Can i cancel my T Mobile Contract and get a new plan with them? - 1

I currently have a contract with t mobile that has alot of time to go, because I had to buy a new phone because my unlocked nexus broke and no where in my town would fix it, the IPhone is coming out in a week and I was planning on waiting for my upgrade which would be here already if not for my situation I had. I looked on their website and it did with my amount of time it would be 200$ to terminate my contract, could I then buy an IPhone with the new simple choice plan for 100$? Coming out at 300$, which I'm going to sell my galaxy S3 to make up 200 I need for it. Or would they not allow my out of my contract just to switch plans?

I've worked for two cell phone providers but not Tmobile.generally you can cancel your contract and pay the ETF and then potentially start a new contract and use the upgrade for a new phone but I just want to tell you, there's no way you're going to get $200 for that phone. $75 at most.