09/25/15 EDIT: Sadly, Amazon has blocked the gift subscription method as detailed below this year. It did work previously when Amazon raised the price of Prime last year.

However, gift subscriptions are now locked into a $99 price point while new subscriptions are listed at the $67 price (when logged out of Amazon). Hypothetically, a new email address could be used for a new account and an old account could be deactivated, but Amazon may cancel accounts that attempt that workaround.

Did you hear Amazon is running a one day special on Prime on Friday, Sept. 25th? While Amazon is trying to limit the promotion to new customers, there is a loophole that will allow existing customers to purchase the one-year subscription for 33% off the regular price. Directions are below:

1. Go to the Amazon Prime gift subscription page on Friday, Sept. 25th.
2. Purchase a gift subscription and email the gift subscription to yourself. While you can send it immediately, you also have the option of sending it in the future; a few days before your Prime membership expires, for instance.
3. Go to your Prime Central page and click the ‘Set A Reminder’ link. Three days prior to your Prime renewal day, you will receive a reminder email. When you receive that, go back to the same page and cancel your Prime membership.
4. Once your membership is cancelled or expires, apply the gift subscription you purchased on Friday, Sept. 25th to re-activate your account for another year.

If you happen to forget about cancelling your membership, don’t worry. You can open up a chat with Amazon to get a full refund, then apply the gift subscription after your Prime account has been cancelled.

Of course, the one downside to this process is that you have to pay a renewal cost up front that you may not need until next year. However, a 33% discount on Amazon Prime’s $99 yearly price is a much better return than you could generate on $67 with any typical interest bearing account over the next 12 months.

Want Amazon Prime for $67? Existing subscribers are out of luck