Sign Of The Times...The Return Of Layaway...

[SteyrAUG]

Big Box Retailers Get Back In Layaway Business


Have you noticed all the signs for layaway programs? In these tough economic times, an old way to buy holiday gifts is making a comeback.

Decades ago, it was a really popular way to pay for things in small installments. Well now, it’s back at major retailers all over the country and some customers say the timing couldn’t be better.

Of course, layaway never completely disappeared. Sears and Kmart have offered it year-round for more than 40 years. But since 2008, the number of layaway contracts at both stores has more than doubled.

Walmart, which had abandoned layaway in 2006, launched its new layaway program this week for toys, electronics and jewelry.

On its website, Walmart says, “Christmas Layaway Is Easy.” Your down payment is only 10 percent of the total purchase price. There are no finance charges, just a $5 service fee. You make small payments and have until Dec. 16 to make your final payment and pick up the merchandise.

Best Buy is now offering layaway in some states. And Toys “R” Us recently expanded its layaway program to include more products. Other big name retailers with holiday layaway programs include Marshall’s, T.J. Maxx and Burlington Coat Factory. Many small stores also offer layaway. If you’re not sure, ask.

Before credit was so widely available, layaway was the smart way to buy holiday presents. In this economy, layaway makes sense again for both customers and retailers.



More proof that the Carter Economy is back.

[jklaughrey]

Just so long as the Blue/Green Chip stamps never come back!

Attachment 10092

[SteyrAUG]

Just so long as the Blue/Green Chip stamps never come back!

Attachment 10092

Good lord...S&H Green Stamps. I was like a child factory worker putting those damn things in books for my parents.

[jklaughrey]

Attachment 10093

[montanadave]

Just so long as the Blue/Green Chip stamps never come back!

Attachment 10092

Don't read this article from The Economist: http://www.economist.com/node/12906405

Quote from the last paragraph:

"Not everything from the Depression can make a comeback: sealed windows in modern bank buildings make it hard for people to jump out of them. But if layaway is back, can Christmas clubs and green stamps be far behind?"

[montanadave]

Good lord...S&H Green Stamps. I was like a child factory worker putting those damn things in books for my parents.

Ditto.

Nothing more depressing than going to their little "showroom" with all that ticky-tacky crap on display and realizing you only needed another 250 books to score that waffle iron.

[chadbag]

My mom got a few things from Green Stamps. It was fun as a kid to collect them and go look at stuff.

However, green stamps never really left. They just changed forms. Technology has allowed us to have "rewards cards" that get scanned instead and the "stamps" electronically tallied for us in our "accounts."

I noticed the lay-away signs at Wal-Mart. Had to laugh at the suckers who use it.

Here is a better way (and no, I am not claiming "inventorship" of this method obviously)

Just get some letter envelopes, and instead of making a trip to Wal-Mart when you have a little money to put money towards your lay-away, put the money in the envelope. Once you have what you need in the envelope, walk down to the store, and pay CASH for the item you want. Beats lay-away any day and you save the $5 service fee as well as any extra gas money you used if you go and make payments along the way (barring a need to be there anyway).

[ucrt]

.

Need to send that info to Cabelas' headquarters.
Those turk deville's stopped their Lay-Aways a few months back on everything except guns and safes.
Really chapped me because I would Lay-Away they heck out of ammo. Those girls hated me I had 8K on lay-away at one point...but no more...

Oh well...

.

[pilotguyo540]

My mom got a few things from Green Stamps. It was fun as a kid to collect them and go look at stuff.

However, green stamps never really left. They just changed forms. Technology has allowed us to have "rewards cards" that get scanned instead and the "stamps" electronically tallied for us in our "accounts."

I noticed the lay-away signs at Wal-Mart. Had to laugh at the suckers who use it.

Here is a better way (and no, I am not claiming "inventorship" of this method obviously)

Just get some letter envelopes, and instead of making a trip to Wal-Mart when you have a little money to put money towards your lay-away, put the money in the envelope. Once you have what you need in the envelope, walk down to the store, and pay CASH for the item you want. Beats lay-away any day and you save the $5 service fee as well as any extra gas money you used if you go and make payments along the way (barring a need to be there anyway).

I don't think lay away is all that bad. Beats the hell out of finance fees and interest. Its 100% honest, and unlike the envelope, it is secure.

Don't get me wrong, the envelope is fantastic, but how many "emergencies," can your SO dig up to chip away at the stack of cash? Not everyone is blessed with a good spouse.

[chadbag]

I don't think lay away is all that bad. Beats the hell out of finance fees and interest. Its 100% honest, and unlike the envelope, it is secure.

Don't get me wrong, the envelope is fantastic, but how many "emergencies," can your SO dig up to chip away at the stack of cash? Not everyone is blessed with a good spouse.

That is what safes are for