In a move that can probably entice iPhone lovers everywhere, major network carrier T-Mobile has unveiled its new line of cheap plans for subscribers.

For only a monthly payment of $5, subscribers can walk away with a brand new iPhone 6S, according to TMO News.

With a retail price of about $649, it's a bit hard for average consumers to get their hands on Apple's latest flagship smartphone. Thankfully, T-Mobile is currently offering a more practical and affordable way for people to own the coveted handset.

John Legere, the eccentric CEO of the network carrier, announced through Twitter that the latest plans are part of T-Mobile's Jump! On Demand program, which offers consumers the opportunity to trade-in their old smartphones for newer ones.

As explained by Time, those who own a Galaxy Note 5, Galaxy S6 Edge, iPhone 6 or iPhone 6S Plus can turn in their device in exchange for an all-new iPhone 6S with 16GB of internal storage for $5 a month.

Likewise, trading in an iPhone 5S or Galaxy S5 will get consumers the same iPhone 6S model for a monthly payment of $10. Older models, on the other hand, such as the iPhone 5 or iPhone 5C can be traded in to qualify for the $15-a-month plan.

T-Mobile's new deals for its Jump! On Demand program aren't only for those who own these listed devices. Even those who have no smartphones to trade in can still take advantage of this promo by simply signing up and issuing a monthly payment of $20 for an iPhone 6S.

In addition, those who stay with T-Mobile for the contract's duration of 18 months will get to keep the iPhone 6S at a very discounted price. They will only have to pay for the remaining balance after subtracting the total of their monthly payments and the standard $125 discount from the handset's original cost,

According to Legere, the various deals also apply for those who have already pre-ordered the iPhone 6S.

"Yes," he tweeted. "You can take advantage of this offer if you've already pre-ordered with a trade-in."

The executive noted that more details of the new Jump! On Demand offers will be unveiled later this week.

As noted by Mac World, other networks such as AT&T and Verizon also offer discount deals on Apple's latest flagship smartphone. But, so far, T-Mobile's trade-in deals are the cheapest promos that consumers can take advantage of.