How does an online layaway plan work?


Quick Answer

An online layaway plan works by setting aside items the customer wants to purchase through an online shop until the customer has paid it off on an installment plan. The specifics of online layaway programs differ between stores.

Continue Reading

Full Answer

Online layaway plans usually require the customer to make a down payment equal to a percentage of the item's total cost. The customer may then finish paying off the item in installments made on a schedule that is set by the retailer. There are often small fees associated with online layaway programs and additional fees if the customer cancels the layaway or fails to pay off the item on schedule.

Learn more about Household Budgets

Related Questions