Retailers have recently taken their old layaway programs out of storage and into their stores once again. With the holiday shopping season fast approaching, stores like Sears, Kmart, Toys R Us, T.J. Maxx, Marshalls, and Burlington Coat Factory have layaway programs to help you gradually pay for your gifts this year.
Layaway is a great way to stretch your dollar – and it’s interest free. Before walking up to the layaway counter and signing your name on the dotted line, there are questions you want to ask to ensure your understanding of the policies and fees. The Better Business Bureau has these helpful questions you should be asking before you sign:
- How much time do I have to pay off the item?
- When are the payments due?
- How much do I have to put down?
- Are there any storage or service plan fees?
- What happens if I miss a payment? Are there penalties? Does the item return to inventory?
- Can I get a refund or store credit if I no longer want the item after making a few payments?
- What happens if the item goes on sale after I’ve put it on layaway?
- Does the retailer or third-party layaway service have a good Better Business Bureau rating?
What’s even better than layaway in stores is online layaway. Sears and Kmart not only have layaway in their stores, but also on their websites. Having the ability to shop layaway merchandise and make payments online makes the layaway process easier for consumers than ever before. Planning a vacation and paying it off gradually no longer needs to be done through a travel agent, Layaway-Travel.com lets you pay your vacation off the year prior to your departure date. Below are links to the websites where you can find information about the retailers specific layaway program: