CUPERTINO, California: Apple Upgrade launched in the United States on Tuesday, offering Klarna-provided leases for iPhone, Mac, iPad and Apple Watch from $11.99 a month.
Apple offers 12- and 24-month terms for iPhone and Apple Watch. Mac and iPad customers can choose 24- or 36-month leases, according to Apple’s announcement.
Monthly payments start at $17.99 for an iPhone, $11.99 for an Apple Watch, $24.99 for a Mac and $11.99 for an iPad. Klarna conducts a soft credit inquiry that does not affect the applicant’s credit score.
Customers can return the device, purchase it through a one-time payment or begin another lease for an eligible upgrade. An upgrade requires the customer to return the existing device and obtain new credit approval.
A lease automatically converts to a month-to-month agreement for up to six months if the customer takes no action when the original term ends. Klarna will then charge the contractual purchase fee if the customer still does not respond.
Trade-in credits can reduce monthly payments. Apple Card customers can also earn 3% Daily Cash on lease payments.
AppleCare does not form part of the lease. Customers can purchase AppleCare+ or AppleCare One separately.
The programme excludes the iPhone 16, iPhone 16 Plus, Apple Watch SE, MacBook Neo, Mac mini, iPad with the A16 chip and Studio Display.
Read: Apple Mac Roadmap Adds Touchscreen OLED MacBook Pro
Apple discontinued new enrolments in the iPhone Upgrade Program and iPhone Payments following the launch. Apple Card Monthly Instalments remain available for eligible purchases.
Apple Upgrade is limited to eligible US residents and purchases through Apple’s online store, retail app and physical US stores.