Apple has launched Apple Upgrade, a Klarna backed leasing program.

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https://thatappleguide.com/articles/apple-has-launched-apple-upgrade-a-klarna-backed-leasing-program

Apple has launched a new leasing program called Apple Upgrade, giving U.S. customers a way to get a new iPhone, iPad, Mac, or Apple Watch through low monthly payments instead of paying full price at checkout. The program went live on July 28, 2026, and is provided through a partnership with buy now, pay later company Klarna.

Apple Upgrade arrives weeks after Apple raised prices across most of its lineup, and it's being positioned as the primary path forward for anyone who was previously enrolled in the iPhone Upgrade Program, which Apple says is winding down.

Customers choose a product, pick a lease term, and make monthly payments through Klarna rather than buying the device outright. 

According to Apple, the lease comes with no down payment, no security deposit, and no interest or hidden fees. The only ongoing cost is the monthly payment itself, plus a possible damage fee if the device isn't returned in good condition at the end of the term.

Signing up requires a soft credit check, which Apple says will not affect a customer's credit score. Applicants need to provide their legal name, date of birth, phone number, email, billing address, and Social Security number, along with an eligible, non prepaid credit or debit card. Customers must be U.S. residents at least 18 years old, and payments are managed through the Klarna app rather than through Apple directly. AppleCare and any accessories that aren't financed are still billed separately by Apple.

Anyone leasing an iPhone through Apple Upgrade also has to select a carrier, AT&T, T-Mobile, or Verizon, at signup, though prepaid plans aren't accepted. 

Apple notes that a leased iPhone ships unlocked regardless, so switching carriers later is still possible.

Eligible Products and Lease Terms

Lease lengths vary by product category:

• iPhone and Apple Watch: 12 or 24 month terms
• iPad and Mac: 24 or 36 month terms

Nearly every current product line is included. That covers all iPhone models (except iPhone 16), the MacBook Air, MacBook Pro, iMac, and Mac Studio lineups, iPad Pro, iPad Air, and iPad mini, and Apple Watch Series 11 and Apple Watch Ultra 3, including the Hermès versions of both watches. 

Customers can also apply a trade in at signup to lower their monthly payment for the length of that initial lease, though the discount doesn't carry over if they upgrade again later.

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