How does part-exchange work?
Part-exchanging a car involves swapping your car for another, more expensive vehicle. You then pay the difference, which will either involve organising some form of financing or just paying in cash or by bank transfer. Part exchange has the benefit that you can avoid the hassle of having to sell your existing car.
You must own the car outright if you want to part-exchange it, though: there can’t be any outstanding finance on it.