Apple has launched "Apple Upgrade", a leasing scheme that lets customers spread the cost of devices such as the iPad Pro over 12, 24 or 36 months with no interest, then trade up for a newer model once the term ends. It looks appealing at a time of rising gadget prices, but because it is a lease rather than a purchase, users never actually own the hardware and must return it in good condition or face fees, making the small print worth close attention before signing up.

A 24-month lease on a 256GB iPad Pro costs $32 a month, totalling $768, after which buyers can pay off the remainder or swap for a new device. Apple warns of "substantial" charges for ending a lease early or failing to settle it at term's end, when customers are automatically moved onto monthly payments, which may rise, for up to six months; AppleCare, unlike with the iPhone Upgrade Programme, is not bundled in to waive damage fees. Payments are managed by the buy-now-pay-later firm Klarna rather than Apple directly, prompting concern that the scheme could be riskier for younger or lower-credit customers most exposed to extra fees and defaults.