2007-05-06 15:55:25 · 4 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
It's a feature that some stores offer where you select an item to buy and pay a partial payment - then you make regular payments on it, usually weekly, and they keep the item until it's paid off. It was much more common before credit cards came along, but still exists in some stores.
2007-05-06 16:03:27 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Layaway is something people generally do when they can't afford to pay the entire cost of a product at once. Instead they put down a percentage of the cost and the store keeps the product for them until they pay off the total cost. I don't know if any interest is charged or if there is any other fee generally charged for the service.
2007-05-06 23:08:50 · answer #2 · answered by wolfatrest2000 6 · 0⤊ 0⤋
Layaway is when you ask the store to hold an item for you while you pay for it in increments. It is for people that are either unable to save up, or people that want to make sure they get the item before it is sold out.
2007-05-06 23:02:52 · answer #3 · answered by Susan 5 · 0⤊ 0⤋
If you mean layaway in a store, it is when you can leave stuff there and no one else can buy it, and you pay for it later
2007-05-06 23:08:41 · answer #4 · answered by tmhangel 1 · 0⤊ 0⤋