AT&T trade-in drops Galaxy S4, HTC One, others to $99

For a limited time, trading in your old smartphone will get you any new smartphone for $100 off.

Samsung Galaxy S4, HTC One
AT&T will take trade-ins in exchange for any AT&T smartphone, including the Samsung Galaxy S4 and HTC One. Sarah Tew/CNET

How's this for an instant discount? Beginning Wednesday, when you trade in (almost) any old smartphone, AT&T is knocking $100 off the price of any new smartphone -- including the HTC One, iPhone 5, BlackBerry Z10, and Samsung Galaxy S4.

Of course there are a few caveats. Smartphones can't be older than three years, and need to be in good working order. As a bonus, though, AT&T rates some trade-in phones at more than $100, which means you could get even more off that asking price.

The offer extends to AT&T retail stores as well as authorized distributors, and the $100 credit is instant.

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