Thanks that’s really helpful!
I think I might have found a sort of less hassle loophole actually... you can trade in with Apple, provided you’ve paid off the Barclay’s amount. Apple is offering £580 for Pro Max 11 ; mazuma are now offering £570!
I will have ~£500 of payments left on the Barclays contract. Add in the AppleCare pro-rata refund and I’ll probably be ~£130 better off this way. Then can buy the 12 Pro Max on monthly 24 payments.
Issue with this is waiting for payment on trade in. Can you trade in in store though I presume?
You don’t wait for the trade in payment. Apple discounts the price of the new phone based on the estimated trade in. You then do finance on the remaining amount. So you’ll need to stump up the settlement charge and won’t get it back (you’ll get the AppleCare refund back though)
you will get smaller monthly amounts though because of that - trading in my 11 I got trade in of £400 reducing my payments to £16pm. I had to pay the 360 settlement on my 11 first then got a £90 refund from AppleCare. So net cost to me was £250. I won’t get that back but the cheaper monthly cost over the next 12 months balances it out