Frank Rondel
Apple Upgrade program could change how Americans pay for iPhones, Macs, iPads, and Apple Watches. The leasing service is reportedly scheduled to launch in the United States on July 28, as the customreceipt.com editorial team notes.
Apple has not publicly announced the service. Klarna has also declined to comment on the report. The available details come from Bloomberg sources cited by several publications.
How the Apple Upgrade Program Will Work
The new service will resemble a car lease rather than a standard installment plan. Klarna will provide the financing and assume the related credit risk.
Customers will make monthly payments and choose between several options:
- pay off the device before the agreement ends;
- upgrade to a newer eligible model;
- keep the device after completing the required payments;
- return the device when the leasing period expires.
Applicants will reportedly undergo a soft credit check. Some transactions may also include additional fees. Exact monthly prices and early-upgrade conditions remain undisclosed.
The program promises lower monthly payments than Apple’s existing financing options. However, a smaller payment does not necessarily mean a lower total cost.
Which Apple Devices Will Be Eligible
Lease periods will depend on the product category.
| Device category | Leasing period |
|---|---|
| iPhone | 24 months |
| Apple Watch | 24 months |
| iPad | 36 months |
| Mac | 36 months |
Apple Upgrade will reportedly cover most current devices. Entry-level products will remain outside the program.
The excluded models reportedly include the iPhone 16, Apple Watch SE, base iPad, and MacBook Neo. Business and education purchases will not qualify either.
AppleCare Will Not Be Included
AppleCare coverage will not be bundled with the new leasing agreement. Customers seeking accidental-damage protection may need to purchase it separately.
Apple also plans to stop accepting new applications for its existing iPhone Upgrade Program and standard financing plans. Current agreements are not expected to disappear immediately.
The initial rollout will be limited to the United States. No confirmed timetable exists for Europe, Canada, or other markets.
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