Walmart layaway lets customers reserve purchases with a total value of $50 or more by making a down payment and agreeing to periodic installments. The service is only available for the holiday season lasting from mid-September to mid-December. As of August 2013, Walmart terminated the opening fee applied to purchase balances, making layaway service free. Customers must pick up the reserved items and finish payment by the December end date.Know More
Layaway is only available for in-store purchases, and select stores offer year-round service for customers buying jewelry. Each item must be at least $15, and qualifying purchases are typically limited to jewelry, electronics, toys, small appliances and sporting goods. In 2013, Walmart expanded the layaway selection to include infant toys and car electronics, while wireless contract-based phones are excluded. The initial down payment must equal 10 percent of the balance or $10, depending on which amount is greater.
Customers open a layaway account at Walmart service desks, but installment payments can be completed at normal registers. If customers decide to cancel layaway purchases, they are charged a $10 fee and reimbursed for any previous payments. In some cases, items must be stored off-site, and customers are given a longer grace period for pickup. Walmart's standard policies on returns and ad matching also apply to layaway purchases, allowing customers to pursue refunds, exchanges or price reductions.Learn more about Marketing & Sales
As of Jan. 25, 2015, Walmart's layaway policy includes a minimum down payment with no opening fee on purchases totaling $50 dollars or more. In 2014, Walmart's layaway program ran from Sept. 12 to Dec. 15.Full Answer >
According to Walmart's coupon policy, WIC purchases are accepted by all Walmart stores. However, certain restrictions apply to these purchases and vary based on the purchase and location.Full Answer >
With a car loan, the consumer makes a down payment on the car, obtains financing, makes monthly payments on the loan and pays interest on the loan, according to the Federal Trade Commission. Financing can be obtained through a direct lender or the car dealership.Full Answer >
As of 2015, Walmart is not stopping its layaway program, but the company only offers the program during the holiday season. Walmart had previously discontinued layaway in 2006, but it was brought back in 2011 due to customer demand.Full Answer >