Apple has opened a leasing program that spreads the cost of its phones, watches, tablets, and computers into monthly payments. Available starting today across the United States, Apple Upgrade runs through Klarna and gives eligible customers a way to walk out with hardware without paying the full price up front.
Apple has officially launched the "Apple Upgrade" program:
"Introducing Apple Upgrade, a new way to always have the Apple products you love. Lease a new iPhone, iPad, Mac, or Apple Watch with pocket-friendly payments and terms that work for you. Then easily upgrade to something… pic.twitter.com/i7m5QJJrVd
— Aaron (@aaronp613) July 28, 2026
Customers select a device on the Apple website, in the Apple shop app, or in a physical shop, select a lease term, and fill out a quick application. Klarna performs a soft credit check, which has no effect on a credit score. Approval is generally granted within minutes. Once cleared, the first payment arrives approximately 30 days after the device ships or is picked up. No security deposit is required. Lease lengths vary per product. The iPhone and Apple Watch plans are for 12 or 24 months. Mac and iPad plans are for 24 or 36 months. Monthly costs begin at $17.99 for an iPhone, $11.99 for an Apple Watch, $24.99 for a Mac, and $11.99 for an iPad. These values do not include taxes or any trade-in credits.
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A few concrete examples demonstrate how the numbers land. An iPhone 17 Pro with 256 GB storage costs $1,099 and may be leased for $31.99 per month for 24 months or $45.99 per month for 12 months. An Apple Watch Series 11 GPS device, priced at $399, costs $11.99 each month for 24 months. An 11-inch iPad Pro with 256 GB at $1,199 is $24.99 a month for 36 months. A 14-inch MacBook Pro with 16 GB of memory starts at $1,999 and costs $38.99 per month for 36 months. Trading in your current device through Apple Trade In will help you save even more money each month. Paying the lease with an Apple Card offers you 3% Daily Cash back on each payment. AppleCare is not included in the leasing fee, but consumers can subscribe to AppleCare+ or AppleCare One for additional accident, theft, and loss coverage, as well as easier returns and upgrades.
At the end of the term, three paths emerge. Customers can choose to return the device and leave the program, pay a one-time purchase fee to keep it, or begin a fresh lease on a newer model after returning the old one. Upgrades require a new credit check and contract, and the new monthly payment may be higher. If no decision is made by the end of the original period, the lease will automatically become a month-to-month arrangement for up to six months. Payments may increase over time, and if nothing is settled after six months, Klarna will charge the purchase fee.
Apple has discontinued new enrollments in the previous iPhone Upgrade Program and iPhone Payments plans. People who are currently enrolled in those programs can continue to make their payments as scheduled. When their upgrade opportunity arrives, customers will be given the option of switching to Apple Upgrade, Apple Card Monthly Installments, purchasing a device outright, or carrier financing. Not all products qualify. The iPhone 16 and 16 Plus, Apple Watch SE, MacBook Neo, Mac Mini, base iPad with A16 chip, and Studio Display are not part of the program. Customers who lease an iPhone must select AT&T, T-Mobile, or Verizon service. Prepaid plans are not permitted, however the phones remain unlocked and can be transferred to another carrier in accordance with the carrier’s policies.
