7. PART EXCHANGE
7.1 When purchasing a Vehicle you may wish to sell your existing vehicle (“Existing Vehicle”) to a Retailer. If you choose to sell your Existing Vehicle to a Retailer, then you can select to:
7.1.1 apply some or all of the total amount paid by the Retailer for your Existing Vehicle less any sums owed to third parties and other deductions and costs (“Net Sale Proceeds”) towards the Total Price of the Vehicle (if you are a Cash Customer) or the deposit required by HFE under your Finance Agreement (if you are a Finance Customer); or
7.1.2 receive some or all of the Net Sale Proceeds into your bank account by way of a bank transfer from the Retailer.
7.2 The sale and purchase of an Existing Vehicle is handled by the Retailer, and you may be required to enter into a separate contract with the Retailer regarding the sale and purchase which will be subject to their terms and conditions. Honda and HFE are in no way responsible or liable to you or any third party in connection with the sale or purchase of an Existing Vehicle.
7.3 You may use the valuation tool on Honda’s website or at a Retailer which will give an indicative value of your Existing Vehicle. All valuations are provided by British Car Auctions Limited (“BCA”) and use of this valuation service is at all times subject to BCA’s Terms of Use for ucheck and ConsumerPro. By using the valuation service you accept and agree to BCA’s Terms of Use and the following conditions:
7.3.1 Honda is under no circumstances responsible for any valuation that you may receive and there is no guarantee that you will subsequently be able to sell or part exchange your Existing Vehicle;
7.3.2 each valuation is an estimate provided for guidance purposes only and a full appraisal of your Existing Vehicle will be undertaken by the Retailer and, where necessary, by BCA where factors such as age, condition, number of previous owners, mileage and servicing history may have an impact on the ultimate valuation you receive for your Existing Vehicle;
7.3.3 all responses to any questions raised regarding your Existing Vehicle shall be accurate (where they state facts), made with genuine belief (where they state opinions), and comply with any applicable laws;
7.3.4 valuation figures do not include any outstanding finance settlements and other reasonable deductions which may need to be applied prior to sale or part exchange in order to finalise the total amount of Net Sale Proceeds; and
7.3.5 each valuation will expire after 30 days from the date it was issued.
7.4 You will be required to:
7.4.1 provide certain information and paperwork relating to your Existing Vehicle to the Retailer (including confirmation relating to any outstanding finance on your Existing Vehicle); and
7.4.2 ensure that the condition, status and other characteristics of your Existing Vehicle have not materially changed since you obtained your valuation or confirmation of the Net Sale Proceeds.
7.5 Where you fail to provide such information and paperwork or where the condition, status or other characteristics of your Existing Vehicle are not as previously represented (for example because the Existing Vehicle has become damaged), this may result in the Net Sale Proceeds being reduced. In such cases, the Retailer, Honda or HFE shall be entitled to request further sums from you to cover all of the amounts payable in connection with your Order.
7.6 Please refer to your contract with the Retailer which covers the sale and purchase of your Existing Vehicle for further information.