Wow! Only $208 for the 32 GB iPhone 5? I traded my 32 GB iPhone 5 in at AT&T and they gave me $310.00, which served nicely then to offset the early upgrade. I wound up paying less out of pocket than I would have if I'd had the full upgrade eligibility. Since I really had not planned to do this, I didn't have anything else with me, just the iPhone itself. So, that way I got to keep my charger, lightning cable, earbuds, etc. Nice!!!
From what I understand about the Apple trade-in program you need to do it at the time you are buying the new iPhone in the store.