Smart Shopping with Kmart Layaway
The Kmart layaway program is an easy way to make sure you get what you want. You make a small down payment, pay for your item over eight or 12 weeks, and then pick up your purchase or have it delivered. Anyone can use the layaway program online or in a Kmart store. You’ll love the way it stretches your shopping dollar.
5 benefits of layaway programs
1. You get what you want before it’s gone. Popular children’s toys and trendy fashions sometimes sell out fast. With layaway, Kmart holds the item for you.
2. You can spread out the payments for expensive items like TVs and appliances without adding interest charges.
3. You won’t go into debt for something you decide you don’t want. Your payments will be returned to you if you cancel your contract before you pay it off, minus only service and cancellation fees.
5. Layaway keeps you from wrecking your budget. You don’t have one giant payment to meet, because your cost is spread out over time.
Steps to using eight-week layaway
First, shop for the items you want. You can start shopping for back-to-school items early this way, or layaway Christmas or birthday gifts. It’s a smart way to shop the sales because your payments don’t include the high interest rates many credit cards charge.
Take your items to the layaway counter in your local Kmart, or add it to your shopping cart online. You agree to pay for your items in four payments, and Kmart agrees to hold them for you.
You pay only a down payment to begin your contract. You’ll pay $15 or 10 percent of your purchase, whichever is larger, to hold your item on layaway. That includes a $5 service fee. In some states, the down payment is even smaller.
Next, you make four regular payments every two weeks, with cash, check or debit/credit card. If you get stuck, you have a seven-day grace period to make your payment. You can make a payment at your local Kmart or online with a credit or debit card.
A 12-week layaway is also available for purchases greater than $300 in many Kmart stores. You must make a slightly larger down payment, $30 or 10 percent of your purchase, whichever is greater. The down payment includes a $10 service fee, and you pay off your purchase over a longer period, in six payments.
You can cancel your layaway contract any time. Your payments will be returned to you, minus the service and $10 cancellation fees. Also, layaway is not yet available in every store, and not all items can be put on layaway. Most things can, though, and that makes the Kmart layaway program a great way to stay within your budget and still buy the things you need.