Log In Get Started
Stock Markets July 28, 2026 08:52 AM

Apple debuts U.S. device leasing plan in partnership with Klarna

Apple Upgrade consolidates prior iPhone financing options and offers multi-term leases for phones, tablets, watches and Macs

By Maya Rios
Share
Twitter Reddit Facebook LinkedIn
AAPL KLAR

Apple on July 28 introduced a U.S. leasing program called Apple Upgrade, run through payments firm Klarna. The plan replaces Apple’s previous iPhone financing products in the United States and provides monthly leasing options for iPhones, Apple Watches, iPads and Macs with a range of terms and starter monthly payments.

Apple debuts U.S. device leasing plan in partnership with Klarna
AAPL KLAR
Summarize with
ChatGPT Perplexity Claude Grok Gemini

Key Points

  • Apple launched Apple Upgrade in the U.S. on July 28, replacing the iPhone Upgrade Program and iPhone Payments with a Klarna-backed leasing option.
  • Lease options cover iPhones and Apple Watches on 12- or 24-month terms, and iPads and Macs on 24- or 36-month terms, with starting monthly payments listed for each device category.
  • Qualification involves a soft credit check by Klarna that will not affect applicants' credit scores; trade-ins and Apple Card payments provide ways to lower effective monthly costs.

Apple on July 28 rolled out a new device leasing option in the United States in partnership with payments firm Klarna. The offering, named Apple Upgrade, replaces Apple’s existing iPhone Upgrade Program and iPhone Payments options in the U.S. and expands the company’s set of payment choices for consumers.

Under Apple Upgrade, customers can lease iPhones and Apple Watches on either 12- or 24-month plans. iPads and Macs are available on longer terms - customers may choose 24- or 36-month plans for those devices. Apple published starting monthly payment levels that begin at $17.99 for an iPhone, $11.99 for an Apple Watch or an iPad, and $24.99 for a Mac.

Klarna will perform a soft credit check on applicants, Apple said, and that check will not affect a customer’s credit score. Apple also noted that customers can lower their monthly obligations by trading in an existing device. In addition, those who pay with an Apple Card can collect 3% cash back on payments.

At the conclusion of a lease term, customers will have three options: return the device, purchase it outright via a one-time payment, or upgrade to a newer model. Apple said current members of the company’s iPhone Upgrade Program will be able to move to the new leasing plan when they become eligible. Those customers also retain the choice to use Apple Card monthly installments, pursue carrier financing, or buy devices outright instead of switching to the new plan.

The Apple Upgrade program is available through Apple’s website, via the Apple app, and at U.S. retail stores. The company presented the program as a consolidated leasing route for multiple device categories, centrally managed with Klarna handling payment qualification.

Program at-a-glance

  • Launch date: July 28 (U.S.)
  • Partner: Klarna (payments)
  • Devices covered: iPhone, Apple Watch, iPad, Mac
  • Lease terms: iPhone/Watch - 12 or 24 months; iPad/Mac - 24 or 36 months
  • Starter monthly payments: $17.99 (iPhone), $11.99 (Apple Watch or iPad), $24.99 (Mac)
  • Credit check: Soft check by Klarna; will not affect credit score
  • Additional benefits: Trade-in to lower payments; 3% cash back using Apple Card

Risks

  • Eligibility and timing - existing iPhone Upgrade Program members can move to the new plan only when they are eligible, introducing timing uncertainty for some customers.
  • Access to the leasing plan depends on Klarna's soft credit check - while the check will not affect credit scores, the check could still limit approval for some applicants.
  • Monthly payments can vary based on trade-in value and payment method choices, so consumers and retailers may see different revenue and cash flow outcomes depending on uptake and device returns.

More from Stock Markets

Standard Chartered Posts 9% Rise in First-Half Pretax Profit as Wealth and Global Banking Strengthen Results Jul 29, 2026 Asian Markets Retreat as Tech Shares Plunge and Iran Missile Strikes Push Oil Higher Jul 29, 2026 X Challenges Australia's Teen Account Ban, Says Proposed Enforcement Powers Clash With International Law Jul 28, 2026 Wall Street Futures Slip Ahead of Fed Decision and Big Tech Earnings as Middle East Tensions Flare Jul 28, 2026 TSMC Gradually Restarts Japan Fab After Kumamoto Quake; Inspections Underway Jul 28, 2026