- Point-of-sale (POS) loans have become increasingly popular, with offers from companies like Afterpay, Affirm, and QuadPay popping up on many retailers’ sites.
- POS loans offer the opportunity to buy a product now and pay for it in installments, like layaway but in reverse.
- These short-term loans may be beneficial for consumers buying large items, like furniture or appliances, who have the money in their monthly budget to make payments. But they can also encourage poor spending habits.
- personal finance coverage.