Reports indicate that Best Buy is launching its own hardware subscription program that allows users to lease and potentially upgrade their Mac laptop every three years. Known as Upgrade+, the program is backed by Citizens Pay.
With this news, it seems Best Buy is looking to beat Apple to its own game, as rumors continue to circulate that Apple is looking into its own hardware subscription service.
Best Buy Now Offers Mac Subscription Program Known as Upgrade+
According to a press release from Best Buy, the company is now introducing an “Upgrade+” program. This new program allows customers to spread out payments of a Mac laptop across 36 months, and then gives customers the option to upgrade during month 37. However, there will be a final payment in month 37 that users will have to worry about.
As an example, Best Buy uses a Mac with a starting price of $999.99. Should a customer lease the Mac for 36 months at $19.99 a month, there will still be a final due payment of $280.35. It is during this final month where a customer can choose to keep the device they originally purchased. Making the final payment gives ownership to the customer, but they can also choose to return the product or upgrade to a new device. According to Best Buy, the company will deal with the final payment if the customer chooses to relinquish the device or upgrade.
Making a Decision
According to Best Buy’s press release,
After 36 months, customers will then have the option to upgrade to a newer Mac laptop model by returning the qualifying product and remaining in the program, making the final payment to keep the device they’ve originally purchased, or they can simply return it and leave the program. If they choose to either upgrade to a newer Mac laptop model, or to return the original product, Best Buy will make the final payment on behalf of the customer.
It’s also worth noting that what a user pays during the 36 months can vary depending on the customer’s credit rating. Additionally, no discounts will be applied to the Upgrade+ price. Prices are based “on original, non-discounted price of product”.
Furthermore, those who enroll in Best Buy’s Upgrade+ program are also able to sign up to include AppleCare+ with their device, as well as finance additional Apple accessories. Those in the Best Buy Totaltech program are able to receive 24 months of AppleCare+ at no additional charge.
Looking at Apple’s Solution
For Apple, the company does have an iPhone Upgrade Program that allows users to switch to a new iPhone if they made 12 payments on their current phone. However, rumors are also circulating that Apple is looking into a different kind of hardware subscription service. First rumored by Bloomberg back in March 2022, many are still unsure how it differs from the current iPhone Upgrade Program, though many suspect it will go beyond iPhone hardware.
Originally, many were hoping for the new program from Apple to see an announcement this year, though this now seems unlikely. In one of his “Power On” newsletters, Bloomberg’s Mark Gurman has stated that Apple is “indeed still working on a hardware subscription service that will integrate with its Apple One bundles”.
Best Buy’s new Upgrade+ program seems to be following leasing trends. While many would prefer to own their device outright, there are many that find it easier stretching out the payment of a device. If you are the type that absolutely has to get the latest and greatest, this may be an easy alternative. Best Buy also argues that the new Upgrade+ program will be beneficial to the environment, as the program could reduce waste while also promoting recycling.
Users can read more about Best Buy’s Upgrade+ program here.
What do you think about Best Buy’s Upgrade+ program? Let us know in the comments.