Best Buy offering iPhone 5 for “free” through iPhone trade-in program

Best Buy is once again launching their iPhone 4 and 4S trade-in program, allowing users to exchange their older devices for a brand new iPhone 5. The original promotion ran for only one day, and Best Buy mentioned that it was a great success. As a result, the company will this time offer the program for ten days instead of just one.

The new iPhone trade-in program began Friday, June 21st and will be running for nine consecutive days. Customers who trade in an iPhone 4S or iPhone 4 in working condition will receive up to $150 towards a new iPhone 5. If trade-in iPhone is valued at more than $150, customers will recieve the extra amount on a Best Buy gift card, which can be used towards anything else in the store. One thing customers cannot do is put any amount over $150 towards an iPhone with a higher capacity than 16GB.

Currently, Best Buy sells a 16GB iPhone 5 for $149.99, which means customers are essentially getting an iPhone for “free.” Of course, it technically isn’t free because customers had to invest money in the iPhone 4 or 4S they’re trading in. Even so, it will allow them to upgrade to the latest iPhone at no extra cost. Customers will receive a $50 instant rebate they will be able to use until the last day of the trade-in program on June 29. All iPhones that are traded in and applied towards an iPhone 5 are subject to a 2 year contract with Verizon, AT&T or Sprint.

The trade-in program is available from June 21st to June 29th for all iPhone 4 and 4S users.

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