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Apple Upgrade: 20 Things to Know Before Leasing an iPhone, iPad, or Mac
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@tooloud10 you've never slipped on ice? You're inhumanly infallible? Impressive!
PlayUltimate
macrumors 65816
jz0309
macrumors P6
Lots of us would absolutely be dumb to pay for Applecare because we're so much farther ahead by just self-insuring. Honestly it's wild to me that anyone would spend $14/month in perpetuity to insure a used device that's worth a grand or less.
This is also a "ah man, I need a new laptop now, but I really want to see what the OLED stuff ends up being like" solution. Get a modest laptop on lease now, turn it in in 24 and get the OLED.
That is why it’s confusing because the Apple Card installments you pay it all off. So what’s the difference here?
You're still paying a repair, one way or another. A cracked/destroyed screen is far more than $75/year.
jz0309
macrumors P6
if I want a high-spec Mac (could run $5-10k), I'd do the numbers ...
for an iPhone? not so much ...
for an iPhone? not so much ...
UhFive
macrumors regular
For me, I buy the new Pro Max every year with the Apple Card…this new AU program just saves me the time of selling my old one and paying off the balance.
Same outcome with a monthly payment but less work to sell last years model.
To each their own.
Looks like this article gets it wrong, Apple's FAQ says Klarna will accept some, but not all, credit cards, which should include the Apple Card.
Apple Upgrade - Lease iPhone, Mac, iPad, Watch
Get the products you really want with Apple Upgrade. Lease a new iPhone, iPad, Mac, or Apple Watch with low monthly payments and terms that work for you.
www.apple.com
Apple Card is a Mastercard on Goldman Sachs. But ironically enough, it will be transitioning to JP Morgan Chase over the next 2 years or so, so hopefully Klarna takes Chase by then?
jz0309
macrumors P6
not sure why it is confusing, re-read the article.
the new program has lower monthly payments but those do NOT pay off the device over time.
Apple Card does, and therefor has higher monthly payments
I'm trying to figur out how this compares to the current iPhone Update program. Today I pay a 24-month lease but can upgrade every 12. Effectively I sell back my current devise for 50% of the purchase price and start a new 24-month lease.
The way I read the new program is that I could buy on a 24-month lease, but if I want to upgrade after 12 months I'd have to buy out my device and then sell it at some non-predetermined price and, finally, start a new lease. Am I missing something? Is there a trade-in version under the new program too?
The way I read the new program is that I could buy on a 24-month lease, but if I want to upgrade after 12 months I'd have to buy out my device and then sell it at some non-predetermined price and, finally, start a new lease. Am I missing something? Is there a trade-in version under the new program too?
UhFive
macrumors regular
MacRumors wrong…noooLooks like this article gets it wrong, Apple's FAQ says Klarna will accept some, but not all, credit cards, which should include the Apple Card.
Apple Upgrade - Lease iPhone, Mac, iPad, Watch
Get the products you really want with Apple Upgrade. Lease a new iPhone, iPad, Mac, or Apple Watch with low monthly payments and terms that work for you.www.apple.com
Apple Card is a Mastercard on Goldman Sachs. But ironically enough, it will be transitioning to JP Morgan Chase over the next 2 years or so, so hopefully Klarna takes Chase by then?
/s
I personally find it baffling why someone would use a credit card to pay a lease payment, but to each their own. I guess if you're getting points or whatever.Looks like this article gets it wrong, Apple's FAQ says Klarna will accept some, but not all, credit cards, which should include the Apple Card.
Apple Upgrade - Lease iPhone, Mac, iPad, Watch
Get the products you really want with Apple Upgrade. Lease a new iPhone, iPad, Mac, or Apple Watch with low monthly payments and terms that work for you.www.apple.com
Apple Card is a Mastercard on Goldman Sachs. But ironically enough, it will be transitioning to JP Morgan Chase over the next 2 years or so, so hopefully Klarna takes Chase by then?
Eso
macrumors 68020
It's a line of credit. No credit account allows you to make payments from another credit card.
atomwork
macrumors 6502
Just stop buying into the hype you need each year the best iphone. it last 4 years. use the money for buying assets
Pretty simple and pretty convenient, especially if one likes to update one's phone every two years. Much lower monthly payment than using Apple Card payments. Just turn in the old phone and continue leasing a new one. If at the end of two years one wants the phone for some reason, or the resale price is greater than the remaining balance (which will likely be the case), one can buy it out for an inflation adjusted amount which is lower than it otherwise would be. People will flock to this so they can have a newer phone on a consistent basis without breaking the bank.
The leasing company will likely resale the old phone for more than the prorated price they paid Apple (which is less than the MRSP) might). That is one way they make money off of this deal.
The leasing company will likely resale the old phone for more than the prorated price they paid Apple (which is less than the MRSP) might). That is one way they make money off of this deal.
You can if you make higher monthly payments each month. iPhone for $1000, for example. Divide by 24 and make that payment each month instead of the minimum. In 24 months, and zero interest, it's yours.
Then the person who signed up for the lease is stupid. They still have to make the lease payments and since they no longer have the phone, they'll have to pay it off.
sw1tcher
macrumors 604
🤔
Apple Upgrade - Lease iPhone, Mac, iPad, Watch
Get the products you really want with Apple Upgrade. Lease a new iPhone, iPad, Mac, or Apple Watch with low monthly payments and terms that work for you.
www.apple.com
Which forms of payment are accepted for Apple Upgrade?
You can use all debit cards and most major credit cards for your Klarna payments. However, some card networks, like AMEX and UnionPay — and some card issuers, like Chase and Capital One — are not accepted at Klarna.
Apple accepts major credit and debit cards for charges associated with AppleCare and any accessories that are not financed. Apple Pay and PayPal are not accepted for Apple Upgrade.
Outside of iPhone, most devices only allow 12 months on ACMI. That means much higher payments.
I pay ~$20 for a Spigen Tough Armor for every phone I buy and I've never broken one. I threw away AppleCare on three iPhones then stopped buying it and haven't regretted it.
I would hope that Apple will pressure them on allowing it for the Apple Card if they're advertising this benefit.Looks like this article gets it wrong, Apple's FAQ says Klarna will accept some, but not all, credit cards, which should include the Apple Card.
Apple Upgrade - Lease iPhone, Mac, iPad, Watch
Get the products you really want with Apple Upgrade. Lease a new iPhone, iPad, Mac, or Apple Watch with low monthly payments and terms that work for you.www.apple.com
Apple Card is a Mastercard on Goldman Sachs. But ironically enough, it will be transitioning to JP Morgan Chase over the next 2 years or so, so hopefully Klarna takes Chase by then?
The replacement for iUP is the 12 month lease. Why? Because after a year on the 12 month lease you will have paid off ~50% of the device. Then you can either choose to upgrade and start a new lease, just like with iUP, or you can pay the rest of the 50% to keep it (the installments automatically convert to another 6 months if you don't pay off when the lease ends which will lower that lump sum).
Alternatively, once the lease is done, you can just return the device if you want out of the Apple ecosystem, where with iUP you would have been stuck for the other 50% of the device.