Microsoft has announced their All Access program, a 24-month contract that allows you to get either an Xbox One S or an Xbox One X along with 2 years of Game Pass and Xbox Live Gold.
The official page on the Microsoft Store shows the Xbox One S bundle at $22/month and the Xbox One X at $35/month. Both plans require no upfront payments and are set at 0% APR. The FAQ on the page explains that there is no getting out of this commitment once you begin monthly payments, so be sure you want it before buying!
The console is yours to keep. It's not a rental and you are responsible for looking after it. The FAQ states that Microsoft will not cover any repair expenses if the console breaks down during this period, this will be down to the owner.
If you are unable to complete payments within the 24-month period, you will be subject to variable APR ranging from "between 19.24% to 29.99% APR" with a minimum Interest Charge of $2. This is all subject to your credit rating, however.
The Xbox One S contract ends up saving you more money in the long-term. The S will cost you $530 in total compared to $640 if you were to purchase an Xbox One S and 24 months of Gold and Game Pass individually. On the other hand, the Xbox One X will set you back $840 in total instead of $860.
Dell Preferred Accounts is handling the payments, and you'll be required to apply with Dell and get approved by them first. The deal is only available at Microsoft Stores.
Xbox Game Pass will cover some of your third-party needs and allow you to play all Microsoft first-party games as soon as they launch. You'll still have to buy a lot of your third-party games, but you'll get access to a very large, and growing, library of games. Microsoft has recently announced that Halo: The Master Chief Collection will be joining the line-up in September.
