Microsoft to offer Xbox 360 contract deal

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The Verge is reporting that Microsoft is about to offer a subscription based purchase model for the Xbox 360.

Microsoft is planning to offer a 4GB Xbox 360, Kinect and access to Live for $99, with a monthly subscription of $15 for two years on top of the initial outlay.

This actually works out to be more expensive than if you were to purchase the system, but it does offer a window for those who can’t afford to play the full amount up front. The best part about this deal is that it also includes a full warranty for the two year period, however if you exit the deal before this time you will be charged a penalty fee.

As far as we are aware this will be US only for now.