part exchange

noun, verb — 2 senses

part exchange

noun
1

A contract where one party pays money and supplies goods or services, and the other supplies goods or services in exchange.

  • When I bought my new car, it was a part exchange: I traded in my old car and paid some cash along with it.

part exchange

verb
1

To supply (an item of goods), along with money, in exchange for other goods or services.

Entry derived from the Wiktionary, under licence CC BY-SA 4.0 — list of authors.