Apple launches Upgrade leasing program for iPhone, Mac, iPad and Watch in the U.S.
Apple introduced a lease-to-own service called Apple Upgrade, allowing U.S. customers to lease iPhones, Macs, iPads and Apple Watches with flexible terms and the option to upgrade, purchase or return the device at lease end.
Apple announced a new leasing service, Apple Upgrade, that is now available to U.S. consumers through the company’s website, the Apple Store app and retail locations. The program, which is administered by Klarna, lets customers lease iPhones, Apple Watches, Macs and iPads for periods ranging from 12 to 36 months and upgrade to a newer model at the end of the term, purchase the device outright, or return it.
Leasing rates start at $17.99 per month for the iPhone 17e and $11.99 per month for the Apple Watch Series 11, with MacBook Air leases beginning at $24.99 per month and iPad mini leases at $15.99 per month. Longer-term options are offered for Macs and iPads, while iPhone and Watch leases are available in 12- and 24-month plans. Customers can trade in existing devices, including Android phones, to reduce monthly payments, and eligibility is determined through a soft credit check that does not affect credit scores.
Payments and credit approvals are handled through the Klarna app, and AppleCare can be added for an additional monthly fee. At lease completion, users may upgrade early by paying the remaining balance, continue on a month-to-month basis for up to six months, or fulfill the purchase price to own the device. Missed payments are rolled into the next month’s bill, with no late fees, but three consecutive missed payments terminate the agreement and require full payment of the outstanding balance.
The service excludes certain models, such as the iPhone 16 series, Apple Watch SE, Mac mini and Studio Display, and is not available with education pricing. iPhone leases must be paired with AT&T, T-Mobile or Verizon postpaid plans, though the devices remain unlocked. Apple also announced that the existing iPhone Upgrade Program and iPhone Payments financing will be phased out, with current participants able to transition to the new options when they choose to upgrade.
Customers who use an Apple Card for lease payments can earn 3% Daily Cash on those payments.