Given the fierce competition in the marketplace, you will find various offers and deals from different companies all aimed at converting visitors or potential customers into actual buyers. One of the most popular terminologies that you would come across either online or on the high street when looking to buy products or services especially expensive products would be buy now pay later.
What this means is that, you are allowed to purchase products on credit which you can repay over a period of time instead of paying as a lump sum right at the time of your order. It all depends upon the store that you choose to do your shopping with as different stores work differently.
While some stores may allow you an interest-free period, others would apply interest right away on whatever you might have borrowed from them which means whatever amount that you end up paying for the product that you might have purchased on credit, it would include interest charges which would make the total cost of the product more than what you would have managed to buy it for if you were to pay cash.
Buy now pay later options are in use across different niches however it is important that you only go for these when it is absolutely necessary for you and when there is no alternative available for you otherwise it would be better to simply pay cash.