Legislation supported by the CATA and the IADA to remove the $10,000 cap on first-division motor vehicle trade-ins takes effect on Jan. 1. If a customer makes an advance trade-in of a first-division vehicle that is valued at more than $10,000 and waits until then to use the credit, the customer will be entitled to a full trade-in credit.  

 

Put another way, the value of the trade-in credit is based on the date the credit is used, not the date the vehicle is traded in.