Apple Upgrade is the latest iteration of that vision. On Tuesday, Apple announced a new product leasing service that lets you rent products like a new iPhone, iPad, Mac, or Apple Watch. Apple Upgrade is a partnership with the financial company Klarna, known for its buy-now, pay-later services. Apple Upgrade also means the end of the company’s iPhone upgrade plan, a similar system that let people pay installments to buy the latest iPhone models. You can switch from the iPhone upgrade plan to Apple Upgrade through your Apple account.