Walmart has been a go-to destination for shoppers looking for great deals on a wide range of products. One of the most popular payment options Walmart offered in the past was layaway, which allowed customers to make payments on items over time. However, there have been recent changes to Walmart’s payment options, leading many to wonder if the company still offers layaway. Checkout: Walmart Pay: Which is Better – Weekly or Bi-Weekly? (+Even App)
According to recent reports, Walmart has decided to discontinue its layaway program and replace it with a buy now, pay later financing option. This move comes as part of the company’s efforts to modernize its payment options and make it easier for customers to purchase the items they want. With the new financing option, customers can make purchases and pay them off over time, without having to wait until they have all the money upfront.
While the decision to discontinue layaway may be disappointing for some customers, Walmart’s new financing option offers a convenient and flexible way to pay for purchases. With this new option, customers can enjoy the same great deals and products they’ve come to expect from Walmart, without having to worry about paying for everything upfront.
Walmart’s Layaway Policy | Walmart Currently Offer Layaway
Walmart used to offer a layaway program, but as of September 2021, it has been replaced with a buy now, pay later financing option called Affirm. However, some sources suggest that Walmart may still offer layaway at select locations during the holiday season.
Eligibility Criteria
To be eligible for Walmart’s layaway program, customers must make a purchase of $50 or more. Layaway is available for select items, including toys, electronics, and jewelry, but not for groceries or clearance items. Customers must also pay a non-refundable fee of $5 to start the layaway process.
Layaway Duration
Walmart’s layaway program typically lasts for 90 days. During this time, customers must make regular payments on their layaway items. Payments can be made in-store or online, and must be made at least every two weeks. If customers fail to make payments on time, their layaway items may be returned to stock and the customer will lose their initial layaway fee.
Cancellation Policy
Customers can cancel their layaway items at any time, but they will lose their initial layaway fee. If customers cancel their layaway items before the final payment is due, they will receive a refund of all payments made, minus the initial layaway fee.
It’s important to note that Walmart’s layaway program is subject to change and may not be available at all locations. Customers should check with their local Walmart store to see if layaway is currently being offered.
Products Eligible for Layaway
Walmart offers layaway for a variety of products, including toys, electronics, home appliances, furniture, and jewelry. The eligibility of products for layaway may vary by store location and season. However, generally, most Walmart stores offer layaway for the following categories of products:
Toys
Walmart’s layaway program is particularly popular during the holiday season, and toys are one of the most sought-after items. Toys for all ages, including action figures, dolls, board games, and video games, are eligible for layaway.
Electronics
Many Walmart stores offer layaway for electronics, including TVs, laptops, tablets, smartphones, and gaming consoles. Customers can pay for these items in installments over time, making it easier to afford expensive electronics.
Home Appliances
Large home appliances, such as refrigerators, washing machines, dryers, and dishwashers, are also eligible for layaway. This is a great option for customers who need to upgrade their appliances but cannot afford to pay for them upfront.
Furniture
Walmart’s layaway program includes a wide range of furniture, such as sofas, chairs, tables, beds, and mattresses. Customers can choose from a variety of styles and price points to find the perfect furniture for their home.
Jewelry
Walmart also offers layaway for jewelry, including engagement rings, wedding bands, necklaces, bracelets, and earrings. This is a great option for customers who want to purchase high-quality jewelry but cannot afford to pay for it upfront.
Customers should check with their local Walmart store to confirm the eligibility of specific products for layaway. Additionally, customers should be aware of the layaway terms and conditions, including the required down payment, payment schedule, and cancellation policy.
Layaway Process at Walmart
Walmart used to offer a layaway program, but they have discontinued it. Instead, they now offer a buy now, pay later financing option called Affirm. This program allows customers to purchase an item and pay for it in installments over time.
In-Store Layaway Process
As mentioned, Walmart no longer offers in-store layaway. Customers can still purchase items in-store and use the Affirm program to pay for them over time.
Online Layaway Process
Walmart also no longer offers online layaway. However, customers can still use the Affirm program to purchase items online and pay for them over time.
To use the Affirm program, customers can select the option at checkout. They will be prompted to provide some personal information to complete the application process. Once approved, they can choose to pay for their purchase in installments over a set period of time. The terms and conditions of the financing option will vary depending on the customer’s creditworthiness and the amount of the purchase.
It’s important to note that the Affirm program does charge interest on purchases, so customers should be aware of the fees associated with the program before signing up. Additionally, customers should make sure they can afford the monthly payments before committing to the program.
Overall, while Walmart no longer offers a layaway program, the Affirm financing option provides customers with a way to purchase items and pay for them over time.
Payment Methods for Layaway
Walmart has recently announced that they will no longer be offering layaway as a payment option for their customers. Instead, they have introduced a new payment option called Affirm, which allows customers to buy now and pay later.
With Affirm, customers can purchase an item and pay for it over time with monthly payments. During checkout, Affirm shows customers the exact terms of their payment plan, which can range from 3 to 24 months, depending on the purchase amount and the customer’s eligibility.
To use Affirm, customers must first apply and get approved for the payment option. Once approved, they can use Affirm to pay for their items both online and in-store.
Customers can also use other payment methods to pay for their layaway items before the introduction of Affirm. These payment methods include:
- In-store payments: Customers can make payments towards their layaway items in-store. They can pay with cash, debit card, credit card, or Walmart gift card.
- Online payments: Customers can also make payments towards their layaway items online. They can use a debit card, credit card, or Walmart gift card to make their payments.
- Automatic payments: Customers can set up automatic payments for their layaway items, which will deduct the payment amount from their chosen payment method on a regular basis until the item is paid off.
It is important to note that layaway items must be paid off by the specified deadline in order to avoid cancellation and a restocking fee. The deadline for layaway payments typically falls a few days before Christmas.
In summary, Walmart no longer offers layaway as a payment option, but customers can use Affirm to buy now and pay later. Customers can also use various payment methods to pay for their layaway items before the introduction of Affirm. It is important to pay off layaway items by the specified deadline to avoid cancellation and a restocking fee.
Benefits of Walmart’s Layaway
Walmart’s layaway program offers several benefits to customers who want to purchase items but cannot afford to pay for them upfront. Here are some of the benefits of Walmart’s layaway program:
1. No Interest
Walmart’s layaway program does not charge any interest, unlike credit cards or other financing options. Customers can make payments over time without worrying about accruing interest charges.
2. Flexible Payment Options
Walmart’s layaway program allows customers to make payments in-store or online, using a debit card, credit card, or cash. Customers can also make payments in small increments, making it easier to budget for larger purchases.
3. Extended Hold Time
Walmart’s layaway program allows customers to hold items for up to 90 days, giving them plenty of time to make payments. This extended hold time is especially helpful during the holiday season when customers are shopping for gifts.
4. No Credit Check
Walmart’s layaway program does not require a credit check, making it accessible to customers with poor credit or no credit history.
5. Protection for Purchases
Walmart’s layaway program offers protection for purchases, ensuring that items are held for customers until they have made all payments. This protection is especially helpful for high-demand items that may sell out quickly.
Overall, Walmart’s layaway program is a great option for customers who want to make purchases but cannot afford to pay for them upfront. With no interest charges, flexible payment options, an extended hold time, no credit check, and protection for purchases, Walmart’s layaway program is a convenient and affordable way to shop.
Limitations of Walmart’s Layaway
While Walmart’s layaway program was a popular option for many customers, it did have some limitations. Here are a few of the drawbacks of Walmart’s layaway program:
Limited Availability
Walmart’s layaway program was only available during certain times of the year, typically during the holiday season. This meant that customers who wanted to use the program outside of this time frame were out of luck. Additionally, not all Walmart stores offered the layaway program, so customers had to check with their local store to see if it was available.
Fees and Restrictions
Walmart’s layaway program had some fees and restrictions that customers needed to be aware of. For example, there was a fee to start a layaway account, and if customers cancelled their layaway order, they could be charged a cancellation fee. Additionally, there were restrictions on the types of items that could be put on layaway, such as electronics and clearance items.
Payment Schedule
Customers who used Walmart’s layaway program had to adhere to a strict payment schedule. If they missed a payment or failed to pay off their layaway order by the deadline, they could lose their items and any money they had already paid towards the layaway. This meant that customers had to be diligent in making their payments on time and in full.
Overall, while Walmart’s layaway program was a convenient option for many customers, it did have some limitations that customers needed to be aware of before using the program.
Frequently Asked Questions
Does Walmart offer online layaway?
As of September 2023, Walmart does not offer an online layaway program. However, shoppers can take advantage of the “buy now, pay later” payment option called Affirm. With Affirm, shoppers can make monthly payments on their purchases, but they will not be able to take the items home until they are fully paid off.
Can I use Affirm for layaway at Walmart?
Yes, Walmart offers the Affirm payment option for layaway purchases. Shoppers can apply for Affirm and select a payment plan ranging from 3 to 24 months. Once approved, shoppers can pick up their items in-store and scan the barcode on the Affirm app while checking out. Payments can then be made via the Affirm app.
Does Walmart offer buy now, pay later with no credit check?
No, Walmart does not offer a buy now, pay later option with no credit check. Shoppers who wish to use Affirm must apply and be approved for the service. Affirm does perform a credit check as part of the approval process.
Does Target have a layaway program?
As of September 2023, Target does not offer a layaway program. However, shoppers can take advantage of Target’s “buy now, pay later” payment option called Affirm. With Affirm, shoppers can make monthly payments on their purchases, but they will not be able to take the items home until they are fully paid off.
Where can I find layaway near me?
As of September 2023, Walmart is one of the few retailers that still offers a layaway program. Shoppers can check with their local Walmart store to see if the layaway program is available. However, shoppers can also take advantage of the “buy now, pay later” payment option called Affirm, which is available at many retailers.
When does Walmart’s 2023 layaway start?
As of September 2023, Walmart has not yet announced the start date for its 2023 layaway program. Typically, Walmart’s layaway program starts in late August or early September and runs through mid-December. Shoppers should check with their local Walmart store or the Walmart website for more information on the start date for the 2023 layaway program.