Apple launches monthly lease for iPhone and Mac... key is 'no more than list price'

Apple launched Apple Upgrade, a lease-style monthly payment program for iPhone, iPad, Mac, and Apple Watch.

The plan runs 12 to 36 months with no down payment, no deposit, and no interest or extra fees.

At the end of the term, customers can return the device or buy it by paying the remaining balance.

Total payments are capped at the device’s original list price, keeping the cost from going above retail.