Apple will now let you lease iPhones and other devices

Apple recently launched a new program called Upgrade, allowing customers in the United States to lease devices instead of purchasing them outright. This move follows recent price increases for several products, including iPads and Macs, which the company attributed to rising costs of memory chips. The chip price spike remains connected to the current demand for hardware to support artificial intelligence.

Under the new program, consumers can lease iPhones and Apple Watches for terms of 12 or 24 months. Monthly payments for iPhones begin at $17.99, while Apple Watch leases start at $11.99. The program also covers larger devices, with iPads available from $11.99 per month and Mac computers starting at $24.99 per month. These tablet and computer leases range from 24 to 36 months.

Apple partnered with Klarna to facilitate this service. The program is available for both online and in-store transactions. Interested customers must complete a soft credit check to qualify for the leasing terms.

This shift in consumer purchasing options arrives as hardware costs continue to trend upward. By offering a monthly leasing structure, the company provides an alternative for users who want access to the latest technology without paying the full retail price at once. It remains to be seen how this structure will influence consumer spending patterns regarding personal electronics.