Whether you're taking a long-awaited vacation or need to book travel urgently for an emergency, you may not currently have all of the funds necessary to book a trip. Enter a service like Fly Now Pay Later that lets you "buy now, pay later" for flights, hotels and other travel expenses.

But you may be wondering how Fly Now Pay Later works or if it's legit. Let's dive into the details and discuss the advantages and disadvantages of using the deferred-payment service.

What is Fly Now Pay Later?

Not to be confused with a general term for deferring travel costs, Fly Now Pay Later is a company offering services that allow you to spread the cost of your vacation over time. After you are approved, Fly Now Pay Later will pay for the travel upfront and charge you monthly installments. You can choose to split up the cost of your trip over a time period of up to 12 months.

At the time of writing, the interest rate on these installments is between a 9.99% and 29.99% annual percentage rate, depending on your credit.

You can use Fly Now Pay Later to pay for all types of travel expenses. You can buy now and pay later for:

Attractions.

Cruises.

Flights.

Hotels.

Vacation packages.

Who can use Fly Now Pay Later?

U.S. residents hoping to use Fly Now Pay Later must be 18 or older. If you reside in Alabama and Nebraska, you must be at least 19 years old. You'll also need a debit card and a mobile phone with a U.S. number, as the Fly Now Pay Later service is currently only available through its app. You'll also need a driver's license or passport to verify your identity.