Many companies and individuals struggle to maintain relevance following the worldwide pandemic, and they do not have the money to upgrade their technology. Since many businesses can’t afford to buy equipment and know that leasing is wasting money, they look for alternative ways to purchase technology enhancements they need but can’t afford. These days, they have another option.
Platforms like Credova that offer buyers the option to pay later are enabling convenience in the purchase of technology now. While buyers would have to make all their payments almost immediately, these platforms allow the payment to be spread over 18 months or even 12 to 36 months to reduce the financial burden on the buyers.
How relevant are these platforms becoming?
The most critical aspect of staying up-to-date and relevant is saving enough money before purchasing. While it would have been easy for the buyer to buy the technology using a credit card, the companies that offer credit cards have added hidden fees to their services, and interest rates continue to rise. Today, it is not practical to pay 20 – 25% interest on purchases through a revolving line of credit. It is becoming increasingly common to use platforms that have the buy-now-pay-later feature. Consumers don’t have to worry about saving up or paying for it with double-digit interest rates with the company’s credit card.
Individuals can now finance their next big technology upgrade using these buy-now-pay-later features. These platforms’ buy-now-pay-later option is ideal for financing high-end home computers or just the furniture that keeps the equipment protected. A consumer can receive a preapproval of up to $5,000 with a financing option provided by these convenient platforms. When approved, you will be able to buy immediately and pay later. What is more, these programs do not even affect the applicants’ credit scores since no hard inquiries are made on their credit files.
Platforms like Credova are ideal for buyers suffering losses or are not in a position to pay immediately. These platforms have become especially relevant during the pandemic and have been the saving grace for many individuals and companies.