How to Purchase Guns on Layaway

A layaway program allows you to pay off expensive purchases like guns over time without having to use your credit card. While most gun stores offer some sort of layaway program, the specific terms vary greatly from merchant to merchant. You'll need to do some shopping around to find the gun store offering the most advantageous layaway program.

Difficulty: Moderate

Instructions

Things You'll Need:

• Down payment
• Ability to meet scheduled layaway payments

Pay for Your New Firearm Using a Layaway Program

1. Deal with a store where you've shopped before if you're not new to the world of guns. Gun store owners frequently reward repeat business with better layaway terms.

2. Check into each store's policy. The terms usually vary according to the value of the gun and your standing with the store. Expect that a first-time customer looking to buy an expensive firearm will be asked to put down a significantly larger down payment than a repeat customer looking to pay for a smaller item on layaway.

3. Review the terms of the store's layaway policy, which should be available in writing. Unless you're intimately familiar with the gun store's owner, avoid any store that doesn't offer its policy on paper.

4. Expect that your down payment will range anywhere from as little as 10 percent of the cost of the gun to as much as 25 to 40 percent. Most gun stores want the duration of the layaway plan not to exceed 90 days.

5. Remain communicative. The terms of your payment schedule will appear rigid and inflexible, but if you're having trouble meeting a payment or if you need more time to finish paying off your new gun, many stores will accommodate you. However, you should be aware of any conditions in the contract which can trigger the termination of the layaway agreement, because termination might mean that you won't be able to recover any of the money you've paid towards the gun.

Tips & Warnings

• If you only need a few days to come up with the purchase price of the gun, many gun stores will agree to hold the item of your choice free of charge.
• Some stores that sell guns might even allow you to take your purchase home with zero money down if you're a regular, well-established customer.
• If your state has specific licensing requirements regarding the purchase, possession and use of guns, you will have to meet them before you'll be able to purchase a firearm on a layaway program.