If you don’t have the cash in hand to plunk down for your holiday gifts, consider layaway. While it’s not free, it will keep your credit card balances down, so you don’t end up paying for your purchases long after the holidays.
Many stores stopped offering layaway deals a few years back. But, in an effort to lure customers in for holiday shopping, many stores have brought the practice back. Here are a few of the deals you can expect to find, so you can choose your stores wisely:
If you prefer to avoid the crowds and do your shopping online, take a look at eLayaway.com. This site lets you set up online layaway plans with hundreds of stores.
Walmart
Walmart offers in-store layaway, but it ends December 16th. If you want to take advantage of it for your holiday shopping, you’d better hurry! You can read full details of the Walmart layaway plan at walmart.com.
Toys R Us/Babies R Us
TRU and BRU offer layaway in-store only. Not all products are eligible, so make sure you check to see if your purchase qualifies. Their layaway details are a bit lengthy and state-specific, so read them at toysrus.com if you’re thinking about setting up a contract.
Sears
Sears offers layaway both in-store and online (products available for online layaway are tagged).
How long is the layaway contract?
8 weeks
12 weeks (for purchases of $400 and up – in-store only)
Pay every 2 weeks after the initial down payment.
What fees will I pay?
$5 for 8 weeks
$10 for 12 weeks
Can I cancel my layaway?
Yes. You will receive a refund of what you’ve paid so far, minus the service fee and the cancellation fee ($15 for 8 weeks/$25 for 12 weeks).
What if I miss a payment?
No problem, if you make your payment within the seven-day grace period. After that, the layaway is cancelled and you’ll be responsible for the cancellation fees listed above.
Where can I make my payments?
You can pay at the store where you set up the layaway, or you can pay online.
You can read full details of the Sears layaway plan at sears.com.
kmart
Kmart offers layaway both in-store and online, too. Not all products are eligible, so make sure you check to see if your purchase qualifies.
How long is the layaway contract?
8 weeks
12 weeks (for purchases of $300 and up – in-store only, not available at all locations)
Pay every 2 weeks after the initial down payment.
What fees will I pay?
$5 for 8 weeks
$10 for 12 weeks
Can I cancel my layaway?
Yes. You will receive a refund of what you’ve paid so far, minus the service fee and the cancellation fee ($10 for 8 weeks/$20 for 12 weeks).
What if I miss a payment?
No problem, if you make your payment within the seven-day grace period. After that, the layaway is cancelled and you’ll be responsible for the cancellation fees listed above.
Where can I make my payments?
You can pay at the store where you set up the layaway, or you can pay online.
You can read full details of the kmart layaway plan at kmart.com.
Best Buy
Best Buy offers layaway in-store only – at participating stores. Your purchase most total $250 or more to qualify.
How long is the layaway contract?
8 weeks or 12 weeks
Pay every 2 weeks after the initial down payment.
What fees will I pay?
5% of the total purchase price
What if I miss a payment?
No problem, if you make your payment within the seven-day grace period. After that, the layaway is cancelled. Check with your store to find what fees you may have to pay.
Where can I make my payments?
You can pay at the store where you set up the layaway.
You can read full details of the Best Buy layaway plan at bestbuy.com.
Call the stores in your area – even the locally-owned ones – many are offering layaway for the holiday season. Even if they don’t offer it this year, maybe they will next year if enough people ask.
Off to the stores for some serious holiday shopping! I hope you find good deals on everything on your list!
3 Ways to Contact Us
- Call (800) 687-0522
- Chat Online Now!
- Get Started Online
WE WANT YOUR FEEDBACK