Here's How You Can Buy Gas Now But Pay Later

JACKSONVILLE, Florida. – It’s been almost a week since gas prices began to decline.

But the rate of falling prices is still far from the rate of rising prices.

As of Thursday, according to AAA, the national average gas price was $4.29 a gallon. The average gas price in Florida was slightly lower at $4.28 per gallon and $4.23 in Georgia.

While gas experts believe these prices could fall even further if oil prices remain stagnant, refueling still weighs heavily on everyone’s wallet.

“It affects everyone, those who have and those who don’t,” driver Richard James said.

According to Moody’s Analytics, every 10-cent increase in the gas price costs US consumers at least $11 billion in a year. And at current prices, that could cost each family an extra $2,000.

News4JAX has been following gas prices for weeks now and has learned about a new feature that allows you to buy gas now and pay later. We call it a gas cut.

While you can always put gas on a credit card, if you have a high interest rate and don’t think you can pay it off, then you probably don’t want to. So this is an alternative option, but only a few gas stations are involved in it.

The “buy now, pay later” payment method is nothing new. Companies like Affirm, Afterpay, and Klarna have been offering this option to most retailers for years. But in 2021, Klarna teamed up with Chevron, which also owns Texaco gas stations, to offer the feature.

Here’s how it works:

You use the app to buy a digital card from the store for $75.
Any unused amount will be returned to your account.
Add money to your Apple or Google wallet and tap to pay at the pump.
The money will be divided into four payments within six weeks without interest.
However, if you fail to make a payment, you will be charged a fee.

Again, the service is free, but you must return it or you will be charged a late payment fee of up to $7.

It just gives people a little more wiggle room than, say, a credit card every month.