Sears Offers Layaway
Posted on Monday, November 16th, 2015 at 5:05 pm
Sears is among the stores that are offering the convenience of layaway to their customers. Use it wisely, and it can help you to be able to purchase holiday gifts. The trick to using layaway without having it become too expensive is to pay attention to the rules.
Sears layaway program can be used either in their stores or online. No downpayment is required if you choose to use layaway in a Sears store. If you want to use their layaway program online, it cost one penny as a down payment.
That being said, there are service fees to be aware of. The only exception is in states where service fees are prohibited by law. The Sears website does not specifically mention which states prohibit service fees for layaway. You will have to do some homework to figure if your state is among them.
In addition, you will be required to pay a downpayment at the time you start to use layaway. The exact amount of your downpayment is going to depend on the overall cost of the items you want to put on layaway.
There are two different spans of layaway to choose from at Sears. One is an 8-week layaway contract. If you choose this option, be aware it comes with a $5 service fee. Those who select an 8-week layaway must make four payments on the items they put on layaway (during the 8 weeks). The amount of the payments is equal to the total cost of the products you put on layaway
There is a 12-week layaway for people who choose to put $400 (or more) of product into the Sears layaway program. The 12-week layaway requires a $10 service fee. Those who are using the 12-week layaway must make 6 payments during the 12-week layaway period. The amount of the payments is equal to the total cost of the products you put on layaway.
Not all products are eligible for layaway. If you shop online, look for the items identified as “Available for Layaway”. Those items are the only ones that can be placed into your online layaway. It appears that all items in the Sears store are eligible for layaway. The Sears website does not list any limitations on products or on a minimal cost for individual products.
Make sure that you pay off your layaway when the payment is required. If you miss a payment, you get a 7 day grace period after your payment due date before your contract is cancelled and items are returned to stock. A non-refundable cancellation fee will apply. You can make payments either at the Sears store where you have the layaway, or online through the Sears website.