Apple has announced its partnership with Klarna to offer a new device leasing program in the United States.
The program, called Apple Upgrade, allows customers to lease an iPhone, iPad, Mac or Apple Watch directly from the Apple Store online or the companies retail locations.
Apple Upgrade terms are between 12 to 36 months long, depending on the product bought:
- iPhone: 12 or 24 month term
- Apple Watch: 12 or 24 month term
- iPad: 24 or 36 month term
- Mac: 24 or 36 month term
The company is promoting that customers can now get a new iPhone for as "low as $17.99 per month", whilst the cheapest plans available are for Apple Watch and iPad, starting from $11.99. Presumably, these prices are for their entry-level products, such as iPhone 17e and Apple Watch SE 3.
The process requires an approval from Klarna, which Apple says only takes "minutes", and that applications will require a soft credit check "that will not impact [your] credit score."
When the term ends, customers will have the choice to upgrade, buy, or return the device. By upgrading you remain in the program, and if you opt to buy the device, it requires a one-time payment.
Apple has cancelled the iPhone Upgrade program in favour of the new leasing system, and existing customers will be given the chance to join Apple Upgrade.
This program comes just over a month after Apple hiked prices, in what appears to be an effort to prevent a drop in sales.
