Apple Introduces New Upgrade Financing Program
Apple to Launch New Upgrade Program for iPhone, Mac, iPad, and Apple Watch
Apple is preparing to introduce a new financing program called Apple Upgrade, allowing customers to purchase selected devices through affordable monthly payments. According to Bloomberg, the program is expected to launch on July 28, 2026.
The new program will cover iPhone, Apple Watch, iPad, and Mac devices, giving customers greater flexibility when purchasing Apple products.
Installment Terms
Apple Upgrade will offer different financing periods depending on the device:
- iPhone — 24-month installment plan.
- Apple Watch — 24-month installment plan.
- iPad — 36-month installment plan.
- Mac — 36-month installment plan.
Customers will make equal monthly payments throughout the financing period, making premium Apple devices more accessible.
Options After the Installment Period
When the payment term ends, customers will be able to choose one of three options:
- Keep the device by completing the purchase.
- Return the device to Apple.
- Upgrade to a newer model and begin a new financing cycle.
Apple Upgrade combines installment financing with the flexibility to regularly replace devices without paying the full price upfront each time.
Devices Excluded from the Program
Not every Apple product will be eligible for Apple Upgrade.
The following devices are expected to be excluded:
- Apple Watch SE.
- iPhone 16.
- Base model iPad.
- MacBook Neo.
- iPhone 17e.
Devices purchased through Apple's corporate and education sales programs will also not qualify.
Eligibility depends on both the device model and the purchasing channel.
AppleCare Will Become Optional
Unlike Apple's previous iPhone Upgrade Program, the new Apple Upgrade initiative will not require customers to purchase AppleCare.
Users will be free to decide whether they want additional protection coverage or prefer to purchase the device without it.
Financing Partner
Apple has selected Klarna as the financing partner for the program. Klarna specializes in the Buy Now, Pay Later (BNPL) payment model.
According to Bloomberg, Apple previously explored creating its own subscription-based device financing system but ultimately chose to partner with Klarna instead.
Benefits for Customers
The new Apple Upgrade program is designed to reduce the upfront cost of purchasing Apple devices while giving customers greater flexibility through predictable monthly payments.
If launched as planned, Apple Upgrade will become one of the company's largest financing programs, covering multiple product categories and making it easier for customers to upgrade to new devices on a regular basis.
