Apple introduced the program on July 28, allowing customers to lease Apple devices for a low monthly fee instead of paying the full price. The service is administered through Klarna and requires a soft credit check. Once a lease ends, customers can upgrade, pay to keep the device, or return it. Apple has not disclosed how the buyout fee will be calculated.

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A YouTuber named Vadim Yuryev explained how the leasing program works using a $2,999 MacBook Pro as an example.

Yuryev said a 36-month lease would cost $58 per month, with a $911 balance due at the end, but Apple gives lessees extra time to decide. He thinks paying off the balance makes sense because the device could be resold for a high price.

Yuryev emphasized that with Apple Upgrade, you never pay more than the device's original price, and there are no interest or lease fees. The main risk is missing payments or not paying the final balance.

An expert named Mark Gurman said that comparing prices and resale value requires running your own numbers, which many buyers might not do.

Buyers should be careful when considering any leasing arrangement, including Apple Upgrade.

The leasing program only benefits the consumer under specific conditions, and it doesn't lower the device's price, just spreads the cost into smaller payments. The best-case scenario requires saving up for a lump-sum payoff and reselling the device for its full value.

One strategy might be to wait a couple of years to buy a device at a lower price, then you'll own it outright with no extra calculations.

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Topics: Apple