How to Use an Online Layaway Site

Online layaway is becoming more popular. It is a great way to purchase those items you do not have upfront cash for, without having to put the item on your credit card. There are a few online layaway sites that can help you plan for big ticket items or holiday buying.

Difficulty: Easy

Instructions

Things You'll Need:

• Internet Connection
• Bank Account

1. Look at the online layaway sites available. Elayaway.com is one site and lay-away.com is another. Elayaway.com has many more items available for online layaway than lay-away.com. Lay-away.com seems to focus more on electronics.

2. Read the fees for each sites. Elayaway.com offers terms up to 13 months but charges a 1.9% fee. Lay-away.com does not charge a fee but only offers terms up to six months and may require a larger down payment.

3. Decide what item you would like to place in online layaway. You may choose a television, game console, jewelry, or a new refrigerator. Layaway is for items you do not need immediately and do not have upfront payment for.

4. Sign up for the website and set up an online layaway plan. Look at your budget first to decide how much money you can afford to put towards the item per month. While your credit will not be affected by not paying, you will be charged a cancellation fee.

5. Make your monthly payment for your item. Once the item has been paid for, you will receive the item within the time stated. Read the fine print to find out what will happen if you put an item on online layaway that is no longer available. Generally, a similar item will be sent.

Resources

• Elayaway
• Lay-away

[audreylove2008]

on 12/19/2008 really good info i didnt even know about these sites.5***