‘Buy Now, Pay Later’: A New Wave of Consumer Debt

As people in the United States struggle with rising costs, they are increasingly turning to “buy now, pay later” loans for essentials such as rent and groceries. Stacey Cowley, a business reporter for The New York Times, explains the draw and the hidden risks of the loan model. Guest: Stacy Cowley, a business reporter at The New York Times, with a focus on consumer finance. Background reading:  • “Buy now, pay later” (https://www.nytimes.com/2026/08/17/bu...) lenders have pitched loans for needs like electricity and rent. • They got to live a life of luxury. Then came the fine print (https://www.nytimes.com/2025/10/07/ma...) . Photo: Amir Hamja for The New York Times For more information on today’s episode, visit nytimes.com/thedaily (http://nytimes.com/thedaily?smid=pc-t...) . Transcripts of each episode will be made available by the next workday. Subscribe today at nytimes.com/podcasts (http://nytimes.com/podcasts) or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-acce.... For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.