Apple Now Lets You Lease iPhones and Macs

Apple has unveiled Apple Upgrade, a new leasing program that allows U.S. customers to access eligible iPhones, Macs, iPads, and Apple Watches without paying the full purchase price upfront. Launched on July 28, 2026, the program is available through the Apple Online Store, the Apple Store app, and Apple retail stores nationwide. Apple has partnered with Klarna, the Swedish fintech company, to handle soft credit checks, lease approvals, and monthly payments. By replacing a large upfront cost with affordable monthly installments, Apple aims to make its premium devices more accessible while giving customers greater flexibility in how they upgrade.

The launch comes as Apple responds to changing market conditions. The company has increased prices on some Mac and iPad models because of rising memory chip costs and growing demand driven by artificial intelligence infrastructure. At the same time, consumers are keeping their smartphones longer, reducing the frequency of upgrades. Apple Upgrade addresses both challenges by lowering the cost of ownership and providing a simpler path to newer devices, making leasing an attractive option as flagship smartphones become more expensive.

Apple Upgrade Replaces Traditional Financing as Device Prices Rise

Apple Upgrade replaces the iPhone Upgrade Program and iPhone Payments for new U.S. customers while extending leasing beyond smartphones to eligible Macs, iPads, and Apple Watches. Existing customers can continue using their current financing plans or choose alternatives such as Apple Card installments, carrier financing, or outright purchases. Lease terms include 12- or 24-month options for iPhones and Apple Watches, and 24- or 36-month options for Macs and iPads. Monthly payments start at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad, and $24.99 for a Mac.

Customers complete a soft credit check through Klarna that Apple says does not affect credit scores. After approval, they can order online or pick up their device from an Apple Store. At the end of the lease, customers can upgrade, purchase the device with a final payment, or return it. However, AppleCare+ is not included in the standard lease package.The program also expands Apple’s financing strategy as device prices continue to rise. However, it excludes several lower-priced products, including the iPhone 16, Apple Watch SE, entry-level iPad, and MacBook Neo. As U.S. smartphone owners keep their devices for an average of about 22 months, Apple Upgrade reflects changing consumer buying habits and prepares the company for a future of higher-priced devices.

Apple Upgrade Strengthens Sales, Loyalty, and Recurring Revenue

Beyond offering another payment option, Apple Upgrade supports the company’s long-term business strategy. Lower monthly payments make premium devices easier to afford without reducing their retail prices, helping Apple attract more buyers while maintaining its premium positioning. The program also encourages customers to remain within the Apple ecosystem because upgrading to the latest iPhone, Mac, iPad, or Apple Watch becomes simpler at the end of each lease. As a result, Apple can strengthen customer loyalty, increase upgrade frequency, and expand its potential customer base among consumers who prefer predictable monthly expenses over large upfront purchases.

The strategy also creates long-term financial benefits for Apple. Monthly lease payments generate more predictable recurring revenue than one-time hardware sales, while leased customers are more likely to subscribe to services such as Apple Music, iCloud+, Apple TV+, and Apple Arcade. In addition, returned devices can be refurbished and resold through Apple’s certified refurbished program, extending the value of existing hardware. Together, these advantages help Apple diversify its revenue sources, strengthen customer retention, and prepare for a future in which premium devices are expected to become more expensive. Rather than serving only as a leasing program, Apple Upgrade represents a broader strategy to support sustainable growth while adapting to changing consumer expectations.

Web Resources On You Can Lease Your Next iPhone and Mac

1. BBC.com : Apple will now let you lease your next iPhone or Mac instead of buying it.
2. Washington Post.com : Apple will now let you lease iPhones and other devices.
3. Fox59.com : Apple launches new iPhone lease program.
4. Economic Times.com : Apple launches US device leasing program with Klarna.