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Time for new phone

My S3 is just over 2 years old, the screen has been cracked for about 6 months. Single crack from home button to just below power button. It hasn't affected anything until this weekend, the touch screen is now typically unresponsive, or it just does it's own thing/ 'phantom' touches.

Prior to my phone crapping out, I had already been thinking about an HTC One M8, I'm with Bell in Canada. Early device upgrade is $180, plus $129 device fee on a 2 year contract, plus to get a new plan similar to mine (currently $60/month) is going to run $120/month. Twice as much! So I'm looking at $309 upfront just to get a new phone, and paying twice as much each month that I am currently. F that! I'll buy an unlocked phone and keep my current plan.

Problem, I don't really feel like spending $700 on an unlocked One M8. Nexus 5 would be my good 'cheap' option @$400 on Google. I have a 64gb microSD in my S3 which is half full with just music, toss on TitaniumBackups and TWRP backup and I'm using a good chunk of my expandable memory. So even the 32gb N5 isn't perfect/ideal.

My plan was to put the GPE ROM on the Bell M8, or SlimKat ROM (currently on my S3).
Should I bite the bullet on a $700 M8, knowing that if I buy it outright instead of going with a new contract, that in 8 months I will have 'saved' the money I would have otherwise spent on the $120/month contract?

I was live chatting with a rep on the Bell website earlier and he straight up agreed it would be better to buy an unlocked phone and keep my current plan active, but also suggested I call customer retention and see what deals/promo they can offer me, so that'll be what I do tomorrow.

Any other suggestions?
 
I am still very confused as to how/why your plan is doubling in price because of an upgrade??? Seems a little ridiculous to me.

Otherwise I would probably just go with the Nexus 5, I mean it's a solid device and not worth as much as a regular unlocked device.
 
I am still very confused as to how/why your plan is doubling in price because of an upgrade??? Seems a little ridiculous to me.

Otherwise I would probably just go with the Nexus 5, I mean it's a solid device and not worth as much as a regular unlocked device.

my current plan no longer exists and part of my plan was a promo ($60 1GB data-talk-text plan with 5GB free), so I can't sign up for a new contract with this plan, new contract would bring whatever their current plans are. if I buy an unlocked phone, i just keep my current plan even after the contract expires next June.
 
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