The Rent to Own Trap: How Apple's Lease Plan Could Ensnare Consumers in Debt Apple's recent announcement of its Apple Upgrade program has sent shockwaves through the tech industry.
Many hail it as a game changer for consumers who can't afford the hefty price tags of the latest gadgets, but some warn that this new lease plan may be another way for Apple to lock customers into long term contracts and rake in more revenue.
The idea behind Apple Upgrade is simple: instead of shelling out thousands of dollars upfront for a brand new iPhone or MacBook, consumers can opt to "lease" these devices on a monthly basis.