Why do lots of people detest "Buy Now, Pay Later" services?

[Trush Jodie]

I see lots of people talk down on schemes that have "Buy Now and Pay Later". What are the real bad sides of "Buy Now, Pay Later" schemes. Do you also believe that "Buy Now, Pay Later" services are not good?

What are the negative aspects of such services to the finances of a person?

 

[Miley]

Most services that do Buy Now and Pay Later always add an extra cost that is almost one third of the cost of you buy and pay instantly.

 

[Springtime]

I do not opt to use the "Buy Now Pay Later" scheme because I prefer paying in one go for the products I need. If I do not have enough money at the moment, I will save and when I have saved enough, I will buy the products I want.

 

[eLdavis]

The simple reason is because most people do not have the conscience to pay back and at the end of the day it affects the business.

 

[Trush Jodie]

I wouldn't want anything to bother my head about the free use of a product that I have not paid fully for the product.

 

[Cpvr]

They do it to save money as they don’t have to pay the full cost of the product right off the bat, but instead they make payments over time.

 

[Stardom22]

In my country, the economy is in a bad shape that is why most people like that kind of business motives. That is why most people really like that kind of products.

 

[Kera]

In my country, the economy is in a bad shape that is why most people like that kind of business motives. That is why most people really like that kind of products.

People would love the Buy Now, Pay Later in countries that people earn low income. But the challenge is if they can meet up with the repayment with interest for such programs.

 

[Augusta]

For me first I don't like to owe amd secondly, most services that do Buy Now and Pay Later always add an extra cost to their products

 

[itsmejob]

It is very enticing to go for this scheme. However, if we look at it, the interest rates are kinda high because it's credit and there is an option to pay up to 6 months. But if we can pay in cash, I suggest do it instead of taking the pay later option.