Apple has officially announced Apple Upgrade, the company’s new product leasing program. It’s available starting today in the US. Apple is working with Klarna to let customers lease iPhones, Apple Watch, Macs, and iPads. Since this is a “lease”, Apple is making it easier for customers to upgrade at the end of the lease term.
These leases start as low as $11.99 per month, with 12-month and 24-month options for iPhone and Apple Watch, while the Mac and iPad have 24-month and 36-month leases.
Since this is a lease, it is technically cheaper than financing your product, as long as you plan on upgrading after the lease term is over. If you don’t upgrade when your lease is up, the lease then converts to month-to-month for up to six months, which may increase your payment each month. You also never own the device unless you pay the full amount.
Here’s how the pricing works with Apple Upgrade
With the lease pricing, you’re essentially paying about 66% of the price over the term. So, for instance, the iPhone Air is $41.99/month for 12 months, or $28.99/month for 24 months. That’s around $503 for the 12-month lease, or $695 for the 24-month lease. So obviously the 12-month lease is definitely the better bet here.
When it comes to the iPhone 17 Pro, pricing is $45.99 for 12 months, or $31.99 for 24 months. iPhone 17 Pro Max is $49.99 and $34.99, respectively.
If you’re looking at a new MacBook Pro, you can get a 16GB RAM/1TB Storage model for $53.99 for 24 months or $38.99 for 36 months. This may not make as much sense for a MacBook Pro, as these are usually good for way more than three years. But it is an option if you need a new MacBook right away.
Apple Watch and iPad leases start at $11.99 per month.
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