There’s only a couple months left until the iPhone 8 should be announced, which means it’s fire sale time on the iPhone 7. Most of the major carriers have stock left, and with the iPhone 8 expected to be a big step up, it will take some persuading to make people jump the gun now, instead of waiting.

So it’s really not surprising that T-Mobile is rolling out a new deal on the iPhone 7 for the summer, which should get rid of some of the iPhone stock and tie more customers into a T-Mobile equipment payment plan.

But don’t let the motives distract you from a good deal. If you trade in a recent big-screen iPhone — specifically, the iPhone 6, iPhone 6 Plus, iPhone 6s or iPhone 6s Plus — you get $300 towards the value of a new iPhone 7. The trade-in value of the device gets applied in store, and the balance of the $300 gets sent to you on a prepaid MasterCard.

You can also stack this deal on top of T-Mobile’s existing iPhone memory upgrade, which bumps up the storage capacity of a new iPhone for free. That means that for the same price as a 128GB iPhone 7, T-Mobile will sell you the 256GB version, which normally costs $100 more. As someone languishing on a 32GB iPhone 7, I can confirm that it’s a deal worth taking.

There’s a chance we’ll see better deals on the iPhone 7 this summer, but this is a simple and hassle-free upgrade option for anyone who wants to jump up to an iPhone 7 right now. If you have a bad condition iPhone 6, it’s definitely worth taking advantage of; if you’ve got a mint iPhone 6S Plus, you can probably sell it for more than $300 anyway.

Chris Mills has loved tinkering with technology ever since he worked out how to defeat the parental controls on his parents' internet. He's blogged his way through Apple events and SpaceX launches ever since, and still keeps a bizarre fondness for the Palm Pre.