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VERIFIEDBy Xavier Rivera· ·1.5 min read

Apple to launch Upgrade leasing program on July 28

Apple will launch a new Apple Upgrade leasing program on July 28 according to a Bloomberg report, in partnership with Klarna, offering lower monthly payments on iPhone, iPad, Mac, and Apple Watch purchases with 24- or 36-month terms. The move ends new signups for the existing iPhone Upgrade Program and arrives as the company has raised hardware prices.

Source:9to5Mac

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Apple to launch Upgrade leasing program on July 28

TL;DRAI · 60 sec read

Apple will launch a new Apple Upgrade leasing program on July 28, according to a Bloomberg report published today. The report says the initiative marks one of the biggest-ever changes to how the company sells devices.

Apple Upgrade offers lower monthly payments than current financing. The program will be powered by a partnership with Klarna and requires a soft credit check for shoppers. It functions like a subscription for eligible hardware purchases.

The report says the initiative marks one of the biggest-ever changes to how the company sells devices.

iPhone and Apple Watch leases run for 24 months while Mac leases run for 36 months. Users can pay off the device early, upgrade to a new model early, keep it at the end of the term, or return it. Certain transactions incur an additional fee.

Ineligible devices exclude several current models. The Apple Watch SE, base model iPad, iPhone 16, and MacBook Neo will not qualify for Apple Upgrade. The program does not include AppleCare coverage.

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iPhone Upgrade Program signups will end with the new launch. Apple plans to discontinue new enrollments for its existing iPhone Upgrade Program once Apple Upgrade debuts. The new service differs by omitting bundled AppleCare.

Apple plans to discontinue new enrollments for its existing iPhone Upgrade Program once Apple Upgrade debuts.

Launch timing aligns with recent Apple price increases. Apple raised prices for iPads and Macs last month. New iPhones expected in September are also projected to carry higher prices, and Apple Upgrade is positioned to help customers manage those costs.

The report states the program will be advertised specifically for its lower payments compared with existing financing options.

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