Apple Upgrade now lets you lease iPhones, iPads, Macs, and Watches, starting at $18/month
What just happened? Apple has announced a new financing program called Apple Upgrade that offers eligible customers the option to lease its iPhones, Macs, Apple Watches, and other products instead of buying them outright. The program is available in the US through physical Apple Stores, as well as the Apple Store mobile app and website.
Apple Upgrade is being launched in partnership with digital financial services provider Klarna, known for its “buy now, pay later” interest-free credit. The new program replaces the iPhone Upgrade Program – a 0% APR financing plan that allowed consumers to buy a new iPhone every year, bundled with AppleCare+.
The new scheme offers 12- and 24-month leases for iPhones and Apple Watches, while Macs and iPads can be leased for 24 or 36 months. Apple says users will be able to sign up “in minutes” and receive quick approval, subject to a soft credit check. At the end of the lease period, users will be able to upgrade their device, purchase it outright, or return it and exit the program.
Eligible devices include the iPhone 17 lineup, iPhone Air, Apple Watch Series 11 and Watch Ultra 3, MacBook Air, MacBook Pro, iMac, Mac Studio, iPad Air, iPad Pro, and iPad mini. Older products like the iPhone 16 and entry-level offerings like the MacBook Neo, base iPad and Apple Watch SE are not part of the program.
Monthly lease payments for a base iPhone 17e starts at $17.99, a full $7 less than the $24.99 it would cost to buy it through monthly financing. The standard iPhone 17 would cost $22.99 per month, while the iPhone Pro would be $31.99 per month. iPad leases would start at $11.99 for the iPad mini and go up to $24.99 for the iPad Pro.
Macs will also be available to lease as part of the program, starting at $24.99 per month for the MacBook Air and $38.99 for the MacBook Pro. The Apple Watch Series 11 will start at $11.99 per month, while the Watch Ultra 3 will start at $24.99 per month. Cheaper devices, such as AirPods and AirTags, as well as niche products, like the Apple Vision Pro, are not part of the program.
