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If you are sure you will replace your iPhone every year, Apple’s 12-month Apple Upgrade lease is the option that most closely fits that schedule. You return the phone at the end of the term rather than building ownership, and upgrading depends on approval and meeting the return requirements. Buying is a better fit if you may keep the phone longer, want to own it, or are willing to sell or trade it yourself.
There is no established universal cost winner. The right comparison is the lease’s total payments and return-related costs versus the purchase cost minus the resale or trade-in value you actually expect to receive.
What leasing an iPhone means in the United States
Apple announced Apple Upgrade in the United States on July 28, 2026. It is a lease provided by Klarna, not the former iPhone Upgrade Program loan. Apple also said it would stop offering new U.S. iPhone Upgrade Program and iPhone Payments options. Existing iPhone Upgrade Program members can continue their active loan; after 24 payments, the loan closes and the iPhone is theirs to keep. Apple’s transition FAQ and its July 28, 2026 launch announcement describe the change.
Apple Upgrade offers 12- or 24-month lease terms. At the end, a customer can upgrade, buy the leased phone, or return it and exit. Apple says iPhone leases are unlocked, but customers must select an eligible carrier—AT&T, T-Mobile, or Verizon. Prepaid carrier plans are not eligible, and carrier terms still apply. Eligibility and approval are required for an upgrade.
#1 Best Overall
- This phone is unlocked and compatible with any carrier of choice on GSM and CDMA networks (e.g. AT&T, T-Mobile, Sprint, Verizon, US Cellular, Cricket, Metro, Tracfone, Mint Mobile, etc.).
- Please check with your carrier to verify compatibility.
- The device does not come with headphones or a SIM card. It does include a generic (Mfi certified) charging cable.
- Tested for battery health and guaranteed to have a minimum battery capacity of 80%.
Lease or buy if you upgrade every year?
A 12-month lease aligns with an annual replacement cycle: you make payments for the term and return the phone if you do not want to buy it. Buying means you own the device once purchase payments are complete; you can then keep it, sell it, or trade it when you choose. Selling or trading requires you to manage the transaction, and any future proceeds are uncertain.
| Decision | Apple Upgrade lease | Buy outright or finance |
|---|---|---|
| Ownership | Return the phone to exit, or use the stated purchase option to keep it. | Own the phone after purchase payments are complete. |
| Annual replacement | A 12-month term matches yearly replacement, subject to approval and return condition. | Sell or trade the phone yourself and decide when to replace it. |
| Payments | Term payments; tax, optional protection, and possible condition costs can affect the total. | Purchase price upfront or financing payments; resale proceeds may offset some cost. |
| Flexibility | Early termination requires remaining lease payments plus applicable taxes. | You can keep, sell, or trade the owned phone, subject to any financing balance and offer terms. |
| Carrier options | An eligible carrier selection is required for a lease; prepaid plans are excluded. | Apple lists outright purchase, Apple financing, and carrier financing as routes; compare their terms. |
What Apple’s published lease figures do—and do not—show
Apple’s July 28, 2026 example lists an iPhone 17 Pro with 256GB storage at a $1,099 purchase price, excluding taxes and trade-in credit. Apple gives typical lease payments of $31.99 per month for 24 months or $45.99 per month for 12 months. The scheduled payments add up to $767.76 over 24 months or $551.88 over 12 months. Those sums are payments for the lease term and its return option; they are not a like-for-like final-cost comparison with the $1,099 purchase price, which buys ownership. Apple’s announcement provides the example.
Rank #2
- 6.9" LTPO Super Retina XDR OLED, 120Hz, HDR10, Dolby Vision, 1320x2868px at 460ppi, 1000 nits (typ), 2000 nits (HBM), 4685mAh Battery
- 1TB, 8GB RAM, Apple A18 Pro (3nm), Hexa-core (2x4.05 GHz + 4x2.42 GHz), Apple GPU 6-core, iOS 18, upgradable to iOS 18.3
- Rear camera: 48MP, f/1.8 (wide) + 12MP, f/2.8 (periscope telephoto) 5x optical zoom + 48MP, f/2.2 (ultrawide), TOF 3D LiDAR scanner (depth), Front Camera: 12MP, f/1.9 (wide)
- 2G: 850/900/1800/1900, 3G: HSDPA 850/900/1700(AWS)/1900/2100, 4G LTE: 1/2/3/4/5/7/8/12/13/14/17/18/19/20/25/26/28/29/30/32/34/38/39/40/41/42/48/53/66/71, 1/2/3/5/7/8/12/14/20/25/26/28/29/30/38/40/41/48/53/66/70/71/75/76/77/78/79/258/260/261 SA/NSA/Sub6/mmWave - Dual eSIM
- Unlocked for freedom to choose your carrier. Compatible with both GSM & CDMA networks. The phone is unlocked to work with all GSM Carriers & CDMA Carriers Including AT&T, T-Mobile, Verizon, Sprint., Etc.
In September 2026, Apple identified iPhone 18 Pro as a current model and advertised 24-month Apple Upgrade leases starting at $34.99 per month. That is a starting payment, not an individual approval quote or a complete cost comparison. Apple’s September announcement gives the figure.
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Rank #3
- 6.1inch Super Retina XDR display. Aluminum with color-infused glass back. Ring/Silent switch
- Dynamic Island. A magical way to interact with iPhone. A16 Bionic chip with 5-core GPU
- Advanced dual-camera system. 48MP Main | Ultra Wide. Super-high-resolution photos (24MP and 48MP). Next-generation portraits with Focus and Depth Control. 4X optical zoom range
- Emergency SOS via satellite. Crash Detection. Roadside Assistance via satellite
- Up to 26 hours video playback. USB C, Supports USB 2. Face ID
How to compare the real cost for your replacement date
- Set the same replacement date for both options. For an annual upgrade, compare costs through the end of 12 months; for a longer ownership plan, use the number of years you realistically expect to keep the phone.
- Add the lease costs. Total the scheduled payments for the term, applicable taxes, any optional protection you choose, and any return-condition charge you reasonably expect.
- Calculate the ownership cost. Include the purchase price and financing charges, then subtract a current trade-in offer or a realistic resale amount for that same replacement date. Do not assume future resale proceeds.
- Account for carrier terms separately. Include a carrier-plan cost or bill credit only if you qualify and can meet the associated requirements, such as plan, line, trade-in, or credit-period conditions.
Apple lists Apple Trade In, Apple financing, and carrier financing or deals as possible alternatives. A trade-in may reduce initial lease payments, but Apple says that credit applies to the initial lease term and cannot be applied again when upgrading. A headline carrier credit is not automatically equivalent to cash: check the offer’s plan, line, trade-in, and bill-credit conditions. Apple’s Apple Upgrade FAQ and iPhone buying options describe these routes.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Return condition, protection, and leaving early
Apple says the phone must be returned in good working condition to avoid damage fees. AppleCare is not included in Apple Upgrade; it is billed separately if selected. Apple says protection may help avoid damage fees on return, but the current lease information does not make AppleCare a requirement.
Rank #4
- This pre-owned product is not Apple certified, but has been professionally inspected, tested and cleaned by Amazon-qualified suppliers.
- There will be no visible cosmetic imperfections when held at an arm’s length.
- This product is eligible for a replacement or refund within 90 days of receipt if you are not satisfied.
- Product may come in generic Box.
If you end the lease early or upgrade early, Apple says you must pay all remaining lease payments plus applicable taxes. If you choose to buy the phone at the end, Apple describes the price as the list price at lease signing minus lease payments already made and any remaining trade-in credits, plus applicable taxes. Confirm the terms and figures shown when you sign, because lease and payment details can change.
Quick Recap
Best Value
- 6.7inch Super Retina XDR display. ProMotion technology. Always-On display. Titanium with textured matte glass back. Action button
- Dynamic Island. A magical way to interact with iPhone. A17 Pro chip with 6-core GPU
- Pro camera system. 48MP Main | Ultra Wide| Telephoto. Super-high-resolution photos (24MP and 48MP). Next-generation portraits with Focus and Depth Control. Up to 10x optical zoom range
- Emergency SOS via satellite. Crash Detection. Roadside Assistance via satellite
- Up to 29 hours video playback. USB-C, Supports USB 3 for up to 20x faster transfers. Face ID
Which option fits your situation?
- Choose a 12-month lease if you are committed to replacing your iPhone annually, value a predictable term and a return path, and accept that you do not own the phone unless you exercise the purchase option.
- Buy if you may keep the iPhone beyond a year, want ownership, or prefer the ability to sell or trade it on your own schedule.
- Compare financing offers carefully if you are considering a carrier deal. The plan and bill-credit conditions can change the effective cost, so compare the full terms rather than only the advertised credit.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
