If you don't mind paying upwards of 600$ for the phone instead of 50-100.
Over the course of a two year contract you will almost pay twice what the phone is worth. A reduced price phone on a contract is nothing more than a rent to own. You will eventually own the device but you have paid a lot more for the device.
Do the math using a service such as Straighttalk. $45.00 a month vs Verizon at $100.00 a month. You are paying $55.00 more a month with Verizon. The cost of the phone is $299.00 at Verizon, $749.00 at an Apple store for the Iphone 5, 32 gig. Price difference is $450.00. That is 10 months of the contract. So for the remaining 14 months on the contract you pay $55.00 a month for nothing. That amounts to $770.00 additional that you paid, more than the price of a new phone.