Apple and Klarna Launch Device Lease-to-Own Program
Apple is reportedly partnering with Klarna to introduce a new lease-to-own program for iPhones, iPads, and Macs. The initiative allows consumers to acquire devices over multi-year payment terms and offers upgrade options.
Apple is reportedly teaming up with payment processor Klarna to launch a new lease-to-own program for its devices. The program, named Apple Upgrade, will allow consumers to acquire popular Apple products such as iPhones, iPads, Macs, and Apple Watches through extended payment plans.
The new initiative is expected to launch next Tuesday. It provides customers with the option to pay for their purchases over several years. The lease term for iPhones and Apple Watches will be up to 24 months, while leases for Macs and iPads can extend up to 36 months.
At the end of the lease period, customers will have the choice to keep the device, return it, or upgrade to a newer model. Reports indicate that some transactions will incur an additional fee. This new leasing model signifies a notable shift for Apple, moving from its traditional direct purchase model.