amya152 wrote:
I understand that I cannot exchange the phone, but is it still eligible to trade in was my main question. I know that I would owe money, I just didn’t know if it were possible.
No, your current phone is not eligible for trade in at this point. You can either wait until iPhone 16 is released in the fall or if you really want to move up to a Pro Max model now, sell the phone outright to someone you know who would appreciate a current Pro Model iPhone. If you sell it outright, you'll likely make more on the sale than you would have in trade.
If you do decide to sell it, before you hand it over to someone, make sure you follow the directions in this link to ensure the phone is prepared properly for a new user --> What to do before you sell, give away, or trade in your iPhone or iPad - Apple Support