iPhone 16 Pro Max Stopped Charging after Update

My iPhone 16 PM stopped charging after a software update. I took it to BestBuy & Apple to get evaluated, but they're quoting me $600+ to get it fixed. My phone is over a year old, and I don't have any insurance on it. Is there any way to get trade-in value for my phone because Apple offered nothing?

I am very frustrated & refuse to update any of my other devices after this. Even the Apple employee said that sometimes this happens after updates...