How Americans Take Advantage of 'Buy Now, Pay Later' \ stacker news ~charts_and

pull down to refresh

How Americans Take Advantage of 'Buy Now, Pay Later'

173 sats \ 28 comments \ @0xbitcoiner 19 Nov charts_and_numbers

Over the past few years, Buy Now, Pay Later (BNPL) services have quickly gained popularity as an alternative to credit cards or other “traditional” payment methods. Offering a convenient and flexible payment option, BNPL services such as PayPal, Affirm, Afterpay or Klarna allow consumers to make purchases with delayed payment or to even spread the costs over installments without interest or with minimal fees. This approach is especially appealing to younger (and often cash-strapped) consumers seeking immediate gratification without the nuisance of having to pay right away.

[...]

🔗 statista.com

Paid without extra charge or interest35.7%

Paid whole amount at a later time7.1%

Paid with extra charge or interest0.0%

Could imagine using it in the future0.0%

I haven't and don't think I will57.1%

14 votes

view all related items

79 sats \ 3 replies \ @Satosora 19 Nov

It just all leads to debt. If you dont have the money, you shouldnt buy it.

20 sats \ 2 replies \ @0xbitcoiner OP 19 Nov

That has always been my policy. Maybe I'd consider credit to buy a house if I had to.

11 sats \ 0 replies \ @SimpleStacker 19 Nov

That would be called a mortgage and (for some reason) doesn't count as "buy now pay later "

86 sats \ 0 replies \ @Satosora 19 Nov

Some things are good debt. Consuming isnt.

10 sats \ 0 replies \ @fm 19 Nov

Different names for the same thing.. Credit.. If there is no added interest is because their margin is already good..

0 sats \ 0 replies \ @eroc1990 19 Nov

I'm guilty of this, but I purchase within my means. In most cases I just don't want to front the entire chunk of money up front, and will spread the damage over a longer period.

0 sats \ 0 replies \ @Satoshi__Nakamoto 19 Nov

1st one

0 sats \ 20 replies \ @OT 19 Nov

I see this everywhere too.

I just don't understand it. If you don't have the money to pay for it, wait until you do. It's so simple.

124 sats \ 19 replies \ @Fabs 19 Nov

What if you have the money, but decide to "spread-the-pain" over a 6-month period for $12 bucks more, instead of paying the full amount of, say, $850,00 at once?

An extra 10 - 15 bucks makes you stay way more liquid.

62 sats \ 17 replies \ @Fabs 19 Nov

I've bought my sewing machine this way, and I sleep well.

21 sats \ 16 replies \ @OT 19 Nov

Its not for me. I might be too old.

Over the long run, it costs you more. Couldn't you wait another week or month for the new sewing machine?

0 sats \ 1 reply \ @ek 19 Nov

Over the long run, it costs you more.

Does it really if in the long run, your debt is worth less?

0 sats \ 0 replies \ @OT 19 Nov

For a house or possibly a car yes. But thats only because the debt is paid off over many years.

If its less than a year, you're likely paying more.

0 sats \ 13 replies \ @Fabs 19 Nov

I could, but life isn't always manageable in terms of costs; Sometimes you'll have to bite off the tip, and it's nice to be able to do so, while still maintaining enough liquidity in the accounts for other unforseen expenses- yes, you pay a few bucks more, but that's absolutely worth it to me.

0 sats \ 12 replies \ @OT 19 Nov

I think for me it just means you don't have any savings.

But yeah, some people just want the thing and don't mind paying more to have it right now.

0 sats \ 10 replies \ @Fabs 19 Nov

Like talking to a brick wall...

0 sats \ 9 replies \ @Fabs 19 Nov

Say I have €5000,00 in my bank account, and want to buy some things, say, €2000,00 worth.

Now I can either pay direct and thereby almost half my liquidity, or I can pay in 3,- 6,- 12,- 24 month installments, pay 12% p.a and stay liquid.

Yes, I pay more in the long run, but have a bigger buffer in the meanwhile, while also buying what I want / need when I need it.

Get it?

view replies

0 sats \ 0 replies \ @ek 19 Nov

The fucked up thing about fiat is that you need savings to comfortably get cheap credit to save even more money

0 sats \ 0 replies \ @Undisciplined 19 Nov

There are perfectly valid uses for this practice. It's not like I paid for my house in full.