Apple rolls out interest-free leasing program for iPhones, Macs and more

Apple announced a new leasing model that supersedes the former iPhone Upgrade Program, offering interest-free monthly payments for a broader lineup that includes iPhones (excluding the iPhone 16), iPads, MacBooks, iMacs, Mac Studios, Apple Watch Ultra and Series 11. The service is delivered in partnership with Klarna, which conducts a soft credit inquiry that does not affect the applicant's credit score. Users already enrolled in the old program can continue their payments until the contract ends, then choose to stay or transition to the new lease.

New customers select the Apple Upgrade option at checkout, complete a brief Klarna application, and manage the lease via the Klarna app. Lease periods vary—12 to 24 months for iPhones and watches, 24 to 36 months for iPads and Macs—and at lease completion they can return the device, upgrade to a newer model, or buy it with a single payment. The monthly rates start at $17.99 for iPhones and as low as $11.99 for watches and iPads, making the offering cheaper than the previous program.