Aaron WhybrowGeneral Manager, Strategic Mortgage Broker

Christmas buy now pay latter

Name: Christmas buy now pay latter
Uploaded: 2018-12-07T00:24:51Z
Channel: Aaron Whybrow
Description: Short YouTube monologue by Aaron Whybrow (recorded Dec 2018) advising caution when using buy now, pay later services during the Christmas/silly season…

7 Dec 2018

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Short YouTube monologue by Aaron Whybrow (recorded Dec 2018) advising caution when using buy now, pay later services during the Christmas/silly season. He acknowledges these services (Afterpay, Zippy Pay) can be useful for urgent purchases (e.g., car tyres, replacing a vacuum) but warns to ensure you can afford repayments, avoid steep penalties, and note that such facilities must be declared when applying for a home loan.

Do you feel the urge at Christmas to splurge a little bit? Buy stuff that you may need to put on credit or a buy now pay later facility like Afterpay Zippy pay. These facilities can be good, especially in areas where you might need to get full car tires on your car done and you've got Christmas as well. You might have a vacuum cleaner that dies and that you need to get that versus getting the Christmas lunch. So Buy now pay laters can come into it, but you've got to be careful. You've got to be able to afford the repayments. Make sure you pay it back in time because they have steep penalties with it. Also, Afterpay Zippy pay, they come into facilities that we need to declare when you go for a home loan as well. So the silly season's here. Be careful with what you spend and we'll talk soon.