Repair
Can I Send my current phone in for repairs and turn on a new iPhone while the old one is being repaired. Main reason, I want the better trade in value for it.
iPhone 8 Plus, iOS 12
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You may be able to transfer the SIM card from your phone with service to the other phone. We did that with a phone while were on vacation in another country. We took the card out of our phone, stored it in a safe place, then put in the card from the other country for two weeks. When we got home we put the original card back in and service resumed as normal. As long as your card will work in both phones and the phones are not locked to a carrier I don't see why you couldn't just take the card from one phone and put it in the other.
Learn which size SIM card your iPhone or iPad uses - Apple Support - https://support.apple.com/HT202645
Remove or switch the SIM card in your iPhone or iPad - "Learn how to remove or transfer the SIM card in your iPhone or iPad (Wi-Fi + Cellular models)."