Apple’s iPhone Leasing Program Explained: Real Savings vs Buying

Our Top Pick: Lease the iPhone 17 Pro Through Apple Upgrade

Apple’s iPhone leasing program, called Apple Upgrade, lets you use an iPhone for a fixed 12- or 24‑month term with predictable monthly phone payments, then either upgrade, buy the device outright, or return it, giving budget‑conscious buyers more flexibility than a traditional one‑time purchase. The best overall deal for most people is leasing the 256GB iPhone 17 Pro on a 12‑month Apple Upgrade term. You pay USD 45.99 (approx. RM215) per month for 12 months instead of the USD 1,099 (approx. RM5,140) retail price, and you save USD 547.12 (approx. RM2,560) over owning it outright. If you prefer lower monthly phone payments and a longer term, the 24‑month lease at USD 31.99 (approx. RM150) per month still cuts your total cost versus buying. Choose this route if you upgrade iPhones often and care more about having the latest model than permanent ownership.

How Apple Upgrade Works: Terms, Costs, and Credit Check

Apple Upgrade is a new device leasing program offered through Klarna that covers iPhone, Apple Watch, Mac, and iPad with fixed monthly payments and zero‑interest terms. For iPhones and Apple Watch, you can pick 12‑ or 24‑month leases, while Mac and iPad use 24‑ or 36‑month plans. Leasing prices start at USD 17.99 (approx. RM85) per month for iPhone, USD 11.99 (approx. RM55) for Apple Watch, USD 24.99 (approx. RM115) for Mac, and USD 11.99 (approx. RM55) for iPad. When you sign up, Apple runs a soft credit inquiry that does not affect your credit score, and Klarna handles billing and payment scheduling. "Apple says that enrolling in Apple Upgrade takes only a few minutes, either online or in‑store, and will include a soft credit inquiry that should not affect the applicant’s credit score." At the end of your term, you can upgrade to a newer device, buy your current one with a single payment, or return it and stop.

Lease vs Buy iPhone: Total Cost and Who Each Path Fits

If you care about total dollars spent, the iPhone Upgrade leasing program makes a strong case against buying outright. Leasing the 256GB iPhone 17 Pro for 12 months costs USD 551.88 (approx. RM2,580) instead of the USD 1,099 (approx. RM5,140) list price, a USD 547.12 (approx. RM2,560) saving while you use a top‑tier phone. Even stretching to 24 months at USD 31.99 (approx. RM150) per month still saves USD 331.24 (approx. RM1,550) versus purchasing. That math favors people who upgrade frequently, treat phones more like subscriptions, or prefer lower monthly phone payments with clear end dates. Traditional buying still suits those who keep an iPhone for many years and value long‑term ownership, but for most budget‑conscious shoppers who upgrade on a one‑ or two‑year cycle, it is hard to justify paying full price upfront when Apple Upgrade undercuts the total cost of ownership so heavily.

Best Use Cases and the All‑in‑One Combo Deal

Apple Upgrade stands out when you want more than a phone. You can lease a bundle with a base iPhone 17, a MacBook Air, and an Apple Watch for USD 61 (approx. RM285) per month, with the phone and watch on 2‑year terms and the MacBook Air on a 3‑year term. A commentator noted that this combo "would cost less than financing them upgrading and you could buy it out. 0% interest is killer." This type of deal is ideal if you plan to stay inside the Apple ecosystem and like predictable monthly tech expenses instead of big one‑off purchases. You can also lower your lease payments by trading in your current Apple device and earn 3 percent Daily Cash back on Apple Upgrade payments when using Apple Card. That mix of trade‑in credit, cashback, and discounted leasing makes Apple Upgrade most attractive for multi‑device households and upgrade‑happy users.

Buy if / Skip if

• Buy the iPhone 17 Pro 256GB lease if you upgrade phones every 1–2 years and want the lowest total cost while you use a flagship iPhone.
• Skip the iPhone 17 Pro 256GB lease if you usually keep your phone for many years and care more about owning it outright than saving in the short term.
• Buy the Apple Upgrade combo (iPhone 17 + MacBook Air + Apple Watch) if you want multiple Apple devices with one predictable monthly payment and zero‑interest leasing.
• Skip the Apple Upgrade combo if you only need a single device and don’t plan to stay inside the Apple ecosystem long term.
• Buy the broader iPhone leasing program if you want flexible 12‑ or 24‑month terms with the option to upgrade, purchase, or return at the end of your lease.
• Skip the broader iPhone leasing program if you dislike ongoing monthly phone payments and prefer paying once to own your devices without future obligations.