Klarna Offering Gasoline Instalment Payment Plan
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Klarna, a shopping service that allows consumers to split their payment for goods and services into separate instalments, has partnered with Texaco and Chevron to allow motorists to buy their gasoline or diesel fuel now and pay later.
Klarna’s gasoline payment partnership with Chevron and Texaco has been in place since last year and was not set up in response to the current geopolitical situation, a spokesperson told The Washington Post. However the payment service has generated headlines for its gasoline payment plans in recent weeks as gas prices hit record levels in the U.S. following Russia’s invasion of Ukraine.
The company told WaPo that its gasoline payment plans, like its other consumer goods financial services, are interest-free unless the payments are made late. Customers will not be able to access its buy now, pay later products if they miss a payment, preventing the user from accumulating large amounts of debt under their Klarna account. Klarna also told WaPo that it does not report account information or repayment histories to any of the nationwide credit bureaus, so consumers tapping into its services won’t take a hit on their credit score.
Ted Rossman, a financial industry analyst for firms like Bankrate.com, told WaPo the Klarna service is “not ideal,” but he understands why some consumers may have to rely on buy now pay later services to make ends meet. High gas prices mean some Americans living paycheque-to-paycheque may not be able to afford gas to get to work or drive their kids to school, necessitating such buy now pay later schemes. Rossman said he likes that Klarna’s payment plans are in short-term, two-week intervals with a 30-day deadline, but acknowledged the low barrier of entry may hook some consumers that otherwise shouldn’t be using such services.
Consumers concerned about rising gas prices can view our list of the 2022 model GM vehicles that have the best and worst fuel economy ratings. Not surprisingly, the subcompact Chevy Spark, which will be discontinued following the conclusion of the 2022 model year, leads the way with a combined fuel consumption rating of 33 mpg.
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Financially savvy people have been doing this forever. They stick their credit card in the pump get a 1-2 month interest-free loan.
Financially savvy people DON’T use credit cards and deal with paying off cards or dealing with it LATER.
Why play games with points or a payment when you can pay cash or debit and be 1 and done?
As long as you can pay on time it helps those who may be struggling.
Unless it is Costco I stop where they give a good cash discount.
Let’s see, if I’m buying gas at least once a week times 4.3 weeks a month and they’re going to let me finance my purchases, how is that going to help pay my monthly gas bill? Is my payments going to be spread out over a 20 year period? I believe there is some important info that is missing in this story.
The financial industry analyst quoted in the article said, “it’s not ideal” but understands why some may have to rely on it. I suspect it’s an accommodation for those who live paycheck to paycheck and do not have good credit or credit cards. Counting my blessings.
Wow, what a novel idea! I have a better one how about they lower their f**kin gas prices, instead of gouging the nation?
I have a better idea, open up the oil industry the way it was BEFORE JANUARY 20, 2021, when gas was affordable.
Why stop there Bob, I liked the gas prices in the 90’s.
I’ll agree but I’d be satisfied at $1.43/gal
Are you the same Bob That’s talking sh*t to Bill or a different one?
every time anyone of them open they’re mouths more stupid comes out
TomG how about you blow me. Really, that’s the best comment you can come with and who’s stupid?
Surely TomG would not want to barge in on your sisters family activities.
Females can be very possessive of their kinfolk lol
Bill….Remember way back when your pappy sat you down & told you…..Son..if you are stupid today, you’ll be stupid tomorrow? He was RIGHT!!
Play stupid games, win stupid prizes. Congratulations!!
Speaking from experience, huh Bob! Where are you going with this? You truly are a master of stupid statements. Are you and Tom related?
How about taking some personal responsibility and figure out how to use a bit less? I am old enough to remember car pools in the ’70s and ’80s.
You know what Jan, I thought car pools were a great idea!
You are better off charging by debit or credit card and budget your fuel biweekly and by the time your credit card statement cycle is ready, you already have the money to pay the whole fuel price which Klarna behaves similar as a budget service which is not necessarily needed by everyone.
Have you tried asking Tom and Bob, between the two of them they might come up with answer?
I thought this was an April Fool’s joke at first
its amazing some of the low intelligence that is displayed when there nothing productive to say There is no need to answer !!!
Hi TomG, sorry for the late entry I was doing other things. But have you every considered taking your own advice that would probably be the most intelligent thing that you would have done, thus upgrading your low intelligence level! Say hi to brother Bob.
But 10% goes to the big guy.
Buy now and pay later = Broke now and broke later! Check out Youtuber Minority Mindset and educate yourself.