Why you should stay far away from "Buy Now, Pay Later" services?

[Good-Guy]

There are many people who shop online. They tend to purchase products and they may also be required to pay for those products online. In the recent times, many "Buy Now, Pay Later services have gained a lot of recognition.

These services are targeted towards customers who may not have enough money to purchase products and this is why such kind of services may be created for such people. However, there are many things that people must note about such kind of services. Just because a service has been created to supposedly "facilitate" people, it does not mean that it is beneficial for people. What many people do not realise is the fact that these services also come at cost and they are not as good as they may sound. When you try to avail the "Buy Now, Pay Later" services, you have to pay heavy interest money.

This is one of the biggest disadvantages of such kind of services. People should always avoid interest under all circumstances. Interest is a very bad thing. It destroys the economy and it makes poor poorer and the rich much richer. Obviously not all the people could afford to do so and this may damage their credit history as a result of that.

 

[Mika]

I think it depends on what you are buying and how you are going to use the product. If the product you are buying will help you to save money or make you extra income, using buy now and pay later services can help you. Let's say you need a computer so that you can work on something and generate an income, in that case buying a computer now and gradually paying back will certainly help you. But if you buy a car, you might incur debt.

 

[Augusta]

Buy Now ,pay later sure comes with both gains and pains. This is one way you would be able to get what you want especially when you don't have money at a time. it does help anyone without money to achieve a money demanding thing at a time.So you can buy the product, own or use it before you can make payment in the future. But it comes with the bad side of you becoming a debtor and you might be mandated to pay the money with interest

 

[elecrown]

Always buy when you afford the price, never buy if you can't afford it! Don't spend more than you can get, this is a simple rules of spending life. Or you will be in debt soon