Exchange and Mart recently launched a new, no-fees service that enables buyers to trade in their vehicle while their is still finance to be paid on it.
https://www.paymentswap.co.uk/ takes care of the vehicle trade-in as well as settling the existing finance contract and collecting the used car from the retailer. By entering information such as the current monthly payments and the registration of their vehicle, users are able to see what cars they can get for the same monthly price that they’re currently paying.
Commercial Director of Payment Swap, Sal Ciullo explains how the service works - “It’s a bit like changing a mobile phone at the end of a contract, the actual price of the phone is irrelevant. It’s the package and the monthly payment that counts, and that’s how Payment Swap works. The customer also has the choice of how many months they purchase over, and if they want to put a deposit down to reduce their payments further. Naturally, we summarise and display the entire deal before the customer proceeds.”
“Once the customer has decided which car to buy, they complete the entire transaction, end to end, online. When they collect from the supplying dealer, the order will have been completed and all the paperwork signed digitally, leaving the exchanging of keys as the only thing left to do.”