Many of our favorite stores have a store online. Many of the services that were only available at a physical location are now available online. This now includes layaway options. Layaway is a great way to get the things you want, particularly at a current price. Not only are big businesses now offering layaway options, but so are many small businesses. Here are some of the things you should know about online layaway payment plans.
It's Usually Easy to Qualify
One of the most important things to know upfront is that many online layaway payment plans don't require a credit check. Some companies may do a soft credit check, but for the most part, this isn't necessary. All you will usually have to do is establish an online account and set a scheduled payment plan. Some of these payment plans will likely have a minimum amount that must be paid and a time frame of a few weeks or months. For more expensive items, it may be possible to get a longer plan. Usually, stores have a different program for more expensive items that will allow you to take the items on credit and make payments that way, sometimes with interest.
Stores Will Set Aside Your Items
With so many stores having both an online and physical location, you will often have options when it comes to where your items are stored. You may be able to have the item you are putting on layaway set aside at the location of the nearest store in your city. If you'd prefer your item shipped, having your items set aside in the warehouse will likely be the best scenario. Online layaway programs will often set up an automatic shipping option for when your item is fully paid off. This makes it easy to know exactly when your purchase will be shipped. If you've had the item stored at the nearest store, they will have it available to you the same day your last payment goes through.
Payments Can Be Automatic or Manually Setup
Finding the right payment option for you is critical. Most online layaway payment plans are established to be automatic. This gives the store offering layaway some guarantee that the item will be paid regularly. However, it is possible to set up a plan where you can manually make a payment on the company's website on the due date. Missing layaway payments can lead to an item being taken off layaway and being sold. Each company has a different policy on late payments, and it usually depends on the demand for a particular product.