Consumer trade-in is a process where individuals exchange their used products, such as electronics or vehicles, for credit towards a new purchase. This practice allows consumers to offset the cost of a new item by providing the retailer with their old one, which can then be refurbished or resold. Many retailers and manufacturers, including Apple and CarMax, offer trade-in programs to encourage customers to upgrade their products. The value of the trade-in is typically assessed based on the item's condition, age, and market demand, making it a convenient option for consumers looking to save money.