Apple Upgrade Leasing Program for iPhone, iPad, Mac, and Apple Watch Launches in the US

Apple is launching Apple Upgrade today, a new hardware leasing program that will let US customers lease an iPhone, Apple Watch, Mac, and iPad and upgrade to a newer device at the end of the lease term. Apple Upgrade is launching in partnership with Klarna, and it’s available today at Apple Store locations in the US, as well as the online Apple Store and the mobile app.

Apple Upgrade offers 12- and 24-month leasing options for the iPhone 17e, iPhone 17, iPhone Air, and iPhone 17 Pro and Pro Max, with prices starting at $17.99 per month. Customers can also lower their monthly lease payments by trading in the device they use through Apple Trade In.

Monthly lease payments start at $11.99/month for the Apple Watch Series 11 and Ultra 3, as well as the iPad mini, iPad Air, and iPad Pro. Mac leases start at $24.99/month for the M5 MacBook Air and MacBook Pro, the M4 iMac, and the latest Mac Studio.

Apple Upgrade is offered in the US as a payment option during the shopping experience in-store and online. “All applicants will be subject to a soft credit inquiry that will not impact their credit score. Once approved, they can complete their transaction as usual. In-store customers can enjoy their new device right away, while online customers can choose delivery or in-store pickup,” Apple explained today.

Customers who choose to purchase an Apple device through Apple Upgrade can still add an AppleCare subscription to protect their products. At the end of the lease term, they’ll be able to choose between upgrading to the latest generation, purchasing their leased device with a one-time payment, or returning it to leave the program.

“With the launch of Apple Upgrade, Apple will no longer offer the iPhone Upgrade Program and iPhone Payments in the United States. When eligible, customers currently enrolled in the iPhone Upgrade Program will have the option of leasing a new device with Apple Upgrade, financing with Apple Card Monthly Installments,6 purchasing the product outright, or choosing carrier financing,” Apple also explained today.

Apple is launching its new hardware leasing program just a couple of weeks after announcing price increases for most of its products except the iPhone and the Apple Watch. However, this is probably a matter of time before the ongoing memory crisis impacts the price of the two mobile products.