Want a new iPhone, iPad, Mac, or Apple Watch without actually owning it? Apple has a plan for that. Called Apple Upgrade, the new hardware leasing program lets eligible customers in the United States pay monthly for selected Apple devices through Klarna. Yes, it looks like having a credit card isn’t enough—Apple is getting into the hardware leasing business, too.
Lease terms run for 12 or 24 months on iPhone and Apple Watch, and 24 or 36 months on Mac and iPad. Monthly payments start at US$17.99 for an iPhone, US$11.99 for an Apple Watch, US$24.99 for a Mac, and US$11.99 for an iPad. Trading in an existing device can lower the monthly damage, while paying with Apple Card earns 3 percent Daily Cash.
Once the lease ends, you can return the device and walk away, start a new lease to upgrade, or pay a one-time purchase fee to keep it. Yes, you read that correctly: completing every scheduled lease payment does not make the device yours.
Applications involve a soft credit inquiry handled by Klarna, and early termination could bring substantial fees. The program is available through Apple’s online store, Apple Store app, and physical stores across the U.S.
Apple Upgrade also replaces the company’s outgoing iPhone Upgrade Program and iPhone Payments. Welcome to the age of subscribing to your hardware. Apple. You can learn more about this new upgrade program here.
Image: Apple.
