Apple partnered with a bank in 2021 to let small businesses rent new Mac M1s for as little as $30 per month, with easy upgrade options if more powerful devices are released. Now that’s no longer offered, and companies that had signed up will now have to sign up for a different program from CIT Group, the bank Apple partnered with, or take another route to get their computers.
A business that approached the edge shared an email from CIT Group (also known as First Citizens Bank) confirming that the Mac update program has ended. Now, the bank is asking the company to either switch to its FMV lease or continue leasing the equipment at the same monthly rate, although it would run indefinitely with no buyout option. the edge contacted both CIT and Apple to confirm the status of the program, but neither responded at the time of publication.
The current offering includes “flexible” lease options, 12/24/36-month terms, a $4,000 minimum order, financing up to 25 percent of accessory value, and buy-out options. The now-defunct program offered low monthly payments starting with the $30 MacBook Air 13-inch, $39 MacBook Pro 13-inch, $60 MacBook Pro 14-inch and $75 MacBook Pro 16-inch. Immediate upgrades were available if a new MacBook Air or Pro with newer chips was released anytime after the first 90 days of the lease.
Although Apple and CIT Group no longer offer the Mac Upgrade Program, Apple continues to support small businesses on the services side with its Business Essentials IT management suite. Businesses (and K-12/High Ed) can also order hardware directly from Apple’s Business or Education special store site and create purchase orders, but typically for full price.
Apple is also expected to launch its Buy Now, Pay service later this year. Whether it launches or not, people, and maybe people who own a small business, can always use an Apple Card and pay 0 percent financing on new Apple computers.
