iPhone 5 Deal at Best Buy: Trade-In iPhone 4S or 4 and Get New iPhone 5 Before iPhone 5S (and 5C) Releases

A new iPhone is expected to drop soon, and Best Buy is offering iPhone 4S and 4 owners a gift card if they trade in their device, which they can use to purchase and iPhone 5. The deal is only on until Sunday, Aug. 18.

Photo courtesy of AppleA picture of the new iPhone 5

Apple phone lovers can trade-in their working iPhone 4S for a $200 Best Buy gift card or an iPhone 4 for a $100 gift card, and use sum to purchase an iPhone 5 with a two-year contract with Verizon, AT&T or Sprint.

Users interested in the deal must be upgrade-eligible with their current providers. The device must be in good working condition and have an intact serial number.

Reuters/Robert GalbraithApple CEO Tim Cook speaks in front of an image of an iPhone 4S at Apple headquarters in Cupertino, California October 4, 2011.

The trade-in value may vary depending on the condition of the device, available documentation, and other factors. The program also does not apply to T-Mobile users as the company has adopted a no-contract approach.

Users can trade-in their phones at the store or begin the online Trade-in process. Best Buy has also limited the trade-in deal to 3 per person per day.

(Image: Apple)Display of Apple's iPhone 4

It is not the first time that Best Buy has run a trade-in program. On June 1, the retailer offered a one-day deal, where users were able to bring their old iPhone 4 or 4S to trade in for a brand new iPhone 5. The offer was so successful that it went on to offer the trade-in program again for 9 more days, from 21 until 29 June.

Other retailers have also recently been offering cheap iPhone 5 sales, knocking the price down to $0, in some cases or giving $50 savings.

Many deals are still expected to take place as carriers and retailers look to empty their iPhone 5 stocks before the new iPhone 5S arrives.

Apple is expected to launch a lower cost iPhone, dubbed as 5C, as well as an iPhone 5S at a special event on Sept. 10.