trade-in allowance

Definition

A reduction in the price of a new item when an old item is given as part of the deal.

Use trade-in allowance in a sentence

I opted to sell my vehicle independently as the trade-in allowance provided for by the dealer was far below market value.

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As part of the advertising campaign of the local car company, they decided to increase the trade-in allowance for buyers who traded in their used vehicles toward new ones at the dealership.

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Upon receiving his tax refund, Jeff was excited to buy a new car. He felt certain that with his Trade-In Allowance and tax refund that he would not have to come out of pocket for his new vehicle.

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