Apple Upgrade adds flexible lease terms and Klarna financing option
Apple Upgrade adds flexible terms and Klarna financing for device leasing.
Event / Technology
Apple Upgrade Device Leasing Program
Apple launched Apple Upgrade, a new leasing program for iPhones, iPads, Macs, and Apple Watches through partnership with Klarna, offering monthly payments starting at $17.99-$24.99 with 12-36 month lease terms and options to return, purchase, or trade up devices.
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2026-08-14 to 2026-11-11 · UTC publication dates
Coverage begins 29 Jul, 02:18 UTC
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What happened
Apple launches Apple Upgrade device leasing program in U.S.
Apple Inc. launched Apple Upgrade, a new device leasing program in partnership with payment provider Klarna for iPhone, Apple Watch, Mac and iPad purchases in the United States. The program is available online, through the Apple Store app and at Apple Store retail locations.
Klarna handles Apple Upgrade credit approval process
Klarna, a Swedish digital bank and payment provider, handles the application process for Apple Upgrade. The application includes a soft credit inquiry that does not affect applicants' credit scores, with approvals available within minutes online or in stores.
Apple discontinues iPhone Upgrade Program and iPhone Payments
With the launch of Apple Upgrade, Apple will discontinue the iPhone Upgrade Program and iPhone Payments in the United States. Existing iPhone Upgrade Program customers will be able to switch to Apple Upgrade, finance purchases through Apple Card Monthly Installments, purchase devices outright or use carrier financing.
Apple Upgrade offers flexible lease terms and monthly payment options
Apple Upgrade offers 12- or 24-month leases for iPhone and Apple Watch, and 24- or 36-month leases for Mac and iPad. Monthly lease prices start at $17.99 for iPhone, $11.99 for Apple Watch, $24.99 for Mac and $11.99 for iPad. Customers can reduce monthly payments by trading in eligible devices through Apple Trade In and earn 3% Daily Cash back on lease payments made with Apple Card.
Apple Upgrade designed as true lease model unlike previous program
Unlike the previous iPhone Upgrade Program, Apple Upgrade is designed as a true lease rather than an installment financing plan. Customers do not automatically own the device after completing their monthly payments and must pay the remaining purchase amount to keep it permanently. This approach gives Apple more control over returned hardware, allowing the company to funnel leased devices into refurbished sales channels or recycling programs.
Apple Upgrade monthly leasing prices announced
Monthly pricing for Apple Upgrade begins at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad, and $24.99 for a Mac. Lease terms vary by product: iPhones and Apple Watches are available with 12- or 24-month agreements, while Macs and iPads can be leased over 24 or 36 months. Customers can return the device, purchase it with a final payment, or trade it in for a new lease at the end of the term.
Apple Upgrade provides payment flexibility for device purchases
Apple positioned the Apple Upgrade program as a way to provide greater payment flexibility as device prices continue climbing. Karen Rasmussen, Apple's vice president of Apple Store Online, stated the program offers customers a more flexible way to pay for Apple products. Customers paying with an Apple Card will continue to receive 3% Daily Cash rewards, and payments can be lowered by using the Apple Trade In program.
Apple iPhone Upgrade Program ends as customers transition to Apple Upgrade
Apple's iPhone Upgrade Program is being discontinued and replaced by the new Apple Upgrade program. Current participants in the existing iPhone Upgrade Program can finish paying off their current devices, but future upgrades will require customers to move to Apple Upgrade, use Apple Card Monthly Installments, buy devices outright, or use eligible carrier financing.
Apple Upgrade expands device leasing beyond smartphones
Apple Upgrade marks the first time Apple is expanding its leasing options beyond smartphones to include iPads, Apple Watches, and Macs. The program does not include every product in Apple's lineup, notably excluding the MacBook Neo, Apple's most affordable laptop.
Apple launches Apple Upgrade leasing program for devices
Apple officially launched a new leasing program called Apple Upgrade that allows customers to lease iPhones, iPads, Macs, and Apple Watches with monthly payments. The program is a partnership with Swedish fintech company Klarna and replaces Apple's long-running iPhone Upgrade Program. Customers can apply online, through the Apple Store app, or at Apple retail stores, with applications requiring a soft credit check that does not affect credit scores.
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Apple launches new device leasing program in United States
Apple launches Apple Upgrade, a true lease program replacing its previous iPhone Upgrade Program.