What’s the catch with the Apple Upgrade program?
Apple's new Upgrade program allows customers to lease devices like iPhones and Macs with monthly payments, promising lower costs than outright purchases. However, the program functions as a loan with strict contractual obligations, and users must decide between upgrading, purchasing, or returning the device at the end of the term.
Why it matters
This program changes how consumers finance high-end hardware, potentially locking them into a perpetual cycle of leasing and upgrading within the Apple ecosystem.
Apple’s new Upgrade program is here, allowing you to lease select models of iPhones, iPads, Macs, and Watches with a relatively low monthly payment. The company promises you won’t pay more than the full price of the device over the course of the one- to three-year lease, and in some cases, you’ll pay hundreds of dollars less.
The basics of the program make it sound like an amazing deal… so surely there must be a catch, right?
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