There is only a handful of paychecks until Christmas, and inevitably, many of us are feeling the pinch. Many of us are also trying to cut down on those New Year’s credit card bills, but we still may need that next paycheck to get our Christmas shopping done. Layaway has been a popular option for just that situation.
Some financial analysts don’t think layaway is the best option, but stringent budgets aren’t always in the cards, now are they? At any rate, if you are looking for places to shop that offer layaway plans, here are a few we found while scrounging the Internet. (You can also stop by your local retailers and see if they offer similar plans. Some do not advertise it as much as these stores.)
Below this list, we also added information on two other non-layaway options.
Stores Currently Advertising Layaway Plans:
Products may be placed on layaway for no longer than twelve (12) consecutive weeks (8 weeks on all computers), and require a 25% down payment, plus 5% layaway fee of the total product sales price at the time of layaway plan agreement. Participant will receive a copy of the payment schedule at the time of down payment. All products listed on the layaway order will be held as long as payments are made on time and according to schedule. If a payment is missed, Best Buy reserves the right to return the product(s) to store inventory. Other exclusions apply. See a Customer Specialist for complete details. Best Buy Layaway Program is available only at select Best Buy stores.
Sears/KMart (and more…)
Cancellation fees apply. Offer valid on new Sears Layaway purchases made 9/29/2012 through 10/29/2012 or 11/2/2012 though 12/3/2012. Requires down payment and biweekly payments. Free layaway promotion will waive $5 service fee on an 8 week contract and $10 service fee on a 12 week contract only on contracts initiated on 9/30/2012 through 10/29/2012. All fees nonrefundable. Not available at all Sears stores. 12 week layaway option available on purchases of $400 or more. Exclusions apply, see associate for details.
Visit Sears’ Layaway Info (With links to their other store’s policies)
For those T.J. Maxx stores that have layaway, we will hold layaway items for up to thirty days with a minimum payment of $10 or 10%, whichever is greater, and a $5 non-refundable create fee. (Minimum payment amounts and create fees may vary by state.) The entire layaway must be picked up or canceled within the 30 day period. A $5 cancellation fee will be applied (in most states) when a layaway is cancelled. Please note that jewelry, items that have been marked down, food items and furniture cannot be placed on layaway. In addition, other restrictions may apply. See stores for details.
For those Marshalls stores that have layaway, we will hold layaway items for up to thirty days with a minimum payment of $10 or 10%, whichever is greater, and a $5 non-refundable create fee. (Minimum payment amounts and create fees may vary by state.) The entire layaway must be picked up or canceled within the 30 day period. A $5 cancellation fee will be applied (in most states) when a layaway is cancelled. Please note that jewelry, items that have been marked down, food items and furniture cannot be placed on layaway. In addition, other restrictions may apply. See stores for details.
Toys R’ Us/Babies R’ Us
Layaway available at most stores. Excludes apparel, beverages, batteries, candy, diapers, Doorbusters, film, food, formula, holiday-related items (Valentine’s Day, Easter, Halloween, Chanukah, Christmas), and all health and beauty items except the following: boosters, potties, thermometers, medical accessories, vaporizers and humidifiers.
The Walmart Layaway plan lets you set aside the items you want at their current price and then pay for them over time in installments that work for your budget. All you need to do is open a layaway account for $5 and make a down payment of either $10 or 10% of the item price, whichever is greater. (Learn more about the Walmart Layaway plan above.) Then you just pay as you go and before you know it, voila!, your new purchase is yours to take home.
Alternative, Non-layaway Payment Options:
Layaway plans may not be the best option for everyone, and you certainly do not want to add unnecessarily to your debt ratio with high interest rates. Take a look at the following two online/call in shopping channels:
QVC – [Profile] QVC is the world’s leading video and ecommerce retailer, offering a curated collection of desirable brands to millions of customers around the globe each day through broadcast, Internet, and mobile sales outlets. QVC is the world’s top multimedia shopping company…
I have personally used QVC since I was a kid. 9/10 times, I will check their site prior to committing to any electronics purchase, and I have used them for many other types of purchases as well, as they sell virtually everything you can think of from clothing to toys, make-up to outdoor living items. Many items have a 3-5 payment option and they feature daily specials. Highly recommended.
HSN – [Profile] HSN was founded 35 years ago as the first shopping network and is headquartered in St. Petersburg, FL. HSN is a leading interactive multichannel retailer offering a curated assortment of exclusive products and top brand names to its customers. HSN incorporates entertainment, inspiration, personalities and industry experts to provide an entirely unique shopping experience…
While we (personally) do not use HSN nearly as much as QVC, they offer many similar products in their own fashion. They offer competitive products and many people prefer their services over QVC. They also offer flexible payment and shipping options.
What stores do you use for flexible payments or layaway? Feel free to share information not listed here in the comments!
Note: Layaway and store information retrieved from About.com and individual store website information. Validity of this information is not guaranteed nor endorsed officially by Dads Round Table.