Apple Leasing Program: Device Upgrades Made Easy – What You Need to Know

Apple is reportedly working on a leasing program for device upgrades, offering a new way to get the latest iPhones, iPads, Macs, and Apple Watches without paying the full price upfront. Called Apple Upgrade, this subscription-like service could launch in the US as early as July 28, according to Bloomberg's Mark Gurman. If you've ever wished you could lease a phone like a car, this might be the answer. How the Apple Upgrade Program Works The program will cover Apple's most popular devices and use Klarna as the financing partner. Here's a quick breakdown of the payment terms: iPhones and Apple Watches: 24 monthly payments Macs and iPads: 36 monthly payments At the end of your lease, you have three choices: keep the device, return it, or upgrade to a newer model. Some transactions may include an extra fee. Apple Upgrade vs. iPhone Upgrade Program Apple already has an iPhone Upgrade Program that bundles AppleCare+ and lets you upgrade after 12 payments. The new Apple Upgrade program is different: No AppleCare+ included (you can add it separately) Requires a soft credit check May lead to fewer new sign-ups for the older program Is It Worth the Cost? Without official pricing, it's hard to say if Apple Upgrade will be a good deal. But for frequent upgraders who hate paying a lump sum, lower upfront costs can make sense—even if you end up paying more over time. Think of it like leasing a car: you pay for convenience and flexibility. Tips for Potential Subscribers Compare total lease cost vs. outright purchase price Check if you can add AppleCare+ separately Consider your upgrade cycle – if you change devices every 1-2 years, leasing might save you hassle Stay tuned for Apple's official announcement. Until then, keep an eye on Apple's website or your favorite tech news source.