Apple launches U.S. device leasing program with Klarna

Apple has introduced a new device leasing program in the United States, collaborating with payments firm Klarna. Dubbed Apple Upgrade, the initiative provides customers with monthly payment options for iPhones, Macs, iPads, and Apple Watches.

This new program expands Apple's payment flexibility and supersedes its prior iPhone Upgrade Program and iPhone Payments offerings. Lease terms vary, with iPhones and Apple Watches available on 12 or 24-month plans, while Macs and iPads can be leased for 24 or 36 months. Monthly payments start at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad, and $24.99 for a Mac.

Applicants will undergo a soft credit check by Klarna, which will not impact their credit score. Apple is also offering incentives such as reduced monthly payments for trading in existing devices and 3% cash back for purchases made with an Apple Card. At the conclusion of the lease period, users have the choice to return the device, purchase it outright, or transition to a newer model. The program is accessible via Apple's website, app, and U.S. retail locations.