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ZDNet
Is leasing an iPhone right for you? How Apple's Upgrade Program works and who it's for
Apple's Upgrade Program allows users to lease devices such as iPhones and iPads through Klarna. While this program offers smaller monthly payments, users must return the device after a set term unless they pay an additional fee to own it. This plan benefits those who prefer frequent upgrades rather than reducing costs. Additionally, the new program has shifted from financing to leasing, which may limit ownership benefits for many consumers. As the landscape of device ownership changes, the program raises questions about the long-term value of leasing versus traditional ownership.
MonitorConfidence: MediumShort term horizon
Published 20 Aug 2026, 02:00 UTC8 min read
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Summary
TL;DR
- The Apple Upgrade Program offers leasing through Klarna for 24 or 36 months.
- Returning the device is mandatory at the end of the lease unless an additional fee is paid.
- New leasing terms are lower than previous financing options but come without ownership.
- Consumers incur fees for damage or loss of devices.
- The program is tailored for users seeking frequent device upgrades.
Interesting facts
- Apple's Upgrade Program has longer lease terms compared to the previous iPhone Upgrade option.
- The program does not cover AppleCare, making users liable for device protection.