Apple recently raised the prices of most of its devices, including MacBook Air, MacBook Pro, iPad, iPad Air, iPad Pro, HomePod, and other Mac models. The price hike came soon after a company executive highlighted that the price increase is inevitable to sustain in the market as the supply chain pressures and RAM shortage raise the manufacturing costs. With the anticipated price hike of iPhone models around the corner, the Cupertino-based tech giant has launched a new leasing programme, namely Apple Upgrade. The company has collaborated with a digital payments and short-term credit provider to introduce monthly payment options for various devices, including the latest iPhone 17 series, MacBook models, and smartwatches.
Apple Upgrade Introduced Weeks After Recent Price Hike
In a press release on Tuesday, the Tim Cook-led tech giant announced that it is joining hands with Klarna, a short-term consumer credit provider, to launch Apple Upgrade, its new device leasing programme. Apple Upgrade is currently available in the US, offering 12 months and 24 months leasing options for select iPhone and Apple Watch models, while providing 24 months and 36 months leasing options for select Mac and iPad models.
Apple says that customers can earn 3 percent “Daily Cash back” when they make their lease payments with Apple Card. The tech giant also lets customers trade their older devices when they first enroll in the Apple Upgrade programme to reduce their monthly lease payments. Further, the company highlights that each applicant will be subject to a “soft credit inquiry” before the lease is approved. At the end of the lease term, they can choose to upgrade their device, purchase it by making a one-time payment, or return the device to exit the programme.
All applicants will be subject to a soft credit inquiry that will not impact their credit score. Once approved, they can complete their transaction as usual. When customers first enroll in Apple Upgrade, they can further lower their monthly lease payments by trading in their currently owned device through Apple Trade In. Customers can also earn 3 percent Daily Cash back when making their lease payments with Apple Card.2
As part of the Apple Upgrade programme, customers in the US can purchase the new iPhone 17, iPhone 17e, iPhone 17 Pro, and iPhone 17 Pro Max at a starting lease of $17.99 (roughly Rs. 1,720) per month. Similarly, the flagship Apple Watch Series 11 and Watch Ultra 3 are available at a starting lease of $11.99 (about Rs. 1,148) per month.
Coming to the Mac models, the Apple Upgrade programme offers leases on the MacBook Air with M5 chip, MacBook Pro with M5, M5 Pro, and M5 Max processors, iMac with M4 chipset, and Mac Studio with M4 Max and M3 Ultra processors. The leases on Mac models start at $24.99 (roughly Rs. 2,400) per month. Lastly, the iPad Air, iPad Mini, and iPad Pro models can also be purchased as part of the programme at a starting lease of $11.99 (about Rs. 1,148) per month.
However, it is worth noting that not all devices Apple currently sells are part of the Apple Upgrade programme. For reference, the tech giant is not offering leasing options on iPhone 16, iPhone 16 Plus, Apple Watch SE, MacBook Neo, Mac Mini, iPad with A16 chip, and Studio Display, which will have to be bought with regular payment plans.
