When making a purchasing decision, buyers don’t always have the cash at hand to pay for it in full. However, an intending buyer may still get what they want when this occurs, thanks to the layaway option. Therefore, Shoppers sometimes wonder if Best Buy features layaways because of the store’s wide credit options. Let us know ‘Does Best Buy Have Layaway?’.
Does Best Buy Have Layaway?
Layaway financing is not available at Best Buy. Layaways are not an option for customers at Best Buy, but there are other ways to finance purchases, these include lease-to-own programs and Best Buy credit cards. Therefore, customers can still finance their partial or full credit purchases at Best Buy by choosing from the available facilities.
About Layaway
Layaway is a means of payment that allows you to purchase a product in installments without incurring interest charges. The retailer often keeps the product in return for a deposit and/or a little charge until the installment payments are completed. After the last installment, the product is yours to keep.
While layaway plans may vary, most adhere to the same basic framework. Generally, layaway works as follows:
Step 1: Select the product(s) you desire. Electronics, furniture, and jewelry are just a few examples of the types of sections that may not be eligible for layaway at some retailers.
Step 2: Pay the agreed deposit and service charge. Some stores have a set minimum deposit percentage, while others let you make a down payment at will.
Step 3: Pay what you can afford at regular intervals Depending on the store, layaway plans may last anywhere from a few weeks to many months. You may be able to pay, monthly, bimonthly, or weekly installments, depending on the program and other considerations like the product’s pricing. Most shops have a one-year maximum on layaway payments.
Step 4: Take It Home After making your last layaway payment, you will be able to pick up your product from the shop and take it home.
Best Buy Financing Options
Though Best Buy does not permit the use of layaway during the purchase of things, they do provide other credit alternatives to its consumers.
Best Buy has leasing as an alternative to Layaway and buyers may use the Best Buy credit card to buy what they want.
With the Progressive lease, you may spread out your payments for up to 12 months.
After your Progressive Leasing contract, you will have full ownership of the leased product.
The Best Buy Credit Card is another way to finance your own purchases, as it allows you to make payments over time rather than all at once.
Once an application is granted, customers at Best Buy can use credit cards and the lease-to-own option.
Best Buy No-Credit Financing
Best Buy does not provide layaways, but its Progressive Leasing program allows consumers with poor or no credit history to make payments on products. The process goes thus:
- To use Best Buy’s Progressive Leasing service, you must first submit an application.
- Applicants should expect to hear back from Best Buy immediately, regardless of their application’s status.
- Applicants must be above the age of 18, have a valid checking account, and have a routing number to be considered.
- After being accepted, the consumer will be locked into a regular 12-month agreement with a low periodic payment option.
If you lease a product from Best Buy and pay up within 90 days, or if you buy out of your lease early, you’ll be eligible for Progressive Leasing benefits.
Retail Outlets That Offer Layaway
1. Amazon
When it comes to furniture, electronics, home products, and more, Amazon is now one of the newest merchants to offer financing options.
Items purchased using Amazon’s layaway service cannot be transported to the states of Connecticut, District of Columbia, Illinois, Ohio, Maryland, or Pennsylvania.
2. Army & Air Force Exchange Service (AAFES)
AAFES is a global chain of military surplus stores. AAFES is a retail and online retailer that sells name-brand clothing, household goods, and other products at cheap prices. Customers who buy at AAFES stores can use layaway for purchases of $25 or more.
3. Buckle
When looking for jeans, many people turn to Buckle. Buckle locations in 42 states around the US provide layaway, where they will keep your stuff until it is paid in full; but, if you need your gear immediately, they also feature Afterpay.
4. Conn’s HomePlus
You don’t have to look any further than Local Conn’s to find the electronics, exercise equipment, and beds you need. The iPad, Mac computers, and Nintendo Switch, among other products, are not eligible for layaway at Conn’s.
All of Conn’s stores, except the ones in Louisiana, have layaway.
5. Big Lots
Big Lots is a massive retail business that sells a wide variety of products, including electronics, toys, furniture, and even groceries. Both “Price Hold” and Progressive Leasing are available for furniture, beds, grills, and outdoor equipment purchases at Big Lot’s retail outlets.
6. Burlington Stores
Burlington Stores, previously named Burlington Coat Factory, sells not just coats but also clothing for men and women, and accessories, housewares, and toiletries. There are Burlington Coat Factory stores that provide layaway all through the year.
Conclusion
No product layaway service is available at Best Buy. Instead, the shop provides supplementary financing options for shoppers to use when buying delivery things.
Best Buy encourages the usage of credit cards or rent-to-own programs. Therefore, Customers may make purchases without worrying about spending their immediate cash. The adaptability of these many forms of funding allows for individualized bonuses that boost savings.
FAQs
Did Best Buy Ever Offer Layaway?
Despite featuring many financing options, Best Buy never featured Layaway as an option.
Does Best Buy Support Afterpay as a Finance option?
Afterpay isn’t an option for payment while shopping at Best Buy.
