If you want to buy something using the layaway plan from target you might want to ask the first question: whether target offers layaway payment or not? In this article, we will see about ‘Does Target have Layaway?’.
Does Target have Layaway?
Unfortunately, the answer to this question is No. As of now Target does not offer layaway payment to any of its stores across the country. The reason for this might be that all products at target are cost effective and one can buy them in one setting and does not require layaway according to target.
Target does offer a lot of other payment methods like apple pay, credit cards, debit cards, store credits and PayPal.
What is Target?
Most of you must be familiar with what target is for all those who are not familiar and hearing this for the first time let me introduce target to you.
Target is a store where you can get everything that you need and when we say everything, we mean everything: Right from groceries, clothing to electronics to everyday essentials. It is a one store where you can buy anything and everything. Target also offers great deals and discounts on its already affordable products. Target has more than 1800 stores across the country and it also has an online store where you can shop from the comfort of your home. They also offer store pick up where you can order online and then go to the store for pick up.
What payment methods does Target accept?
Target accepts various modes of payment. Here are some of the payment methods that you can use if you are planning to shop at target.
- Apple Pay: This is a contactless payment method designed for people with apple devices where instead of using cash or card your debit or credit cards are connected with your iPhone or apple watch so that you can easily pay anywhere just by using your apple device.
- Store Credit: Store Credit is given to a customer when they return a item to the store and instead of giving a refund amount to the customer the store gives them credit which they can later use to buy any other item of their choice.
- Target Gift Cards: Gift cards nowadays are becoming more and more popular. They are becoming a new way of giving someone what they like. Gift cards work as cash vouchers from the store where you can go and buy whatever you need and instead of cash you pay with the gift card that someone has gifted you as a present.
- Other popular means of payment include debit and credit cards 2which we have been using for years now.
What is Layaway?
We have been talking so much about layaway, but do we understand what layaway payment method is? How does it work? Let’s start by knowing what layaway payment is: Layaway is a payment plan that allows customers to put a deposit on an item to lay it away for future pickup.
In simple terms if you are a customer and you like a certain item but don’t have enough money to buy that item you ask the retailer to save that item for you by giving a deposit for the item and thus reserving that item for you. It is reserved for a certain period and after the customer makes the final payment it is given to the customer.
Layaway works for people who can’t afford credit cards now or have a bad credit.
How Does Layaway Work?
Layaway follows is a 4-step program:
Step 1: Select the item that you want to buy. Check whether the item is available for layaway or not. This is a crucial step because if the item is not available you will have to buy it without layaway using another payment method.
Step 2: Make the deposit to the retailer. The amount of money required
For reserving the item varies from store to store. Accordingly, deposit the required money to reserve your item.
Step 3: Deciding the layaway plan. According to the price of the item and the customer’s income the store may offer you a weekly, monthly, quarterly, or yearly plan. Customers must make the payment according to the plan and not miss a payment.
Step 4: Making the final payment and collecting the item. After the final payment is made the customer can take their item home with them.
Pros and Cons
The layaway method might be great, but it has some pros and cons:
Pros:
- Zero Interest: The customer does not have to pay any monthly interest on the item. This makes layaway a better choice than credit cards.
- No Criteria: To avail the layaway program you do not need to fulfil any type of criteria.
- Available online: You do not have to visit a store for layaway program you can get it online as well
Cons:
- Fees: Although layaway does not need any interest some retailers could charge you with some extra fees along with a deposit to reserve your item.
- Strict Payment: Customers need to stick to the plan and do the payments in time if they fail to do the payment the item as well as the deposit money will be lost.
- Not Available Every Time: Layaway payment is not necessarily available every time. There are certain items where layaway does not work.
Frequently Asked Questions
- Does Target accept PayPal?
Yes, Target does accept PayPal.
- Can we cancel a layaway item?
This depends on the terms of agreement that you signed. Sometimes if you cancel an item, you lose the deposit money as well.
- Do you need any income proof for layaway payment?
Yes, you need to show your income proof for the retailer to decide your layaway payment period.
