Layaway

dereksbicycles

dereksbicycles

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I realize that many places such as Walmart and Target offer layaway plans. Even car dealers offer layaway plans. I understand that layaway plan is like paying over time with 0% interest rate.

My question is whether you've ever used layaway before. You don't have to share where you used layaway plan if you don't want to. I'm more interested in whether you used it or not and would you do it again? What was your experience like? Worthwhile or not?
 
over here in New Zealand, we have the similar sort of payment option its called Lay-by. interesting
 
I've used layaway numerous times. The rules for it have changed in the places where I did, so I probably won't do it anymore.

It was easy and convenient when the kids were little as I could buy the Christmas gifts and pay over time and have them held until the latest possible date, then get them, go to a neighbor's, wrap them and then hide at home. Usually by then the package from the in-laws with their gifts has arrived and I hide them all in the closet or something. Now, the kids are older and we don't do as much.
 
i never done it, only thing i ever did was a hire purchase of a 14inch colour tv...everythign else since was cash im only pay cash, im a Mafia LOL
 
only reason i did it once is to get credit ratings and it lasted...
because everything else is paid...
 
you never know when you actually need one... so its like 'insurance'
for hard times
 
dereksbicycles said:
I realize that many places such as Walmart and Target offer layaway plans. Even car dealers offer layaway plans. I understand that layaway plan is like paying over time with 0% interest rate.

My question is whether you've ever used layaway before. You don't have to share where you used layaway plan if you don't want to. I'm more interested in whether you used it or not and would you do it again? What was your experience like? Worthwhile or not?
Click to expand...


Years and years and years ago, when I used to shop for clothes at stores like Syms which has since gone out of business. They sold really nice close at unheard of prices so in that case, yes, it was worth it. But I didn't have the luck of my older sister of finding deals. Now I consider the credit card as a form of lay away.

Laura
 
Yeah...when the boys were little, I did....and one of my sons layed-away some speakers and microphone at a Pawn Shop 2 weeks ago until he gets his pay check to get them out....If it's "Free" Layaway...at times it's a good idea (especially at Pawn Shops) as merchandise goes fast there....
 
rockin'robin said:
Yeah...when the boys were little, I did....and one of my sons layed-away some speakers and microphone at a Pawn Shop 2 weeks ago until he gets his pay check to get them out....If it's "Free" Layaway...at times it's a good idea (especially at Pawn Shops) as merchandise goes fast there....
Click to expand...

I don't know but get the impression that some parents use it before Christmas as much for the storage as for spreading out spending the money.

Not sure now if I said this clearly. I was thinking of those that could afford to pay for it now but put it in layaway because then it would be stored at the store rather than having to find a place to put it at home to hide until Christmas.
 
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Jane B. said:
I don't know but get the impression that some parents use it before Christmas as much for the storage as for spreading out spending the money.
Click to expand...

Well, of course...some stores have 30-60-90 day free layaway....and if you find something on sale then might be a good idea to lay it away if you can't pay for it in cash....then some places don't allow sale items to be layed away.....All depends upon the store and it's policies.
 
When my daughter was born in 93, married in 95 to her mom, we used lay away for christmas since we were buying for 3 kids. Was great to take all year to pay as little as $15 a month.

Now, Kmart has a minimum payment limit which is a certain percentage (30% down) and a (% of balance due per month) and yo only have a certain numbers of day to pay it off, which isnt a good option for most people and if not paid by a certain agreed on date (contract) you lose it all... so its a sucky deal now.

Im not worried about it as I dont do layaways anymore.
 
Years ago we used to do it for kids school clothes and it was very convenient to get the clothes they wanted before they were all gone and paid of in time for school.
 
You may not realize it, but you may actually be payinh "storage fees" for doing a lay away.

Let's say I go to Walmart and buy a stroller for $150 on lay away in September. I agree to pay $50 each month(Sept, Oct, Nov). When November comes by, you see that the stroller has been discounted to $135 for Christmas shoppers. How does that make you feel? You just paid extra $15 for the convenience of doing layaway. I wonder if those kind of things happen? Do people think of this when doing layaway?
 
I've never done layaway and like others have said, I use a credit card instead. Layaway is outdated anyway.
 
I've used it many times. I think though, now you have to pay a certain percentage. But I don't make big bucks so being able to pay for something over time makes me very happy.

I've done it at pretty much any american store that you are capable of or have been capable of doing it at.

Wal-mart,K-mart, and Sears being just a few of them.
 
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