Millions turn to ‘buy now, pay later’ — but is it really saving you money?

CHICAGO - At first glance, a "buy now - pay later" finance plan may seem like a good idea to consumers . How good is it?

Fox 32’s Dawn Hasbrouck takes a look the pluses and minuses in this moneysaver special report .

The Growing Popularity of BNPL

What we know:

Nearly 87 million U.S. consumers used a "buy now - pay later" financing plan last year. That’s up about 7% from 2023, according to a recent report from Capital One Shopping.

"Buy now - pay later" plans allow consumers to break down the cost of a purchase into four smaller, interest-free payments that are often made over a few weeks or months. It works like an installment loan.

We asked some Fox 32 Chicago viewers online if they've used one and to buy what.

The Pros: Easy Acces and No Interest

"They're not all bad, bu