What term describes the amount of money received for trading in an automobile?

The term that describes the amount of money received for trading in an automobile is "trade in." This term specifically refers to the process where a consumer brings in their existing vehicle to a dealership as part of a transaction for purchasing another vehicle. The dealership assesses the value of the traded-in car and offers a monetary amount that can be deducted from the price of the new vehicle. This practice is common as it allows buyers to lower the overall cost of their next purchase while facilitating the sale for the dealership.

In contrast, "trade-off" refers to balancing between two conflicting aspects when making a decision, which does not specifically apply to the transaction of trading in a vehicle. "Value retention" describes how well an asset holds its value over time, but it does not directly connect to the act of trading in a vehicle. "Depreciation" refers to the reduction in value that occurs over time due to wear and tear or other factors, making it relevant to the overall value of the car but not to the direct monetary exchange in a trade-in scenario.