The price of Xbox 360 Elite units was just marked down to $299 across retailers nationwide, but if that wasn’t enough to incite folks into buying, Microsoft is going the extra mile by offering a $50 rebate on the discounted model for new purchases from now till October 5 in a deal sponsored by Netflix.

Specific details, including where to mail in the rebate form can be found over at Microsoft’s site. In order to take advantage of this deal, submissions must be postmarked and received by November 20.

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