meaning of "trade in"

[Tortoise]

My dictionary says that trade in is completely an American word and has American meaning and means:
to give (a used article) as payment to be credited toward a purchase: We trade in our car every three years. [quoted from dictionary.com]

Do we have trade in in English language?

[Mister Micawber]

.
American English is a major part of the English language. The Cambridge Advanced Learner's Dictionary does not indicate the American bias:

Trade-in noun [C]

a method of buying something new by giving an item you own as part of the payment for it:
We got a good trade-in price for our old television.
.
_________________
Native English teacher at Mister Micawber's