How does layaway work for merchants and consumers?

Online layaway simplifies layaway for both merchant and consumer by removing the costly, time-consuming storage and bookkeeping processes. Layaways remain at the distribution center during the layaway period instead of taking up valuable retail warehouse space.

Where do layaways go during the layaway period?

Layaways remain at the distribution center during the layaway period instead of taking up valuable retail warehouse space.

Are there any stores that have a layaway program?

Today, you can find stores with layaway across the country—and that’s great news for shoppers! In recent years, many stores offered layaway only around the holidays, but some are opening up the program year-round. This makes shopping easy during any season. A few things to know before opting to use layaway:

When did layaway plans become more common in the US?

Layaway plans became popular during the Great Depression in the 1930s and then peaked in use during the 1960s and 1970s. Around the 1990s, layaway plans became less and less common as credit cards became more available. But when shopping slowed during the Great Recession, layaway programs re-emerged.

Do any stores have layaway?

There are a few stores with year-round layaway, including Burlington, Kmart, and Sears. Stores that don’t have layaway may offer other types of financing, such as deferred-interest credit cards or lease-to-own programs.

Does Best Buy have layaway?

Some Best Buy stores have offed layaway. The layaway purchase must be at least $250 and they charge a layaway fee of 5%. You must put down 25% of the purchase price, and make payments every 2 weeks. You have 8 weeks to pay off a computer and 12 weeks to pay off most other items.

What stores have layaway plans?

Best Buy, Kmart and Walmart are some of the leading departmental store that offers Layaway plan all year around.

What stores offer layaway online?

Marshalls and TJ Maxx offer layaway in select stores. These are the most well know stores who offer layaway. Online layaway is another option and is available through a company called ELayaway. This is a Florida based company that handles layaway programs for up to 700 online retailers including Best Buy .