Buy Now Pay Later
2018 saw a sudden increase of Buy Now, Pay Later services in Australia. The idea that you could make equal payments over a period of time, like a lay-by, has never lost its appeal. However, the new twist is that you can take your goods with you right now, make the payments later and still pay no interest. What’s not to love?
On Line or In-Store
What was designed and rolled out originally for on-line businesses, has now found its way into the bricks and mortar sector. Regardless of your shopping habits, online or in-store, almost everyone is offering an interest-free service of some kind.
Many consumers, especially millennials, prefer these types of services instead of using a credit card. In their opinion, applying for a credit card takes too long, whereas making equal fortnightly payments makes it much easier for them to manage their cash. Research has found that when using these types of services, younger consumers will tend to spend more.
What Works for You?
Finder.com.au has done a lot of the hard work for you and has provided a detailed explanation of the different interest-free finance and credit card providers. No two are the same and they all have their advantages and disadvantages for each potential customer.
As we all know, everyone’s financial situation is unique and what works well for one person may be a nightmare for someone else.
Keeping this in mind, St Marys Tyre and Wheel Centre has two different interest-free options available for our customers. AfterPay and SKYE Mastercard both offer interest-free periods for your purchase, however, their payment options are distinctly different.
