Apple is reportedly set to launch a new U.S. financing program called Apple Upgrade on Tuesday, July 28, developed in partnership with Klarna. The program would cover most iPhone, iPad, Mac and Apple Watch models, with different terms depending on the product family.
Launch and scope
According to a report, Apple Upgrade will roll out in the United States on July 28 and leverage Klarna’s buy now, pay later platform. The initiative is intended to replace several existing financing options and — based on available information — may offer lower monthly payments than current solutions.
Financing terms
Apple Upgrade is said to standardize repayment periods: 24 months for iPhone and Apple Watch purchases, and 36 months for iPad and Mac purchases. Customers will be able to pay off their device early, opt for an early upgrade to a newer model, or choose to keep or return the device at the end of the contract.
Limitations, exclusions and conditions
Some entry-level SKUs are reportedly ineligible for the program. Cited exclusions include the Apple Watch SE, entry-level iPad, iPhone 16 and the MacBook Neo. Apple Upgrade will require a soft credit check, and additional fees may apply in some cases.
How this differs from the old iPhone Upgrade program
Apple plans to stop accepting new enrollments in the existing iPhone Upgrade program when Apple Upgrade launches. Unlike the prior iPhone Upgrade plan, the new offering apparently will not include AppleCare+ coverage.
Apple Upgrade is presented as a unified financing solution across multiple product lines, but it appears to omit certain benefits that were previously included. Precise pricing details — such as interest rates and exact fees — were not disclosed in the report.
What’s next
Absent further official announcements, customers will need to wait for Apple’s full terms to be published to learn the actual costs, exact model eligibility and available after-sales options.
