Upgrade financing Terms and Conditions
By participating in Klarna’s Upgrade financing program (the “Program”), you agree to these terms and conditions (the “Program Terms”).
“We”, “us” and “our” refers to Klarna, Inc., and “you” and “your” refers to you when you participate in the Program. “Fulfillment Provider” refers to the party appointed by Klarna and approved by Apple that will power Klarna’s Apple Digital Storefront and handle the Fulfillment of your order(s) placed through Klarna’s Apple Digital Storefront.
WebBank, Klarna’s partner bank is offering financing services (“Upgrade financing”) to eligible Klarna customers who: (i) have iPads, Macs or Apple Watches or other eligible Apple products (“Apple Product(s)”) financed by Klarna’s partner bank that are at the end of their loan period and (ii) wish to trade-in their eligible Apple Product (“Current Apple Product”) and purchase a new Apple Product (“Upgraded Apple Product”) with a new loan from Klarna’s partner bank. In addition, if you opt to trade in your Current Apple Product with the Fulfillment Provider, the Fulfillment Provider and its Trade-in Provider will evaluate your Current Apple Product and you may receive a credit to be applied to your Final Installment (as defined below) in the amount of 100%, 50% or 0% – depending on the condition of your Current Apple Product and at the Trade-in Provider’s sole discretion based on the
provided by the Fulfillment Provider. The final payment due on your loan (the “Final Installment” or "Balloon Payment") will be equal to the amount due at the end of the loan term including any fees and charges less the amount of any trade-in credit, if any. The Final Installment will not be subject to a finance charge (as defined below). If you opt to keep your Current Apple Product and not upgrade, you can pay your Final Installment as a one-time payment or, refinance your Final Installment into equal or lesser monthly payments than what you paid for your Current Apple Product, subject to credit approval. Although as discussed above no finance charge is applied to the amount of the Final Installment under the existing loan, you understand that any refinancing of that amount through a new loan will be subject to a finance charge, as will be disclosed to you at the time of refinance. . Both the Shop Apple on Klarna storefront and the trade-in services are offered and administered by the Fulfillment Provider.THESE PROGRAM TERMS INCORPORATE THE MANDATORY ARBITRATION OF DISPUTES (THE “
PROVISION”) SECTION OF THE FOR THE KLARNA MOBILE APP, TO WHICH YOU ARE ALREADY A PARTY. IF YOU DID NOT OPT OUT OF THE ARBITRATION PROVISION, IT ALSO APPLIES IN THE PROGRAM TERMS AND IS INCORPORATED HEREIN BY REFERENCE. PLEASE READ THE ARBITRATION PROVISION CAREFULLY AS IT WILL HAVE A SUBSTANTIAL EFFECT ON YOUR RIGHTS, INCLUDING YOUR RIGHT TO A JURY TRIAL AND TO BRING OR PARTICIPATE IN A CLASS ACTION. BY PARTICIPATING IN THE PROGRAM TERMS, YOU AGREE TO THE TERMS OF THE ARBITRATION PROVISION UNLESS YOU PREVIOUSLY OPTED OUT. This Arbitration Provision shall not apply to transactions subject to the Military Lending Act involving covered borrowers, as defined in the Act.Upgrade financing requires a new loan, including a new credit check, and will be subject to loan terms and conditions and
. You may not be eligible for Upgrade financing based upon factors such as your credit worthiness or any underwriting reason .Upgrade financing is subject to state restrictions. Upgrade financing, such as credit products issued by WebBank, will require you to agree to additional terms and conditions. To the extent there is a conflict between the Program Terms and any loan agreements, the loan agreements shall control.
Klarna reserves the right to amend the Program Terms at any time and/or to discontinue the Upgrade financing program after the financing term without notice. In the event of cancellation of the Upgrade financing program, your loan obligation remains.
Credit Toward Your Current Loan
If, at the end of your loan period, you choose to trade in your Current Apple Product with the Fulfillment Provider and/or Trade-in Provider, you may receive a credit to be applied to the Final Installment of your current loan – the amount will be 100%, 50% or 0% of the Final Installment of your loan – the actual amount will depend on the condition of your Current Apple Product, which is subject to inspection by Fulfillment Provider and/or Trade-in Provider and at their sole discretion. You are responsible for and must pay the remaining Final Installment balance that is not covered by the Current Apple Product that you trade in.
The Fulfillment Provider makes tools available to you to assess the potential credit you will receive, however any estimates are not binding. The credit amount is not determined or applied to your Final Installment until the Current Apple Product is received and inspected. Please be aware that, once a Current Apple Product is submitted for trade-in, it cannot be returned to you, including if you are dissatisfied with the determination by the service provider of the amount of the credit that will be applied to the loan. Therefore, please carefully review the criteria for each of the three trade-in credit tiers before choosing to submit your device.
What happens if I change my mind and don’t want to participate in the Program?
You may exit the Program. If you have already received your Upgraded Apple Product from the Fulfillment Provider, you may return it within 14 days of purchase so long as the item is in new condition with the box unopened. If you do not return your Upgraded Apple Product within the 14-day return policy in new, unopened condition, you will remain responsible for the new loan associated with the Upgraded Apple Product. However, if you have already traded in your Current Apple Product, you will not be able to have your Current Apple Product returned to you.
Disclaimer of Warranties and Limitation of Liability
KLARNA DOES NOT ADMINISTER THE APPLE STOREFRONT OR THE TRADE IN SERVICES ADMINISTERED BY THE FULFILLMENT PROVIDER AND KLARNA ACCEPTS NO LIABILITY THEREFORE. SOME FEATURES OF THE PROGRAM MAY INCLUDE SERVICES PROVIDED BY A THIRD PARTY. WE DO NOT PROVIDE ANY WARRANTY, OR ASSUME ANY RESPONSIBILITY REGARDING THE QUALITY, ACCURACY, SOURCE, MERCHANTABILITY, FITNESS FOR PURPOSE OR ANY OTHER ASPECT OF ANY THIRD PARTY SERVICES RELEVANT TO THE PROGRAM, INCLUDING THE FULFILLMENT PROVIDER SERVICES.
WITHOUT LIMITING THE DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY TERMS IN THE
, TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL KLARNA OR ITS AFFILIATES, OR DIRECTORS, OFFICERS, OR EMPLOYEES, BE LIABLE FOR ANY SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES OR LOST PROFITS ARISING OUT OF OR IN CONNECTION WITH THIS PROGRAM, WHETHER IN CONTRACT, TORT (WHETHER IN NEGLIGENCE OR STRICT LIABILITY) OR OTHER LEGAL OR EQUITABLE THEORY. OUR TOTAL LIABILITY, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCES IS LIMITED TO AND WILL NOT EXCEED THE ACTUAL AMOUNT OF DIRECT DAMAGES. THIS LIMITATION OF LIABILITY WILL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW AND WILL SURVIVE CANCELLATION OR TERMINATION OF YOUR PARTICIPATION IN THE PROGRAM. These limitations and exclusions apply even if your remedies do not fully compensate you for any losses or if Klarna or its affiliates knew, or should have known, about the possibility of damages.IF YOU TRADE IN YOUR CURRENT APPLE PRODUCT AND WISH ANY CREDIT TO BE APPLIED TO YOUR CURRENT LOAN, YOU UNDERSTAND AND AGREE THAT THERE IS A RISK THAT YOUR CURRENT APPLE PRODUCT WILL RECEIVE $0 VALUE, AND YOU AGREE TO ACCEPT THAT RISK.
Additional legal disclosures
You represent and warrant that you meet requirements necessary to participate in the Program.
You represent and warrant that you have full legal capacity to enter into a contract and are at least eighteen (18) years of age.
We may terminate your participation in the Program at any time in our sole discretion, including without limitation if certain quantity limits are reached.
We may revise the Program Terms by posting revised terms at any time (as allowed by applicable law), and we may suspend or terminate the Program at any time without notice to you.