Definition, Meaning & Synonyms
trade-in
noun
/ˈtreɪd.ɪn/
Definition
A trade-in is an agreement in which a person exchanges an old item, usually a product or vehicle, to receive a discount on a new purchase.
Examples
- She decided to do a trade-in for her old car when buying a new one.
- The store offers a trade-in program for used electronics.
- He received a great deal on his new phone by opting for a trade-in of his older model.
Meaning
The act of trading something previously owned as part of the payment for a new item.
Synonyms
- exchange
- swap
- offset
- retrade
