Overview
- Apple rolled out Apple Upgrade in the United States as a Klarna‑run leasing option that replaces the old iPhone Upgrade Program and appears in Apple’s online store, app, and physical stores.
- Leases are device‑specific with iPhone and Apple Watch offered for 12‑ or 24‑month terms and Mac and iPad offered for 24‑ or 36‑month terms, with starter monthly prices beginning at $17.99 for iPhone, $11.99 for Apple Watch, $24.99 for Mac, and $11.99 for iPad.
- Customers sign up with a soft credit check through Klarna that typically gives quick approval, and in‑store buyers can take devices home immediately while online orders are shippable or available for pickup.
- Lessee does not own the device during the term unless they pay the final buyout; at lease end customers can return the device, pay a one‑time sum to own it, or return it and start a new lease, and accounts that take no action convert to month‑to‑month billing before a default purchase charge may be applied.
- Apple excludes some entry models and accessories from the program and does not include AppleCare+ by default, which raises questions about damage, loss liability, early‑termination fees, and the true total cost for consumers.