All the major banks here offer them.
FWIW, Scoobie and I used layaway for a couple of larger presents at Wally World. We wanted to ensure were available yet didn't want/need to put all the money down for all at once. $5 plus a 10 percent down with the remainder due by December 16th. Frankly, $5 is a pittance to pay to ensure the stuff I want to get for the kids or we get for each other if we want "big ticket" items is a helluva lot cheaper ($5 of $500 purchases for two months translates to less than 6 percent interest) versus the 18-plus percent interest with payments as far as the eye can see credit cards.
Chuck Schumer is living proof the most dangerous space in America is anyplace between him and a television camera.
This is a jab at Walmart and their layaway policy, nothing more.
Hi 5! Exactly!
Schumer is all about smoke and mirrors....Here is the walmart layaway policy:
Christmas Layaway Is Easy at Walmart Stores
The convenience of Christmas Layaway is now available on eligible toys and electronics that you purchase at your nearby Walmart store. It's easy to take advantage of Christmas Layaway from Oct. 17 until you make your final payment and pick up your items by December 16, 2011. Just place your eligible items on layaway at the Walmart.com desk in your local store, where you will also pick up the items. Each item must be $15 or more and your total purchase must be over $50. There is a $5 service charge, and you can make payments on your Christmas Layaway items at any register in your Walmart store. Christmas Layaway is not offered on Friday, November 25, 2011 and is not offered on wireless phones that require contracts. Cancellation and service fees may vary by state and are non-refundable. Our store associates can provide you with complete details on these fees and any other restrictions that may apply. So get ready for the holidays with the convenience of Christmas Layaway at Walmart stores.
First of all, you lying sack of doo...you have to put at least 50 bucks total on the layaway. That particular Elmo Doll is going for about 40 bucks so just putting that on by itself is NOT going to happen. SECONDLY, dumbass(much like your sycophants on DU i might add), the only non-refundable fee here that does not go towards the costs is the 5 dollar service charge. Last time I checked, that's TEN percent of 50 bucks, so you are only getting charged about 10 percent interest for that purchase if that's all you get. The percentage of that fee's cost drops precipitously the MORE you put on layway ie 100 dollars on layaway is now 5%. You take the full 2 months to pay it off and you are getting even more of a deal on that percentage. Think of that 5 bucks as a storage fee--Walmart often rents units beyond their store capacity to put all those layaways in.
The 10% down, dipshit, goes towards the balance on the account. It's to make sure people aren't just putting crap on layaway just in case and they just let it go. They have money invested so they will either cxl the layaway or pick it up in order to not lose their deposit on those items. It's not some finance fee for purchasing it. The funny thing is you have no problem though with states charging sale's tax that could be hurting the pockets of those poor belabored Walmart shoppers.
I plan to use it as well for my youngest's gift: a DS and a couple of games to go with it. That 5% amounts to 2.5% considering the total. I have 3 kids who are almost all too old for 'baby toys' so having this convenience comes in handy to help plan for Christmas. I not only like the financing convenience, but as a mother who has hardly any time without my children being a single parent who works fulltime, I like that I can do all or most of my shopping in ONE day, but pay for it over several weeks without the finance charges of credit cards--it's nice to keep it hidden from the kids too until it's almost that time--they know all my hiding places at home
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