How exactly does the trade in for iPhone 6 work?

Hi! I have had an iPhone 4 for quite some time and really need to upgrade. Would love for my upgrade to be with the latest model. The trade in sounded great since it would essentially be getting a new phone for free. I was just not completely sure how it works.
First part of question: Do I have to pay out of pocket the cost for upgrading to a new iPhone 6 and then I will essentially be reimbursed for my trade in with the gift card?  Or do I trade in the phone, get the gift card and then use it to purchase the new phone?
Second:
I currently have a phone that has the screen incredibly cracked and damaged from a recent accident.  The phone works, but I did receive a new iPhone 4 to replace it since I had insurance on it.  I have yet to activate the new phone since I heard about this trade in and the new iPhone 6 coming out. Would I be able to trade in the completely new phone I have received to get the gift card even though I haven't used it? would I only be able to send in the damaged one only? Or could I send in both?
Third:
Is this something that could be done in store instead of online? If so what would the process be for that?
Fourth:
Would this change my current plan in terms of cost per month?
Thank you! Hope to hear back soon.

    Hi Alohaei,
Sure! We know that every penny counts. You can follow the trade-in promotion using the instructions below:
Now that your iPhone 6 purchase has been completed, visit the online trade-in website to submit your trade request.
You’ll receive shipping materials to return your old device to Verizon Wireless within 7 days after receiving the your iPhone 6 or iPhone 6 Plus, but no later than 12/01/2014.
Note: Only 1 iPhone can be traded in at this promotional value for each new iPhone 6 or iPhone 6 Plus purchased with a new Verizon Edge agreement, 2-year contract, or when you pay full retail price. You'll receive shipping materials to return your old device to Verizon Wireless within 7 days after receiving your new iPhone 6 or iPhone 6 Plus, but no later than 12/01/14.
Please allow up to 4-6 weeks from receipt of trade-in device for the Verizon Wireless Gift Card to arrive if trade-in was submitted online.
Thanks,
PamelaF_VZW
Tweet us @vzwsupport

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