Apple is set to introduce a new leasing initiative, the ‘Apple Upgrade’ program, in collaboration with Klarna, a prominent ‘buy now, pay later’ service. This program is scheduled to launch in the United States on Tuesday, July 28, 2026.
The ‘Apple Upgrade’ program offers customers the opportunity to lease a variety of Apple products, including most models of the iPhone, iPad, Mac, and Apple Watch. The leasing terms are structured as follows: 24 months for iPhones and Apple Watches, and 36 months for iPads and Macs. Participants will have the flexibility to pay off their devices early, upgrade to newer models before the term concludes, or choose to keep or return the device at the end of the lease period.
It’s important to note that certain lower-priced devices are excluded from this program. Specifically, the Apple Watch SE, the entry-level iPad, the iPhone 16, and the MacBook Neo will not be eligible for leasing under the ‘Apple Upgrade’ program.
In contrast to the existing iPhone Upgrade Program, the new ‘Apple Upgrade’ initiative does not include AppleCare+ coverage as part of the monthly payment. This change is expected to result in lower monthly payments for participants. AppleCare+ will remain available as a separate purchase for those who wish to add it to their devices.
With the introduction of the ‘Apple Upgrade’ program, Apple plans to discontinue new sign-ups for the current iPhone Upgrade Program. However, existing members of the iPhone Upgrade Program will be allowed to continue their participation for the time being.
By partnering with Klarna, Apple aims to provide a more flexible and affordable financing option for its customers. This move reflects a broader trend in the tech industry towards offering consumers more adaptable payment plans, catering to the growing demand for financial flexibility in purchasing high-end technology products.
