Thegrio Politics
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Retailers Ditch Layaway Plans for ‘Buy Now, Pay Later’
Posted
November 2, 2021
Views
477
Likes
17
Comments
1
Engagement
3.77%
November 2, 2021
477
17
1
3.77%
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7:41Now PlayingPersonal finance expert Tarra Jackson joins “BNC Live” to discuss retailers eliminating layaway plans and partnering with lenders to buy now and pay later. “[With] layaway you have to pay it over a certain time and once you pay it in full then you get the item,” Jackson says. “Now, you can get the item immediately and pay over time. It looks like a loan, but it’s not really operating as a loan because there’s no interest.”
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