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Apple Launches 'Apple Upgrade' Leasing Program

The Klarna-backed offering moves device purchases into fixed 12–36 month rental contracts and signals a broader shift toward recurring payments for Apple hardware.

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Apple plans to lease iPhones for $17.99 a month with Apple Upgrade. Learn monthly prices, eligibility, Klarna partnership and how the lease works. (Photographer: David Paul Morris/Bloomberg)
iPhone 17 vs iPhone 17 Pro.

Overview

  • Apple launched Apple Upgrade on Tuesday, July 28, making Klarna-backed leases available online, in the Apple Store app, and at U.S. Apple Store locations.
  • The program offers 12- and 24-month leases for iPhone and Apple Watch and 24- and 36-month leases for Macs and iPads with advertised starting payments as low as $17.99 for some iPhones.
  • At lease end customers can upgrade to a newer device, pay a one-time buyout to keep the device, or return it and exit the program, with a six-month month-to-month window if they take no action.
  • Applications use a soft credit check through Klarna that typically gives quick approvals but leases do not include AppleCare by default and can carry early-termination, damage, loss, or missed-payment consequences.
  • The program replaces Apple’s iPhone Upgrade Program and follows earlier Mac and iPad price rises, which analysts say shifts sticker shock into recurring monthly bills and may encourage faster device turnover.