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trade-in

[treyd-in]
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noun
  1. goods given in whole or, usually, part payment of a purchase: We used our old car as a trade-in for the new one.
  2. a business transaction involving a trade-in.
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adjective
  1. of or relating to the valuation of goods used in a trade-in: trade-in price.
  2. of or relating to such a business transaction: trade-in terms.
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Origin of trade-in

First recorded in 1920–25; noun, adj. use of verb phrase trade in
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

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British Dictionary definitions for trade-in

trade-in

noun
    1. a used article given in part payment for the purchase of a new article
    2. a transaction involving such part payment
    3. the valuation put on the article traded in
    4. (as modifier)a trade-in dealer
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verb trade in
  1. (tr, adverb) to give (a used article) as part payment for the purchase of a new article
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012