Free Layaway at Sears

Sears and Kmart just became the latest stores to drop layaway fees.

Free Layaway at Sears Photo (cc) by daysofthundr46

USA Today reports Kmart and Sears have completely dropped layaway fees. Toys R Us announced earlier in the week that it also would, and Walmart just dropped its fee from $15 to $5.

Layaway policies allow shoppers to reserve an item they want to purchase and make payments on it. Since there are no interest charges – and service fees are now being dropped – it’s becoming a more common alternative to buying with a credit card or using a rent-to-own service.

But there are downsides: Missed payments could cost you the item and your money, and you may not be able to get sale prices. So read the policy carefully before choosing the layaway option.

Brandon Ballenger
Brandon Ballenger @btballenger
I'm a 27-year-old freelance journalist living in South Florida. If I'm not writing, I'm playing video games or at the beach. My favorite spice is oregano, and I thought you should know. ... More

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