'Apple Upgrade' Program Reportedly Launching Next Week

Tuesday July 21, 2026 8:30 am PDT by Joe Rossignol

Apple and Klarna are partnering on a new "Apple Upgrade" leasing program set to launch in the U.S. on Tuesday, July 28, according to Bloomberg's Mark Gurman.

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The program will allow you to finance most iPhone, iPad, Mac, and Apple Watch models, with a 24-month term for iPhones and Apple Watches and a 36-month term for iPads and Macs. Customers will be able to pay off the device early during the term, upgrade early to a newer device, or keep or return the existing device after the term.

The report said some lower-priced devices, including the Apple Watch SE, the entry-level iPad, the iPhone 16, and the MacBook Neo, will not be eligible.

Klarna is a popular "buy now, pay later" service, similar to Affirm. Apple Upgrade will require a soft credit check, and additional fees may apply in some cases.

Apple plans to stop accepting new iPhone Upgrade Program sign-ups once the new Apple Upgrade program launches, the report added. Unlike the iPhone Upgrade Program, however, Apple Upgrade will apparently not include AppleCare+ coverage.

Apple plans to advertise the program as a way to have lower monthly payments compared to current financing programs, according to the report, so it sounds like Apple Upgrade will be a rebranded, all-in-one program that replaces the iPhone Upgrade Program and some other standard financing options that the company has offered.

Tags: Apple Upgrade Program, Mark Gurman

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Top Rated Comments

turbineseaplane

13 weeks ago

A great way to get (or keep) people paying for things they can't afford and probably shouldn't be buying.
 
But hey ... “number must go up”, right?

That’s the important thing here.

Score: 53 Votes (Like | Disagree)

turbineseaplane

13 weeks ago

How does this differ from just trading in your old one and financing a new one like most people are doing today already?

They are going to position it as a way to have lower payments vs current financing options.

This should help folks stomach the $2500+ iFold pricing.

Just like a car dealership, they will get people thinking in terms of "how much payment can you afford?"

Like I always say.
Apple is really a financial engineering firm nowadays, that happens to make tech products.

Score: 37 Votes (Like | Disagree)

john1970

13 weeks ago

Here is some advice: if you need to finance a new phone or computer buy a refurbished unit and save some money. I usually keep Apple computers at least four years and the phone three years at minimum. I am seriously considering just replacing the battery in my iPhone 15 Pro and use it for another 1-2 years. I think the battery replacement cost is $99 which is significantly cheaper than a new phone.

Score: 32 Votes (Like | Disagree)