How to pay ETF so I can upgrade?  Weird question!

I have an iPhone 4s.  Upgrade date is August 2014.  Called CS today and my ETF is 220.00.
I'm thinking about doing this....pay the ETF of 220....then buy for example an iPhone 5C for 99.00 since I would be able to start a new 2 yr contract....and keep my existing number?
And the rep in store has told me that VZW will pay 200.00 for my iPhone 4s used.
So I'm thinking of a cost of about 120.00 plus any upgrade fees, taxes etc.  Is this do-able?  Anyone have any experience with this?

    wetherb67, we want you to have the latest/greatest device! I'm here to give you the best options on how to upgrade to a new device. If you cancel services during your current contractual agreement, you will lose your mobile number and be billed an Early Termination fee as well. I have a better idea! You can upgrade to a new device with the Device Payment Plan, http://vz.to/1713STl
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VZW Support
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