New Pixel 2 is offered at 480$ from Koodo, is this a good deal or I'm an idiot?

[Kamunkin]

I'm currently looking for a used phone, because it makes no sense to me to pay over 500$ for a phone. Koodo is offering the Pixel 2 for 480$ over a 2 year contract (Large Tab) and the cheapest used Pixel 2 I found was 650$ and 2 hours drive away. I'm not really keen about contracts either, but I could actually take the contract and pay the phone right away. Is this really a good deal or there is something I don't know? (I'm in Québec, Canada)

 

 

https://www.koodomobile.com/phones/google-pixel-2