Buy now/pay lenders focus on niches hit hard by inflation

February 8, 2023

American Banker

Even given the economic and political scrutiny facing buy now/pay later lending, CarParts.com exec Ryan Lockwood contends the product can safely fund expenses that are outside of a consumer’s normal budget. 

“I think of a single mom who is trying to get her kids to school or a firefighter who obviously can’t do his job over Zoom,” said Ryan Lockwood, chief financial officer of CarParts.com. “These are people who need to have a reliable car but, given the economy, might not have that disposable money lying around for a sudden and unexpected repair.”

Read the full article in American Banker.

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