iPhone 5s Sale: $1 at Best Buy After Trade In

As of Sunday, Best Buy is offering customers a 16GB iPhone 5s for just $1 after signing a new two-year contract and trading in an older iPhone. Seems like a sweet deal, but there are a couple of catches that you should be aware of.

You’ll get at least a $150 Best Buy Gift Card when you trade in any working iPhone 5 or iPhone 4s, but you have to purchase a 16GB iPhone 5s with two-year activation in order to get the gift card. Furthermore, you have to use the gift card on your iPhone 5s purchase.

Unfortunately, this deal only applies to the 16GB iPhone 5s model, which might not be enough storage for some users. Also, you could argue that the trade-in value isn’t that terrific, especially if you’re trading in an iPhone 5. Most iPhone 5 units can sell for at least $300 on eBay or Craigslists, while the iPhone 4s should be able to score at least $150.

Of course, the trade-in deal makes it easier to sell an old iPhone and essentially just eliminates the hassle of having to do list it on eBay or Craigslist and dealing with the transaction yourself, so the potential gain might not be worth it to some folks.

Read: iPhone 5s Review: 6 Months with Apple’s Flagship

Of course, the Best Buy ad says that you’ll get at least a $150 gift card, so depending on the condition of a used iPhone that you bring in, you could get more for it. Even still, $150 for a 16GB iPhone 4s is pretty sweet deal if you trade it in.

Without the trade-in, you can still get a 16GB iPhone 5s at Best Buy for $149, which is still a great price if you just want to buy it outright with a two-year contract on the carrier of your choosing. It’s certainly cheaper than the normal $199 price tag if you buy it directly from Apple.