r/allthequestions • u/MisterHEPennypacker • 1d ago
Random Question 💭 When is the last time you bought something on layaway? Is it still a thing?
I feel like once credit cards became ubiquitous layaway stopped being a thing. Does anyone still utilize it?
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u/OnlyGayModsCanBanMe 7h ago
In 2011, I had just graduated college and moved for my first big boy job. I bought a sofa on layaway.
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u/MrPotato4217 6h ago
Pawn shops generally have layaway. Good way to get some jewelry for a loved one.
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u/Special_Repeat7691 2h ago
Largely it has disappeared, due to the hassle and cost it created for retailers. Basically, it was not driving enough additional revenue to offset the increased costs for the store when there are other options readily available to consumers who need to pay over time. Credit cards and BNPL plans are much more convenient for everyone involved.
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u/Jafar_420 1d ago
Probably five or six years ago I put a rifle on layaway at Walmart they had that I just happened to notice and I didn't have the money at the time.
Before that it was probably another five or six years and it was a gaming console with some games at Walmart.
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u/PrudentIsopod6507 15h ago
Walmart was the only place I ever saw layaway in real life, and they killed it off a while back. Now it feels like those rent-to-own shops took over but with way worse terms and double the price. Credit cards definitely replaced the need for most people, but layaway had a charm because you weren't borrowing money, just waiting to afford it.
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u/Gh0st-Cvt 1d ago
Its essentially nonexistent and cresit cards and now BNPL killed any argument for it. Layaway was a hassle operationally, already limited real estate for what amounts to extra storage, staff time, inventory and plan abandonment. Credit cards were the first thing to kill layaway. Most stores had stopped doing it by 2007 and BNPL us thr final nail in the coffin.
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u/whitswhisper 1d ago
I feel like layaway was before my time tbh. My mom talks about it like it was a whole ordeal. I use klarna for everything now, its just easier. But I get why older ppl might miss the no interest part.
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u/PrestigiousFix3339 1d ago
I think lay away is a thing of the past, it takes a lot of room in stores and stores would rather give you a credit card with astronomical interest rates.
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u/Major_Tough_9739 1d ago edited 1d ago
- I was a college student and wanted a jacket that cost $100. (That was a lot of money back then!) I did work study for 10 hours a week at $3.35/hr which was minimum wage back then.
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u/thegrandgardener 1d ago
Same!! I had my boyfriends leather jacket on layaway. Wilson’s leather across the way from an Orange Julius.
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u/Valid-Struggler-81 1d ago
lol i know what you mean, credit cards kinda made layaway obsolete didnt they but yeah, some smaller shops might still do it if you ask nicely, worth a shot
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u/bjornartl 1d ago
It kinda still exists but in a slightly different format. Most chains/franchises will let you buy or reserve stuff online. And a lot of them will let it stay there for like a week or two essentially reserved until you pick it up. Some, but not all requires you to pay up front.
Thats the big change tho. It was always meant to be 'untill I can get to the store or return to the store with money', not 'untill I can earn money I currently don't have but people would ofc use it for that as well. Now there's credit cards and klarna and stuff like that so there's really no point for the stores to not just expect money up front. But they will still ensure your trip not to be in vain.
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u/bravenewchurl 1d ago
Never, but I can't even buy a flipping hamburger now without some stupid offfer from Klarna to finance it in 23 payments of 17 cents so it's definitely still a thing.
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u/MisterHEPennypacker 1d ago
Financing and layaway are separate though. With layaway they keep it while you pay it off.
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u/Gh0st-Cvt 1d ago
BNPL and layaway are inherently different. You dont get the item upfront with layaway.
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u/Choice-Newspaper3603 7h ago
Never