Black Friday Layaway isn't really a new concept, though it may seem like it in 2012.
In fact, decades ago, layaway in many brick and mortar stores was a way that businesses could help financially savvy consumers still have a nice holiday AND be able to afford the gifts they were purchasing.
These holiday layaway plans and transactions allowed for the consumer to spread the cost of the purchase out over several weeks and paychecks.
Recently many stores including Kmart and Walmart agreed to re-instate the holiday layaway program – given these financial times. What's even better are online websites like Elayaway.com now offering a great way to pay down purchases online and participating in black Friday layaway as well.
Online Layaway Programs
Did you know that you could do online layaway programs for black Friday. Places like Sears and Kmart allow you to layaway merchandise, you just need to make sure it is available for pickup at your local store. So this coming black Friday, you can go even log on to those websites and make payments until the products are paid off. Again, just make sure that these products have an in store availability and you should be able to get black Friday sale prices for layaway programs.
This is a wonderful option and allows for you to just pick out the items you want at Sears or Kmart without ever entering the store.
Sears and Kmart Christmas Club Program
Sears and Kmart both have Christmas Club programs. And say if you start at the beginning of this year, you can begin to add your Christmas money and Sears and Kmart will add a 3% bonus to the card against the money that is there by November 24. So if you have $500 dollars saved for Christmas, the Christmas Club program would add $15 dollars. That's free money.
Here are some other stores offering Black Friday Layaway for 2012 with their terms and conditions:
Best Buy: When you have merchandise $250 dollars or more, you must pay down 25%, plus a non refundable fee of %5. You must also make bi-weekly payments until the balance is paid off. You can choose between 8 or 12 weeks.
Burlington Coat Factory: You will required to pay a 20% deposit. Burlington will also ask you to pay a $5 dollar layaway deposit fee. You will have 60 days to pay off all your items. Any layaway store cancellations will be applied to store credit.
Toys R Us and Kids R Us: Make a 20% deposit down against the total cost. You can do this against most toys including bikes, dollhouses, car seats, strollers etc. You will also be required to pay a $5 dollar service fee. Half of your Toys R Us layaway total must be paid off in 45 days. The rest must be paid off within 90 days.
Sears: You must pay $15 dollars or 20% down (whichever is more) and a $5 layaway service fee. You must also make payments over 8 weeks. A $10 cancellation fee will apply should you change your mind.
Kmart: You must pay $15 or 10% (whichever is more) and a $5 layaway fee. Like Sears, you make payments over an 8 week period. Look for the layaway icon online, to see which items qualify.
As you can see black Friday layaway for 2012 has a lot of options and flexibility.