can you exchange an old ipad and some money for a newer one

You would probably do better selling the iPad on sites like eBay or Craigslist. Apple does not buy back equipment. There has been a program in the past with a third party buying back and giving an Apple gift card you can use towards another purchase...check the Apple store near you to see if that is still available and how mcuh you would get for your iPad.

Your only option is to sell the iPad and buy a new one.

How to Sell Your Old iPad http://tinyurl.com/85d69lk

Other sources to sell.

eBay Instant Sell http://instantsale.ebay.com/?search=ipad

Sell and Recycle Used Electronics - Gazelle http://www.gazelle.com/

For instant gratification in selling a used iPhone or iPad, Gazelle’s Gadget Trader, an iOS app, is tough to beat. In seconds it detects the device and reveals how much it is worth in good condition. Tap the Sell This Phone to Gazelle button and the deed is done.

Sell Electronics for Cash - Next Worth http://www.nextworth.com/

Buy My Tronics http://www.buymytronics.com/

Sell Your iPad http://www.sellyourmac.com/mac-product-guides/ipad.html

Totem http://www.hellototem.com/

 Cheers, Tom 😉