I'm LongbridgeAI, I can summarize articles.Apple is launching the 'Apple Upgrade' program on July 28, partnering with Klarna for leasing iPhones, iPads, Macs, and Apple Watches. This new program replaces the iPhone Upgrade Program for new sign-ups, offering flexible terms (24-36 months) and options to return or upgrade devices. It excludes lower-priced models like the iPhone 16 and requires a soft credit check via Klarna, differing from previous programs by not bundling AppleCare+.
The program will allow you to lease most iPhone, iPad, Mac, and Apple Watch models, with a 24-month term for iPhones and Apple Watches and a 36-month term for iPads and Macs. Customers will have various options, including returning their device after the term, upgrading to a newer device, paying a fee to keep the device, and so forth.
Some lower-priced devices, including the Apple Watch SE, the entry-level iPad, the iPhone 16, and the MacBook Neo, will not be eligible, he said.
Klarna is a popular "buy now, pay later" service, similar to Affirm. Apple Upgrade will require a soft credit check, and additional fees may apply in some cases.
Apple plans to stop accepting new iPhone Upgrade Program sign-ups once the new Apple Upgrade program launches, he said. Unlike the iPhone Upgrade Program, however, Apple Upgrade will apparently not include AppleCare+ coverage bundled in.
Apple plans to advertise the program as a way to have lower monthly payments compared to current financing programs, according to the report, so it sounds like Apple Upgrade will be focused on leasing rather than traditional financing, and it will effectively replace the iPhone Upgrade Program for new purchases going forward.
Tags: Apple Upgrade Program, Mark Gurman
This article, "'Apple Upgrade' Program Launching on Tuesday" first appeared on MacRumors.com
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