On July 28, 2026, Apple is launching Apple Upgrade — a new device leasing program in partnership with the fintech company Klarna. We break down how it works and how it differs from the previous device upgrade program.
What Is Apple Upgrade
Apple Upgrade is a leasing program that allows users to rent an iPhone, iPad, Mac and Apple Watch with fixed monthly payments instead of paying the full price upfront. The program launches in the U.S., is available both in Apple retail stores and online, and replaces the previous iPhone Upgrade Program and Apple’s standard installment plan, registration for which closes at the same time as the new program launches.
Lease Terms
Terms depend on the device category:
- iPhone and Apple Watch — 24-month lease
- Mac and iPad — 36-month lease
Only a simplified credit check is required to apply; it does not affect the credit score, although it also does not guarantee automatic approval.
What You Can Do at the End of the Lease Term
Unlike the previous program, where the device became the customer’s property immediately after the full repayment of a 24-month interest-free loan, Apple Upgrade is structured more like car leasing. At the end of the term, several options are available:
- Return the device
- Buy out the remaining value and keep the device
- Upgrade early to a newer model
- Continue payments
Why Apple Is Launching This Program Right Now
According to Bloomberg, the launch of Apple Upgrade coincides with a period when Apple has already raised prices on a number of devices due to the global shortage of memory chips. The company presents the program as a way to make the monthly payment lower and less noticeable for the customer — although the total amount paid over the full lease term does not necessarily become lower.
Some analysts point out that certain operations within the program may come with additional fees — so it is worth carefully reading the terms of a specific offer before signing up.
In Brief: The Key Points
- July 28, 2026 — Apple Upgrade launches in the U.S., in stores and online
- Replaces the old iPhone Upgrade Program and the standard installment plan
- iPhone/Apple Watch — 24 months, Mac/iPad — 36 months
- At the end of the term: return, buy out, upgrade early or continue payments
- Only a simplified credit check is required
- According to Bloomberg, certain operations may come with additional fees
FAQ
What is Apple Upgrade? A new Apple device leasing program in partnership with Klarna — it allows users to rent devices with fixed monthly payments instead of paying the full price upfront.
When does Apple Upgrade launch? July 28, 2026, initially only in the U.S.
What are the lease terms under the program? 24 months for iPhone and Apple Watch, 36 months for Mac and iPad.
How is Apple Upgrade different from the old iPhone Upgrade Program? In the old program, the device became the customer’s property immediately after the loan was repaid. In the new program, this is one of several options at the end of the term — you can also return the device or upgrade to a newer model.
Is a credit check required for Apple Upgrade? Yes, a simplified check that does not affect the credit score, but also does not guarantee approval.
The article was prepared by the TechVisor team — practical IT media for people.
