Apple has launched its new Apple Upgrade program, effectively replacing the iPhone Upgrade Program. While both offer monthly payment options for Apple devices, key differences exist.

Firstly, Apple Upgrade is a leasing program, meaning users don't own the device outright during the payment term. In contrast, the iPhone Upgrade Program involved financing, where users eventually owned the device. Apple Upgrade offers lower monthly payments, partly because Apple Care is optional, not mandatory as it was with the iPhone Upgrade Program. This also means a final buyout cost to own the device at the end of the lease term.

Furthermore, Apple Upgrade is not limited to iPhones. Users can lease Macs, iPads, and Apple Watches through this program, with varying lease terms. The iPhone Upgrade Program, as its name implies, was exclusive to iPhones. This broader scope allows users to potentially lease multiple Apple products simultaneously, though each requires a separate application.