There’s now a new way to own an Apple product. Starting from today in the US, you’ll be able to lease an iPhone, iPad, Mac or Apple Watch directly from the company via its new Apple Upgrade program.

Enabled by Klarna, prices for leasing Apple products will start at $18 a month for an iPhone and $12 a month for an Apple Watch, with 12- and 24-month leasing options. If you’re in the market for an iPad or Mac, you’re likely to keep that device for longer, and Apple is offering 24- or 36-month leasing options for these devices.

You can explore the different options either online or through the Apple Store, or you can go to a physical Apple Store in person. If you have an existing device to trade in, you can also lower your monthly leasing costs.

The leasing program is likely to come as welcome news to anyone overwhelmed by the thought of buying an Apple device outright — especially right now. Just last month, Apple abruptly raised prices of all of its devices due to RAMageddon, the industry-wide memory shortage that’s pushing up prices not just of Apple products, but all consumer electronics. This came shortly after Apple CEO Tim Cook called price rises “unavoidable.”

The price rises are also expected to affect upcoming launches, including at Apple’s rumored September iPhone event. If Apple does unveil a new foldable iPhone, as expected, it’s likely to be more expensive than any existing models, just as Samsung’s foldables are more expensive than its other flagship phones.

A leasing program could well prove a popular strategy at a time when many households are struggling with the cost of living. It’s a major financial challenge for Apple to balance rising component costs at a time when people are only becoming more price sensitive, said Dipanjan Chatterjee, vice president and chief analyst at Forrester.

“Having already raised prices, Apple has limited room to push them higher without further extending upgrade cycles,” said Chatterjee. “The new leasing program is a clever response: It doesn’t reduce the price of an iPhone, but it changes how consumers perceive the cost by replacing sticker shock with a predictable monthly payment.”

Apple says that signing up for the program is easy, and can take only a matter of minutes. Klarna will perform a soft credit check on applicants that won’t impact their credit score.

At the end of the leasing term, customers will be given the option of returning their device, buying it outright for a small fee, or upgrading.