part exchange
noun [ C or U ]
COMMERCE UK (also part-exchange ) ukusa way of buying a new object by giving your old one as part of the payment for it:
in part exchange (for sth) The store took my old lap-top computer in part exchange for a later model.
Over 50% of house sales in the area involved part exchange deals.
part exchange
verb [ I or T ]
COMMERCE (also part-exchange ) ukusto buy a new object by giving your old one as part of the payment for it:
We part-exchanged our old car for a newer model.
Compare
trade-in