Apple Launches iPhone and Mac Leasing Program as Device Prices Rise

Apple is introducing a new way for customers to get its devices without paying the full purchase price upfront. The company is launching a leasing program that allows consumers to lease iPhones, Macs, iPads, and Apple Watches through monthly payments.

The program, developed in partnership with payment platform Klarna, launches in the United States and will be available through Apple retail locations, the Apple Store app, and online.

Customers will be able to lease iPhones and Apple Watches for 12 or 24 months, while Macs and iPads will have longer lease options ranging from 24 to 36 months.

Eligible products include the iPhone 17 lineup, iPhone Air, Apple Watch Series 11, Apple Watch Ultra 3, MacBook Air, MacBook Pro, iMac, Mac Studio, iPad Air, iPad Pro, and iPad Mini.

Apple’s lower-cost products, including the iPhone 16, MacBook Neo, base iPad, and Apple Watch SE, are not included.

The program replaces Apple’s previous iPhone Upgrade Program and expands the concept to more devices. The company says the new option could lower monthly costs for consumers as technology prices continue increasing.

The lowest-cost iPhone leasing option starts at $17.99 per month, compared with about $42 per month for the previous upgrade program.

Analysts say the move comes as many consumers are delaying upgrades and keeping smartphones longer. The average user now holds onto a phone for nearly two years, according to industry research.

The leasing program arrives ahead of Apple’s expected September iPhone launch, which could include the company’s first foldable iPhone.