- Apple is all set to launch Apple Upgrade, a new way to finance iPhones and other Apple products, and in the US.
- With up to 24 months on Apple Watch and iPhones & 36 months of iPads and Macs, the program lets users buy now, pay later, upgrade in the middle or keep their units after the said period.
- Set to arrive on July 28, it also marks the end of iPhone Upgrade Program.
Apple Upgrade is expected to arrive in the United States as the next-gen program to buy iPhones and other Apple devices in the country. The Cupertino giant has reportedly partnered with BNPL firm Klarna, which allows users to subscribe to a new iPhone, iPad, or Mac with leasing up to 36 months. Did we catch your attention? Read ahead to know more.
Apple Upgrade will let users finance their purchases up to 36 months
Apple Upgrade, as per Bloomberg, could debut in the US as a new way of leasing Apple products. It involves 24-month repayment plans for leasing iPhones and Apple Watch models. For iPads and Macs, there’s an extendable 36-month plan available, and it doesn’t include AppleCare.
The Cupertino-based giant has partnered with buy-now-pay-later (BNPL) Klarna to unlock this new subscription plan. Users can decide to upgrade during the leasing tenure or keep the device to themselves at the end. Additionally, there’s an option to pay off the device, as the tech juggernaut wants to acquire more customers in this hyper-competitive smartphone market. This also marks the departure from ownership-based financing to something similar to vehicle leasing. Note that Klarna will launch a soft credit check before approving such purchases.
The existing iPhone Upgrade Program will be discontinued on July 28 as the tech juggernaut pulls the curtain on the Apple Upgrade. This could work in its favor, as rising memory and other component costs have pushed retail prices up. Apple has, however, absorbed most of these fluctuating costs; it also reaches a point where it will have to pass on the increased costs to the users.
With the Apple Upgrade program, interested buyers can enjoy 24 to 36 months of leasing iPhones (and other products) and upgrade when they want rather than waiting for a few years before making the switch. Fortunately or unfortunately, this program doesn’t cover entry-level products such as the MacBook Neo, iPhone 16, Watch SE, or the base variant of the iPad.
Watch this space as we talk more about Apple Upgrade and how customers can benefit from it in the coming days.
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