If you've thinking about purchasing an LG Nexus 4 and don't mind signing a service contract with T-Mobile, you'll be happy to know that you can now get the 16GB version of the smartphone for free, with a two-year commitment.

So what's the catch here? First, after all discounts are factored in, you still have to pay $50 upfront and then send in a rebate to get the phone for free. Second, contract plans are generally more expensive and so the long-term cost of the LG Nexus 4 through a contract plan is going to likely be higher than what you'd get if you bought the handset from Google Play outright for $300.

Still, not everyone minds contract plans. Some people just don't have the money to spend upfront and contract plans make it possible to get the handset without having to wait until you've saved up the cash.

If this sounds like a deal you'd be interested in, you better act quickly. The promotion is very short-term and ends on Sunday, February 24th. What do you think, it is worth it to get it through T-Mobile or not?