IPhone 5 Verizon upgrade concerns?

I was thinking about getting the new iPhone but I'm not sure how the process would work. I just bought the 4s for Verizon as my upgrade back in July. That means I normally can't get the new iPhone 5 without either having to pay the $800 full retail price or having an upgrade available, in which then the phone would only be $200. All 4 of my family members did not use their upgrades so I believe the rule is that I can use one of theirs since it's the same account. That would let me get the iPhone 5 for $200. I looked online at eBay instant sale and gazelle.com and their both offering me about $275 for my iPhone 4s. That would mean that I would make $75 by getting the iPhone 5. Why does that seem too good to be true? Is that how Verizon plans work? And can I use one of their upgrades?

You can use their upgrades, and switch phones with them…

Also, why get an iPhone when you can get a Galaxy SIII?

Yes, you can use one of their upgrades and then activate it on your line. This may not seem important now, but I would like to point out something about doing that. I did this before, I used my moms upgrade to get a Blackberry and then activated it on my line, later on my mom decided to end her contract and pay the early termination fee. My mom had just a regular cheap flip phone so her early termination fee is cheaper than it would be for a smartphone, but because I purchased the Blackberry on her upgrade they made her pay the smartphone early disconnection fee even though it was never actually activated on her line. Just thought I would mention that just in case you find yourself in a similar situation because it really sucked.

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