Updated: Jul 03, 2025

Smartphones can be expensive, but that doesn’t mean you have to pay the full cost right away. Find out how Buy Now, Pay Later options make it easier to upgrade your phone without breaking your budget.

What Does Buy Now, Pay Later Mean?

Buy Now, Pay Later (BNPL) lets you take home a product today and spread the cost over time. Instead of paying the full price at checkout, you agree to make smaller payments over weeks or months. It’s a financing option that doesn’t usually require a credit card or long-term contract.

This is becoming a popular way to buy smartphones, especially for people who can’t afford to pay hundreds of dollars upfront. You’ll often see these plans offered online or in stores by retailers, phone carriers, and BNPL providers like Affirm, Klarna, or PayLater through PayPal.

Where You Can Get BNPL Smartphone Deals

Many well-known retailers and wireless providers offer BNPL plans for smartphones. The exact terms vary depending on who you buy from, but the basic idea is the same—you choose a payment plan that works for your budget.

Walmart partners with Affirm to let you pay for electronics, including phones, over 3 to 24 months. You’ll see the monthly breakdown at checkout, and your credit isn’t always required for approval.

Best Buy offers BNPL options through Klarna and other partners. You can shop in-store or online and choose a pay-over-time plan with no interest if you qualify.

Amazon provides monthly payment options for eligible customers on select smartphones. Some are 0% interest, and others require signing in with your Amazon account and meeting their approval standards.

Target uses Affirm and Zip for buy-now-pay-later payments on electronics, including prepaid and unlocked phones.

Apple partners with Affirm and carriers for installment options when you buy through the Apple Store. You can also use the iPhone Upgrade Program, which spreads payments over 24 months and includes yearly upgrades and AppleCare+.

Carrier Installment Plans

If you want to buy a phone and get service from the same place, most major carriers also offer their own installment plans. These work similarly to BNPL but often require a credit check.

Verizon, AT&T, and T-Mobile all let you pay for phones over 24 or 36 months. You’ll usually need to sign up for a postpaid plan, and your phone payments are included in your monthly bill.

Some carriers run promotions offering $0 down or no-interest plans if you qualify. Others will give you trade-in credit for your old phone or a discount if you switch from another provider.

If your credit is low or you want more flexibility, prepaid carriers like Cricket Wireless, Boost Mobile, and Metro by T-Mobile sometimes work with third-party BNPL services like Affirm or SmartPay. You can get a new phone and pay in installments while using a no-contract plan.

How BNPL Differs from Traditional Phone Financing

BNPL is generally easier to access than traditional phone financing. You don’t always need good credit, and the application process is fast—usually just a few clicks at checkout.

Many BNPL providers offer short-term loans with no interest, especially if you choose to pay over four or six weeks. Others offer longer terms, like 6 to 24 months, sometimes with interest added. Your approval is usually based on your income, payment history, and bank account—not your credit score.

Unlike financing through your phone carrier, BNPL doesn’t tie you to a service plan. You can choose the phone you want and pair it with any prepaid or postpaid service that works for you.

However, with traditional carrier financing, you may get more perks like discounts, free phones with trade-ins, or upgrade programs. That makes it a better fit if you’re staying with the same provider for a while.

Things to Watch Out For

Even though BNPL makes it easier to buy a phone, there are some things to be careful about.

First, make sure you can afford the payments. Missing a BNPL payment may result in fees, suspended access, or even collection efforts. Some providers report to credit bureaus, which can hurt your score if you fall behind.

Second, read the fine print. Some BNPL plans charge interest after a few months or require upfront fees. Others may automatically withdraw money from your bank account—so make sure the money is there on the due date.

Also, some retailers have limited return policies for BNPL purchases. If you’re unhappy with the phone, you may still owe payments or need to wait for a refund from the BNPL company.

Tips to Make It Work for You

Before committing to a BNPL phone, set a budget. Know exactly how much you can afford to pay each month without affecting your rent, groceries, or other essentials.

Choose the shortest payment term you can afford. The faster you pay it off, the less likely you are to fall behind or get stuck in long-term debt.

Avoid adding extras like cases, earbuds, or insurance to your BNPL loan unless they’re truly necessary. It’s easy to drive up the cost when you’re not paying it all upfront.

Compare interest rates and fees across different BNPL services. Some charge more than others, especially for longer-term plans.

If you already have a BNPL account, check your standing before applying for a new one. Some services limit how many loans you can have at once.

Final Thoughts

Buy Now, Pay Later makes it possible to get a smartphone without dropping hundreds of dollars upfront. Whether you’re shopping through a retailer, phone carrier, or online store, these plans can help you stay connected while sticking to your budget. Just be sure to read the terms, make your payments on time, and choose the option that works best for your needs and lifestyle.