Magellan is looking to get right back into the turn-by-turn GPS race that’s still raging on in the App Store with a substantial update to their line of Magellan RoadMate apps.  And to celebrate this latest release, Magellan has provided us with three (3) promo codes to give away to you fine folks, but first, a little bit about the new version of Magellan RoadMate.

Magellan RoadMate is now fully iOS 4.0 compatible, with fast app switching and background audio support that is able to provide you with uninterrupted navigation even during calls or while using another app.

It also now features real-time traffic data for free, so there is no need to pay any additional subscription fees like some other turn-by-turn apps.  The traffic data is provided by NAVTEQ, and is able to display both incident information as well as the flow of traffic on a given route.

If you would like to share your route or a point of interest with friends or family, now you can. You can also receive real-time offers and coupons for businesses in your vicinity or on your route, and enjoy them immediately or save them for later redemption.  This feature can be disabled, but by doing so you will also disable the free real-time traffic feed.

The latest version of Magellan RoadMate also squashes some bugs and allows you to listen to your own music.  That’s to go along with all of the features that were previously available, like lane assistance, 3D landmarks, full address book integration, pedestrian mode, and a car locator.

If this sounds like something you would love to have readily available on your iPhone, here’s your chance to obtain a copy of Magellan RoadMate North America ($44.99) for free.

To have a chance at winning one of our three Magellan RoadMate North America promo codes, simply hit that blue tweet button near the bottom of this page or retweet this post from your favorite Twitter app before 11:59 PM PDT tonight (November 18th). We will then search the Twitterverse for all of the retweets and randomly choose our lucky winner. The winner will be notified via Twitter, so please be sure to follow us so we can send you your promo code via a direct message.

Non-Twitter users and those of you who want to increase your odds of winning can simply leave a comment below before 11:59 PM PDT tonight telling us where you would like to go if you are one of our lucky winners to have a chance at nabbing one of the other two promo codes.

Feel free to participate in the giveaway via either or both methods. Only one entry per person per method is allowed, totaling up to two entries per person if using both. This giveaway is only open to U.S. iTunes account users.