Apple has announced a new financing program called “Flexible Finance Account” in the UK, replacing the popular iPhone Upgrade Program.
The move marks a major change for customers accustomed to the old program, which allowed users to pay a monthly subscription and upgrade to the latest iPhone on an annual basis after making 12 payments.
Another big news for iPhone users is that the new program includes 0% AppleCare+.
Apple’s UK website confirmed the end of the iPhone Upgrade Program, saying: “We think you’ll love what’s next.” »
The new Flexible Finance account is billed as a line of credit that provides “even more options” and flexibility for future Apple Store purchases.
While some of the major deals are still interest-free, like all current iPhone 17 models and all iPhone 16 models on certain terms like 20 or 24 months, the new system now applies interest rates for longer-term financing of other products.
For example, financing an iPad or Apple Vision Pro over 36 months will now carry an APR of 14.9%.
Although the upgrade plan will change in the UK, it will remain the same in the US and other markets.
UK customers already using the service are encouraged to continue with their current payments until they are eligible for an upgrade, after which they will be migrated to the new system.
Apple emphasizes that the new account system allows for one-time approval for future purchases.
