Apple replaces its iPhone upgrade program with a new device leasing option

Apple has launched a new leasing program, Apple Upgrade, which expands its previous iPhone-only upgrade model to include iPads, Macs, and Apple Watches. This program allows users to lease devices through low monthly installments, with the option to return the device, buy it outright, or upgrade to a new model at the end of the lease term. The program is facilitated through a partnership with Klarna, which performs a soft credit check that does not impact the user's credit score. Lease durations are 12 or 24 months for iPhones and Apple Watches, and 24 or 36 months for iPads and Macs. While the program offers flexibility, it does not include AppleCare, which was a standard feature of the previous iPhone upgrade program. The program is available through physical Apple Stores, the Apple Store app, and the Apple Store website. Users must select a carrier for iPhone leases, though the devices are unlocked, allowing for carrier switching. The program does not apply to base models of certain devices, such as the iPad Air, Apple Watch SE, or MacBook Air.

Tech4K StaffVideo report

Apple has launched a new leasing program, Apple Upgrade, which expands its previous iPhone-only upgrade model to include iPads, Macs, and Apple Watches. This program allows users to lease devices through low monthly installments, with the option to return the device, buy it outright, or upgrade to a new model at the end of the lease term. The program is facilitated through a partnership with Klarna, which performs a soft credit check that does not impact the user's credit score. Lease durations are 12 or 24 months for iPhones and Apple Watches, and 24 or 36 months for iPads and Macs. While the program offers flexibility, it does not include AppleCare, which was a standard feature of the previous iPhone upgrade program. The program is available through physical Apple Stores, the Apple Store app, and the Apple Store website. Users must select a carrier for iPhone leases, though the devices are unlocked, allowing for carrier switching. The program does not apply to base models of certain devices, such as the iPad Air, Apple Watch SE, or MacBook Air.

Apple Upgrade allows users to lease iPhones, iPads, Macs, and Apple Watches through monthly installments. The program is managed through a partnership with Klarna and requires a soft credit check.

Lease terms vary by device, with 12 or 24 months for iPhones and watches, and 24 or 36 months for iPads and Macs. Unlike the previous iPhone upgrade program, AppleCare is not included in the new leasing structure.

Users have the option to return the device, buy it out, or upgrade to a new model at the end of the lease. Base models for several product lines are excluded from the Apple Upgrade leasing program.

Chapter guide

IntroductionOverview of the new Apple Upgrade leasing program.How it worksExplanation of the application process and credit check requirements.Lease durationsBreakdown of the available lease terms for different Apple devices.Eligible devicesDiscussion of which devices are eligible for the program and which are excluded.Leasing scenariosExplanation of the options available at the end of the lease term.Is it a good deal?Analysis of the financial implications and potential benefits of the program.DrawbacksDiscussion of the program's limitations, including the lack of AppleCare.

Worth noting

  • The video mentions that the specific numbers used for financial examples are hypothetical and should not be relied upon for actual cost calculations.
  • The video discusses the program as a new offering, but viewers should verify current availability and terms directly through official Apple channels.

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