AI Generated Image
Apple Upgrade: 20 Things to Know Before Leasing an iPhone, iPad, or Mac
MacRumors • • general
Key Points:
- Apple has replaced its iPhone Upgrade Program with a new Apple Upgrade leasing option in partnership with Klarna, offering cheaper monthly payments for iPhones, iPads, Macs, and Apple Watches exclusively in the U.S.
- Leased iPhones are unlocked but require selecting a carrier at checkout; only postpaid plans are supported, and ownership of the device is only obtained by paying off the lease at the end.
- Missing payments results in no late fees but can lead to lease termination after three missed payments, with the full balance due; AppleCare+ is not included and must be purchased separately.
- The program excludes certain products like iPhone 16 models and refurbished devices, does not offer educational discounts, and requires payments via debit or ACH, excluding credit cards and some online banking apps.
- Customers can trade in old iPhones at lease initiation with trade-in value spread over monthly payments, can end or buy out leases early without penalties, and the program involves only a soft credit check that does not impact credit scores.
