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Why do couples have a new option when it comes to paying for their wedding?

“Buy now, pay later” is now available for tying the knot.

HOUSTON — We all know that weddings can be expensive. The average cost in 2021 was $28,000, according to the wedding registry and planning site The Knot.

Some couples unable to cover the expense have turned to credit cards or personal loans. There is a new option. “Buy now pay later” options are popping up for couples getting ready to tie the knot.

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According to the New York Times, companies like Maroo are allowing soon-to-be newlyweds the ability to pay in installments over a 12-month period. When you hire a vendor, they can submit their bill to the company, and it will cover the cost.

It does run something called a soft pull credit check that does not affect your credit score. Then it comes up with an interest-free installment plan.

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All that sounds great, but financial experts do have some words of warning. Weddings can get pretty pricey and if you are not paying for it upfront it could get tempting to go overboard. “Buy now pay later” may put off the pain for a little bit but you will have to pay up. Experts say this type of funding is best for people who are already financially stable.

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