July 28 (Reuters) – Apple on Tuesday launched a device leasing program in the U.S. through payments firm Klarna, offering customers monthly plans for iPhones, Macs, iPads and Apple Watches.
The program, called Apple Upgrade, expands the technology giant’s payment options and replaces its existing iPhone Upgrade Program and iPhone Payments offering in the country.
Customers can lease iPhones and Apple Watches for 12 or 24 months, while Macs and iPads are available under 24- or 36-month plans, Apple said.
Monthly payments start at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad and $24.99 for a Mac.
Applicants will undergo a soft credit check by Klarna that will not affect their credit score, Apple said. Customers can reduce monthly payments by trading in an existing device and earn 3% cash back when paying with an Apple Card.
At the end of the lease, customers can return the device, buy it through a one-time payment or upgrade to a newer model.
Existing members of Apple’s iPhone Upgrade Program will be able to move to the new leasing plan when eligible, use Apple Card monthly installments, seek carrier financing or buy a device outright.
The program is available through Apple’s website, app and U.S. retail stores.
(Reporting by Akash Sriram in Bengaluru; Editing by Shreya Biswas)
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