trade-in
1 of 2noun
ˈtrād-ˌin 
: an item of merchandise (such as an automobile or refrigerator) taken as payment or part payment for a purchase
trade in
2 of 2verb
traded in; trading in; trades in
transitive verb
1
: to turn in as payment or part payment for a purchase or bill
trade the old car in on a new one
2
: exchange sense 2
Word History
First Known Use
Noun
1915, in the meaning defined above
Verb
1891, in the meaning defined at sense 1