Apple Upgrade launched yesterday, a new leasing program for iPhone, iPad, Mac, and Apple Watch (pricing here). The program has garnered some skepticism, but there’s one key reason I think it’s a great deal for users.

Apple recently raised prices on most of its products, then just a few weeks later launched a new leasing program as the solution for higher prices.

Apple Upgrade might always have been met with skepticism, but the timing of these events understandably has some users leery.

But after reading all the fine print and scouring program details, I think Apple Upgrade is a surprisingly great deal.

That’s largely for one reason: if you choose to buy out a product, you’ll never pay more than its original list price.

With Apple Upgrade, you sign up for a lease ranging from 12 to 36 months and get a new Apple product with:

• low monthly payments
• no down payment or security deposit
• zero interest or additional fees

You don’t own the product right away, but here’s the thing: when your lease term ends, you always have the option of buying the product then.

The buyout price is simple: list price – lease payments you’ve made = buyout amount.

So with iPhone 17 Pro, the base model costs $1,099. You can pay $31.99 for 24 months, which means you’ll have paid around $770 when the lease ends. If you then want to own the device, you’ll only pay about $330 more.

Essentially, Apple is loaning its products out with zero interest or other fees while you slowly pay over time.

If you decide to simply trade in your device every year or two for a newer model, perpetually leasing products, then yes it will cost you more money in the long run.

But as a new, more accessible way to buy products, Apple Upgrade actually looks like a great deal.

What are your thoughts on Apple Upgrade, and do you plan to use it? Let us know in the comments.

• AirPods Pro 3 (now only $199, down from $249)
• MagSafe Car Mount for iPhone
• 10-year AirTag battery case
• 100W USB-C fast charging power adapter
• AirTag 2 (1-pack / 4-pack)