Apple’s rumored “Upgrade” program offers rent-to-own pricing for iPhone, Mac, and iPad

As component and RAM shortages drive up prices, Apple is reportedly launching an “Apple Upgrade” program to lease new devices. according to BloombergMark Gurman, it will work similarly to a car lease, with options to upgrade to a new device early, keep the device or return it at the end of the lease. Gorman says Klarna will be Apple’s financial backer for the new program, which will require a soft credit check to enroll.

The Apple Upgrade is reportedly scheduled to launch on July 28, replacing the current update iPhone upgrade program And standard new iPhone financing with the program is available for most new iPhone, Mac, iPad, and Apple Watch purchases. Apple Upgrade will offer 24-month leases for iPhones and Apple Watches, and 36-month leases for iPads and Macs.

Budget devices like iPad, iPhone 16, Apple Watch SE and MacBook Neo is selling fast He will reportedly not be eligible. Unlike the current iPhone Upgrade Program, Apple Upgrade will not include an AppleCare subscription It has also become more expensive.

The new upgrade program will come in just one month Apple raised prices on almost all of its products. Although the iPhone was not included in that round of price increases, the iPhone 18 Pro series could raise the price bar when it is expected to launch later this year.