With Best Buy Upgrade Plus, you can pay for a new Apple Watch Ultra for three years

Just as Apple lets users “lease” iPhones through its iPhone Upgrade Program, customers can pay off their iPad Pro or Apple Watch Ultra over a longer period of time. However, Apple gives iPhone customers 24 months, while Upgrade Plus extends things for an extra year.

After the three-year period is up, customers have the option to remain in the program and upgrade to a newer model or return the device and exit Upgrade Plus. Alternatively, customers who want to own the device can make the final payment in the 37th month.

If you do the math, that means you’ll have to pay $17.32 every month for three years for the $799 Apple Watch Ultra or the base model of the 11-inch iPad Pro. To pay off the device, pay $175.78 for the last payment in the 37th month. However, if you choose to upgrade it, Best Buy will cover the final payment for you. Best Buy also pays the remaining balance of the purchase if you return the device and leave the program, which means you could potentially save $175.78.

There’s a catch, though: that number assumes you’re eligible for a zero percent APR offer. If you don’t, you may be paying a maximum interest rate of 29.99 percent, depending on your credit rating. Also, the program only covers the Wi-Fi version of the iPad Pro.

Meanwhile, you can get up to 24 months of AppleCare Plus for free if you’re a paying Best Buy Totaltech member and purchase the tablet or rugged smartwatch through Upgrade Plus. However, you must remain an active Totaltech member during that period. Non-Totaltech members don’t get AppleCare Plus for free, but they can fund the subscription along with other Apple accessories through Upgrade Plus.

Upgrade Plus launched last October in partnership with Apple and initially only funded Macs for the first few months. It continues to provide financing for the latest models of the MacBook Air, MacBook Pro, iMac, Mac Studio and the Mac Mini.