Apple will now let you lease your next iPhone or Mac instead of buying it
Apple is launching a leasing program to make iPhones
By Lisa Eadicicco, CNN
(CNN) — There are plenty of things you can lease: a car, an apartment or an office space, for example. Now you can add your next iPhone to that list.
Apple is launching a new leasing program to make iPhones, Macs and other products feel more affordable at a time when electronics prices are climbing and consumers are holding onto devices longer.
Apple is partnering with payment platform Klarna on the program, which will be available in the United States starting Tuesday through retail locations, online and in the Apple Store app. iPhones and Apple Watches can be leased on either a 12- or 24-month basis, while Macs and iPads will have a 24- or 36-month lease term.
Eligible products include:
- iPhone 17 lineup
- iPhone Air
- Apple Watch Series 11
- Apple Watch Ultra 3
- MacBook Air
- MacBook Pro
- iMac
- Mac Studio
- iPad Air
- iPad Pro
- iPad Mini
Apple’s cheaper products — like the iPhone 16, MacBook Neo, base iPad and Apple Watch SE — are not part of the program.
This new leasing plan replaces the iPhone Upgrade Program, which allowed consumers to swap out iPhones after making 12 monthly payments. The new plan aims to apply a similar concept to a broader range of Apple products while offering more flexibility in payment plans and lower monthly costs.
The cheapest iPhone leasing option costs $17.99 per month, while the iPhone upgrade plan starts at about $42 per month, according to Apple’s website.
The program could help consumers think about an iPhone or Mac as another subscription rather than a big-ticket purchase, according to Francisco Jeronimo, an analyst for market research firm International Data Corporation. Most Americans no longer upgrade their phone every year: The average user keeps their phone for 22 months, according to a survey last year from Reviews.org.
Meanwhile, some analysts expect Apple’s next batch of iPhones to cost more. Last month, Apple raised prices on a range of devices, including certain Mac and iPad models, because of an ongoing memory shortage from increasing demand for data centers.
“We should start thinking about a $1,500 iPhone instead of a $1,000 (or) $1,200 iPhone,” Mike Howard, vice president of memory coverage at research firm TechInsights, told CNN earlier this month.
The new leasing program debuts ahead of Apple’s anticipated iPhone launch in September. The company is expected to release what will likely be its most expensive smartphone yet: the first foldable iPhone, according to Bloomberg.
“Apple’s real risk is that rising prices even further can impact the upgrade cycle,” Jeronimo said in a statement last week after Bloomberg reported on the leasing program.
“Apple Upgrade lands at precisely the moment Apple needs it,” he said.
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