From Longman Dictionary of Contemporary Englishpart exchangeˌpart exˈchange noun [countable, uncountable] British EnglishBBT a way of buying a new car, television etc in which you give your old car, television etc as part of the payment SYN trade in American English The company takes the buyer’s property in part exchange.
Examples from the Corpus
part exchange• This may be important if credit finance for the new article purchased with a part exchange is declined by the financier.• Would consider part exchange for Status fretless bass.• Lars Andreasson in the southern town of Vaxjo is offering to accept Telia shares in part exchange for his goods.From Longman Business Dictionarypart-exchangeˌpart-exˈchange noun [countable, uncountable] British EnglishCOMMERCE a way of buying a new car, television etc in which you give the seller your old car etc as part of the payment, or a car etc given as part of the payment for something newSYNtrade-in AmEHe sold the car in part-exchange for another vehicle. —part-exchange verb [transitive]We have fully warranted used sports cars for sale that have been part-exchanged for other vehicles in our stock range. 