Upgrade Financing allows you to purchase eligible Apple products with low monthly payments over a period of 24 or 36 months. The total price of the device is split into two parts:
Monthly payments: You’ll make 24 or 36 equal monthly payments, depending on the device, with an APR ranging from 0.00-35.99% based on your credit.
Final payment (“balloon payment”): After your monthly payments have ended, there’s a 25th or 37th final payment, which covers the remaining balance of the device. This final payment has 0% APR.
This structure allows for lower monthly payments compared to traditional financing.
At the end of your payment plan, you have the following options:
Upgrade: Trade your device in for an upgrade and apply for a new payment plan. Its value may pay down the final payment depending on device condition.
Keep: Make the final payment and the device is yours to keep.
Return: Return your device to receive credit toward your final payment —credit amount depends on the device’s condition.
Mac laptops, iPad and Apple Watch are eligible for Upgrade Financing. All other products and accessories can be purchased using Pay in 4, Term Loan or Pay in full.
Shop Mac laptops, iPad, or Apple Watch. Upgrade Financing will appear on the product page and at checkout. A credit check will be performed at checkout to determine your eligibility.
At the end of your payment plan, you have the following options:
Upgrade: Trade your device in for an upgrade and start a new payment plan. Its value may pay down the final payment depending on device condition.
Keep: Make the final payment and the device is yours to keep.
Return: Return your device to receive credit toward your final payment —credit amount depends on the device’s condition.
No, with Upgrade Financing, you have the choice to own, upgrade, keep, or return your device at the end of your monthly payments. Choose the option that works best for you.
Our program does not support early upgrades at this time. Customers can upgrade to the latest products at the end of their loan period.
When it comes close to your time to upgrade, we email you with all the necessary information and timelines you need to follow.
To be upgrade eligible, the Upgrade Financing term length will need to have passed (either 24 or 36 months depending on the device purchased).
You will first choose a new device to upgrade to within the Apple from Klarna storefront. This will require applying for and starting a new Upgrade Financing payment plan.
Once you receive the new device, you will perform any data transfers needed between your current and new device.
Then, send in your old device in good working condition¹ so that Klarna may credit the final payment on your previous loan agreement. CarltonOne and/or the trade-in provider will provide all the necessary shipping materials needed to return your device.
For information on trade-in timing requirements, please see "What happens if I miss the window to trade in my device?" here.
¹View the device requirements to meet good working conditions in our Trade-In Eligibility FAQ.
Yes. In your Klarna account, you can make early or additional payments to your loan and can pay off the loan agreement early.
Paying off your loan early will not prevent you from being able to upgrade, but you will have to wait until the end of your designated loan term to be able to do so.
If you pay off the entire loan early (including the final payment amount outside of your monthly payments), you may be later reimbursed for the final installment amount if you return your device in good working condition.¹
¹View the device requirements to meet good working conditions in our Trade-In Eligibility FAQ.
When it comes close to your time to upgrade, we email you with all the necessary information and timelines you need to follow.
You will have one month to inform Klarna of your decision to either trade in or keep your device. This window starts after your 24th or 36th monthly payment and will expire on the due date of your final payment (25th or 37th payment). If you do not initiate a trade-in before the final payment is due, you will not be eligible to trade in the device and must complete your final payment. You may have the right to refinance the final payment, subject to credit approval and an APR.
The details regarding any fees or interest rates will be provided during the checkout process. Ensure you review all terms and conditions before confirming your purchase.
For any questions related to your payment plan, feel free to contact Klarna customer service or through your Klarna account.
See information about “Trade-In Eligibility" here.