Verizon has shared a new aggressive trade-in program today that it says will let new and existing customers trade in broken iPhones for up to $1000 in credit when buying a new iPhone. The company says it’s not an April Fools’ Day joke and that the limited-time promotion starts on – yep – April 1.

Verizon detailed the new broken iPhone and Android trade-in program today in a short video on YouTube and a press release. The carrier says upfront that it’s not an April Fools’ Day prank but as noted by The Verge, this deal does sound too good to be true. However, the fine print explains some of that if this indeed is just a poorly timed new program.

Beginning tomorrow, April 1, and for the first time ever, for new and existing customers: trade in your cracked or water damaged phone and get up to $1,000 off our best 5G phones with a port-in and select Unlimited plans1. That means cracked, broken, and even phones that no longer turn on can help make your next device more affordable. Yes, we know it’s April Fools’ Day, but trust us — this offer is #NoJoke. Act now, though, because this offer is only available for a limited time.

The offer’s tagline has a very T-Mobile Uncarrier vibe to it: “You broke your phone, so Verizon is breaking the rules.”

Some of the fine print includes the offer being available for new lines or port-ins only when upgrading to a new 5G phone like the iPhone 12. Customers will also have to pick a new Verizon Unlimited plan and the (up to) $1000 value will be split between monthly credits and a $300 Verizon e-gift card.

Verizon hasn’t shared details yet for exactly what values broken iPhone trade-ins will have by model. But it did share a generic chart that damaged iPhone 8 and later will have a “higher value” and broken iPhone 7 and older will offer a “lower value.”

In the video below, the company says a broken iPhone 8 trade-in with upgrade to an iPhone 12 is eligible for the full $1000 credit.

If this limited-time deal does pan out to be real, it could be a compelling reason to switch to Verizon or add a new line.

Verizon says full details will show up on its website here starting April 1.

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Michael Potuck

Michael is an editor for 9to5Mac. Since joining in 2016 he has written more than 3,000 articles including breaking news, reviews, and detailed comparisons and tutorials.