Best Buy is selling Apple's 16 GB iPhone 6s for only $1 until Dec. 20. The catch - you will need to sign up for a two-year contract with either Verizon or Sprint, according to BGR.

The normal retail price of the iPhone 6s is currently at $200, so that's a massive discount of $199, if you are willing to sign a contract with either of the two service providers. AT&T users are also excluded from the promo.

The iPhone will be available in all four colors (gold, rose gold, silver and space gray), and the deal is also applicable on previous-generation 16 GB iPhone 6.

Another sweet deal that Best Buy offers is for those interested to have a $200 gift card. All one has to do is trade in an iPhone 5 or newer model upon the purchase of the $1 iPhone 6 or 6s, and Best Buy will throw in that gift card, CNET reported.

The sale is good both online and in stores.  

This is not the first time retailers and carriers have used Apple's most popular product to lure new customers, according to PCWorld. In fact, when the iPhone 6s was launched, all major carriers had it on sale.