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Apple is preparing to launch a new device leasing program in the US soon, making it easier for customers to upgrade to new products without paying the full price upfront. According to Bloomberg, the company could launch this Apple upgrade subscription service on July 28. It will allow eligible customers to lease specific Apple devices for a set period, offering flexible options once the term ends.

This program is expected to replace Apple's existing iPhone Upgrade Program and standard financing plans for new customers. Instead of traditional monthly installments, users will be able to lease eligible devices and choose whether to keep them, return them, or switch to a newer model after the lease period concludes.

Reports indicate that Apple has partnered with Klarna to finance the program, and applicants will undergo a "soft" credit check before approval. The service is expected to be available at both Apple's online store and physical retail outlets in the US.

**Different terms for different devices**
The report states that iPhones and Apple Watches will be offered on 24-month leases, while Macs and iPads will come with a 36-month leasing period. Customers may also have the option to upgrade by entering into a new agreement before the lease expires. Not every Apple product will be included; entry-level devices such as the iPhone 16, base iPad, Apple Watch SE, and MacBook Neo are reportedly excluded from the program.

The new Apple upgrade service will not include the AppleCare protection bundle. If customers require coverage for accidental damage or repairs, they will need to purchase Apple's extended warranty separately.

Note: Apple has not officially launched this program, nor have Apple or Klarna confirmed these reports. These details pertain specifically to the US market; there is currently no information regarding a global rollout, including for India.

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