Apple Upgrade: Apple Is About to Change How You Buy Its Devices - One Monthly Plan to Lease an iPhone, iPad, Mac or Watch and Always Have the Latest

Apple is about to change one of the most familiar rituals in technology: how you buy an Apple device. According to a report from Bloomberg, Apple is set to launch a new program called Apple Upgrade on Tuesday, July 28, 2026, in the United States - a single, flexible plan that lets you lease an iPhone, iPad, Mac or Apple Watch, and then keep it, return it, or trade up to the newest model when your term ends. It is, in effect, a rebranded and greatly expanded successor to Apple’s decade-old iPhone Upgrade Program, and one of the biggest changes in years to how the company sells its hardware.

Note that this is a report, not yet an official Apple announcement - the details below come from Bloomberg’s reporting and follow-up coverage by outlets including MacRumors, TechCrunch and AppleInsider. Here is exactly what is expected, how it compares to the old program, and the practical things worth checking before you sign up.

1. What Apple Upgrade actually is

For a long time, the choices for getting a new Apple device were simple: pay in full, put it on a credit card, or - for iPhones specifically - join the iPhone Upgrade Program, a 24-month installment plan that bundled in AppleCare+ and let you trade up to a new iPhone once you were about halfway through. Apple Upgrade takes that same idea and stretches it across the entire lineup.

The mental model is a car lease. You choose a device, pay a predictable amount each month, and at the end of the term you decide what to do next: hand it back, pay off the remaining balance to own it outright, or roll straight into the latest model. For people who like to stay current - or who simply prefer spreading the cost of premium hardware over time rather than paying a large sum up front - it turns buying Apple gear into a steady subscription-style rhythm.

2. How the terms break down

Lease length depends on the type of device, reflecting how long each tends to stay current.

Enrollment runs through a soft credit check - the kind that does not dent your credit score - administered by Klarna. Because Klarna provides the financing, Apple can offer flexible monthly terms without taking on the credit risk itself. Throughout the term you keep your options open: pay the device off early, or upgrade early to something newer.

3. What is new versus the old iPhone Upgrade Program

Apple Upgrade is best understood as a rebranded, all-in-one successor to the iPhone Upgrade Program that Apple has run since 2015. According to the reporting, Apple plans to stop taking new sign-ups for the old, iPhone-only program once the new one goes live; current members simply continue as they are.

4. Why this is a smart move

Leasing has been the default way people drive new cars for decades, precisely because it turns a big, lumpy purchase into a predictable monthly cost and a regular cadence of upgrades. Bringing that model to Apple’s entire hardware lineup - in a single, easy-to-manage plan - is a natural fit for how many people already relate to their devices: as tools they want kept current, not one-time purchases they hang onto for a decade.

It also lands at a useful moment. Component costs, especially for memory, have been rising across the industry, which pushes up sticker prices on new hardware. A plan that spreads that cost into smaller, steadier monthly payments makes the latest devices more approachable - and keeps the door open to always trading up. For Apple, it deepens the ongoing relationship with each customer; for the customer, it is simply more flexibility in how to own - or keep upgrading - the gear they use every day.

What to check before you sign up

• AppleCare is not included. If you want accidental-damage and extended warranty coverage, budget for it separately.
• Some models are excluded. The reporting lists the iPhone 16, the entry-level iPad, the Apple Watch SE and the MacBook Neo as ineligible, along with business and education purchases.
• Watch for fees. Certain actions - such as some early changes - may carry an additional fee, so read the terms for the specific device you choose.
• U.S. first. The launch is reported for the United States; availability elsewhere has not been detailed.

What we still don’t know

• Exact monthly pricing. The reporting describes lower payments but has not laid out the precise monthly figures per device.
• The fine print on fees and returns. The conditions for early upgrades, returns and any wear-and-tear expectations will matter in practice.
• Official confirmation. Until Apple formally announces the program, treat the specifics as reported rather than final.

Sources & further reading

• MacRumors: ‘Apple Upgrade’ Program Launching Tuesday
• Bloomberg (original report): Apple to Launch ‘Upgrade’ Device Leasing Program With Klarna
• TechCrunch: Apple teams up with Klarna on a lease-to-own program · AppleInsider: Apple Upgrade lets users lease iPhones and Macs with Klarna
• Background: Apple - iPhone Upgrade Program

Curated by Jerry Cards - jerrycards.com. We track the tech that touches your everyday devices so you don’t have to. More at jerrycards.com/news. This article is journalism based on reporting, not financial advice; check Apple’s official terms before enrolling.