Apple rolls out monthly leasing service for iPhones, iPads, Macs, Apple Watches

Apple has unveiled Apple Upgrade, a new leasing program developed in partnership with Klarna that allows customers in the United States to pay monthly for iPhones, Apple Watches, Macs and iPads, according to Reuters.

According to Klarna, customers can enroll through Apple's website, the Apple Store app or any Apple Store across the U.S.

The program offers flexible payment terms. iPhones and Apple Watches can be leased for 12 or 24 months, while Macs and iPads are available on 24 or 36-month plans.

Monthly payments start at Sh2,338 ($17.99) for an iPhone, Sh1,558 ($11.99) for an Apple Watch, Sh3,248 ($24.99) for a Mac, and Sh1,558 ($11.99) for an iPad.

Customers can further reduce their monthly payments by trading in an eligible device through Apple Trade In. Those using an Apple Card also receive 3 percent Daily Cash on lease payments.

Apple says signing up is quick, with customers able to choose a plan and apply online or in store within minutes. Klarna conducts a soft credit check, meaning the application does not affect a customer's credit score.

Once approved, customers complete their purchase as usual. In-store shoppers can take their device home immediately, while online buyers can choose home delivery or in-store pickup.

Apple also includes its Personal Setup service to help customers get started with their new device. Users can also attend free Today at Apple sessions to learn more about their products.

At the end of the lease, customers can upgrade to the latest model, purchase the device with a final payment, or return it and exit the program. The Klarna app lets users track their payment schedule and remaining balance. Customers can also add AppleCare+ for device protection, making returns and upgrades easier.

With the launch of Apple Upgrade, Apple will discontinue the iPhone Upgrade Program and iPhone Payments in the U.S.

Existing iPhone Upgrade Program members can switch to Apple Upgrade, continue with Apple Card Monthly Installments, buy a device outright, or choose eligible carrier financing.

Apple says the new program offers customers greater payment flexibility while making it easier to access the company's latest devices.