Planning to use layaway to stretch your budget this holiday season? Here's a rundown of the stores that are offering layaway:
Babies R Us
Same policy as Toys R Us. See below for details.
Best Buy
Select items totaling $250 or more. Pay 25% down, plus a non-refundable layaway fee of 5%. Make bi-weekly payments until you've paid off the balance (choose an 8 or 12-week pay off period).
Burlington Coat Factory/Baby Depot
Pay a 20% deposit and a $5 service fee to initiate a 60-day layaway (90-day for Baby Depot). The second 20% payment must be made within 14 days. Canceled orders will result in a $10 fee. Any refunds resulting from the cancellation or return of layaway merchandise will be placed on a store gift card. No cash refunds will be made. For complete details:
Burlington Coat Factory's Layaway Policy (Click on the "Layaway Policy" link under "Helpful Links")
Hallmark
Terms vary by store location. Ask at your local store.
Kmart
Available in store and online (for all items marked with the layaway icon). Pay $15 or 10% down (whichever is greater) and a $5 initiation fee. Then, make payments over an eight-week period (a 12-week option is also available). A $10 fee applies to all canceled orders. All online orders must be picked up in store. For complete details:
Kmart Layaway Program
Kmart Layaway Facts
***Kmart has waived the layaway service fees until Nov. 17. ***
Marshall's
Pay 10% down or $10 (whichever is greater) and a $5 service fee. Merchandise must be paid off and picked up within 30 days. Not offered in some stores. Use the store locator on their website to locate a participating store near you (noted by a little hanger icon). Jewelry, food, furniture and clearance items do not qualify for layaway.
Sears
Available in store and online for all items marked with the layaway icon. Pay $20 or 20% down (whichever is greater) and a $5 initiation fee. Then, make payments over an eight-week period. A $15 fee applies to all canceled orders. All online orders must be picked up in store. For complete details:
Sear's Layaway Program
Sears Layaway Facts
Sears is waiving the layaway service fees from Sept. 29 to Oct. 29 and Nov. 2 to Dec. 3.
TJ Maxx
Pay 10% down and a $5 service fee. Merchandise must be paid off and picked up within 30 days. Not offered in all stores. Use the "Find a Store" function on their website to locate a participating store near you (noted by a little hanger icon). Jewelry, clearance items, food and furniture do not qualify for layaway.
Toys R' Us
Must make a 20% deposit, pay all applicable taxes and pay a $5 service charge at the time the item is placed on layaway. Half of total due must be paid within 45 days, remaining balance must be paid within 90 days or by the designated Holiday Cutoff (whichever is sooner). Canceled orders will result in a $10 fee. Layaway is currently offered in stores only. Stop by a Toys R' Us for complete details (and exclusions).
Walmart
Layway toys, electronics, small appliances, jewelry and some sporting goods with 10% down or $10 (whichever is greater) and a $5 service fee (refundable as a $5 gift card when you pay in full). Total purchase must be over $50, and each individual item must be $15 or more. The layaway program starts September 16, and all purchases must be paid for and picked up by December 16. Not available online.
More Layaway Options
Many antique stores and jewelry stores also offer layaway. Call around to find out what your local businesses are offering this year.
Prefer to shop online? Then, check out elayaway.com. It allows you to set up a layaway plan with over 1,000 stores.
Poll: Do you plan to use layaway this year?
1) Yes
2) No
3) I'm still undecided.
