Apple Introduces Upgrade Leasing Program for iPhone, iPad, Mac and Watch
Apple's new Upgrade leasing service lets customers rent devices for 12 to 36 months with the option to purchase at the original list price after the lease term.
Apple announced the Upgrade program, a leasing option for iPhone, iPad, Mac and Apple Watch that runs for 12 to 36 months. Participants can obtain a device with low monthly payments, no down payment, and no interest or additional fees. At the end of the lease, users may buy the product for the difference between the list price and the total lease payments made. For example, the base iPhone 17 Pro priced at $1,099 can be leased for $31.99 a month over 24 months, after which the remaining balance would be about $330 if the customer chooses to purchase. Apple describes the arrangement as a zero-interest loan that allows customers to spread the cost of a new device. The company notes that continually swapping devices through the program would increase overall expense, but the option provides a more flexible path to ownership.
"The buyout price is simple: list price minus lease payments you’ve made," an Apple spokesperson said. The program launches amid recent price increases across Apple’s product line, offering an alternative financing method for consumers.