Could I Trade In My IPhone 5 and get the 5s?

I have on a 2 year contract and my friends to me that you could give them your old phone and you'll get credit and pay the deductible. Could i do that? My upgrade is next year.

You can try, but you'll end up paying a large fee.

iPhone 5S with a 2 year contract:
16 GB - $199
32 GB - $299
64 GB - $399

iPhone 5S with no contract:
16GB - $649
32GB - $749
64GB - $849