Apple Upgrade installment program set to go live on Tuesday

Apple Upgrade, the company’s new installment program, will be going live on July 28, coinciding with the ending of sign-ups for the iPhone Upgrade Program.

On July 21, a report surfaced claiming that the iPhone Upgrade Program was on borrowed time, and was due to be replaced. It seems that the replacement, Apple Upgrade, will be arriving very soon.

Posted as part of Sunday’s “Power On” newsletter for Bloomberg, Mark Gurman writes that Apple Upgrade will launch on Tuesday. At the same time, Apple will stop new enrollments for the iPhone Upgrade Program.

Consumers already on the iPhone Upgrade Program can continue to use it, but new plans will not be set up.

While a leasing program at its core, Apple Upgrade differs from the iPhone Upgrade Program in a few ways.

The first big change is that it’s not just limited to iPhones. Consumers will be able to sign up for an iPhone, iPad, Mac, or Apple Watch.

Plans will last 24 or 36 months, depending on the product, and subscribers will be allowed to upgrade early to newer models instead of completing the entire term.

Not every model will be available either, with budget-oriented options like the Apple Watch SE and the MacBook Neo apparently off-limits. Business and education purchases will not be able to use the facility, either.

A second variation from the old program is that there won’t be AppleCare included in the plan. The iPhone Upgrade Program included it as standard, but now consumers have to pick it up separately.

Lastly, the backer of the program is different. The iPhone Upgrade Program was backed by Citizen Bank, but now Apple Upgrade will be handled financially by Klarna.