Buy Now Pay Later Catalogs

buy now pay later catalogs get a quote

I remember when I was young, that there was great excitment at home when the latest shopping catalog landed on our doorstep!

What a treat to be able to flick through the pages to see what all was available and start making a list of the “I wants”. It was particularly welcome when the Christmas edition came in well before the big day, to give everyone a chance to have a good look through it and decide what the Christmas presents would be that year.

Buy Now Pay Later Catalogs Are Now Online

It is very easy now to just carry out a google search for any type of catalogue and you have it instantly online. A bit like the Studio catalogue here:

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However, there is an interesting article in the Mirror Newspaper that claims that if you buy through certain of these online catalog companies on the “buy now pay later” arrangement, you could actually be paying double the amount for the items you buy!

There is obviously the increased cost of spreading the payments over a number of months in interest charges, but double the price sounds very high to me.

Check The APR Every Time

Please be careful when using these catalogues and check what APR you are going to be charged.

They may quote you a very managable weekly or monthly repayment amount, but you can easily multiply the number of payments up by the monthly amount to see what you really will be paying at the end of the day.

There is no doubt that these buy now pay later schemes are very helpful when you have maybe a washing machine break down and need replaeement and you haven’t got the spare cash to do it or even at Christmas time when there is a lot of expense.

Anyway, have a read through the article to make you aware of the pitfalls and be careful out there!

See also Covid-19 affecting personal finance.