Times may be hard. Money may be tight.
We want to help people purchase the things they need and want now and be able to pay for it later with deferred billing options. Therefore, we've compiled a directory of stores that offer financing either by breaking payments into installments, offering a store credit order or processing through a payment lender, such as Affirm or Klarna.
This concept is known as buy now, pay later.
Shoppers who choose a financing option at checkout will receive their order right away but pay for it by making payments. This is similar to layaway except that you get your order right away.
Buying now and paying later can be a useful option for those that don't have a credit card or those that don't want to put a large balance on their credit card. One must remember though that buying now and paying later is still a form of debt. So don't buy more than you think you can afford to pay off.
5 reasons to buy now, pay later
- If financing offers 0% interest, you can invest your money to earn interest.
- Financing may actually help your credit score increase as long as you make all your payments on time.
- You need to make a big purchase (i.e. $500 in value or more) either expected (vacation) or unexpected (car repairs).
- You want a high-demand product before it sells out.
- You need to spread out the cost of an item.
All stores that offer financing options will spell out the payment arrangements so you'll know exactly how much you'll be paying for each payment and how frequently you'll need to make payments. Be sure to pay the agreed amount on time or you may be facing late fees. Some buy now pay later stores may require a credit check, but many won't.
Live within your means.
If you don't think you're disciplined enough to make payments, we recommend that you save up some money to pay for your purchases.