Can I Buy Now Pay Later Designer Bags?

Can I Buy Now Pay Later Designer Bags

Can I Buy Now Pay Later Designer Bags?

Hello friends! Today I want to chat about Can I Buy Now Pay Later Designer Bags? This is a topic which means a lot to me because I truly believe designer fashion IS an investment, but I don’t want you to buy something you can’t afford, nor do I want  you to get your credit rating in a pickle. Seriously, this stuff is important!! Anyway! Let’s have a good long chat about Can I Buy Now Pay Later Designer Bags?

Why would you buy a designer bag ‘buy now pay later’?

I truly believe that you are better buying one AMAZING designer bag you LOVE and use all day every day rather than a bunch of cheap high street bags and mid-range handbags. Because not only will you love your dream designer bag more, but in the long run it could end up costing you less than a wardrobe full of ‘for now’ bags you aren’t obsessed with. Plus, not only that, but one designer bag is less wasteful on the environment than a wardrobe full of high street bags. Finally if you do ever get bored of your designer bag, it will probably be 5-10 years down the line and you will be able to sell it well on the pre-loved market and put the money towards your next bag. Winning all round!

Can I Buy Now Pay Later Designer Bags

Can you buy designer bags in boutiques on buy now pay later?

Generally not, no. However there is another option and it’s a smart way to spend! Apply for a 0% balance transfer credit card. Have it set up and ready to go before you buy your bag (just in case you get rejected – which is possible) and then go buy your bag and transfer the price of the bag onto the 0% balance transfer card. Now here’s the VERY important part. You usually have 1 year to pay the balance off and then the APR racks up. You need to divide the cost of the designer bag by 12 (12 months in a year obvs) and then set up a standing order to pay off that portion of the bag every single month for the next 12 months. No excuses. Not even at christmas, not even at wedding season. By the time the year is done the designer bag will be yours with 12 manageable payments. However you HAVE to make sure it’s a 0% balance transfer card as you don’t want to be paying interest and you need to know how long you get 0% for an ask if there is any further t&c’s you need to know about. Look at your bill every month, just to keep a check of everything. For example, you often only get 1 balance transfer sum and if you spend an additional amount on the card that will be a different APR rate. It’s boring, but important.

You also need to be strict with yourself and NEVER spend on the card and you need to make sure you set up a standing order to pay off that months portion of the card every month. You need to do all these things and you need to be strict with yourself. Once the year is over, close the credit card account and enjoy your bag for years to come. Just as an example, if you were to buy yourself a Chanel WOC bag this way, it would currently cost you £1,900 which would be a monthly interest free repayment of £158.33. If you can REALISTICALLY afford this every month, EVEN OVER THE CHRISTMAS PERIOD, then it’s a great way to buy your bag! Basically, if you want that Louis bag, you gotta create your own Louis Vuitton payment plan!

chanel best bag

What about a Preloved bag on Vestiaire Collective?

Just a quick heads up, Vestiarie Collective have partnered with the credit agency Affirm so you can split your handbag into staggered payments. It’s a good option, as you are saving cash on your bag by buying it pre-loved and then you can stagger the payments. However, the catch is there is an APR of between 10 and 30%, so be aware of that. Also, paying the bag off over 3 months in 3 instalments will cost you less than paying it off over the year. Do you sums, but it’s not a bad option, especially since you are saving cash by buying it preloved. But again, stick to those payments. It’s important! Alternatively, you can still buy a preloved designer bag and do the 0% balance transfer card method, whatever works for you!

The Real Real ALSO use Affirm, so make sure you check them out too. Also, with therealreal.com you can get 20% off everything with the discount code ‘REAL’. So not only are you spreading the payments so they are more manageable, but you are buying a designer bag pre-loved so it’s cheaper AND you save 20% on top of that! Boom!

Can You Buy Now Pay Later Gucci bags?

Yes! You can buy now pay later Gucci bags via Gucci!! They have partnered with Affirm, much like Vestiarie Collective. So please read the full post about the terms, conditions and what you need to look out for with the repayments.

Does Gucci go on sale?

Yes, Gucci have end of season sales and they also have a few outlet stores at retail destinations like Bicester Village. They also have a small selection of stock on The OUTNET which is well worth checking out.

Can you pay monthly for Louis Vuitton?

No. You cannot make monthly payments on Louis Vuitton via the Louis Vuitton website. However, you can buy it and transfer the balance onto a 0% balance transfer credit card or buy a pre-loved LV via Vestiarie Collective and pay with Affirm.

Get 20% off at therealreal.com with the code ‘REAL’

Finally…

Finally, just a reminder here, if you can’t afford it, don’t buy it. BUT if you are good at being strict with yourself and your money, and you can trust yourself to make those monthly repayments and you can afford them, then it can be a great way to buy one dream bag rather than filling your wardrobe with substitutes which never satisfy you. Obviously if you can afford to save up to buy your bag upfront, that’s ideal, but otherwise it is a good option to explore other ways of buying your investment pieces. Please do think about the APR rates and understand what they mean in REAL terms and please do consider if you can afford the repayments every month; including the more expensive times of the year like christmas, summer holidays, wedding season etc. Finally, remember missing payments can affect your credit rating, which is pretty major, especially if you want to become a home owner in the next few years.

Go Shopping!

I really hope this post is of help! I also wrote about buying Chanel bags on buy now pay later which you can read here. This post contains affiliate links to buy bags.

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2 Comments

  1. lauralouiseforresthotmailcouk
    September 22, 2021 / 9:56 am

    I never pay later! Always buy if you can afford here and now I say! x

    • fashionforlunch
      Author
      September 22, 2021 / 9:58 am

      same! but i do believe it’s better to pay in instalments, IF you can control yourself to make the Direct debit payments and you can get 0% interest rates!

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