Back again after being reintroduced in 2011, Walmart’s Christmas Layaway Store offers shoppers a “free” layaway program.
That means no opening fees, a $10 or 10% (whichever is greater) down payment to get started, and a $10 cancellation fee. There’s a $50 total purchase minimum in order to use the program, with each item you place on layaway needing to $15 or greater.
You’ll have between now and December 13 to complete your layaway payments and pick up your order, otherwise your order will be cancelled, your payments refunded, and you’ll be charged the $10 cancellation fee. Although Walmart’s layaway program is available the majority of their items, it does exclude mobile phones that require service contracts.
Another “free” layaway program, Toys ‘R’ Us have done away with their service fees during the holiday shopping season and only require a deposit of 10% of your order’s total cost.
Up until December 15, you’ll be able to pay your bi-monthly installments in store or online. There’s a cancellation fee of $10 on all layaway orders that you’ll be charged if you cancel your layaway account, if you’re unable to complete your payments, or if you don’t pick up your order by December 15.
Toys ‘R’ Us’ layaway program is available on all toys, electronics, and most infant and toddler items.
With 8-week and 12-week layaway payment plans, Sears has two separate sets of fees and payment requirements attributed to each.
For the 8-week plan, you’re charged a $5 service fee upfront and required to make a down payment of $20 or 20% (whichever is greater) on your order. On top of the service fee and down payment, there’s a $15 cancellation fee on all 8-week layaway orders. You’ll also need to make 4 bi-weekly payments, each one being 25% of the balance due after your down payment of $20 or 20%.
For the 12-week plan, there’s a $10 service fee, a $25 cancellation fee, and you have to make a down payment of $35 or 20% (whichever is greater). Your 6 bi-weekly payments will equal 16.7% of the balance due after the down payment.
Although they’re owned by Sears, Kmart has a slightly different fee structure for their layaway program, although they also offer 8-week and 12-week payment plans.
With Kmart’s 8-week plan, you’ll be charged a $5 service fee, a $10 cancellation fee, and you’ll need to make a down payment of $15 or 10% (whichever is greater).
Their 12-week plan requires a $10 service fee, comes with a $20 cancellation fee, needs a $30 or 10% (whichever is greater).