Instalment plans and buy now, pay later services
An instalment plan or buy now, pay later service offered at checkout is consumer credit, even though it looks like just a payment method. Even small monthly instalments can add up to a significant extra cost and a payment default. This guide helps you compare and manage credit responsibly.
You will need
- The product's cash price
- The credit terms and standard information
- A monthly budget
- Online banking credentials
Steps
Compare the total price
Work out how much you will pay in total, including all instalments, set-up fees and invoicing fees. Compare that with the cash price.
Look at the effective annual interest rate
Read the standard information
Assess your ability to pay
Use your right of withdrawal
Keep track of instalments
Act if payments are late
Get help if needed
The full guide with every step is for members. Try 7 days for €0.99.
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