Best Buy launches the ‘Mac Upgrade Program’ we’ve been waiting for; here’s how it works

While Apple and its carrier partners offer a number of ways to get a new iPhone every year with monthly payments, options for the Mac are far more limited. Best Buy, however, is looking to change that with the launch of its new Upgrade+ program. This gives MacBook users the option to get a new MacBook every three years with interest-free monthly financing…

This program works similarly to things like the iPhone Upgrade Program offered by Apple. In fact, Best Buy is even using the same financing partner as Apple’s iPhone Upgrade Program, which is Citizens Bank.

Here’s how the Upgrade+ program works for people who buy a new MacBook through Best Buy with this option:

• Apply for financing for your new MacBook purchase.
• Make 36 equal monthly payments on that MacBook, interest-free based on your credit.
• In month 37, you’ll have one final payment due based on the original purchase price.
• You’ll have three options in month 37.
  • Upgrade to a new Mac by returning the original MacBook to Best Buy.
  • Make the final monthly payment and keep the original MacBook.
  • Return the original MacBook to Best Buy and leave the program.

Let’s look at the entry-level MacBook Air, which retails for $999:

• Original price: $999.99
• Monthly payments: $19.99/month for 36 months
• Final payment due in month 37: $280.35

Or the M2 MacBook Air:

• Original price: $1,199.99
• Monthly payments: $26/month for 36 months
• Final payment due in month 37: $264

The 14-inch MacBook Pro:

• Original price: $1,999
• Monthly payments: $43.34/month for 36 months
• Final payment due in month 37: $440

The 16-inch MacBook Pro:

• Original price: $2,499
• Monthly payments: $54.17/month for 36 months
• Final payment due in month 37: $550

If you choose to upgrade to a new Mac or return the original MacBook and leave the program, Best Buy makes the final payment to Citizens Bank on your behalf. You’re only responsible for that final payment if you want to keep the original MacBook. Also note: The program is only available for MacBooks, not desktop Macs of any kind.

This new option from Best Buy is pretty interesting, due in large part to the lack of a similar program offered by Apple. On Apple’s side, the best option is Apple Card monthly installment financing. This offers interest-free financing on all Mac purchases (not just MacBooks) over 12 months, but with no option to upgrade at the end of that financing period.

What do you think of Best Buy’s new Upgrade+ program? Is it something you’d consider when it comes time to buy your next MacBook? Let us know down in the comments.

FTC: We use income earning auto affiliate links. More.