Apple is closing new sign-ups for its long-running iPhone Upgrade Program on Tuesday, July 28, according to a new Bloomberg report.
Taking its place on the exact same day is “Apple Upgrade,” a new leasing service that expands hardware financing to iPads, Macs, and Apple Watches alongside iPhones.
The monthly payments under Apple Upgrade are structured as a lease rather than a purchase.
At the end of the term, customers can return the device, swap it for a newer model, or pay a fee to keep it. Apple is partnering with Klarna, the buy-now, pay-later company, to handle financing for the program.
What You Give Up Compared to the Old Program
The most immediate difference from the existing iPhone Upgrade Program is the absence of AppleCare+ coverage.
The current program bundles AppleCare+ into the monthly price, which gives users accidental damage protection and priority support.
Apple Upgrade does not include it, which means customers would need to purchase AppleCare+ separately if they want that coverage.
Apple is positioning the new program around lower monthly payments, which is where the lease structure becomes relevant.
Leasing typically produces a smaller monthly number than financing a full purchase, since you are paying for use over time rather than building toward ownership.
Whether that math works in a customer’s favor depends on how long they typically hold their devices and what they would have paid through a carrier or Apple’s current installment options.
Which Devices Are Included and Which Are Not
Lease terms vary by product category. iPhones and Apple Watches carry a 24-month term, while iPads and Macs run 36 months.
Not every device in Apple’s lineup qualifies. The iPhone 16, Apple Watch SE, entry-level iPad, and MacBook Neo are excluded from the program.
Existing members can stay on their current plans for now. Apple hasn’t said when it plans to fully phase out the old program, but current subscribers won’t see immediate changes.
Tuesday’s launch applies only to new enrollments, with Apple Upgrade becoming the default path for anyone who was previously considering joining the iPhone Upgrade Program.
