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Apple Upgrade Explained: A Guide to Getting an iPhone with 0% Installments

Apple now offers the new Apple Upgrade Lease Plan | Rent an iPhone like a car!
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Apple has launched a new Apple Upgrade Plan in the U.S., a product leasing service provided by Klarna. Now, when purchasing devices on the Apple Store website, Apple Store app, or at physical stores, U.S. users can choose the Apple Upgrade monthly lease instead of buying outright or using traditional installment plans.

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■ Total buyout price is no higher than the official list price

The Apple Upgrade Plan offers lease terms of 12 to 36 months. Its biggest highlight: if you decide to buy out the device at the end of the lease, the total amount you pay (monthly rent + buyout fee) will strictly equal the product's original official list price. Essentially, this is a zero-interest, zero-fee installment service in disguise.

■ Example with iPhone 17 Pro (128GB):

Item	Amount/Details
List Price	$1,099
24-month lease monthly payment	$31.99 / month
Total lease period cost	Approx. $770
End-of-term buyout price	Approx. $330 (list price - rent paid)

With this plan, users can get the product with no down payment required.

⚠️ Things to consider

Editor's Pick: The Apple Upgrade Plan is better suited for users who upgrade on a fixed cycle, want to reduce monthly cash pressure, and are comfortable with "leasing rather than owning." For example, those who want to upgrade their iPhone or Apple Watch every year or two may find the process smoother.

But if you're used to keeping a device for three to four years, or care more about ultimate ownership, buying outright, Apple Card installments, or carrier deals might still be a better fit. Would you be okay with renting an Apple device like a car?

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