lay
a
way
Plural
layaways
1
a purchasing contract by which a retailer agrees to hold merchandise secured by a deposit until the price is paid in full by the customer
- The furniture store offers a layaway plan, allowing customers to reserve a sofa or bed and pay for it gradually over several months.
- With the holiday season approaching, the toy store promotes its layaway program, enabling customers to spread out the cost of expensive gifts for their children.
- The electronics retailer allows customers to put a new smartphone on layaway, making it more affordable for those on a tight budget.
- The jewelry store offers layaway for engagement rings, helping couples finance the purchase of a ring without having to pay for it all upfront.
- Many consumers prefer layaway for big-ticket items like appliances or electronics, as it allows them to avoid high-interest credit card debt and manage their finances responsibly.