Apple is offering a limited time deal that could get you one of its newest iPhones for as little as £499. There is a catch: you’ll need to have an older phone to trade-in. But if you’ve got an iPhone 6 right through to the iPhone 7 Plus and are considering an upgrade, you’re in luck.

For an unspecified limited time only, you can trade in your iPhone 7 Plus, iPhone 7, iPhone 6s Plus, iPhone 6s, iPhone 6 Plus or iPhone 6 at an Apple Store to get instant credit that you can use against an iPhone XR or iPhone XS.

The table below illustrates how much an iPhone XR or iPhone XS will cost when you trade in your device. Without the trade-in offer, the iPhone XR costs £749 and the iPhone XS £999.

iPhone Price of iPhone XR after trade-in Price of iPhone XS after trade-in
iPhone 7 Plus from £499 from £749
iPhone 7 from £529 from £779
iPhone 6S Plus from £569 from £819
iPhone 6S from £599 from £849
iPhone 6 Plus from £599 from £849
iPhone 6 from £629 from £879

Trade-in values vary based on the condition of your trade-in device, so expect to get a little bit less credit if you’ve smashed your iPhone’s screen, for example.

This offer is only available in stores, and you can find an eligible store near you by following this link.

Of course, this isn't the only way to get credit to put towards a new iPhone. You may find that selling your older iPhone on eBay will get you more money than Apple's trade-in deal does. However, this offer is certainly convenient so we imagine huge numbers of customers will choose to take advantage of it.

If you don’t have an older phone to trade in, check out our round-up of the best iPhone deals.