Changing the tires of your car can get expensive. At first, you might find that you need to change only one, but then suddenly, you are changing all four. The next thing you know, you have to dig deep into your pockets and fork out a small fortune to pay for the new tires.
But, did you know that you can get financing for tires?
Yes, really. Tire financing is real, and you can pay for a brand new set of wheels without the hefty price tag. It’s all about using Buy Now Pay Later.
Here’s what you need to know.
HOW DOES TIRE FINANCING WORK?
Whether you are looking to splash out on a new set of tires or you need to change them using a Buy Now Pay Later payment plan, it will help ease the blow to your wallet. Better yet, the process is very simple. You don’t have to go down the traditional route. Once you have searched and found the right tires, you add them to the cart, and at the check-out page, you select “Payment Plans.”
Of course, that’s if the tire company you have chosen offer Buy Now Pay Later (BNPL) services. Not to worry, though, because BNPL is getting more and more popular, so you won’t have a hard time finding companies that offer this payment method.
It helps you to break down your payments into instalments that are affordable to you. It can be over a few months or a couple of years. So, how does BNPL from companies like ChargeAfter.com benefit you? Well, here are five reasons why BNPL can make your life a little easier.
WHAT ARE THE BENEFITS OF FINANCING FOR TIRES?
EASES YOUR FINANCIAL BURDEN
Cars are high maintenance, and sometimes you need to fix things unexpectedly, like a punctured tire. It’s necessary, but you don’t have the financial means to do so. This is where BNPL comes in. It takes away the panic, worry and all the stress that comes with having to deal with a financial burden, especially if you can’t afford to pay a lump sum upfront.
NO CREDIT CHECKS & QUICK APPROVAL
One great thing about BNPL, and why it’s so popular, is that there are no credit checks. That’s right. It doesn’t work like the traditional payment plans where it assesses your affordability. So even if you have bad credit, there is a high chance you will get approved. Also, if you have bad credit, it will positively impact your credit report provided that you keep up with the payments. You don’t have to fill out lengthy forms, and you get approved almost instantly.
Seriously, is there anything better than reading those two words when you have to pay for something? Most BNPL plans are interest-free. However, that’s only the case if you keep up with your payments. Again, this depends on which payment provider you decide to go with, so do your research diligently.
Many lender providers give flexible options that work with your needs. You can choose a plan that works best for you and your financial needs. You can set up small installment plans to make sure that you never miss a payment and that you will always be able to afford it.
SAFE AND SECURE
If you are worried about the safety of BNPL, don’t be. It’s completely safe and secure. You don’t even have to give your payment information upfront, either. Most lending providers will ask you for a one-time password, OTP. You set it up, and it gets sent to the phone number that you registered with.
WHY BUY NOW PAY LATER?
Aside from affordability, BNPL is an intelligent choice if you want to avoid high interest rates. In fact, 40% of consumers go with BNPL to avoid hefty interest rates. Sure, some credit cards have 0% interest rates, but you also need to have an excellent credit history.
THE BOTTOM LINE
BNPL is for almost anyone. Whether you can afford to pay upfront or not, BNPL helps you spread out your finances to budget better. It’s straightforward, flexible, interest-free, safe, and a smart choice. Just remember to keep up with your payments. Now, you can shop around for some high-quality tires without having to worry about the price tag.