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Free iPhone XR on T-Mobile when you trade in an iPhone X or earlier

Technically it's in the form of bill credits, but hey, it works out in the end.

T-Mobile will give you a free iPhone XR when you trade in an old iPhone.
Angela Lang/CNET

On Wednesday, T-Mobile made it easier for you to get your hands on a new iPhone XR. The carrier launched a promotion that nets you the XR when you trade in an old iPhone.

The iPhone XR launched last year alongside the iPhone XS and XS Max. In his in-depth iPhone XR review, CNET's Scott Stein wrote, "The iPhone XR is the best iPhone for the price, delivering most of the advantages of the iPhone XS for hundreds less."

Now playing: Watch this: iPhone XR: It's the iPhone you should buy

But obviously a deal that sounds this good has some fine print. So here's what you need to know.

First, you don't get the phone for free. Instead you are compensated for $750 over the course of 36 months. That comes out to around $20.84 a month, each month from now until March 2022 or thereabouts.

Next, to be eligible for the free iPhone XR, you need to activate two new lines of service with T-Mobile.

And last, you have to trade in an eligible phone in good condition. Here are phones that will count toward the deal.

T-Mobile's deal will only last a limited time or until supply runs out.