Overview
- The program, reported to start July 28, would let U.S. customers lease iPhones, iPads, Macs and Apple Watches with options to return, upgrade early, or pay off and keep the device.
- Leases are said to run 24 months for iPhones and Apple Watches and 36 months for iPads and Macs, with a soft credit check required at signup.
- Apple will reportedly drop new enrollments in the long‑running iPhone Upgrade Program and some entry models and business or education purchases will be excluded from Apple Upgrade.
- Unlike the iPhone Upgrade Program, AppleCare will not be bundled and reports warn some transactions may carry extra fees, raising questions about consumer protections and buy‑now‑pay‑later risks.
- The plan follows recent component‑driven price increases for Macs and iPads and would let Apple offer lower monthly payments without carrying the loans on its own balance sheet by using Klarna as the financier.