Buying or trading in your Apple devices for a newer one has long been common practice. But imagine getting a new iPhone, Mac, or iPad on a lease instead of buying it outright.

Apple is now making that possible with Apple Upgrade, a new leasing programme for users in the United States, powered by Klarna, the popular buy-now-pay-later provider.

The move could be Apple’s answer to the rising cost of consumer electronics. DRAM and NAND memory prices continue to climb as AI data centres consume more of the world’s chip supply, making devices increasingly expensive. Leasing could make paying more than $1,500 for a device feel a little less painful.

What is Apple Upgrade?

Apple Upgrade replaces Apple's iPhone Upgrade Program in the United States, expanding leasing beyond iPhones to include Macs, iPads and Apple Watches. The programme allows eligible customers in the US to lease an iPhone, Mac, iPad, or Apple Watch instead of purchasing one outright.

Unlike carrier financing plans, Apple Upgrade is handled through Klarna rather than a mobile carrier. Carrier lease programmes typically lock you into a specific network but can sometimes offer lower monthly payments because repayment periods may extend to 36 months for phones.

Apple Upgrade offers:

  • 12- or 24-month leases for iPhones and Apple Watches.
  • 24- or 36-month leases for Macs and iPads.

Monthly payments start at:

  • $17.99 for an iPhone
  • $24.99 for a Mac
  • $11.99 for an iPad or Apple Watch

Announcing the programme, Apple said in a blog post:

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