Apple has introduced a new leasing programme called Apple Upgrade, giving customers in the US another way to get their hands on the company's latest devices without paying the full amount upfront. The announcement comes just weeks after Apple increased the prices of several products, including MacBooks, iPads and HomePod speakers.
The company had recently hinted that rising manufacturing costs, driven by supply chain challenges and higher memory prices, made a price revision necessary. With the iPhone lineup also expected to become more expensive this year, the new programme could make upgrading to the latest Apple devices a little easier for some buyers.
Apple Teams Up With Klarna
To roll out the new programme, Apple has partnered with Klarna, which will handle the leasing service. Customers can choose between different lease durations depending on the device they want to buy.
For iPhones and Apple Watch models, Apple is offering 12-month and 24-month plans. Macs and iPads, meanwhile, can be leased for 24 or 36 months.
The process starts with a soft credit check, which Apple says will not affect an applicant's credit score. Those trading in an older Apple device while signing up can also bring down their monthly payments.
Once the lease period is over, customers can upgrade to a newer model, pay the remaining amount to keep the device, or simply return it if they no longer want it.
Apple is also adding an extra perk for Apple Card users. Customers paying their monthly instalments using the Apple Card will receive three percent Daily Cash back.
Which Devices Are Included?
Apple Upgrade covers the company's newest products, including the iPhone 17, iPhone 17e, iPhone 17 Pro and iPhone 17 Pro Max. Monthly lease prices for these phones start at $17.99.
The Apple Watch Series 11 and Apple Watch Ultra 3 are available from $11.99 per month.
On the Mac side, the programme includes the MacBook Air with the M5 chip, MacBook Pro models powered by M5, M5 Pro and M5 Max, iMac with M4, and Mac Studio with M4 Max and M3 Ultra chips. Lease prices for Macs begin at $24.99 per month.
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Apple has also added the iPad Air, iPad mini and iPad Pro, with plans starting at $11.99 a month.
That said, the programme doesn't cover every Apple product. Devices such as the iPhone 16, iPhone 16 Plus, Apple Watch SE, MacBook Neo, Mac mini, iPad with the A16 chip, and the Studio Display are not part of Apple Upgrade and will continue to be sold through Apple's regular payment options.