You can get Apple's iPhone 6S incredibly cheap through T-Mobile

T-Mobile is offering a really compelling deal for those looking to upgrade to the iPhone 6S or 6S Plus.

If you're willing to trade in your old phone, you can get the new iPhone for as cheap as $5 per month without having to pay any fees upfront, the carrier officially announced on Wednesday.

You'll have to participate in T-Mobile's Jump! On Demand plan to get the deal, which essentially leases the phone to you for 18 months.

Pricing varies depending on which model of the new iPhone you want to buy, and which phone you trade in.

If you trade in an iPhone 6, iPhone 6 Plus, Galaxy S6, Galaxy S6 Edge, or Note 5, you'll get the new iPhone for $5 per month. But if you trade in an older phone such as the iPhone 5S, Galaxy Note 4, or Galaxy S5, you'll pay $10 per month for the new iPhone, which is still a pretty great deal.

Apple and other carriers, for instance, charge around $25-$32 per month for the new iPhone.

If you want to keep the iPhone 6S after your 18-month lease is up, you could choose to pay it off in full. This would cost you $524 in total for a 16GB iPhone 6S compared to the $649 price Apple charges.

Keep in mind, though, that T-Mobile's coverage footprint is smaller than that of AT&T and Verizon. These maps from OpenSignal show how coverage across the country compares by carrier.

Here's the price chart from T-Mobile that breaks down pricing plans for the iPhone 6S: