Apple may start leasing iPhones, Macs and iPads from tomorrow, but most users still won’t get it
Follow UsApple Upgrade is expected to offer 24-month leases for iPhones and Apple Watches and 36-month plans for Macs and iPads.
The programme may let users upgrade, return, or purchase the device at the end of the lease, but it is reportedly limited to the US.
Unlike the current iPhone Upgrade Program, AppleCare+ is not expected to be included, and some entry-level devices may be excluded.
We all have read that Apple might be preparing to introduce a new subscription style device leasing programme called Apple Upgrade as early as tomorrow. As per Bloomberg’s Mark Gurman, the service will let customers lease selected iPhones, iPads, Macs and Apple Watch models instead of buying them outright. However, while the programme may change the way Apple sells its hardware, it is said to remain exclusive to the US for now, meaning that Indians and other markets will have to wait.
SurveyAs per reports, the new programme will replace Apple’s existing iPhone Upgrade Program for new customers and will reportedly be backed by buy-now-pay-later provider Klarna instead of Citizens Bank. Apple is expected to stop accepting new registrations for the current iPhone Upgrade Program once the new service goes live, although existing subscribers will reportedly be allowed to continue with their plans.
Leasing instead of buying
Unlike traditional financing, Apple Upgrade is said to work more like a vehicle lease. The customers may pay a monthly fee to use an Apple device for a fixed period, with lease terms reportedly set at 24 months for iPhones and Apple Watches and 36 months for Macs and iPads.
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At the end of lease, the users will have multiple choices: they can return the device, upgrade to a newer model, pay an additional amount to keep it or settle the remaining balance before the lease period ends.
The reports also suggest that not every Apple product will qualify. Many devices such as the Apple Watch SE, entry-level iPad, iPhone 16 and the rumoured MacBook Neo will not be available for leasing.
AppleCare+ may not be included
Apple may not offer the AppleCare+ with this programme and the customers may need to purchase it by paying extra if they want accidental damage protection and extended warranty benefits.
It must be noted that Apple has not confirmed the programme yet, but if reports are accurate, Apple Upgrade can become the company’s primary subscription based option for acquiring new hardware in the US.
