PurseBlog Asks: Have You Ever Financed a Bag?

We’ve all been there. Where, you might ask? Scrolling through our favorite resale website when up pops that rare bag. You know, the limited edition one you’ve always wanted, or the one that got away from you all those years ago. And even though you know you were “just looking,” how can you possibly pass it up?

Or what about that rare deal you find. That diamond in the rough? You tell yourself that opportunities like this don’t come around often, as the tiny little pay with affirm logo teases a low monthly payment.

To Finance or Not to Finance

Recently I started exploring Chanel Bags on the resale market, as I want to get an idea of what price points are for certain styles and what I’m actually looking for. Do I want to buy something that’s super vintage (think 90s or early 2000s Chanel), or do I want a gently-used bag from the last few years? I came across a multicolor patchwork Chanel Flap Bag on The RealReal, in nearly perfect condition. I was seriously tempted by the option to use affirm or afterpay, but then I thought better of it.

Four years ago, we covered the relatively new phenomenon of having the option to finance your luxury purchase. At the time, affirm had been popping up across fashion e-tailers for only a little over a year when its competitor afterpay came up, allowing customers to split purchases into 4 monthly payments with a 0% interest fee, always. Now, there are more options than ever, with companies like PayPal and Klarna offering buy now, pay later options.

When we first broached the topic, we wanted to know if you would ever consider using one of these up-and-coming options. Four years later, they’ve tempted me, and I want to know if any of you have actually used a pay-later option. Did you regret it?

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