Apple Pay Later is no longer an option for new U.S. loans, but Apple device shoppers still have several ways to spread payments or reduce upfront costs. The right choice depends on ownership, carrier flexibility, credit approval, and the total amount paid.
As of September 1, 2026, Apple Pay Later is not available for new loans in the United States. Apple announced the service change on June 17, 2024, as the company shifted toward installment loans offered through participating banks, card issuers, and other lenders.
Apple Pay Later originally allowed approved U.S. customers to divide eligible purchases into four interest-free payments over six weeks, without fees. Customers with open Apple Pay Later loans can still manage and repay them through Apple Wallet, but the service is not a financing choice for new Apple purchases.
The main Apple-branded financing option currently available in the United States is Apple Card Monthly Installments, commonly called ACMI. ACMI provides a 0% annual percentage rate payment option for eligible products purchased through an Apple Store location, apple.com, the Apple Store app, or Apple telephone sales.
The installment choice must be selected during checkout. Using Apple Card as a normal payment does not automatically create a 0% installment plan. ACMI remains subject to Apple Card approval, available credit, product eligibility, and the applicable Apple Card terms.
Eligible product categories include iPhone, iPad, Mac, Apple Watch, Apple Vision Pro, Apple TV, AirPods, Beats Flex, Studio Display, and certain Apple-branded or third-party accessories. Eligibility and repayment periods can change, so the checkout details matter.
An iPhone purchased with ACMI has one monthly installment for 24 months. An iPad, Apple Watch, Apple Vision Pro, Mac, or Studio Display generally has one monthly installment for 12 months. Apple TV, AirPods, and Beats Flex generally use a six-month period.
Certain eligible accessories, including selected cases, Apple Pencil products, Apple Watch bands, MagSafe chargers, and other listed items, generally use a 12-month term. A product price alone does not determine the monthly amount because taxes, shipping, trade-in credits, and any selected AppleCare plan can affect the transaction.
Taxes and shipping charges on ACMI purchases are subject to the standard variable Apple Card purchase APR rather than the 0% ACMI rate. If an ACMI-eligible product is purchased with an AppleCare plan in the same transaction, Apple creates a separate 0% installment for the AppleCare purchase.
For an iPhone purchase using ACMI, checkout requires selection of AT&T, T-Mobile, or Verizon. Prepaid carrier plans are not supported for this ACMI iPhone financing route. Apple states that an iPhone purchased with ACMI is unlocked, allowing a carrier change later subject to the carrier's own service terms.
Apple advertises 3% Daily Cash on eligible Apple product purchases made with Apple Card, including purchases financed through ACMI. The cash back is provided up front according to the applicable terms. Existing Apple Card holders do not need a separate Apple Card application to use ACMI, although enough available credit is still required.
Applicants can apply for Apple Card during checkout, but approval remains subject to review. Apple Card is available only to qualifying U.S. applicants.
Carrier financing is another major route for paying for an iPhone over time. Apple describes carrier financing through AT&T, T-Mobile, and Verizon as 0% annual percentage rate installment plans with 24- or 36-month terms. Payments appear on the regular wireless bill.
Carrier promotions may reduce the effective monthly cost through trade-in credits, bill credits, connectivity discounts, or other conditions. A promotion may require activation of an eligible plan, a qualifying trade-in, a new line, or continued service for the installment period. A promotional credit may stop if service changes or ends before the carrier's requirements are met.
The key distinction is device ownership status. Apple states that iPhones financed through the AT&T Installment Plan, T-Mobile Equipment Installment Plan, or Verizon Device Payment Program remain locked to the carrier until paid in full. An iPhone purchased outright or financed with ACMI is generally described by Apple as unlocked. Comparison should include the device cost, wireless plan, trade-in rules, bill-credit schedule, payoff rules, and unlocking policy rather than only the advertised monthly payment.
Apple introduced Apple Upgrade in the United States on July 28, 2026. The hardware leasing program is provided in partnership with Klarna and is available online, in the Apple Store app, and at Apple Store locations.
Apple Upgrade offers 12- and 24-month lease terms for iPhone and Apple Watch, plus 24- and 36-month lease terms for Mac and iPad. Apple lists starting lease prices of $17.99 per month for iPhone, $11.99 per month for Apple Watch, $24.99 per month for Mac, and $11.99 per month for iPad. Actual payments depend on the product, configuration, lease term, trade-in, approval, and other terms.
A lease does not automatically provide ownership after the final payment. At the end of the lease, the customer can upgrade to a newer eligible device, purchase the leased product with a one-time payment, or return it and leave the program. An upgrade requires a new lease and the return of the previous device in accordance with program condition requirements.
Early upgrades may be possible, but Apple states that an early-upgrade fee can be as much as the remaining lease payments. Applicants receive a soft credit inquiry that does not affect the credit score, although approval is still required. Apple Upgrade replaced the iPhone Upgrade Program and iPhone Payments in the United States.
Apple Pay remains a gateway to third-party installment plans, which is different from Apple Pay Later. Eligible customers checking out with Apple Pay on an iPhone or iPad may see a Pay Later option supplied by a supported debit or credit card issuer or installment provider.
Online and in-app installment purchases require iOS 18 or iPadOS 18 or later. In-store installment purchases require an iPhone running iOS 26 or later. Providers may include Affirm or Klarna, depending on the market, purchase, device, and account.
The customer contracts with the third-party lender or provider rather than Apple. Approval, interest rates, fees, repayment schedules, credit reporting, eligible purchases, and refund handling depend on that provider's terms. An installment option may not appear for every shopper or every Apple product.
Financing is not required. Apple lists Apple Pay, Apple Card, eligible credit or debit cards, PayPal, Apple Gift Card, and Apple Account balance as payment methods. In the United States, accepted credit-card networks include American Express, Discover, Mastercard, UnionPay, and Visa.
Apple Trade In can reduce the amount paid upfront or financed. Trade-in value depends on the device model, manufacturer, and condition. Online estimates are confirmed after the device is received and inspected, while online and in-store trade-ins are both offered.
For monthly purchases, an estimated trade-in credit is applied directly to the new product price. Apple may charge the original payment method for a difference if the submitted device does not match its described condition. If the net price after trade-in is below $99 for a new iPhone or below $25 for a new iPad, Mac, or Apple Watch, a monthly-payment option may not be offered.
Apple Pay Later has ended for new U.S. loans, but ACMI, carrier financing, Apple Upgrade, third-party installment plans, upfront payment, and trade-in credit remain possible paths. Careful comparison of interest, fees, device ownership, carrier locks, credit terms, trade-in conditions, and total cost can support a better-informed purchase decision.
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