Which Stores Have the Best Layaway Plans?
November 03, 2011, By Kasie Baltes 0 comments
Nothing irks me more than hearing the sweet familiar sound of jingle bells before the trick-or-treaters have rounded the street for their Halloween candy. It's the first week of November, people! Nothing like rushing the holidays. As annoyed as I was that someone was already singing the off-key tune about mistletoe, I couldn't ignore it. The holidays are quickly approaching, and commercials, advertisements and even the radio are doing their best to not let you forget.
The newest trend this season is buying through layaway programs. The economy is in a slump, and paying a little here and there for your gifts seems like an obvious choice—but buyer beware. Reading the fine print will definitely save you time and money. So if you find yourself humming "Rudolf the Red-Nosed Reindeer," take a look at this year's roundup of layaway programs. In some cases, it pays to be prepared.
Walmart
You've probably seen the commercial a few hundred times, but here's the lowdown on this "easy layaway" program. The toy, electronics and jewelry departments are the only ones eligible for layaway, and you must make a down payment of 10 percent of the total purchase price. Any item you buy through the layaway program must be over $15, and your total purchase must be $50 or over. Layaway only applies to items bought in the store, and a $5 service fee is charged on your purchase. In the fine print, you'll see that layaway will not be offered on Black Friday, and if orders aren't paid for and picked up by December 16th, they will be canceled and refunded with a $15 fee (cancellation and service charge) deducted from the total price.
Best Buy
Best Buy is known to carry some pretty expensive electronics, so when it comes to buying gifts in advance, layaway makes for a pretty smart decision. Although Best Buy layaway is available year round, you have to buy items in the store and make a 25 percent down payment and pay a 5 percent non-refundable layaway charge. Items must total $250 or more, and products can be placed on layaway for no longer than 12 weeks (only 8 weeks on all computers). To find out which stores near you participate and more information on this program, check the Best Buy website.
NEXT: Toys "R" Us
