part exchange

part exchange (plural part exchanges)

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 (third-person singular simple present part exchanges, present participle part exchanging, simple past and past participle part exchanged)

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