Apple Customers In The US Can Now Lease iPhones, iPads And Macs

Apple customers in the US will now be able to lease iPhones and other devices instead of buying them outright. The new program by the tech giant comes almost a month after Apple hiked prices of several products like iPads and Macs by $100 to $500.The new initiative by Apple is linked to rising memory chip costs and the AI boom, which have led to a jump in the price of electronic devices. The company has partnered with Klarna, which offers "buy now, pay later" services, for the venture, as per The Washington Post. The lease program, called Upgrade, requires a soft credit check. The lease can be availed in stores or online.Under the program, Apple Watches and iPhones can be leased on a 12- or 24-month basis. Macs and iPads will have a longer lease term, lasting either 24 or 36 months. The cheapest iPhone under the Upgrade lease program will cost $17.99 per month.Customers can end their subscription and keep their device at the end of the lease plan by paying it off. They also have the option to return the device and leave the program or upgrade to a newer model and start a new lease. If they buy the product, they will pay the difference. However, the total cost won't exceed the list price, according to PC Mag.What's In, What's Out In Apple's Lease Program?Customers can avail a lease on these products:iPhone 17 lineupiPhone AirApple Watch Series 11Apple Watch Ultra 3MacBook AirMacBook ProiMacMac StudioiPad AiriPad ProiPad MiniCheaper models such as the iPhone 16, base iPad, MacBook Neo and Apple Watch SE are not available under the plan.Apple's new leasing plan replaces its iPhone Upgrade Program, under which consumers could swap out iPhones after making 12 monthly payments. The new plan applies a similar concept to a bigger range of Apple products, as per CNN.The new leasing plan arrives ahead of Apple's anticipated iPhone launch in September. The Cupertino-based firm is expected to introduce its most expensive smartphone yet and a first for the company: a foldable iPhone.