Apple Debuts Apple Upgrade Leasing for iPhone, iPad, Mac

3 Minutes

Want the newest iPhone without the sticker shock? Apple just rolled out a leasing option that makes swapping into fresh hardware feel a lot less painful.

Called Apple Upgrade, the program partners with Klarna to let U.S. customers lease iPhones, Apple Watches, iPads, and Macs through the Apple Store online, the Apple Store app, or inside physical Apple Stores. It’s essentially a replacement for the old iPhone Upgrade Program, but broader: more device types and flexible term lengths.

Short leases are available for phones and watches. Longer terms apply to tablets and laptops. Specifically, iPhones and Apple Watches can be leased for 12 or 24 months, while iPads and Macs come with 24- or 36-month options. That variety gives buyers real choices: you can lean into frequent upgrades, or lock in a lower monthly cost over a longer stretch.

Prices look built around entry-level monthly payments, not full retail math. For example, the iPhone 17e starts at $17.99 per month; the iPhone 17 is $22.99; the iPhone Air lists at $28.99; and the iPhone 17 Pro begins at $31.99 per month. Tablets begin even lower: an iPad mini from $11.99 monthly, an iPad Air from $15.99, and an iPad Pro from $24.99. On the wearable front, the Apple Watch Series 11 starts at $11.99 per month while the Apple Watch Ultra 3 is about $24.99. MacBook Air leases begin at $24.99 per month and MacBook Pro models at $38.99.

Signing up is meant to be fast. Apple says you can apply within minutes and receive a quick decision. The financial background check is a soft credit inquiry, so your credit score won’t take a hit just for applying. When your lease term ends, you’ll have three clear options: upgrade to the latest model, buy out the device with a one-time payment, or simply return it. You can also add an AppleCare plan during the lease if you want coverage.

This approach mirrors broader shifts in consumer tech: ownership is optional. Want the newest camera system every year? Choose a shorter lease. Want predictable, lower monthly payments and fewer upgrade headaches? Opt for a longer term. Leasing isn’t for everyone, but it’s a tidy option for those who value flexibility and regular refreshes over full ownership.

Apple Upgrade lands first in the United States, and it will be interesting to see whether Apple expands the program globally and how customers respond once real-world trade-in and upgrade cycles start rolling.

Quick approval, soft credit checks, and the choice to upgrade, buy, or return—Apple is betting many will prefer access over ownership.