OTTAWA — Apple has launched a new program allowing Americans to lease iPhones, iPads, Macs and Apple Watches, but Canadian customers are not included.The technology company announced Apple Upgrade on Tuesday, describing it as a hardware-leasing program offered through financial company Klarna.The program is available through Apple’s American website, its store application and retail locations across the United States.Apple has not announced any plans to introduce the service in Canada.Eligibility is restricted to U.S. residents with a Social Security number or individual taxpayer identification number. Devices must also be delivered to an American address or collected from an Apple Store in the U.S.Unlike conventional financing, customers do not automatically own the device after making the scheduled payments..At the end of a lease, customers may return the product, enter a new agreement to upgrade to a newer model or make a one-time payment to purchase it.“You will not own your device at the end of your lease, unless you pay the purchase fee,” Apple’s terms state.The company is offering 12- and 24-month leases for iPhones and Apple Watches, along with 24- and 36-month terms for Macs and iPads.Prices, listed in U.S. dollars, begin at US$17.99 per month for an iPhone, US$11.99 for an Apple Watch, US$24.99 for a Mac and US$11.99 for an iPad.An iPhone 17 Pro with 256 gigabytes of storage, for example, can be leased for US$31.99 per month over 24 months or US$45.99 over 12 months, excluding taxes and trade-in credits.Applicants are subject to credit approval by Klarna, although Apple says the initial inquiry will not affect their credit score.Customers can lower their monthly payments by trading in a device they already own.“At Apple, we put the customer at the centre of everything we do,” said Karen Rasmussen, Apple’s vice-president of the Apple Store online.“We’re thrilled that Apple Upgrade offers our customers, both online and in-store, a more flexible way to pay for the products they love.”Customers who end a lease early may face additional fees. Insurance is not included, and charges may apply if a returned product is lost, damaged or does not meet Apple’s condition requirements.Americans leasing an iPhone must also select an eligible plan from AT&T, T-Mobile or Verizon, although the device will remain unlocked.Apple said it will discontinue its existing iPhone Upgrade Program and iPhone Payments service in the United States following the launch.Canadian customers can continue to finance Apple purchases through Affirm, but that program operates as credit used to purchase a device rather than a consumer lease.Apple currently offers Canadian iPhone financing at zero per cent interest over 24 months. Its published rates for other products range from 4.99% to 7.99%.The company did not provide a timetable for expanding Apple Upgrade beyond the United States.
