Have you ever gone into a store and saw something that you really, really wanted? Yup, I can see all the head nodding as you can relate. So there you were wishing there was a way to secure this item while rustling up the money to pay for it. Okay… so let me take it back a few years…..Years ago after I left high school and started working, I was introduce to the concept of buying on credit.
Now the credit I am talking about is not on a plastic card, but rather on word of mouth, a verbal promise to pay, a receipt that had not only the total but also a date in the future when payment will be expected, it could be in weekly increments or one lump sum at the end of the agreed period. So here is how it worked back then….a salesman or woman would come to your workplace or house to show off their wares. If you saw something you liked, you made an agreement either verbally, or through written receipts. On the day of the agreed date for payment, the sales person would show up for his/her money, and this would continue until the the item/items were paid for in full. I believe stores adapted this way of selling in the form of layaways and this was before the days of credit cards. The only difference was that purchasing on credit vs layaway was that in the former you were allowed to take the goods home but on the latter, the goods stayed in the store until it’s fully paid for.
I am not sure that people use the paying on credit system anymore and layaway was outdated a few years back from most stores who offered it in the first place. Well layaway is back on the rise, as the economy is in a state of disrepair. Consumers are looking for any help possible! While most major stores will never go back that route, there are a few that will facilitate your needs.
I for one take advantage of layaway shopping for my son and I and I am now looking into layaway for household items. Most stores will charge a $5.00 layaway fee, and will also ask you to pay down 10-30% of the total of the items being purchased. You however can choose to pay anywhere from the required amount to anything above the amount.
For example, if you wanted a number of items and the total is $80.00+ $5.00 (initial layaway fee) and the downpayment is 20%, then your required amount to secure the items would be $17.00. Then you are issued your receipt and you have 30 or 60 days in which to pick up your purchases. However, some stores require a weekly payment while some ask that you make a full payment at the end of the agreed period. Please note that all layaways are not created equal and you must follow the rules. No payment will result in item being restocked and monies lost. With that being said here are a few that will accomodate your needs and then some. As I come across more stores that offer this program I will add to my list.
1.) Toy “R” US
2.) Babies “R” US
4.) TJ Maxx
10% down and a $5 service fee. Merchandise must be paid off and picked up within 30 days. Some items are not eligible for layaway and not all stores participate. Search through the store locator on the website and stores that offer layaway,the indictor will be a hanger.
7.) Marshalls Store indicator will direct you to the stores that offer layaway option or you can call to find out.
Here are some of the smaller stores that has layaway (same policy the stores above). Now I am located in the NYC area and I am not sure how far these store span globally, however if you know these store then you may or may not know that they offer layaway.
1.) Joyce Leslie
3.) Cookies (primarily kid’s uniform store)
4.) S&D (children store)
Both QVC and HSN offer what is called flex payment….these are granted at their sole discrection. It has nothing to do with a credit check and just one flex payment will get that item into your home. All they ask is that you make your minimum monthly payment using a credit, debt card or checking account……ask me how I know ;-)
Now go and try out the layaway…its fun, and affordable……Enjoy!!!!