Ever seen a piece of beautiful jewelry you’ll love to own but can’t afford? Yes, it happens even to the best of us. Well, there’s a solution – Layaway plans. They help you acquire the jewelry of your dreams irrespective of your finances. Know more about Jewelry Stores With Layaway Plan.
Jewelry stores now offer Layaway plans, which allow customers to make payments for items a little at a time. They allow you to make payments for products such as necklaces without having the full payment. Examples of such stores are Day’s Jewelers and Reed Jewelers.
Layaway Plan
A layaway plan is a means where customers deposit items for pick up. The item is collected after the balance is completed. There are no interest plans and it is accessible to anyone.
Working of Layaway Plan
Layaway history originates from the great depression. However, it became a deficit in the 1980s with the inception of the credit card. In the 2000s, during the Great Recession, the Layaway plans appeared again.
Layaway Plan takes the following measures:
First, the customer selects their item of choice. The items must be on the list of products that can be purchased using Layaway plans. Chosen items are given to the Layaway service department in the store.
The next step is getting the item authorized. Authorization is the duty of Layaway officers. A certain percentage of the complete money is deposited as a down payment. You may be asked to choose a reasonable amount to pay.
Layaway determines how the remaining amount will be paid. Payment is dependent on the item’s price and the custom’s income. The payment can be on a weekly, monthly, or bi-monthly basis.
Finally, customers can pick up their items on payment has been completed. Sometimes, Layaway costs are required of customers which are paid during the payment period. In essence, the layaway price is included in the amounts to be paid off.
Jewelry Stores That offer Layaway Plans
Are you in search of a jewelry store that offers Layaway plans? Here is a list to guide you.
Day’s Jewelers
Day’s Jewelers offers both offline and online Layaway plans. Customers are expected to make a 10% down payment, but the number of times is dependent on the customer. However, at each payment, you are to pay at least 10%. Day’s Jewelers keeps 20% of the deposit if the plan is stopped after 30 days.
Reeds Jewelers
Reeds Jewelers give only in-store plans. The cancellation plan varies by the location of the store. A down payment of 10% or $25 for anyone greater is required. The condition is that all payments must be cleared within six months.
Super Jeweler
Super Jeweller offers an online layaway plan. Just like other stores above, a 10% down payment is required. You are to make equal monthly payments that ought to be cleared in 24 months.
My Trio Rings
My Trio Rings allows you to choose your downtime payment- 10%, 25%, or 50%. You are to complete the payment in six months. Trio Rings only offer online Layaway plans and a 25% cancellation fee is held as store credit.
Kmart
Kmart offers both online and offline Layaway plans. It is limited to certain jewelry items. A $10 down payment is required. In online layaway, you are to make payments every two weeks and complete it in 8 weeks. The offline layaway requires payment to be completed in a timeframe of eight to twelve weeks.
If you wish to cancel the plan, payment is dependent on the number of weeks. An eight-week plan gives $5 and $10 service and cancellation free while a 12-week Layaway offers a $10 and $20 service and cancellation fee.
Totaram Jewelry
Only online layaway plans are allowed and a 20% downtime payment. Your subsequent payments are up to you to determine the number of times but must be cleared in four months. A downside to this payment is that it can’t be canceled.
Kay Jewelers
Kay Jewelers only offer in-store Layaway plans. Down payment alt by the purchase amount. Your number of payments is up to you, but payment must be made every month. However, you are to clear the payments within six months.
Since 1910
Since 1910 has only online Layaway plans. A 25% down payment is required, but the 25% must be up to $1000. Your number of payments is up to you but must complete in six months.
Some other jewelry stores that offer Layaway plans are Serendipity Diamonds, Michael Hill, Helzberg Diamonds, The Jewellery exchange, Jared the Galleria of Jewelry, and many other stores.
Conclusion
Whenever you see a piece of jewelry you like, there’s no need to worry about affording it anymore. Layaway plans now offer you the privilege of owning their jewelry with little down payments and allow you to complete it later. A different slide to this plan is that you may choose to cancel en route. A cancellation fee is then demanded from you.
Altogether, the Layaway plan is beneficial to people of all classes.
Frequently Asked Questions
- When will I receive the jewelry?
The jewelry is given after the completion of payment.
- Do Layaway charge interest?
Layaway plans do not charge interest on payment.
- What are the cons of using Layaway plans?
A disadvantage of Layaway is the cancellation fees. They are liable to cost more than the original payment.
- Can I pay off a Layaway plan early?
Yes, it is possible. You can pay off your plans earlier than stipulated.
