Apple has introduced Apple Upgrade, a leasing option for eligible iPhone, iPad, Mac, and Apple Watch models with monthly payments through Klarna, available only at Apple. Shoppers pick a product and term, make low monthly payments, then upgrade and return the device at the end of the lease.
iPhone and Apple Watch leases run 12 or 24 months. iPad and Mac leases run 24 or 36 months.
Eligible hardware covers all iPhone models except iPhone 16, plus MacBook Air, MacBook Pro, iMac, Mac Studio, iPad Pro, iPad Air, iPad mini, Apple Watch Ultra, and Apple Watch Series 11. Multiple devices are allowed, but each one requires its own application and lease.
Enrollment works at checkout by selecting Apple Upgrade as the payment option and completing a Klarna application. Klarna is the lease provider and collects payments on leased items.
Apple bills AppleCare and any accessories not financed through Klarna separately. Monthly lease payments carry no added program fees, though early upgrade or early termination can trigger fees.
An iPhone lease requires a connection to AT&T, T-Mobile, or Verizon at enrollment. iPad, Mac, and Apple Watch leases do not need a carrier.
Orders not picked up within seven days are cancelled with associated charges refunded. First-time enrollees can trade in an eligible device they already own to lower payments for the initial term only.
Klarna spreads that credit across the initial payments and will raise the monthly amount if the trade-in is missing or not in good working condition. Trade-ins are not accepted at upgrade time.
AppleCare is optional and not bundled with the lease. Buyers can add it within 60 days of enrollment, billed by Apple, to help avoid a damage fee when returning the device.
Devices must come back in good working condition. At term end, customers can upgrade and return the hardware, leave and return it, or buy it outright with a one-time Klarna payment.
A six-month decision window follows the term, with monthly charges continuing until action is taken. If a trade-in credit applied at enrollment, payments rise in that window because the credit covers only the initial term.
Taking no action leads Klarna to charge the purchase option fee so the device is bought outright.
