Apple’s leasing gamble
The move comes just weeks after the company raised product prices. The new program has sparked questions, but it hides a clever financial trick for customers.
Here’s how it works: if you decide to buy the device after the lease, you’ll never pay more than the device’s original price. This creates a built-in price cap for users. For the iPhone 17 Pro, that base cost is $1,099.
The math behind the lease
Take a 24-month lease on the iPhone 17 Pro at $31.99 a month. After 24 months, you’ll have paid $770. If you want to keep the phone, you’ll only pay $330 extra — not a full $1,099. That’s the buyout amount, calculated as $1,099 minus your $770 in payments.
The formula is straightforward, but it’s not the same as traditional leasing. There’s no hidden interest or balloon payments. If you want to avoid those fees entirely, just adjust your monthly payment. Divide your purchase price by the number of months in your lease and you’ll end up owning the device for free at the end.
The catch — and why it still works
If you keep leasing and never buy out, the program adds up. That’s a cost trap for some users. But as a structured way to own Apple products with no interest, it’s a clean deal. If you trade in a device every year or two, your costs keep climbing.
Still, for those who want a clear path to ownership, Apple Upgrade is a better buy. The company is offering a loan-like structure with no added fees. If you use the program and buy out after the lease, you pay less than you would by buying up front.
Apple Upgrade is a new leasing program announced today that enables you to get Apple products via a low-cost monthly subscription. Here’s what every eligible product costs with Apple Upgrade. iPhone Here’s current pricing for each iPhone model using 24-month Apple Upgrade leasing plans: - iPhone 17 Pro: $31.99/month - iPhone 17 Pro Max: $34.99/month - iPhone Air: $28.99/month - iPhone 17: $22.99/month - iPhone 17e: $17.99/month Each of these is the base model, but you can select higher storage tiers with minor price increases. If you’re interested in 12-month plans, those are available too but at higher monthly costs. iPad Here is the iPad pricing for 36-month Apple Upgrade leasing plans: - iPad Air 11-inch: $15.99/month - iPad Air 13-inch: $19.99/month - iPad Pro 11-inch: $24.99/month - iPad Pro 13-inch: $30.99/month - iPad mini: $11.99/month Again, these are base model prices, so spec upgrades will cost marginally more. And if you’d like a shorter lease term, you can get a 24-month plan instead with higher monthly costs. Mac Here is Apple’s pricing for Macs on 36-month Apple Upgrade leasing plans: - MacBook Air 13-inch: $24.99/month - MacBook Air 15-inch: $28.99/month - MacBook Pro 14-inch: $38.99/month - MacBook Pro 16-inch: $57.99/month - iMac: $28.99/month - Mac Studio: $48.99/month Upgrading your model’s RAM, storage, or other configuration options will increase the monthly cost. Apple Watch Here is Apple Watch pricing for 24-month Apple Upgrade leasing plans: - Apple Watch Series 11 (42mm): $11.99/month - Apple Watch Series 11 (46mm): $12.85/month - Apple Watch Ultra 3: $24.99/month You can optionally enroll in a 12-month lease on Apple Watch models instead, which raises the monthly pricing.