Apple Upgrade leasing program launches for iPhone, Mac, iPad, and Apple Watch

Key Points:

• Apple has launched Apple Upgrade, a new leasing program available in the U.S. that allows customers to lease iPhones, Apple Watches, Macs, and iPads with flexible upgrade options at lease end, backed by Klarna for payment and credit management.
• Leasing terms vary by device: iPhones and Apple Watches offer 12- or 24-month leases, while Macs and iPads have 24- or 36-month options, with monthly payments starting as low as $11.99 for Apple Watch Series 11 and $17.99 for iPhone 17e.
• Customers can trade in existing Apple or Android devices to reduce lease payments, undergo a soft credit check that doesn't affect credit scores, and manage payments via the Klarna app; AppleCare is optional and available at an additional monthly cost.
• At lease end, users can upgrade to a new device, purchase their current device by paying the remaining balance, or return it without extra fees; early upgrades or lease exits are also permitted with no interest or penalties.
• The program excludes certain devices like iPhone 16 models, Apple Watch SE, Mac mini, and Studio Display, requires iPhone leases to connect to AT&T, T-Mobile, or Verizon postpaid plans, and replaces Apple’s previous iPhone Upgrade Program and financing options.