Layaway got it's start as a combination of buying Christmas gifts where the store kept the items (thus keeping curious eyes from finding out what the gifts were) and a method of buying over time back in an era before credit card use was as common as it is today. Layaway was a means of locking in a sale price or promotional deal when you either didn't have the money to pay right away or did not need the item(s) right away.
Yes . . on layaway, there is no finance charge . . you drop by to make payments or do it online . . but you cannot have the article until it's paid off . . if you want it now . . then apply for credit . . and pay an interest charge . . the good thing about layaway, as it makes us think about those purchases
It's called layaway because that is what is done. The store "lays it away" for you until it's paid for. Meaning they keep it for you until paid for - in full. No, they don't let you take it with you after one payment. That's what credit cards are for.
You get to take it home when you make the final payment, not before
Must be paid in full before you take possession
When you have finished paying for it, then you get it. Its not credit.
i want to get an xbox one on layaway but do i have to pay the whole thing off before i am able to take the system home? or do i get the system when i first make a payment and just pay it off
