You Can Now Get A New Apple Mac Every 3 Years With Monthly Payments — Thanks To BestBuy

Best Buy Co Inc. (NYSE: BBY) has unveiled a Mac equivalent of Apple Inc.’s (NASDAQ: AAPL) iPhone Upgrade Program, enabling users to lease a laptop over three years. 

What Happened: On Monday, electronics retailer Best Buy, in partnership with finance firm Citizens Pay launched Upgrade+. The program makes it easy and affordable for customers to upgrade their Mac laptops with Apple silicon, including MacBook Air and MacBook Pro. 

Upgrade+ allows customers to finance a new Mac laptop with affordable payments divided over 36 months before upgrading the device to a more recent product in month 37. The eligibility is subject to credit approval among other factors. 

See Also: How To Buy Apple (AAPL) Shares

After 36 months, customers can either return the device and leave the program entirely or return the device and upgrade to the latest model, in which case Best Buy will make the last payment on behalf of the customer. It also means that customers must commit to another three years of payment. 

“By introducing Upgrade+, we’re bringing customers an affordable and approachable way to get their hands on some of the most exciting technology available,” said Jason Bonfig, Best Buy’s chief merchandising officer.

Why It’s Important: Best Buy’s Upgrade+ program comes at a time when reports about the Cupertino-based tech giant working on a subscription service for the iPhone and other hardware products are doing rounds.

The Upgrade+ service, in principle, is similar to Apple’s iPhone Upgrade Program. The program allows customers to receive a new iPhone every year after making at least 12 monthly payments, according to Apple Insider.  

Read Next: Apple Reinstates VKontakte, The Russian Equivalent Of Facebook, On App Store