Apple launches US device leasing program with Klarna

Apple launched a new device leasing program in the United States on Tuesday, July 28, 2026, expanding its financing options beyond smartphones to include Macs, iPads, and Apple Watches. The program, called Apple Upgrade and operated in partnership with payments firm Klarna, replaces the company's existing iPhone Upgrade Program and iPhone Payments offerings for U.S. customers.

Monthly lease payments start at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad, and $24.99 for a Mac. Customers can lease iPhones and Apple Watches for 12 or 24 months, while Macs and iPads are available under 24 or 36-month plans. The application involves a soft credit check through Klarna that does not affect a user's credit score, and no security deposit is required. Customers can reduce their monthly payment by trading in an existing device through Apple Trade In.

At the end of a lease term, users have three options: return the device and exit the program, purchase the device outright with a one-time payment, or return it and upgrade to a newer model under a new lease. The buyout price is the difference between the device's full retail price and the total already paid through lease...