Car owners looking to upgrade to something newer may be put off by the amount of research and time it takes to find the right bargain.
Many buyers turn to online shopping to make the experience more convenient and now, powered by Exchange and Mart, offers motorists a new way to trade in their car in the middle of their dealer finance or PCP agreement.
“There’s a lot to think about when upgrading a car and it can be overwhelming,” explains Sal Ciullo, Commercial Director of Payment Swap. “For instance, one size doesn’t fit all, when it comes to buying a car, as it’s not just about the make, model, body style, fuel type or colour that are the main motives for making the purchase, but the actual way to fund the purchase and this now takes precedence, especially with the younger market.
“Considering that as many as 90% of all car purchases in the UK are financed in one way or another, affordability is one of the first things you’ll need to understand before choosing your dream motor. This means buying with your head and not your heart before beginning your journey; this is key to a sensible deal and for most people this must include their part exchange after any outstanding finance has been settled off. Fortunately, Payment Swap does all the work for motorists, offering them a list of deals to match their current repayments with just three pieces of information.”
With Payment Swap, motorists simply enter the existing car’s monthly payment, its registration number and their postcode. It uses this information to value the car as a part exchange and work out its existing finance settlement. Then, using the car’s equity as a deposit, Payment Swap displays over 18,000 cars from a range of authorised main dealers and leading car supermarkets for the user to choose from.
Each one of the hundreds of dealers and partners involved with Payment Swap have empowered the customer to search and buy from their tablet, phone or PC and all by entering their current monthly payment. This takes into account the part exchange’s equity, which means for the first time, motorists can actually do their own deal from start to finish knowing what they can afford.
The self-deal website does not need to know any personal information at this stage, allowing users to search anonymously to avoid emails and phone calls. Motorists can move their monthly payment up or down and shorten the period they pay over, offering added flexibility. The Payment Swap website also caters for people who have either already paid off their old car or, don’t have a car to trade in.
Sal Ciullo concludes, “Using paymentswap means car buyers don’t have to do any multi-tasking whatsoever. Powered by today’s biggest names in car retail, this one-stop-shop website works everything out for motorists and all in under a minute. The best thing is, motorists know that all the cars on the list are ones they can afford, as they match their current monthly payments. And because it’s all online, customers can shop at their convenience and create a deal to suit their budget with no obligation to buy. It’s the smart car buyer’s way to shop online.”