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‘Buy now, pay later’ can help fund your next trip but here’s what you need to know about these loans

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With summer in full swing, and many countries easing travel restrictions, you might be eager to plan a post-pandemic trip. Even if you managed to save some money ahead of time, travel expenses can quickly add up, and you might be tempted to choose the ‘buy now, pay later’ option that’s offered at checkout on many travel websites, including Carnival or Expedia.

These point-of-sale loans are seductive to consumers who don’t want to pay for their post-pandemic vacations with one lump-sum payment, allowing people to make payments over a fixed period of time, sometimes without high interest rates.

But is using the ‘buy now, pay later’ option to pay for your flights or hotel stays too good to be true?

Select explores some of the benefits and drawbacks of using ‘buy now, pay later’ for travel.

What are point-of-sale loans?

Read further.

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