Apple Financing and Monthly Installments, Explained
Apple offers 0% APR Apple Card Monthly Installments, Klarna leases through Apple Upgrade, 0% carrier financing on iPhone and pay later, but no layaway.
By Olivia HarperContributing writer. Policy checked .
On this page
Store policies change. This is a summary in our own words of Apple's US Financing page and its Apple Card Monthly Installments page, read on October 26, 2026. Check them before you apply.
The four ways to spread the cost
| Option | Who provides it | Cost | Where it shows |
|---|---|---|---|
| Apple Card Monthly Installments | Apple Card (Goldman Sachs Bank USA) | 0% APR on eligible products | Your Apple Card bill |
| Apple Upgrade lease | Klarna | Monthly lease payments | Klarna account |
| Carrier financing (iPhone) | AT&T, T-Mobile or Verizon | 0% APR over 36 months | Your phone bill |
| Pay later through Apple Pay | Affirm or Klarna | Set by the lender | The lender's account |
Apple's Financing page lists no layaway plan. All four options above let you take the product home first and pay over time.
Apple Card Monthly Installments
This is the option most people mean by Apple financing. You need an Apple Card, which you apply for in the Wallet app on an iPhone, and you must pick Apple Card Monthly Installments at checkout on apple.com, in the Apple Store app, in an Apple Store or by phone at 1-800-MY-APPLE. Paying in one go with the same card does not count; that purchase carries the card's normal rate.
Apple lists these terms on its Financing page:
| Product | Months |
|---|---|
| iPhone | 24 |
| Mac, iPad, Apple Watch, Apple Vision Pro | 12 |
| AirPods | 6 |
What to watch:
- Taxes and shipping are charged at your card's variable APR, not at 0%. Apple says new Apple Card accounts had a variable APR of 17.74% to 27.99% as of October 1, 2026.
- Daily Cash: Apple pays 3% Daily Cash on Apple purchases, all up front.
- iPhone carriers: an iPhone on installments must be set up with AT&T, T-Mobile or Verizon, no prepaid plans, and it comes unlocked.
- Exclusions: the Monthly Installments page excludes refurbished devices, the Veterans and Military and Government purchase programs and employee purchase programs. The Financing page says the Education store and discount do qualify.
- Checking eligibility: Apple says applying does not affect your credit score, but accepting an approved card causes a hard inquiry.
Apple Upgrade lease
Apple Upgrade is a lease, not a loan, provided by Klarna for an iPhone, iPad, Mac or Apple Watch. Terms are 12, 24 or 36 months, though not every term is offered for every model. The first payment is due about 30 days after the device ships or is ready for pickup. You must be a US resident aged 18 or older with a Klarna account. At the end you can lease a new device and return the old one. Ending a lease early can cost up to the remaining payments, and a device returned damaged may bring fees.
Carrier financing and pay later
Apple Stores and apple.com can set up carrier financing on an iPhone, splitting the price over 36 months at 0% APR on your carrier bill.
When shopping online or in apps on an iPhone or iPad, Apple Pay can also offer buy now, pay later loans from Affirm or Klarna through the Other Cards & Pay Later Options choice. Apple says it does not make these loans; the lender approves you and may report to credit bureaus.
Sources
Financing and Apple Card Monthly Installments, Apple. Policy checked October 26, 2026.