Apple Will Now Let You Lease Your Next iPhone, iPad, Mac, or Apple Watch
Apple is launching Apple Upgrade in partnership with Klarna, offering monthly leasing plans for devices with options to upgrade or buy at the end of the term.
Stock photo for illustration only, not from the actual event
- Apple is launching "Apple Upgrade," a new leasing program in partnership with Klarna.
- The program offers 12 and 24-month plans for iPhone and Apple Watch, and 24 and 36-month plans for Mac and iPad.
- Customers can apply online or in-store, with Klarna performing a soft credit check that won't affect credit scores.
- At the end of the lease, users can upgrade, buy the device outright, or return it.
Apple products are famously expensive, and they are only getting pricier. The ongoing memory crisis has put pressure on companies to raise prices, which could dissuade users from upgrading their current devices or switching platforms entirely. Perhaps this is why Apple is inviting customers to skip buying its products altogether by rolling out "Apple Upgrade," a new program that lets you lease an iPhone, iPad, Mac, or Apple Watch instead.
Apple Upgrade is a partnership with Klarna, the company best known for its "buy now, pay later" model, though this time customers are not buying anything outright. Leasing from Apple Upgrade operates much like leasing any other product, offering flexible timelines depending on the hardware category.
The company offers 12 and 24-month leasing plans for iPhone and Apple Watch, and 24 and 36-month leasing plans for Mac and iPad. Pricing depends on the specific product and configuration. These costs can also drop further if you have an eligible device to trade in, and users can earn back 3% Daily Cash by setting up their lease with an Apple Card.
Stock photo for illustration only, not from the actual event
Applications can be completed either online or in person at an Apple Store. Klarna performs a soft credit check that Apple states will not affect your credit score, and all payments and billing schedules are tracked directly within the Klarna app.
Shifting toward hardware leasing models highlights how major tech companies are adapting to rising manufacturing costs and hardware prices by lowering the barrier to entry for consumers. Partnering with a fintech service like Klarna transforms major upfront hardware purchases into manageable recurring payments, helping secure long-term ecosystem retention and steady revenue streams.
Once your lease term is up, you have three distinct options: upgrade to the latest version of the device, buy it with a one-time payment, or return the device and exit Apple Upgrade. Apple is officially ending the iPhone Upgrade Program and iPhone Payments to replace them entirely with this new initiative.
While Apple Upgrade covers many of the latest products, not everything Apple sells is eligible. Items such as the MacBook Neo, iPad (A16), Apple Watch SE 3, iPhone 16, iPhone 16 Plus, Apple Watch SE, Mac mini, and Apple's Studio Display are excluded, meaning customers must purchase those items at full price.
Source: Lifehacker
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