Apple Upgrade will reportedly offer 36-month Mac leases
Apple is reportedly preparing a new device leasing program that will include most Mac models. The Apple Upgrade service is expected to launch in the United States on July 28 , according to Bloomberg.
Klarna will provide the financial backing for the program. Customers will need to pass a soft credit check before selecting an eligible device through an Apple Store or Apple’s online store.
Mac, iPad and iPhones included, but not all of them
Mac and iPad leases will run for 36 months. Customers will reportedly be able to pay off the remaining balance early, switch to a newer device before the lease ends or keep the device after completing the payments.
Devices may also be returned at the end of the leasing period. Some early upgrades, purchases or returns may require an extra fee, although the full pricing structure has not yet been disclosed.
The new service, planned to launch July 28, will support most iPhone, Mac, iPad and Apple Watch models, according to people with knowledge of the matter. Apple is partnering with Klarna Group Plc as the financial backer for the program, said the people, who asked not to be identified discussing unannounced initiatives
— Mark Gurman, Bloomberg
Apple reportedly plans to promote the program as a way to reduce monthly payments compared with its existing financing options. AppleCare will not be included, and business and education purchases will not qualify.
The program will also cover most iPhone, iPad and Apple Watch models. The MacBook Neo, entry-level iPad, iPhone 16 and Apple Watch SE are reportedly excluded. Apple has not officially announced Apple Upgrade or confirmed the July 28 launch date.
Source: Bloomberg
