Apple announced a new leasing program called Apple Upgrade, partnering with Klarna to replace the iPhone Upgrade Program and iPhone Payments. The program offers monthly leases for iPhone, iPad, Mac and Apple Watch, with prices starting at $17.99 for iPhone, $11.99 for Apple Watch, $24.99 for Mac and $11.99 for iPad. Customers can choose 12‑ or 24‑month terms for iPhone and Apple Watch, and 24‑ or 36‑month terms for Mac and iPad. AppleCare+ is optional and not included in the lease price.
The program requires a credit check and a Klarna account, and is available to U.S. residents aged 18 or older with a valid SSN or ITIN. Devices must be unlocked; leases are managed through the Klarna app. Lease participants may return the device at the end of the term, pay the remaining balance to keep it, or upgrade to a new device. Early lease termination incurs the remaining lease payments; there is no fee for paying off the lease early.
Pricing examples include an iPhone 17 Pro 256GB at $31.99 per month for 24 months or $45.99 for 12 months, an Apple Watch Series 11 at $11.99 per month for 24 months or $21.99 for 12 months, a 256GB iPad Pro at $24.99 per month for 36 months or $31.99 for 24 months, and a 14‑inch MacBook Pro at $38.99 per month for 36 months or $53.99 for 24 months. Payoff amounts equal the retail price minus any trade‑in credits; taxes apply and no additional fees are charged by Klarna.
Apple said the program is available in stores and online beginning July 28, 2026. Eligible devices exclude iPhone 16, iPhone 16 Plus, Apple Watch SE, certain Mac models, iPad (A16), Studio Display, and refurbished units, as well as purchases made with the Apple Employee Purchase Plan or government and military purchase programs. The program cannot be combined with EDU discounts.
If a payment is missed, it is rolled into the next month’s payment with no late fees. Three consecutive missed payments terminate the lease and require payment of the full outstanding balance minus the device’s value at return. Klarna may refer delinquent accounts to collection agencies and offers a one‑month payment deferral and an early termination option with a repayment plan.
Apple noted that existing iPhone Upgrade Program participants may continue until their devices are paid off, after which they must switch to Apple Upgrade or another payment method. Apple Card users can retain 3% Daily Cash on lease payments made with the card.

