Hannah, Olivia, Sreeka
What is it?
A purchasing method that allows a consumer to put a product on hold by placing a deposit on the item.
Layaway allows the customer to make smaller payments on the product until the purchase price is paid in full, rather than paying for the item with credit and adding interest to the cost.
Layaway is a waste of time if you won’t be able to make the weekly payments required to pay for your item. Plus, you can’t bring it home. If it’s something you want to use immediately, layaway won’t help you.