Apple has announced a new financing plan 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 fee and upgrade to the latest iPhone annually after making 12 payments.
Another important news for iPhone users is the new program that includes AppleCare+ at 0%.
Apple’s UK website confirmed the end of the iPhone upgrade programme, saying: “We think you’ll love what’s next.”
The new Flexible Finance Account is known as a line of credit that provides “even more options” and flexibility for future purchases at the Apple Store.
Although some of the main offers remain interest-free, such as all current iPhone 17 models and all iPhone 16 models in certain terms such as 20 or 24 months, the new system now applies interest rates to finance longer terms for other products.
For example, financing an iPad or Apple Vision Pro for 36 months will now earn an APR of 14.9%.
Although the update plan changes 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 qualify for an upgrade, at which point they will be moved to the new system.
Apple notes that the new account system allows for one-time approval for future purchases.
