A new Apple service is coming this week that could change how you buy an iPhone By Diane Templado, Apple is preparing to launch a new way for customers to finance its hardware, with the company’s upcoming Apple Upgrade program reportedly set to go live on Tuesday, July 28. The new instalment plan replaces the long-running iPhone Upgrade Program, and the old program will no longer accept new sign-ups once the service launches. According to Bloomberg’s Mark Gurman, existing iPhone Upgrade Program members won’t be affected and can continue using their current plans. However, anyone signing up after Tuesday will instead be enrolled through Apple Upgrade. Unlike its predecessor, the new scheme isn’t limited to just the best iPhones. Apple Upgrade will also cover iPads, Macs and Apple Watches. This gives customers a single financing option across much of Apple’s hardware lineup. The structure has changed, too. Depending on the product, customers will be able to spread payments over 24 or 36 months. They will still have the option to upgrade to a newer model before the end of the agreement. This is instead of waiting for the full term to expire. According to the report, more affordable products such as the Apple Watch SE and MacBook Neo won’t be included in the program. It’s also expected to be limited to consumer purchases. Business and education customers will be unable to take advantage of the new financing option. That’s hardly a surprise. The existing iPhone Upgrade Program bundled AppleCare into the monthly payment. However, Apple Upgrade reportedly separates the two, meaning customers who want extended warranty coverage and accidental damage protection will need to purchase AppleCare independently. While the iPhone Upgrade Program was backed by Citizens Bank, the new Apple Upgrade service will instead be financed through karma