- Apple launched Apple Upgrade, a leasing program for iPhone, Apple Watch, Mac, and iPad in the US
- Leasing plans range from 12 to 36 months with monthly payments starting at $11.99
- Customers can lower payments by trading in devices via Apple Trade In and get 3% cashback with Apple Card
Apple has launched Apple Upgrade, a new leasing programme for iPhone, Apple Watch, Mac and iPad in the United States in partnership with buy now, pay later (BNPL) provider Klarna. The service is available through the Apple Store online, the Apple Store app and Apple Store retail locations.
Apple Upgrade offers customers flexible leasing options, with 12- and 24-month plans for iPhone and Apple Watch, and 24- and 36-month plans for Mac and iPad. Monthly payments start at $17.99 for iPhone, $11.99 for Apple Watch and iPad, and $24.99 for Mac, according to Apple.
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"At Apple, we put the customer at the center of everything we do," Karen Rasmussen, Apple's vice president of the Apple Store Online, said. "We're thrilled that Apple Upgrade offers customers a more flexible way to pay for the products they love."
Customers enrolling in the programme can reduce their monthly payments by trading in an eligible device through Apple Trade In. Those using Apple Card to make lease payments will also receive 3% Daily Cash back.
According to Apple, customers can apply for the leasing programme either online or in-store and receive a decision from Klarna within minutes.
Apple said applicants will undergo a soft credit inquiry that will not affect their credit score. Once approved, customers can complete their purchase, with in-store buyers taking their device home immediately, while online shoppers can opt for delivery or in-store pickup.
At the end of the lease, customers can upgrade to a newer Apple device, buy the leased product with a one-time payment or simply return it.
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Customers can also track billing schedules and remaining payments through the Klarna app. AppleCare can be added to eligible devices for additional protection during the lease period.
With the launch of Apple Upgrade, Apple said it will discontinue the iPhone Upgrade Program and iPhone Payments in the U.S.
Existing iPhone Upgrade Program customers can switch to Apple Upgrade, finance future purchases through Apple Card Monthly Installments, buy devices outright or choose eligible carrier financing, Apple said.
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