Apple launched a device leasing program on Tuesday that lets U.S. customers pay as little as $17.99 per month for an iPhone 17e, with monthly rates available across the full lineup of current iPhones, Apple Watches, iPads, and Macs.
The program, called Apple Upgrade, is backed by Klarna and replaces Apple’s previous iPhone Upgrade Program.
Under the terms, customers make monthly payments for either 24 or 36 months depending on the product category.
iPhones and Apple Watches run on 24-month leases, while iPads and Macs are structured over 36 months.
When the lease ends, you have two options: return the device and move to a newer model, or pay the difference between what you’ve already paid and the full retail price to keep it outright.
Apple says customers will never pay more than the device’s retail price regardless of which path they choose.
What the Monthly Payments Actually Look Like
For iPhones, the entry point is $17.99 per month for the iPhone 17e. The iPhone 17 starts at $22.99, the iPhone Air at $28.99, the iPhone 17 Pro at $31.99, and the iPhone 17 Pro Max at $34.99.
Apple Watch Series 11 starts at $11.99 per month, while the Apple Watch Ultra 3 runs $24.99. The Hermès editions carry higher rates, starting at $40.78 for the Series 11 and $47.03 for the Ultra 3.
On the Mac and iPad side, a MacBook Air starts at $24.99 per month, an iMac at $28.99, a MacBook Pro at $38.99, and a Mac Studio at $48.99. For iPads, the mini starts at $11.99 per month, the Air at $15.99, and the iPad Pro at $24.99.
Also: Apple’s smart glasses will have cameras that can’t record you — here’s what that means
Several Popular Devices Are Excluded
Not every Apple product qualifies. The iPhone 16, Apple Watch SE, entry-level iPad, MacBook Neo, and Mac mini are all excluded from the program at launch.
Customers who were enrolled in the old iPhone Upgrade Program can stay in it for now, but Apple stopped accepting new sign-ups for that program on the same day Apple Upgrade went live.
The leasing is handled entirely by Klarna, the Swedish buy-now-pay-later company, rather than Apple directly.
That means your lease agreement is with Klarna, not Apple, which could affect how customers handle billing disputes, early payoffs, or end-of-lease decisions.
Apple has not disclosed the interest structure or whether any financing costs are embedded in the monthly rates.
Apple Upgrade is currently limited to the United States. There is no announced timeline for international expansion.
