Apple introduced a new device leasing initiative in the United States on July 28, partnering with payments company Klarna to offer customers flexible monthly payment options for multiple product categories. The program, named Apple Upgrade, consolidates and replaces the company’s previous iPhone Upgrade Program and iPhone Payments offerings in the country.
The leasing terms vary by product type. Customers can rent iPhones and Apple Watches under either 12- or 24-month agreements, while Macs and iPads are available through 24- or 36-month plans. Monthly payment amounts begin at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad, and $24.99 for a Mac.
The application process involves a soft credit check administered by Klarna that does not impact applicants’ credit scores. Customers have the option to reduce their monthly payments by trading in an existing device. Additional benefits include earning 3% cash back when payments are made using an Apple Card.
Upon lease completion, customers have three options: return the device, purchase it through a single payment, or upgrade to a newer model. Existing members of Apple’s iPhone Upgrade Program will have the opportunity to transition to the new leasing plan when they become eligible, though they may also choose to use Apple Card monthly installments, pursue carrier financing, or make an outright purchase.
The program is accessible through Apple’s website, mobile application, and physical U.S. retail locations.
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