Definition of trade-in
(Entry 1 of 2)
: an item of merchandise (such as an automobile or refrigerator) taken as payment or part payment for a purchase
trade in
verb
traded in; trading in; trades in
Definition of trade in (Entry 2 of 2)
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
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Merriam-Webster unabridged
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The first known use of trade-in was in 1891
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