Redecorating your home is an exciting prospect. Everything from the painting to a different layout and new furniture can completely transform your home. Here’s the thing decorating can get a little expensive, especially if you plan to buy all new furniture.
But guess what? You can now get financing for furniture. Yep, that’s right. It comes in the form of Buy Now Pay Later, or BNPL. Buy Now Pay Later allows you to break down your payments into monthly instalments.
And the great thing is that more and more companies are choosing to offer BNPL as a payment method. Even the big players like Amazon, Macy’s, and Target are offering Buy Now Pay Later services. So if you want to redecorate stress-free and splash out on some luxury furniture, you can.
Here’s what you need to know about furniture financing.
What Is Furniture Financing?
When you decide to buy furniture you are making a big financial decision because let’s face it. Furniture is expensive. But if you want to redecorate and buy furniture whole you are on a budget, Buy Now Pay Later is your friend. It works the same as any other instalment payment plan you have. When it comes to furniture financing, it tends to be a little easier. You and your chosen lender can agree to pay off the furniture in small payments that you can afford.
What Are The Benefits Of Buy Now Pay Later?
You may be thinking that it all sounds great. What’s even better, though, is that BNPL has other benefits aside from affordability.
Enjoy Your Furniture Without The Financial Worry
Buy Now Pay Later will make your redecorating project stress-free. Well, the financial part, at least. Let’s say you found the perfect piece of furniture, and you get all excited until you look at the price tag and have a mini heart attack.
Your excitement is short-lived, not for long, though, because with BNPL, you don’t have to worry about paying the total amount upfront.
Interest-free And No Credit Checks
One of the main reasons why BNPL is so popular is that you get instant approval at the purchase point. There are no credit checks, so even if you have bad credit, don’t let it put you off, as there’s a high chance that you can still get approved.
Provided that you can keep up with your instalment payments BNPL is interest-free. It is always a good idea to read your agreement’s terms and conditions with the lending provider you choose.
Helps Your Credit Score
If you have a history of bad credit, Buy Now Pay Later can actually help improve it if you keep up with on-time payments. Keeping up with payments that you and your lender have agreed with reflects positively on your credit profile.
Another reason why BNPL is so popular is that it offers flexibility. This means that you can either pay back within a few months or across multiple years. Again, this depends on your lending provider, but most lenders offer a wide range of repayment plans anyway.
Safe And Secure
With Buy Now Pay Later, it helps you to make safe and secure payments. You don’t have to give or your payment information upfront or make any e-wallet money transfers. In most cases, you can use a one-time password or OTP that gets sent to you on your registered phone number.
The Future Of Buy Now Pay Later
Buy now pay later has been around for a very long time. However, it is only now becoming more and more popular. That’s largely due to consumer behaviour changes, tough economic times, and how consumers choose to spend their money. Internet shopping has skyrocketed, and so has the demand for more affordable shopping.
Consumers actively look for the BNPL option from safe and secure companies like ChargeAfter.com when making a purchasing decision.
The Bottom Line
Buy now pay later comes with many benefits. It allows you to enjoy redecorating your home and buying new furniture without having to worry about the financial side of things. It’s accessible, affordable, safe, and secure. So if you are planning to redecorate your home and thought that you couldn’t splash out on your favorite furniture with BNPL, you now know that it’s possible.