Now is the best time to upgrade to a newer game console. 

Retail giant Best Buy is currently offering a deal for those who own a working Xbox 360 or a PlayStation 3 but would want to upgrade to the next-generation Xbox One console. The Trade In and Trade Up deal of Best Buy for Microsoft's Xbox One will provide a $75 coupon for a working last-generation console unit, and users who will bring a working Xbox 360 250 GB or a Sony PlayStation 3 Slim will also get a minimum $100 gift card. 

However, Best Buy will only accept the old working console if it has not been opened and the seal indicator is not tampered. It should also come with its AC adapter or power cord. Also, those who want to avail the deal must work fast since the deal period will only run until Saturday, June 20. 

Not all Best Buy stores offer the Xbox One trade-in deal, which is why it would be better if the interested consumers will check out their site to know which one offers this deal. 

During the recently concluded Microsoft press conference at the Electronic Entertainment Expo 2015 in Los Angeles, Xbox boss Phil Spencer advised those who are contemplating on getting an Xbox One to act now.

"If you've been waiting to move from your Xbox 360, now is the time," Spencer said. 

Microsoft recently unveiled its future plans for their latest gaming consoles, including the Backwards Compatibility program wherein the older game titles for Xbox 360 can be played online using the new Xbox One console. It can be activated through online downloads or by putting the Xbox 360-compatible video game disc directly in the Xbox One. 

Microsoft is also working to bring the HoloLens technology to Xbox One featuring Mojang's popular sandbox game "Minecraft." 

Xbox One was first released in November 2013, and it is currently priced at $399 and up, depending on the model.