![]() You could order more than one size, and use buy now, pay later so you're not charged for everything at once. When used appropriately, buy now, pay later can be very convenient.įor example, if you’re buying a new item of clothing but aren’t sure which size will fit. ![]() Is buy now pay later a good idea for you? It’s a good idea to make a note of when repayments are coming out so you can make sure your money is in the right account. And don’t forget that buy now, pay later doesn’t make your purchase any cheaper, it just spreads the full cost over time and could end up being more expensive in total. Bear in mind that longer-term borrowing might incur interest or fees.īefore you make a purchase using buy now, pay later, make sure you understand the terms and conditions as well as how much it will cost. The main appeal of buy now, pay later products is there’s usually an initial interest-free period where all you’ll pay is the price of your goods or service (plus a potential service charge or fee). You’ll then pay back the money borrowed (plus any interest and charges) in one instalment at a later date, or through regular repayments.ĭepending on which provider you’ve borrowed from, and the product offered, you’ll have to make repayments over a period of weeks or months.The buy now, pay later provider instantly pays this amount to the retailer. You borrow part or all of the purchase amount from your chosen buy now, pay later provider.Make a purchase online or over the counter.Buy now, pay later financial products all work in a similar way.
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