The layaway payment plan at Sears entails a customer making a down payment on items and paying in installments every two weeks, as of 2015. When she pays off an item, she retrieves it at the store or arranges for pickup or delivery if it is at a warehouse.
The process takes eight or 12 weeks, depending on the plan the customer chooses. It begins when she designates items for layaway, either by bringing them to a store register or adding them to her online shopping cart. Eligible online products read "Available for Layaway."
The Sears sample payment table shows that for an item costing $100 on an eight-week plan, the down payment is $21, and the customer makes four additional payments of $21 two weeks apart. The total number of payments is $105 and includes the fee for a new layaway contract. If the customer cancels the layaway, she must pay another fee. She does get her payments back, minus all fees.
If a customer cannot make a payment, Sears offers a seven-day grace period. Thereafter, the store cancels the contract and applies the cancellation fee. Sears offers the 12-week plan only for larger purchases; as of June 2015, 12-week plans start at $400. Customers make their installation payments in stores or online.