Apple Upgrade is here and it’s going to change the way we get a new iPhone, Mac, Apple Watch and iPad
Lease an iPhone, Mac, iPad or Apple Watch and either give it back, upgrade or pay it off to own outright. Meet the new Apple Upgrade program for US customers.
Apple has officially announced the Apple Upgrade program, which will enable people in the United States to lease an iPhone, Apple Watch, iPad or Mac and then upgrade to the latest version when the term is up.
The company has confirmed the partnership with financing platform Klarna, which will allow people to get their hands on the latest iPhone for as little as $17.99 a month on or 12-24-month lease. The Apple Watch will be available for as little as $11.99 a month on the same one or two year deal.
iPad and Mac leases are available over 24- and 36-month terms, with Mac leases beginning at $24.99 and iPads starting at £11.99. The longer the term you choose, the cheaper the monthly fee. In the case of the iPhone 17 Pro 256GB it’s $14 cheaper per month if you go for two years instead of twelve months.
If you’ve got an existing device to trade-in when opening the account, you’ll get a lower rate. Apple Card holders will also get 3% back as Daily Cash. You’ll still need to buy AppleCare if you want protection for those devices. Otherwise, it appears, you’ll be liable for the damages to the leased or lost devices.
When the term ends, users can simply upgrade to the next model, hand the device back and cease paying, or make a one-off payment to make the device their own. If you want an early upgrade there’ll be a fee associated with that too.
The iPhone 17 Pro 256GB, for example, is $31.99 a month for 24-months. That comes out to $767.76 in total. The phone buys $1,099 plus sales tax to buy outright. So will the one-off payment be the remaining balance to pay off the iPhone or something more significant? We have asked Apple for clarity on this front.
Overall, it will provide another option for Apple fans to get in on the new devices without paying full price upfront. That’s option is becoming more and more challenging amid ongoing price increases due to the RAM and storage crisis. It isn’t simply something that’ll be handed out all and sundry. There will be an application process that’ll depend on a soft credit check.
“Upon choosing their preferred leasing option, customers can apply within minutes — online or in-store — and receive quick approval from Klarna,” Apple explains in a newsroom post. “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.”
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Chris Smith
