How to qualify for "trade on Magenta MAX" offer

You’ll get the $200 and if you qualify you get the $200 over 24 months on your EIP.

So it should look like this.  Phone cost $1,000 trade in happens you'll pay $800 over 24 months for the phone(33.33 a month).  The other $200 you will see a credit on your bill over the 24 months ($8.33).  So essentially you will be paying $25 a month for the phone for 24 months ($600).