Assuming you get $1000 trade in for this broken phone, that's a good deal versus $100-$200 out of pocket for repair on a phone that probably is going to also need a new battery in the next year.

The trade in will cost you $100 in taxes and probably an activation fee, but you'll get a new phone.

The trade in credit will be given to you over 24 months. If you upgrade after 50% is paid off, you lose 12 of those trade-in credits so you'll only be getting $500 for this phone. That being said, it's still fine to do as long as you're planning for it. Basically trading int he $14 Pro in 1 year you'll effectively get 50% trade in value toward the 15 and start payments again.

As for avoiding the 2024 model (16?), that's my pure speculation. With the iPhone XS they switched to an Intel modem and people apparently had issues with that so I just avoided that model. Of course people have had problems with the 14 Pro too (apparently should be fixed by now) so maybe it's just every iPhone but my brother has an XS, complains a lot, and I think that model just isn't good. Apple's modem could be great but Qualcomm has been doing this for a long time, has a good track record, and Apple is apparently having problems with their modem which is why they won't be putting it in the 2023 (15?) model as they had initially planned. They're going with Qualcomm again. I don't really know, but I'm reluctant to be the one of the first with a phone with an apple modem. Then again maybe Apple has some super great feature that you'll want.

I'd probably upgrade to the 14 Pro if I were you. I can see it difficult to spend money fixing an old phone when the same out of pocket will get you the new one.