Apple introduces ‘Upgrade’ program to lease a Mac, iPhone, iPad, or Apple Watch

Apple introduces ‘Upgrade’ program to lease a Mac, iPhone, iPad, or Apple Watch

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Last month, Apple dramatically increased the prices of many of its devices, largely due to the industry-wide memory shortage known as RAMageddon. This month, it gives consumers some relief. Kind of.

Apple officially launched a new lease program today called Apple Upgrade. If the cost of buying a new iPhone, iPad, Mac, or Apple Watch brings you to your knees, Apple Upgrade lets you lease the device for as little as $11.99 per month. Although it is not actually lowers the price of Apple products, changing perceived costs by exchanging full price shocks for a predictable lower monthly payment. The psychology of price!

This is the first time that Apple has expanded its leasing options beyond just smartphones. In addition to iPhones, the new Apple Upgrade program also includes iPads, Apple Watches, and Macs, although not all products on Apple’s list are included. Notably, the MacBook Neo – Apple’s most affordable laptop – is not available in the program. Lease prices start at $17.99 per month for iPhones, $11.99 per month for iPads and Apple watches, and $24.99 per month for Mac devices. Leases are valid for 12 or 24 months for both iPhones and Apple Watches and 24 or 36 months for iPads and Macs.

Once your lease is up, you have a few options. You can upgrade your device, keep it for a one-time fee, or return it to an Apple store and cancel the program entirely. Although Apple hasn’t said how much that one-time purchase will be, it will be the total value of the phone minus your lease payments. So, not exactly a deal.

Apple Upgrade is powered by Klarna. So, just like with a credit card, you’ll need approval before you can participate. Apple says applying takes just minutes and requires a soft credit check that won’t affect your score. Once approved, you will be able to track your rental and payment information through the Klarna app.

Here’s a quick look at some sample prices (minus taxes):

  • iPhone 17 Pro (256GB) – $1,099 $31.99/month with a 24-month lease or $45.99/month with a 12-month lease

  • iPhone Air (256GB) – $999 $28.99/month with a 24-month lease or $41.99/month with a 12-month lease

  • iPad Pro, 11-inch (256GB, WiFi) – $1,199 $24.99/month with a 36-month lease or $31.99/month with a 24-month lease

  • iPad Air, 11-inch (128GB, WiFi) – $749 $15.99/month with a 36-month lease or $19.99/month with a 24-month lease

  • MacBook Pro, 14-inch (M5 chip, 16GB RAM, 1TB SSD) – $1,999 $38.99/month with a 36-month lease or $53.99/month with a 24-month lease

  • MacBook Air, 13-inch (M5 chip, 16GB RAM, 512GB SSD) – $1,299 $24.99/month with a 36-month lease or $34.99/month with a 24-month lease

  • Apple Watch Series 11 (42mm, GPS) – $399 $11.99/month with a 24-month lease or $21.99/month with a 12-month lease

In case you missed it, Apple’s iPhone Upgrade Program is now dead. The Apple Upgrade program replaces it. If you’re on an existing iPhone upgrade plan, you can choose whether you want to move to Apple’s upgrade plan when your contract ends.

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