Home / Technology / Apple's New Lease: iPhone Upgrade Explained
Apple's New Lease: iPhone Upgrade Explained
10 Sep
Summary
- iPhone 18 Pro leases start at $34.99/month; Duo starts at $57.99/month.
- Apple Upgrade is a leasing program partnering with Klarna.
- Leasing doesn't cover full device cost, potentially trapping users in payments.
Apple has introduced the Apple Upgrade leasing program, a new service in partnership with Klarna, which allows consumers to lease select iPhones, MacBooks, iPads, and Apple Watches. This program replaces the previous iPhone Upgrade program. Customers can lease devices for 24 or 36 months, with options to return, purchase, or upgrade at the end of the term. Credit checks are required for eligibility.
The iPhone 18 Pro, retailing at $1,199, can be leased starting at $34.99 per month for 24 months. The new iPhone Duo, priced between $1,999 and $3,199, has lease options starting at $57.99 per month for 24 months. While the program advertises no explicit interest or late fees, users may face damage fees if devices are not returned in good condition.
A significant risk highlighted is that leasing does not cover the full cost of the device. For example, leasing the iPhone 18 Pro for 24 months at $34.99/month totals $839.76, leaving a substantial balance to purchase the device outright. This structure may encourage users to enter continuous leasing cycles rather than owning the device. AppleCare+ is not included and must be purchased separately.
