Had a quick theory, and I wanted to see if anybody has tried this before. I have an iPhone 5, and I want a 5S. My contract has another year on it. I'm on a family plan with my wife, under my name / social security number. Rather than buying an unlocked phone for $649, I had another idea. What if... my wife purchased the phone and a new 2 year AT&T contract for $199 + ~$15 tax. She got the cheapest plan available, which is $59/month, which I imagine she'll have to pay for the first month. Activation fee is $36. Early Termination Fee is $325. That adds up to a grand total of $634 after tax. If I were to buy a phone unlocked, it would cost me $700 after tax (since the tax rate would be on the $649 instead of the $199). That's a savings of $66. It may not be THAT much in the grand scheme of things, but it's definitely something! Has anybody tried this before? Does anybody see anything that might cause us problems? Does AT&T make you wait a certain amount of time before you can cancel your contract and pay the ETF fee? Also, if we were to cancel literally the day after we signed the contract, would we have to pay the $59 for the entire first month, or would it be pro-rated for just that one day?