Definition

Noun: 1. An item given as partial payment: A used item (such as a car, appliance, or electronic device) that a customer offers to a seller when purchasing a new item of the same type. The value of the used item is deducted from the price of the new one.

Usage

The term "trade-in" is used primarily in commercial and retail contexts. It refers to the transaction where an old item is exchanged to reduce the cost of a new purchase. - It functions as a countable noun (e.g., a trade-in, several trade-ins). - It is often used with verbs like offer, accept, use as, or have. - It commonly appears in phrases like trade-in value (the estimated monetary worth of the used item) and trade-in deal or offer.

Examples

• Noun:
  • The dealership offered me a generous trade-in for my old car.
  • When buying the new phone, I used my previous model as a trade-in.
  • What is the trade-in value of this refrigerator?

Advanced Usage

• "to be eligible as a trade-in": to meet the conditions required to be accepted as partial payment.
  • Your laptop might be eligible as a trade-in if it's less than three years old.
• "to negotiate the trade-in": to discuss and try to agree on the value of the used item.
  • We spent an hour negotiating the trade-in before finalizing the car price.

Variants and Related Words

• Trade (verb): To exchange one thing for another. In commerce, it can mean to give (an old item) as part of the payment for a new one.
  • He decided to trade his old truck for a newer model.
• Trade-in allowance: Another term for the trade-in value offered by the seller.
  • The trade-in allowance was lower than I had hoped.

Synonyms

• Part exchange (chiefly British English): The system or an instance of giving a used item as part payment for a new one.
• Allowance: The amount granted for the used item.

Related Phrases

• Trade up: To exchange something for a more expensive or advanced model, often using a trade-in.
  • Many customers trade up to the latest model every year.
• Trade-in program: An organized scheme offered by a company to accept used items from customers.
  • The manufacturer has a great trade-in program for old devices.

Noun

1. an item of property that is given in part payment for a new one