Update: If it’s a PS4 you are interested in, GameStop is now also offering $150 in credit towards the purchase of a new PS4. “Trade any PS3 (20GB or Higher) or Xbox 360 (250GB or Higher) and get $150 toward the purchase of a new PS4.”

Microsoft made a few exciting announcements at this morning’s E3 event including the reveal of 4 player co-op for the new French Revolution set Assassin’s Creed: Unity, an Oct 28th release date for Sunset Overdrive, Crackdown 3 reveal, and a brand new IP from Platinum games called Scalebound. Just in time for all the new announcements, Best Buy has just launched a new Xbox trade-in program yielding the lowest price we’ve seen on a brand new Xbox One.

Best Buy is currently offering up to $150 towards a new Xbox One when trading in a fully functional “Xbox 360 250GB” or “Sony PlayStation 3 Slim.” With the release of the Kinect-free Xbox One today for $400, using the $150 credit will knock the total down to $250 which is easily the best price we’ve ever seen on Microsoft’s next gen gaming system. The credit can also be applied to the Xbox One bundled with Kinect.

Additionally, the retailer is offering $50 credit for any other working game console trade-in.

Compared to the trade in value from retailers like GameStop and Amazon, Best Buy is offering between $40 and $75 more with today’s promotion.

You can find out more about whether or not the new Kinect-free Xbox One is right for you in our analysis post and be sure to keep an eye on our daily game roundups for all the best Xbox deals.