Many retailers stopped offering layaway plans during the times of easy credit but in today’s economy they are back and better than ever.
To take advantage of most retailer layaway plans you do need to go into the store. Here is a list of some stores we found that are currently offering layaway plans; Kmart, Sears, Marshall’s, TJ Maxx, and Burlington Coat Factory.
In our research, we also found an internet based mega store called elayaway.com. They offer layaway on a variety of goods including big ticket items like computers, appliances and even vacations. This internet based company offers layaway plans through their own store or a large variety of retailers like GAP, Dell, Musician’s Friend and more. In addition, they also offer a layaway account that allows you to build your credit for a nominal fee.
Layaway plans are a great way to avoid using credit yet still afford those costly items. Before you use a layaway plan be sure you are informed about the store’s layaway policies. You should know; are any fees associated with the plan, how much your payments will be and when they are due, if you will get your money back if you cancel, what happens if you miss a payment, and be aware of any other rules or policies the retailer may have.