Now Prime Members Can Get Any Amazon Product With Just 20% Money Down

Tech Reviewed

Purchases you make through our links may earn us a commission.
Passionate Penny Pincher

Amazon Layaway: A New Perk of Amazon Prime

One of the oldest holiday shopping ploys in retail, dating back to the Great Depression, is reserve now, pay later. Amazon is now bringing it back year-round.

You'll understand Amazon's newest benefit for Amazon Prime: Amazon Layaway, if you're old enough to have parents who used it (or did it yourself).

Here's what you need to know about the retailer's new payment option.

On thousands of Amazon Layaway items, including furniture, home entertainment systems, computers and laptops, cameras and camera accessories, sports and fitness equipment, tools for the yard and garden, electronics, musical instruments, and more, the giant retailer announced payment plans.

No interest, no restocking fees, no credit check, etc. Here is what you need to know about the payment plan before you begin.

You can now purchase items on layaway at Amazon.

How Does Amazon’s Layaway Plan Work?

There is no credit check, no interest is charged, and there are no cancellation costs, according to Amazon, which claims to have thousands of carefully chosen items available for Amazon Layaway. Items have a button that says "Reserve with Layaway" plainly marked on them.

Customers that use layaway pay 20% of the item's total cost at the time of purchase. After then, the item is reserved and the price is fixed.

The fee will be divided into five equal installments over the course of eight weeks.

Making equal payments every two weeks for up to eight weeks will be the next stage before the item or goods are fully paid for. Faster delivery equates to a faster payout.

Not every product that Amazon sells can be put on layaway. If you want the things to arrive in time for the holidays in December, Amazon advises placing your order by October 23.

Standard shipping costs will be applied to the final payment, however, Prime Members can get free shipping with Amazon Layaway on eligible items. If you’re not a Prime Member, click here to launch your free 30-day trial.

But is layaway a good method to save money?

Although some retailers have in the past charged tiny "layaway fees" to store the things, layaway services normally don't charge interest and aren't regarded as a kind of debt (thus, no need for a credit check).

How To Cancel Your Layaway Plan?

Amazon will return all amounts paid if you need to cancel the plan or do not finish the installments. You won't be allowed to open new payment plans while a previous one is past due if a payment is rejected.

Click here for details on Amazon Layaway.

Comments / 0

Published by

Inquiry: | Here You Will Get All The Major Tech Revolutions Taking Place every day. The latest tech news about the world's best (and sometimes worst) hardware, apps, and much more. From top companies like Google and Apple to tiny startups.

New York, NY

More from Tech Reviewed

Comments / 0