Pick up an LG G6 from AT&T for just $360 when you finance

Every month you will be billed the full amount of your payment, either $30 or $24 depending on your selected next plan. Every month the balance owed will go down by that same amount. The month following each payment you will be credited an amount equal to half of your payment. That credit will go towards your entire wireless bill, not specifically towards your phone. If you trade in your phone after making half of your payments you will not owe anything. If you decide to pay off your phone, you will receive credit for the FULL amount of all payments already owed and you will be required to to pay the full remaining balance.
The is no catch. They are not hooking anyone any more than they are anyone else who buys a phone on the next program.