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Learning for Better Living


Buying on Layaway

PDF file available in both English and Spanish

A layaway plan is an easy way to buy something when:

  • Your cash is running low.
  • You don’t want to use credit.

When you buy something on layaway, the seller agrees to put your purchase aside and keep it for you until you pay for it in full.

  • The terms of layaway plans vary from store to store, so check out a store’s layaway plan before you decide to buy.
  • Ask for a written copy of the store’s layaway program.

Before you agree to buy on layaway, you should have the following information:

  • The amount of the down payment you give.
  • The length of time the goods will be held for you.
  • The amount of each payment and when it is due.
  • A description of the goods.
  • The total price of the goods and a separate listing of any special costs.
  • Any terms or conditions of the layaway agreement.
  • The seller’s refund policy.

Until you finish paying for your layaway, the store has your money and the layaway item. If the store goes out of business while you are still paying, your money and the item may be lost. So check out the store’s reputation before you buy on layaway. 



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Last update: Tuesday, May 05, 2009