How Does Buy Now Pay Later (BNPL) Benefit Consumers Who Are Looking To Purchase A Mattress?

Mar 26, 2021

Most of us don’t give it a second thought but your mattress plays a pivotal role in your sleep health. Sleeping on a bad mattress can leave you with chronic back pain or interrupted nights of rest, which can have a significant impact on your overall health. According to experts, a good quality mattress should last about 10 years but should be replaced every 7 to 10 years. This of course varies depending on how you take care of it, but still, it’s a hefty cost to budget for regardless. A good quality mattress can retail for anywhere between $700 to $5000 depending on the type you are looking for. Unfortunately most of us just simply don’t have the additional $700 lying around. However, this is where Buy Now, Pay Later Mattress financing comes in handy!

How BNPL Financing For Mattresses Work? 

It’s no secret that there are many payment and financing options on the market today. Each with its own set of pros and cons. There is the traditional method of making the purchase on a credit card, or the purchase can be made with online layaway programs.

Purchasing on a credit card is nothing new, but if you know a thing or two about how they work, it is not the most financially savvy option to choose when making larger purchases. Why? Well, simply put, the interest and fees you are charged every month will total to much more than what the mattress is worth. Depending on the interest rate and your bank’s current fees, you could land up spending $50 or more over and above the original price of the mattress. This also means that your credit card utilization increases, meaning that you have fewer funds available for when you actually need it like in the case of an emergency. 

Using online layaways doesn’t leave you in a better position either. In this case, you would be given a predetermined amount of time to pay the full amount of the mattress. However, you don’t get to take the mattress home with you. You would only be able to get the goods once the total amount is paid in full. This could take you months to pay off, especially if you are on a very tight monthly budget!

BNPL mattress financing options are instant financing options that can be requested online or in-store. Once you have found the mattress you want, add it to your cart and select the BNPL payment option. You will then be prompted to fill in a few details. Once submitted you will receive a notice whether you have qualified for the microloan or not. This all happens without ever leaving the website and in just a few minutes. You will also be given the payback terms immediately so there is no guesswork on how much you’d have to pay back monthly. The amount due is broken down into affordable payments over a few months, meaning that you don’t have to blow your entire budget for the month all at once. Purchasing high ticket items has never been simpler or more affordable!

More Options With BNPL Mattress Financing

One of the many benefits of Buy Now, Pay Later consumer financing is that there is more flexibility in terms of choosing the right payment terms for you. ChargeAfter’s Multi Lender network gives consumers more options to choose from depending on their current financial needs. Unlike credit cards, applying for BNPL mattress financing also enables you a higher chance of getting an approved loan because the qualifying criteria are more suited to the average earning consumer. This financing is not a one size fits all, instead, it caters to different financial situations, giving you, the consumer, more buying power and freedom to make decisions that work for your lifestyle and budget!

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About the author
Chris Lloyd
“ChargeAfter is amongst our top rung of partnerships, and they enable us to deliver consistent. The conversion uplifts ChargeAfter creates helps drive strong value for DXL Group and our customers.”