Apple Reportedly Launching New Apple Upgrade Leasing Program on July 28

Apple plans to launch a new device leasing service called Apple Upgrade in the United States on July 28, according to a new report. The program will let customers pay lower monthly amounts for selected iPhone, iPad, Mac, and Apple Watch models.



Apple will reportedly work with Klarna to manage the Apple Upgrade program, while customers will need to complete a soft credit check before joining. The service will work like a hardware subscription, giving buyers more flexibility than a standard installment plan.



How Apple Upgrade Will Work



The reported lease period will run for 24 months on eligible iPhone and Apple Watch models, while Mac leases will continue for 36 months. Customers will have the option to pay off the device early, upgrade before the lease ends, keep the product after completing payments, or return it when the term finishes.



Some actions could include extra fees, depending on when the customer upgrades, pays off the device, or decides to keep it. AppleCare coverage will not come with the lease, so customers will need to purchase protection separately.



The program will also exclude several products, including the Apple Watch SE, base iPad, iPhone 16, and MacBook Neo. Apple will reportedly stop accepting new signups for the existing iPhone Upgrade Program after launching Apple Upgrade.



Apple raised prices for several iPad and Mac models last month, while upcoming iPhone models are also expected to cost more. The Apple Upgrade leasing program will give customers another way to spread hardware costs across longer payment periods.