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Apple and Klarna launch new device leasing program
Fox Business • • general
Key Points:
- Apple and Klarna have partnered to launch Apple Upgrade, a leasing program in the U.S. that allows customers to lease iPhones, iPads, Macs, and Apple Watches with flexible terms ranging from 12 to 36 months.
- Leasing prices start as low as $17.99 per month for iPhone and $11.99 for Apple Watch, with options to trade in devices to reduce monthly payments, upgrade to the latest model, purchase the device outright, or return it at the lease end.
- Apple is discontinuing its previous iPhone Upgrade Program and iPhone Payments in favor of this new leasing model, which differs from traditional buy now, pay later (BNPL) loans by being structured as a lease.
- The partnership with Klarna reflects growing consumer interest in installment-based financing, with over half of Americans having used installment plans for online purchases according to recent surveys.
- Apple Upgrade is available for enrollment on Apple’s website and at U.S. Apple Store locations.
