{"id":4001,"date":"2025-04-17T13:04:02","date_gmt":"2025-04-17T13:04:02","guid":{"rendered":"https:\/\/nationalgunowner.org\/index.php\/2025\/04\/17\/buy-now-pay-later-is-taking-over-coachella-and-doordash\/"},"modified":"2025-04-17T13:04:11","modified_gmt":"2025-04-17T13:04:11","slug":"buy-now-pay-later-is-taking-over-coachella-and-doordash","status":"publish","type":"post","link":"https:\/\/nationalgunowner.org\/index.php\/2025\/04\/17\/buy-now-pay-later-is-taking-over-coachella-and-doordash\/","title":{"rendered":"\u201cBuy Now, Pay Later\u201d Is Taking Over Coachella (and DoorDash)"},"content":{"rendered":"
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General admission passes for the 2025 Coachella Valley Music and Arts Festival start at $599. Arturo Holmes\/Getty Images for Coachella<\/span><\/figcaption><\/figure>\n

The Coachella Valley Music and Arts Festival, known for its big-name headliners, bohemian attire and celebrity sightings, has long been one of the most sought-after musical events in the U.S. But attending the Indio, Calif.-based event also comes with a hefty price tag\u2014one that starts at $599 for a three-day pass. This year, more than half of Coachella\u2019s 160,000 to 200,000 attendees alleviated some of that sticker shock by opting for a payment plan option<\/a>, according to Billboard.<\/p>\n

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Payment plans are nothing new for Coachella, or other festivals like Lollapalooza and Rolling Loud. Coachella began offering the option in 2009, with around 18 percent of attendees selecting it <\/a>back then. In the subsequent years, however, \u201cbuy now, pay later\u201d (BNPL) plans have become increasingly ubiquitous. Nowadays, about 60 percent of Coachella attendees choose such payment options.<\/p>\n

Coachella did not respond to requests for comment.<\/p>\n

The festival\u2019s payment plan isn\u2019t quite the same as those offered by well-known BNPL providers like Klarna<\/a> and Affirm (AFRM)<\/a>, which sometimes charge interest to those who fail to make payments on time. The festival\u2019s system, which requires an additional $41 flat fee to use, cancels orders if scheduled payments are missed and issues credits that can be used for next year\u2019s edition, reported Billboard.<\/p>\n

But experts say this type of plan still isn\u2019t risk-free. \u201cThe issue is that more flexibility also gives more opportunities to overspend,\u201d Wesley Yin<\/a>, a professor economics at the University of California, Los Angeles, told Observer. \u201cIt really requires a lot of personal awareness of finances and spending, and that\u2019s now always easy for the typical consumer,\u201d he added.<\/p>\n

BNPL plans are dangerously popular<\/h3>\n

Unlike traditional credit card companies, BNPL providers don\u2019t always require credit checks and are therefore more accessible for consumers who might already be in financially vulnerable situations. Those who opt for BNPL plans display disproportionately low credit scores<\/a>, according to a 2023 survey from the Federal Reserve Bank of New York that described BNPL users as more \u201cfinancially fragile\u201d overall.<\/p>\n

That hasn\u2019t stopped the BNPL industry from ballooning in recent years. Nearly $34 billion worth of loans<\/a> originated from the industry in 2022, according to the Consumer Financial Protection Bureau\u2014a rise from $24 billion in 2021<\/a> and an even sharper jump from around $2 billion in 2019.<\/p>\n

Creeping across various sectors of the consumer industry, these plans can now be applied to purchases as seemingly mundane as ordering a burrito. Klarna, for example, last month partnered with food delivery service Doordash (DASH)<\/a> and is also used by companies like Walmart (WMT)<\/a> and Instacart (CART)<\/a>.<\/p>\n

\u201cIt\u2019s never been easier for consumers to go into debt for discretionary consumer purchases,\u201d Sean Pyles<\/a>, the host of NerdWallet\u2019s Smart Money <\/em>podcast, told Observer.<\/p>\n

When it comes to utilizing payment systems for purchases surrounding an event like a music festival, Pyles worries that these plans will lead to a \u201cstacking\u201d of loans. Between accommodation, food and even festival outfits, the total cost of attending Coachella adds up to far more than the price of a ticket. \u201cIt can be difficult to track multiple loans at once, especially if you have them with different providers,\u201d said Pyles, who is also a certified financial planner.<\/p>\n

While BNPL plans aren\u2019t an inherently bad financial choice, relying on them for short-term purchases that add up are when risks start to emerge, said Pyles, who pointed to a \u201cbroader trend\u201d of consumers relying on new financial products to \u201cjust enjoy the moment, go out and have fun\u2014and maybe not be thinking long-term about what this might mean for their finances down the road.\u201d<\/p>\n

\t\t\t\t\"\u201cBuy<\/p><\/div>\n