Apple Now Lets You Lease Your Next IPhone, IPad, Mac, or Apple Watch.
Apple products are notoriously expensive, and their prices are only rising . The ongoing memory crisis is only pushing companies like Apple to raise prices, which could discourage users from upgrading their current devices or switching platforms entirely. When you need to continue growing your business, this isn’t the best position to be in.
Perhaps that’s why Apple is asking you to forego purchasing its products altogether. While you can pay full price for any of its products, the company is launching a new program called ” Apple Upgrade ,” which lets you lease a new iPhone, iPad, Mac, or Apple Watch. Apple Upgrade is a partnership with Klarna, a company best known for its “buy now, pay later” model. Only this time, you’re not buying anything.
How does Apple update work?
Renting Apple Upgrade devices is not much different from leasing any other product. The company offers 12- and 24-month rental plans for iPhone and Apple Watch, and 24- and 36-month plans for Mac and iPad. Pricing varies depending on the product and its features, but Apple states that you can lease devices starting at:
-
$11.99 per month for Apple Watch
-
$11.99 per month for iPad
-
$17.99 per month for iPhone
-
$24.99 per month for Mac
Prices can be even lower if you have a qualifying device to trade in when you lease. You can also earn 3% of your lease amount back through the Daily Cash program when you use your Apple Card to lease. You can apply for the program online or in person at an Apple Store. Klarna will conduct a soft credit check, which, according to Apple, will not affect your credit score. You can also track all your payments and billing schedules in the Klarna app.
At the end of your lease, you have three options: upgrade to the latest version of the device, purchase it for a one-time fee, or return the device and decline the Apple Upgrade.
What will happen to the iPhone Update Program?
Apple is discontinuing the iPhone Upgrade Program and iPhone Payments and replacing them with the Apple Upgrade Program. Therefore, if you currently participate in the iPhone Upgrade Program, you can lease a new device through Apple Upgrade, finance a device with Apple Card Monthly Installments, buy an iPhone, or switch to your carrier for a finance plan.
Which devices are eligible for the Apple Upgrade?
While the Apple Upgrade program covers all the latest Apple products, not all products currently sold by Apple are eligible. Therefore, by registering for the Apple Upgrade program, you can purchase any of the following products:
-
iPhone 17
-
iPhone 17 Pro
-
iPhone 17 Pro Max
-
iPhone Air
-
iPhone 17e
-
Apple Watch Series 11
-
Apple Watch Ultra 3
-
MacBook Air M5 (13-inch and 15-inch)
-
MacBook Pro m5, m5 Pro, and m5 Max (14-inch and 16-inch)
-
iMac M4
-
Mac Studio M3 Ultra and M4 Max
-
iPad Air
-
iPad Pro
-
iPad mini
Some products are not included in this list. The iPhone 16, iPhone 16 Plus, Apple Watch SE, MacBook Neo, Mac mini, iPad (A16), and Apple Studio Display are not eligible for the Apple Upgrade Program. Therefore, you will need to purchase these products at full price.