Definitions for "Trade-in Value"
The value you may be offered by a dealer when trading in your used vehicle. See Kelley Blue Book.
Trade-in value is the worth of the vehicle that the buyer is using as a portion of the purchase.
A dealer assigns a trade-in value to an auto, boat or other vehicle that a buyer wishes to exchange for another vehicle. Trade-in value is subtracted from the purchase price of the vehicle. Trade-in value is often based on the published book value of the vehicle. As a general rule, a vehicle with less millege and use has a greater trade-in value.