Apple has revealed its new hardware leasing program called Apple Upgrade, which is being offered in collaboration with Klarna. You can also terminate your lease early if you pay the remaining lease payments in full plus any taxes and fees. You can also trade in your old iPhone, ending your finance contract, and buy a new full price iPhone. The monthly payments on a leased device look very attractive compared to the pay-up-front price. For years, car leases have induced people into monthly payments that can become a burden when their financial situation changes.