Apple today launched Apple Upgrade in the United States, a lease-style program that lets customers finance most iPhone, Apple Watch, iPad and Mac models via monthly payments managed by Klarna. At the end of the term, customers can return the device and upgrade to a new one, or buy it outright by paying the remaining balance between the retail price and payments already made.
Apple Upgrade: how it works and key terms
Apple Upgrade operates like a subscription for Apple hardware. Lease agreements are administered by Klarna, while Apple offers the program. Term lengths and monthly payments vary by product category: most iPhones and Apple Watches are offered on 24‑month plans, while iPad and Mac leases run for 36 months. Apple states that, under no circumstances, customers will pay more than the device’s retail price in total.
Example starting prices
Apple’s launch pricing (as provided by Apple) includes:
– iPhone: from $17.99/month for 24 months (iPhone 17e); iPhone 17 from $22.99/month; iPhone Air $28.99/month; iPhone 17 Pro $31.99/month; iPhone 17 Pro Max $34.99/month.
– Apple Watch: Series 11 from $11.99/month (24 months); Ultra 3 $24.99/month; Hermès editions from $40.78/month and $47.03/month for the Hermès Ultra 3 (24 months).
– iPad: iPad mini $11.99/month, iPad Air $15.99/month, iPad Pro $24.99/month (all on 36 months).
– Mac: MacBook Air from $24.99/month, iMac $28.99/month, MacBook Pro $38.99/month, Mac Studio $48.99/month (all on 36 months).
If a model is not listed above, it is not currently eligible for Apple Upgrade.
Returns, final purchase and cost cap
At lease-end customers have three options: return the device and terminate the subscription, return it and swap for a new device, or purchase it by paying the remaining balance (retail price minus payments already made). Apple emphasizes that the total amount paid will never exceed the device’s original retail price.
Excluded models and availability
Several devices are excluded from the program at launch, including the iPhone 16, Apple Watch SE, entry-level iPad, MacBook Neo and Mac mini. Apple Upgrade is currently available only in the United States.
Where to learn more
Full terms and details are available on Apple’s website. Klarna handles the financing and contract management and is responsible for payment terms and the contractual relationship.
Apple Upgrade introduces a structured leasing option for customers who want to refresh hardware regularly without paying more than retail — a model that could change how some consumers access Apple products, at least while the program remains limited to the U.S. market.
