Apple launches 'Upgrade' program for leasing Mac, iPhone, iPad, or Apple Watch

Last month, Apple tragically raised the prices on many of its devices, largely thanks to the industry-wide memory shortage known as RAMageddon. This month, it's giving consumers some relief. Sort of.

Apple officially launched a new leasing program today called Apple Upgrade. If the cost of buying a new iPhone, iPad, Mac, or Apple Watch outright brings you to your knees, Apple Upgrade lets you lease a device for as low as $11.99 per month. While it doesn't actually reduce the price of Apple products, it changes the perceived cost by swapping the shock of the full price with a predictable low monthly payment. Price psychology!

This is the first time Apple is expanding its leasing options beyond just smartphones. Aside from iPhones, the new Apple Upgrade program also features a range of iPads, Apple Watches, and Macs, though not every product in Apple's lineup is included. Notably, the MacBook Neo — Apple's most affordable laptop — is not available in the program. Leasing prices start at $17.99 per month for iPhones, $11.99 per month for iPads and Apple Watches, and $24.99 per month for Mac devices. Leases run for 12 or 24 months for both iPhones and Apple Watches and 24 or 36 months for iPads and Macs.

Once your lease is up, you have a few options. You can either upgrade your device, keep it with a one-time fee, or return it to an Apple store and quit the program altogether. While Apple hasn't said how much that one-time purchase fee will be, it'll likely just amount to the full price of the phone minus your leasing payments. So, not exactly a deal.

Apple Upgrade is run by Klarna. So, similar to a credit card, you'll need approval before you can participate. Apple says applying takes mere minutes and requires a soft credit check that won't impact your credit score. Once approved, you'll be able to keep track of your lease and payment details through the Klarna app.

Here's a quick look at some of the sample prices (minus taxes):

• iPhone 17 Pro (256GB) — $1,099 $31.99/month with a 24-month lease or $45.99/month with a 12-month lease

• iPhone Air (256GB) — $999 $28.99/month with a 24-month lease or $41.99/month with a 12-month lease

• iPad Pro, 11-inch (256GB, WiFi) — $1,199 $24.99/month with a 36-month lease or $31.99/month with a 24-month lease

• iPad Air, 11-inch (128GB, WiFi) — $749 $15.99/month with a 36-month lease or $19.99/month with a 24-month lease

• MacBook Pro, 14-inch (M5 chip, 16GB RAM, 1TB SSD) — $1,999 $38.99/month with a 36-month lease or $53.99/month with a 24-month lease

• MacBook Air, 13-inch (M5 chip, 16GB RAM, 512GB SSD) — $1,299 $24.99/month with a 36-month lease or $34.99/month with a 24-month lease

• Apple Watch Series 11 (42mm, GPS) — $399 $11.99/month with a 24-month lease or $21.99/month with a 12-month lease

In case you missed it, Apple's iPhone Upgrade Program is now dead. The Apple Upgrade program is its replacement. If you're still on the existing iPhone Upgrade program, you can choose whether or not you want to move to the Apple Upgrade program when your contract ends.