New program replaces iPhone Upgrade Program, offering flexible leasing options for Apple devices with no security deposit required.
Apple introduced a device leasing program, Apple Upgrade, in partnership with Klarna, available at Apple Store locations and online in the U.S. Monthly payments start at $17.99 for iPhone, $11.99 for Apple Watch and iPad, and $24.99 for Mac.
The program offers 12- or 24-month terms for iPhone and Apple Watch, and 24- or 36-month terms for Mac and iPad. No security deposit is required, and the application involves only a soft credit check. Customers can choose to upgrade, purchase, or return devices at the end of the lease term.
Apple is discontinuing its iPhone Upgrade Program and iPhone Payments in the U.S. Existing customers can transition to the new leasing option, Apple Card Monthly Installments, or other financing methods. Apple Card users earn 3% Daily Cash back on lease payments.