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Apple Upgrade: 20 Things to Know Before Leasing an iPhone, iPad, or Mac
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SpanishAppleNerd
macrumors 6502
Probably a "mistake" on Apples part that will be fixed later without any notice, so people will still think its a possibility when paying for it.
I'm not sure how much one needs to get a new phone constantly, that this program with so many limitations and so few benefits would actually benefit from. Since you already need to be on a postpaid plan, why not just get on a contract with one of the providers and not have a final payment due?
I don’t see the downside of this if you upgrade yearly / don’t like to the hassle of selling devices. You still have the option to buy and not pay anything above what the cost was at purchase. I personally would rather pay less monthly, not have a balance showing monthly on my CC and have the option to buy to sell for more or just keep.
You can finance it on your Apple Card but that balance carries over on your credit report monthly.
You can finance it on your Apple Card but that balance carries over on your credit report monthly.
B4U
macrumors 601
This statement makes no sense.
We have more information on Apple Upgrade in our full article, along with details on pricing.
- No Lockout - Code in the iOS 27 beta suggested Apple could restrict apps and services if there are missed payments on a leased device, but it's not for Apple Upgrade. Missing a payment won't change how your iPhone works.
Article Link: Apple Upgrade: 20 Things to Know Before Leasing an iPhone, iPad, or Mac
First half says Apple could restrict apps and services. Second half says won't change how your iPhone works.
I guess if you are the type to upgrade every few years, this keeps that monthly payment a few bucks cheaper.
It encourages someone to turn it in to get the new device over paying a larger lump sum they likely don't want to pay out for.
Lump sum to pay off 2-3 year old device, or get something new at the smaller monthly payment.
It encourages someone to turn it in to get the new device over paying a larger lump sum they likely don't want to pay out for.
Lump sum to pay off 2-3 year old device, or get something new at the smaller monthly payment.
ClaraStahlbaum
macrumors 6502a
To me, I am someone who gets a new phone every year so this may very well be something for me to do.
Lots of comments about the program but let's not forget Apple's timing is not coincidental - this was announced alongside rising device costs. Apple increases prices and it becomes more palatable as a monthly recurring cost. The foldable is anticipated to be in the high $1000s or $2000 range. Insane.
OR, in the future, lock features behind a further paywall that work on the device out the box. Like BMW etc are now doing.
Uh oh.
parisi2274
macrumors member
Maybe I am reading this incorrectly, or just not understanding it, but...
My primary debit card and Credit Card are both issued by Chase, does this mean I am going to be unable to enroll in the Apple Upgrade Program, seeing as I do not have any other Debit or CC's to use? Alternatively, are people looking to enroll this, could they set it up so that the monthly payments come straight out of their checking account by using a banks routing number and your checking account number?
- Payment Restrictions - Klarna doesn't accept some credit cards, like AMEX, Chase, and Capital One. Other credit cards like the Apple Card can be used for Apple Upgrade payments to Klarna.
My primary debit card and Credit Card are both issued by Chase, does this mean I am going to be unable to enroll in the Apple Upgrade Program, seeing as I do not have any other Debit or CC's to use? Alternatively, are people looking to enroll this, could they set it up so that the monthly payments come straight out of their checking account by using a banks routing number and your checking account number?
What are you all doing on your phones that you need to upgrade each year? This is such a horrible corporate greed aimed at our (already weakening) expense. I understand if owning an iPhone is important because say you’ve bought apps or your family and friends are on the same ecosystem, but my 12 Pro Max worked great until a few weeks ago when it was physically damaged, and I replaced it with a $500 iPhone 15 Pro Max with a brand new genuine Apple battery with 100% health. And even this feels like an overkill.
If you’re rolling in cash, even if it’s a disposable income, maybe move that money into the market or simply a CD or bonds. Heck, take cooking lessons. Learn photography. Or travel with it!
YOLO, I get that, but is this how we are supposed to celebrate YOLO now, upgrading a data collection and consumption device every year? Consumption is not exactly our civic duty. As a middle aged parent, this truly scares me about my kid’s future!
We succumb to this and just like digital media and other things, they might eventually stop selling us phones altogether to own fully, and make us lease them always.
If you’re rolling in cash, even if it’s a disposable income, maybe move that money into the market or simply a CD or bonds. Heck, take cooking lessons. Learn photography. Or travel with it!
YOLO, I get that, but is this how we are supposed to celebrate YOLO now, upgrading a data collection and consumption device every year? Consumption is not exactly our civic duty. As a middle aged parent, this truly scares me about my kid’s future!
We succumb to this and just like digital media and other things, they might eventually stop selling us phones altogether to own fully, and make us lease them always.
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They can't allow Apple Card payments. You are not allowed to use a credit card to pay a debt collector, loan servicer, or another credit card bill with a credit card because it's considered "circular debt" and the issuers prohibit this.
I think the idea is that the end user does not OWN the device, unless final payout is made at the end of the lease. Why do people lease cars? In the end, it is about a much lower payment -- the lease program appears to be 1/4 the monthy payment (but, over 3 years), as opposed to a larger payment for 1 year (looked at apple site just now). This gives an end user access, perhaps, to a higher-end device at a lower cost, and every 3 years, upgrade and continue. If "ownership" is not a big deal, then this may provide someone with a "recently updated" device at all times, but less money than owning, trying to trade-in or sell, buying a new one in 3 years, etc...
Personally, I like the ownership part, and I tend to use a device much longer than 3 years, and so far, works for me...
I mean it IS discrimination. Barring anyone except the wealthy from credit has a profound effect on upward mobility in society. The whole reason we have credit unions is in fact because it used to be that banks would only lend to the rich and that meant the poor could never be anything but. Credit unions came together and pooled resources so that they could elevate the poor. That showed the banks that gambling on the poor could actually be beneficial to business and they started doing the same but even still to this day credit unions tend to offer more favorable rates to their members.
Now obviously things are a bit different with a leasing program for phones but I would argue that a leasing program for Macs and iPads is incredibly valuable for poor families trying to put their kids through school.
I also live on a fixed income and due to requiring long term care Medicaid I have a $2K asset limit for my accounts and a significant chunk of savings that I can only use for specific purposes in an ABLE account. Every large purchase in my life is financed at 0%, paid on time, and eventually paid in full. I never allow myself to get in more debt than I have savings for (in fact my current month to month debt load is less than 10% of my current ABLE savings balance) but programs like this enable me to buy things without having to use credit cards and pay interest (I typically float these large purchases on a credit card opened with a 0% on purchases APR and pay it off before the intro APR ends, opening a new 0% card around a month before that happens). That said, I'll probably keep using my Apple Card unless/until Chase kills ACMI because I don't have a very high opinion of BNPL providers (I've never used one but I've seen the complaints).
If I use my debit card with Klarna, would the monthly payments for leasing such a Mac be automatic? That I can manage.
Also regarding the Mac Mini being ineligible, hopefully it's only because of the memory shortage, and once the M6 and M5 Pro-enabled Mac Minis come out, those will be eligible. Or if not, I can then lease a Mac Studios as my next Apple desktop computer, as paying $75 a month for three years should be something I'd be able to manage.
midori matcha
macrumors newbie
Please clarify this scenario for me:
I want an unlocked iPhone that I can pay in installments. I use an MVNO prepaid carrier that requires an unlocked iPhone.
What do I have to do with one of the Big Three carriers at checkout when I lease a new iPhone? Am I required to purchase a cellular plan with AT&T/Verizon/T-Mobile? Am I pretending to make a new account with them to get the iPhone activated through the setup screen flow?
All I want in the end is an unlocked iPhone on a payment plan, so I can continue using my prepaid carrier.
Currently unless you want a base model you just have to select T-Mobile and then when you get the phone, it will prompt you to connect it to T-Mobile. Skip that and then say you didn't get the verification code. You'll have to do this three times and it will give up and you'll have a fully unlocked model.
Now that's not to say Apple won't plug that hole before the new phones release though but this particular loophole has been around for years on ACMI (you could even use it for iUP before that).
If you want a base model, you're out of luck, as any carrier selection will require you to log in to check eligibility to remove the $30 extra fee.
AriaAmaris
macrumors regular
Don't rent electronics. Likely you'll get hit with battery wear and scratch charges when the lease ends.
Blackhawk287
macrumors newbie
Still agree with OP. How about save your cash, and buy it when you can afford to buy it?
Exactly. People making excuses for poor financial decisions.
TruthAboveAllElse
macrumors 6502a
In the words of M.I.A. “YOLO? I don't even know anymore, what that even mean though
If you only live once why we keep doing the same 💩
Back home where I come from we keep being born again and again and again”
From Y.A.L.A.
You can buy it at the end and have it repaired. If you bought the device day one you would still have those scratches and battery wear.
jamescharley22
macrumors regular
Sure it’ll take some time before we’re fully there but won’t Apple Card transitioning to Chase mean users wanting to use their Apple Card for payment and 3% back won’t be able to? Kinda seems like maybe this partnership wasn’t well thought out.
Yeah, it's more "rent to own" than just renting. And if I'm understanding correctly, it's literally just (in the case of the MBA13) $25*36=900, $1299-$900=$400 at the end of the lease to buy it. If I'm wrong, please correct me. But it's more to me a case of zero percent financing with a balloon payment at the end.
That is correct. Well it’s still the device cost and the end of the day. You are just making sure you pay off the rest. The statement and comments from others indicate that “balloon payment” you mention is an add on cost but it’s not. If you want a 10k Mac Studio and buy it at the end it will end up at 10k spent. No extras.