When T-Mobile’s Nexus 5 launched in November, it was available for $17 per month (for 24 months) with $41.99 up front. That meant the phone cost $450. But now, T-Mobile has dropped the price. If you head over to the carrier’s site, the Nexus 5 is available for no down payment and just $16.50 per month for two years. This means that the full retail price has dropped to $396. While it is not the same price that the Play Store is selling it for, it isn’t bad considering the cost is spread out.