What Stores Offer Layaway for Christmas?

Layaway programs can serve as a valuable budgeting tool, enabling individuals to secure desired gifts without incurring immediate debt. This payment method allows shoppers to set aside items and pay for them in installments, helping to spread out the cost of purchases over time. It provides a structured way to budget for Christmas gifts, ensuring items are secured while payments are made gradually.

Understanding Layaway

Layaway is a purchasing method where consumers make a deposit on an item, and the store holds the merchandise while the customer pays the remaining balance in installments. Unlike “buy now, pay later” services, the customer does not take possession of the item until it is fully paid for. The process typically begins with an initial down payment, which can range from 10% to 20% of the item’s total price.

Following the initial deposit, customers adhere to a predetermined payment schedule, often making regular installments such as weekly or bi-weekly payments. The payment period can vary, commonly ranging from 30 days to 12 weeks, depending on the retailer’s policy. Retailers often charge a non-refundable service fee for using layaway, which typically falls between $5 and $10. This fee covers the administrative costs associated with holding the item and processing multiple payments.

If payments are not completed within the agreed-upon timeframe, cancellation fees may apply. These fees can range from $10 to $20, and the initial service fee is usually not refunded. In some cases, a restocking fee may also be charged if the item needs to be returned to the sales floor. Unlike credit cards or loans, layaway programs typically do not involve interest charges and generally do not impact a consumer’s credit score.

Retailers Offering Layaway for Christmas

While many retailers have shifted towards “buy now, pay later” (BNPL) options, traditional layaway remains available at some stores, particularly around the holiday season. It is advisable to confirm current offerings directly with each retailer. Some major chains continue to provide traditional layaway services.

Sears offers layaway both in-store and online for various items, including appliances, tools, and jewelry. Their plans include 8-week and 12-week options, typically requiring a deposit and a service fee. Kmart also provides layaway services, with similar 8-week and 12-week plans available for a wide range of products, such as apparel, toys, and appliances. Both Sears and Kmart generally require bi-weekly payments until the balance is paid.

Burlington Stores, known for apparel and home goods, offers layaway year-round at participating locations. Their policy usually involves a minimum deposit of $10 or 20% of the purchase price, whichever is greater, along with a non-refundable $5 service fee. Items are typically held for 30 days, and specific exclusions may apply. Buckle, a fashion retailer, also offers in-store layaway with a minimum 20% down payment and a 60-day payment period, often without service or cancellation fees.

Big Lots primarily offers alternative payment solutions like Progressive Leasing or a “Price Hold” program for specific categories such as furniture and mattresses, rather than traditional layaway. The Price Hold program allows customers to reserve items with a down payment and pay them off over a set period, usually 30 to 90 days. Hallmark Gold Crown stores may offer layaway from July to December, with policies varying by location. Other regional and local furniture or jewelry stores also frequently offer layaway programs.

Major retailers like Walmart and Target have discontinued traditional layaway programs in favor of “buy now, pay later” options, such as Affirm. While these alternatives offer immediate possession of items, they may involve interest or credit checks, which differ from traditional layaway. Shoppers should inquire about the specific terms and conditions for any payment plan they consider.

Key Considerations for Christmas Layaway

When utilizing layaway for Christmas shopping, understanding specific timelines and policies is important. Retailers typically set deadlines for initiating and completing layaway contracts to ensure items are available for holiday pickup. The last day to start a new Christmas layaway contract often falls in late November or early December, with final pickup dates usually in mid-December. Adhering to these deadlines is necessary to avoid cancellation.

Certain items may be excluded from layaway programs, especially during the busy holiday season. Retailers might place restrictions on high-demand electronics, gift cards, or other specific merchandise. It is advisable to confirm item eligibility with the store before placing an item on layaway.

Should the price of a layaway item decrease after the contract is initiated, the store’s policy on price adjustments will determine if the customer can benefit from the lower price. Some retailers may offer an adjustment, while others might not mark down merchandise already on layaway. Additionally, understanding the return and exchange policies for layaway items during the holiday season is important, as they may differ from standard purchase policies.

Cancellation terms for Christmas layaway contracts are relevant. If a customer is unable to complete payments, the agreement may be canceled, and a cancellation fee will likely be deducted from the payments made. The remaining balance paid may be refunded, often as store credit, but not always in cash.