Trade-in programs allow consumers to exchange their old items, such as electronics or vehicles, for credit towards new purchases. These programs are commonly offered by retailers and manufacturers, making it easier for customers to upgrade their products while reducing waste. The value of the trade-in is typically assessed based on the item's condition and market demand. Participants in trade-in programs can benefit from discounts on new items, making them more affordable. Additionally, these programs promote recycling and responsible disposal of outdated products, contributing to environmental sustainability. Many smartphone and car companies have established trade-in programs to encourage this practice.