Apple Upgrade Leasing Service Launches July 28 in US

Apple is reportedly preparing to launch a new device leasing service called Apple Upgrade, which would allow customers to rent iPhones, Macs, iPads, and Apple Watches for three years. The program aims to reduce the initial cost of Apple hardware by spreading payments over time, offering an alternative to traditional outright purchases or carrier subsidies. This initiative signals a potential shift in how Apple handles device financing in the United States, which could make newer models more accessible to budget-conscious buyers who prefer predictable monthly bills.

Apple partners with Klarna for 36-month device leases

The service relies on a partnership with Klarna Group Plc, which will provide the financial backing for the leases. Customers must pass a soft credit check before selecting an eligible device, a standard requirement for installment plans that minimizes impact on credit scores. The program is expected to support most current iPhone, Mac, iPad, and Apple Watch models, though specific exclusions apply to entry-level and older hardware.

Lease durations are set at 36 months, meaning users commit to three years of payments for their chosen device. The financial structure requires a soft credit check to approve applicants, ensuring they meet Klarna's lending criteria. Business and education purchases are not eligible for this program, and AppleCare is not included in the lease cost. These restrictions narrow the target audience to individual consumers rather than institutional buyers.

Several devices are reportedly excluded from the program, including the MacBook Neo, entry-level iPad, iPhone 16, and Apple Watch SE. Apple has not officially announced the Apple Upgrade service or confirmed the July 28 launch date, so these details remain unconfirmed. The program is expected to launch in the United States on July 28, pending official confirmation from the company. Buyers should wait for an official statement before making financial decisions based on these reports.