Apple is preparing to launch a new device leasing program in the US very soon, which will make it easier for customers to upgrade to new products without paying the full price. According to Bloomberg, the company may launch the Apple Upgrade Subscription Service on July 28, which will allow eligible customers to lease certain Apple devices for a fixed period of time, with flexible options after the end of the term.
It is being said that this program is an extension of Apple’s existing iPhone The upgrade program will replace the standard financing plan for new customers. Instead of traditional monthly installments, users will be able to lease eligible devices and choose to keep them, return them, or switch to a new model at the end of the lease period.
According to the report, Apple has already partnered with Klarna to finance the program and applicants will have to go through a soft credit check before approval. This service is expected to be available at both Apple Stores online and retail outlets in the US.
Different terms and conditions for different devices
The report says that iPhone and Apple Watch will be given on lease for 24 months, while Mac and iPad will come with a leasing period of 36 months. Customers may also have the option to upgrade by signing a new agreement before the lease ends. Not every Apple product will be included, entry-level devices like the iPhone 16, base iPad, Apple Watch SE and MacBook Neo are reportedly left out of the program.
The new Apple Upgrade Service will not include AppleCare Protection Bundle. If customers want accidental damage or repair coverage, they will have to purchase Apple’s extended warranty separately.
Note: Apple has not officially started this program, nor has the company Klarna confirmed these reports. These details are only for the US market and there is currently no information about the global market including India.
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