If you are looking to purchase some products for a long time, but postponing because of the expensive prices, then you should consider the buy now, pay later schemes. This is the most trending option that allows consumers to purchase the products without any payment. It is an attractive option for people who are concerned about the budget. The fintech companies like Credova offer these services to consumers. So, one could enjoy shopping their favorite product from the ecommerce stores or any other retailers without spending any amount.
What is Buy Now, Pay Later?
It is a new scheme introduced by the fintech companies that allows the buyers to get the product without paying any money. They get an interest-free period to repay the amount within a few installments. Credova pays the amount on behalf of the user and they will be given a certain period to repay the money. So, this is the best option for people without credit cards.
The fintech firm allows the buyers to get a wide range of products using these schemes. One can purchase gadgets, travel booking, purchasing guns, and many others. They are partnering with many retailers to provide the best services. The most attractive option about this scheme is that one can enjoy the payments interest-free.
However, one needs to complete the repayments within the given time. If you fail to pay back the amount, then you would be charged with interest. If you complete the repayments on time, then you could use this option for several purchases without thinking of expensive prices.
How it is better than using credit cards?
One of the popular methods among people to purchase items is using credit cards. Many people do have a credit score and choose to purchase several items using it. But the credit cards come with high-interest rates. Also, you will be able to get credit cards if you qualify for them. This is not the case with this scheme. Anyone could easily avail of this option as there is no credit check.
Hence, using this scheme is the best option for the buyers. One can invest in any of their favorite products without worrying about the budget. They can complete the payment using the financing options and they can repay the amount later. So, if you consider making any big payment then you can make use of this scheme.