If you’re in the market for an iPhone now and can’t wait for new models later this year, T-Mobile is kicking off a new promotion to discount the iPhone 7 and iPhone 7 Plus for customers. The deal starts today and discounts new iPhones by up to $400 after trading in a qualified iPhone.

There are two parts to the promotion. First, T-Mobile is discounting the iPhone 7 and iPhone 7 Plus by $300 for customers who trade in an iPhone 6, iPhone 6 Plus, iPhone 6s, or iPhone 6s Plus. The trade-in offer probably makes more sense for older iPhones since you’ll be able to get more from newer models with other options, but it’s a convenient upgrade offer if you’re in a pinch.

Additionally, T-Mobile says customers can combine the $300 trade-in deal with the carrier’s ongoing memory upgrade offer which discounts the price of the 256GB iPhones by $100 which is the usual price for the 128GB models. This nets you a total savings of $400 when you trade-in and upgrade your storage.

For example, you could purchase the 32GB iPhone 7 at $649 regular for $349 after the trade-in offer or purchase the 256GB iPhone 7 at $849 regular for just $449 total after combining both offers.

T-Mobile says all storage configurations and color options are eligible, although the promotion appears to only be available in stores and not online.

There’s also the usual fine print like not being able to combine the limited time offer with other promotions like Carrier Freedom, and you have to purchase the new iPhone 7 or iPhone 7 Plus on T-Mobile’s Equipment Installment Plan.

The biggest catch is that you’ll likely be held up with paying off the iPhone 7 when the new flagship iPhones come out later this year, although they could be supply constrained and pricey so if you need a new iPhone now it’s a deal worth checking out.

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