Crunching the Numbers on Apple’s New Leasing Program

Launched on July 28, the Apple Upgrade program allows customers to lease iPhones, iPads, Macs, and Apple Watches through Klarna. Unlike traditional financing, the model carries no interest or additional lease fees, keeping the total cost capped at the device's original MSRP. Yuryev, a YouTuber known for his analysis on Max Tech, argues that the strategy becomes profitable only if the lessee pays off the final balance—such as the $911 due on a high-end MacBook Pro—and subsequently resells the hardware on the secondary market. By his estimation, a user could recoup enough value to offset the lease costs, provided they successfully flip the device for over $1,500.

Bloomberg’s Mark Gurman remains cautious, noting that few consumers perform the rigorous math required to determine if leasing outweighs the simplicity of an outright purchase. The arrangement introduces specific risks: failing to maintain payments or lacking the capital for the final lump-sum buyout could turn a convenient monthly plan into a financial burden. Furthermore, the strategy relies on a robust resale market, which could fluctuate if a surplus of leased devices hits platforms like eBay or Facebook Marketplace. Ultimately, the program does not offer a discount; it merely defers the cost, leaving the responsibility of long-term asset management squarely in the hands of the consumer.