from the total cost of the new car, reducing the amount you need to pay.
This can be a convenient way to upgrade your vehicle without having to sell it privately.
The dealership or seller will assess the value of your car based on factors such as its make, model, age, condition, and mileage.
Part Exchange is a popular option for UK drivers who want to simplify the process of buying a new car while also getting rid of their old one.