Here's how to avoid being trapped in never-ending Apple Upgrade leases

Apple has officially rolled out its Apple Upgrade leasing program, a plan designed to reduce the upfront cost of devices by spreading payments monthly. The catch is that, like a car lease, it can trap customers in a cycle of upgrading rather than owning the product. The article notes that unlike Apple’s partial predecessor iPhone Upgrade Program, users do not automatically own the device after the term. To keep the device, a “balloon payment” is required, calculated as the difference between total lease payments and the device’s full retail price. Using a MacBook Pro example (16GB, 1TB), the 36-month option would require a $585 balloon payment. The piece suggests saving monthly to cover that amount if the goal is ownership, while users who want to upgrade can still sell the device and lease again.