Best Buy launched the Upgrade Plus program for Mac laptops

Best Buy’s new MacBook upgrade program requires you to make three years of monthly payments before you can upgrade to the latest and greatest machine. It’s called Upgrade Plus, and it allows people with approved credit to finance a MacBook Pro or MacBook Air through Citizens Bank.

Best Buy, for example, claims that you can buy the $999 M1-powered MacBook Air for as low as $19.99 for 36 months and then pay the remaining $280.35 in month 37 to keep the device. That is, guessing you qualify for a zero-percent APR offer — according to the program’s FAQ, offers may carry interest rates of up to 29.99 percent, depending on creditworthiness.

If you do not want to pay the higher amount on the final payment, Best Buy says you have two options: return the device and leave the program entirely, or return the device and upgrade to the latest newer model. In other words, if you choose to upgrade, Best Buy will pay the remaining balance, but you’ll have to commit to another three years of payments before you can upgrade again, keep the device, or leave the program.

More expensive devices, such as the $2,499 16-inch M1 MacBook Pro, will cost you about $51.17 per month with a final payment of $550, according to Best Buy’s Upgrade Plus page. The program also includes the M2 MacBook Air, 13-inch MacBook Pro, and 14-inch MacBook Pro.

Best Buy Upgrade+ program for Mac laptops. (Credit: Best Buy)

According to Best Buy, you can add any accessories or an AppleCare+ subscription to your monthly bill (but your payments will go up, of course). A two-year AppleCare Plus subscription is already included with the purchase of select Apple products if you are a Best Buy TotalTech member.

Upgrade Plus is similar to Apple‘s own iPhone program in that it ties you to 24 months of payments but allows you to trade in your device and upgrade after 12 months.

Apple is also rumored to be considering selling an iPhone subscription service, which is expected to launch late this year or early next year. Unlike Apple’s current upgrade program, it could have a flat monthly fee that isn’t based on the cost of the device, making it more akin to an iPhone lending service.