Named Apple Upgrade, this initiative broadens the payment options available from the tech giant and substitutes the previous iPhone Upgrade Program and iPhone Payments in the country.
According to Apple, customers can lease iPhones and Apple Watches for 12 or 24 months, while Macs and iPads come with 24- or 36-month plans.
Monthly payments begin at $17.99 for an iPhone, $11.99 for an Apple Watch or iPad, and $24.99 for a Mac.
Klarna will conduct a soft credit check for applicants, which will not impact their credit score, as stated by Apple. Customers also have the opportunity to lower their monthly payments by trading in an existing device and can earn 3% cash back when using an Apple Card.
At the conclusion of the lease, customers have the option to return the device, purchase it with a one-time payment, or upgrade to a newer model.
Current participants in Apple’s iPhone Upgrade Program will be able to transition to the new leasing plan once eligible, utilize Apple Card monthly installments, seek carrier financing, or purchase a device outright.
The program is accessible through Apple’s website, app, and retail stores across the U.S.
Also Read: Earnings Central: Beats, Misses and Everything In Between
