Stores That Do Layaway and How Their Programs Work
Learn how layaway programs work, what to expect from their policies, and where to find stores that offer this purchasing method.
Layaway allows consumers to purchase items through incremental payments over time. This method secures desired goods without requiring the full purchase amount upfront. Historically, layaway has served as a practical budgeting tool, enabling planned acquisitions, especially for higher-value items or during holiday seasons.
How Layaway Functions
The layaway process begins when a customer selects an item. The customer and store establish a layaway agreement, outlining the payment plan terms. This agreement requires an initial down payment, commonly 10% to 20% of the item’s total price.
After the down payment, the store removes the item from the sales floor and holds it. The customer then makes regular, scheduled payments over a specified period, such as weekly, bi-weekly, or monthly installments. Payments continue until the full balance is paid. The customer can then pick up their item.
Commonly Eligible Items for Layaway
Layaway programs are generally offered for non-perishable goods that carry a higher price point. This often includes consumer electronics, such as televisions, home theater systems, and gaming consoles. Jewelry, including rings, necklaces, and watches, is also a frequent category for layaway purchases due to its significant value.
Furniture pieces, ranging from sofas to dining sets, are commonly available through layaway plans, as are major appliances like refrigerators and washing machines. During specific times of the year, seasonal items such as holiday toys, winter coats, or outdoor equipment may also be eligible. While less common, some higher-value clothing items might occasionally be included in layaway programs.
Finding Retailers That Offer Layaway
While layaway may be less prevalent than in previous decades, several types of retailers continue to provide this payment option. Many discount department stores, independent jewelry shops, and furniture outlets often feature layaway programs. The availability of these programs can vary significantly by location and specific store policies.
To determine if a particular store offers layaway, a direct inquiry is often the most effective method; customers can call or visit local establishments to ask. Checking a retailer’s official website is another practical step, as information on layaway plans is typically found in sections like frequently asked questions, customer service, or payment options. Online search engines can also assist in locating stores, with effective search terms including “layaway near me” or “[store name] layaway.”
Large retail chains that historically offered layaway often adjust their programs based on market conditions, so verifying current offerings is important. Smaller, independent businesses may also provide flexible payment arrangements tailored to their customer base. A proactive approach in checking with specific retailers or exploring their online resources can help identify current layaway opportunities.
Common Layaway Policies
Most layaway programs include a small, non-refundable service fee, typically ranging from $5 to $15, which is charged when the plan is initiated. This fee covers the administrative costs associated with holding the item and managing the payment schedule. If a customer decides to cancel their layaway plan, this service fee is generally forfeited and not refunded.
Cancellation policies often involve additional fees, usually a percentage of the item’s price or a flat rate, which can range from $10 to $25. Any payments made beyond the service and cancellation fees are typically refunded to the customer. Layaway plans usually have a defined payment schedule, with durations commonly set for 30, 60, or 90 days, requiring consistent payments to keep the item secured.
Many retailers impose a minimum purchase requirement for items to be eligible for layaway, ensuring the program is used for higher-value goods. This minimum might be, for example, $50 or $100. Additionally, the return or exchange policy for items purchased through layaway can differ from standard purchases; some stores may classify layaway items as final sale once picked up, or only offer store credit for returns.