Purchasing Apple products is considered a status symbol, yet it is also true that most people buy them using EMIs. If you are planning to acquire a new iPhone via financing (or leasing), be aware that the company is taking a strict stance. According to a report, code discovered in an upcoming iOS beta version grants finance companies direct control over your device.

If you miss an installment payment for your leased iPhone, your shiny device will instantly switch to a 'restricted mode.' This news comes just as Apple prepares to launch its new 'Apple Upgrade' leasing program in the US.

How will this 'Restricted Mode' work?
This new system is known as the 'App Managed Features' framework. The lockdown activates the moment the finance company's app detects a missed payment. Consequently, almost all apps on your iPhone will cease to function.
You will retain access to only a select few apps, such as Phone, Wallet, App Store, Settings, Passwords, Clock, Health, Magnifier, and Accessibility Reader.

If you examine this list closely, the underlying logic is clear. The company has retained only those features that enable you to settle your bill: the Wallet allows you to update your card details, the Phone lets you call the finance company, and the Passwords feature helps you resolve login issues.

While certain essential apps—such as those for messaging and smart home controls—might remain active, the decision ultimately rests with the finance company.
Even during this lockdown, charges for your 'App Store subscriptions' will continue to be deducted, regardless of whether or not you can use those apps. 'Partner Finance Lock' to Prevent Theft or Resale

Apple has introduced a 'Partner Finance Lock' within the 'Find My' feature to prevent defaulters from selling their phones on the market. This means the device cannot be erased or dismantled for parts. The lock remains active even after the phone is restored. However, with privacy in mind, the lending company will not have the authority to track your location.

Disclaimer: This content has been sourced and edited from Amar Ujala. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.