Best way to upgrade to iPhone 5 midcontract?

[maclook]

The iPhone 4 is my first iPhone so I'm inexperienced with this. What is the best way to upgrade to the iPhone 5 midcontract with AT&T? My options that I know of are:
1) Sell on eBay or Craigslist
2) Pay upgrade fee and sign a new 2 year contract with AT&T
3) Trade in with BestBuy or Apple or Gazelle for like $250 max

I'm thinking 1 is the best option and then I can buy an unlocked phone for $300ish without resigning with AT&T (who knows if I'll want to be with them another two years). Is there any rush to sell before the announcement/iPhone 5 release? I know the iPad retained it's resale value even after the 2 was announced. Thanks for any help!


sidenote: The simple fact that the iPhone 5 should have a better camera is the main reason why I want to go through the trouble to upgrade. I take so many pictures with my iPhone that I figure it's worth the investment to get another year of pictures in higher quality.

 

[Dandrews524]

do 1 followed by 2 and you should be just fine

 

[cyks]

I'm thinking 1 is the best option and then I can buy an unlocked phone for $300ish without resigning with AT&T (who knows if I'll want to be with them another two years).

You realize that if you buy one without resigning, it's $650. For the $300 price you'll need to sign a new 2 year contract.

 

[wordoflife]

Sell your old iPhone on craigslist and buy a new one using AT&T's Early Upgrade pricing. It's $399 for 16GB and $499 for 32GB (+$18 activation fee + new 2 year term). You won't be able to buy an iPhone 5 for $300 unless you are a new customer, are adding another line, or have an available upgrade.

 

[maclook]

You realize that if you buy one without resigning, it's $650. For the $300 price you'll need to sign a new 2 year contract.

Sorry I meant I could pay an additional $300 after selling it for $300-400 to buy a new unlocked iPhone, totaling $650.

Thanks for the replies. Do you think there's any rush to sell sooner rather than later or will the iPhone 4 retain its value for a while?

 

[maximus96]

early upgrade is now $250 i believe, so for a 16gb it will probably be $199+250+18

 

[ucfgrad93]

do 1 followed by 2 and you should be just fine

This seems like the best way to do this.

sidenote: The simple fact that the iPhone 5 should have a better camera is the main reason why I want to go through the trouble to upgrade. I take so many pictures with my iPhone that I figure it's worth the investment to get another year of pictures in higher quality.

Better specs doesn't always mean better pictures. You might want to wait and read some reviews before you upgrade.