We all need to remember that not everyone has disposable income. Some people have had their credit card limits reduced or cancelled all together. Some people have lost their jobs, had their salaries reduced or had their hours cut back. For some, the only way they can provide Christmas for their children is through layaway.

Remember, with layaway they have to pay for the product in full before they can take it home….can you say “Pay as you go?”

We are in a financial crisis because the average consumer is saddled with debt. Financial institutions are collapsing because the average consumer could not actually shoulder that debt. You are advocating extending the exact same sort of credit instruments to unqualified buyers as the ones that caused this crisis. Have you been living under a rock?

If you can’t afford it, don’t buy it.

I don’t understand your logic about how this is bad for the consumer.

Of course you are paying someone without having the item, that is why it is a layaway. They are in turn taking the item off the shelf and holding it for you until it is paid for. They aren’t able to sell it to anyone else unless you never pay off the layaway and forfeit your payments.

Yes, you lose the choice of the new shinier model, but how long of a layaway are you talking about anyway? Unless you are putting a new Mac on layaway, I wouldn’t be too concerned about it being seriously outdated in the span of 6-12 months.

The best point you make is that if the company goes under, you are SOL.

You are paying someone on a lay-away deal; but you don’t have the actual item yet. If the retailer goes bankrupt you become just another creditor. You lose the choice of the better; newer item once that becomes available; instead you are “married” to the older inferior model that the retailer now can’t sell anymore either…

Although good for the retailer and although It might work for some people, don’t ever forget that it is a BAD deal for that consumer.

Hajo Smulders