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What is Amazon Layaway? What are the benefits of Amazon Layaway?

2 mins read

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As part of its ongoing effort to improve its shopping experience, Amazon has recently introduced Amazon Layaway, a payment option that helps large buyers to purchase a range of products from the Amazon shopping site much more easily by selecting the “Reserve with Layaway” label. And this feature came just in time amid high inflation.

Note: Amazon Layaway is currently not available for orders shipping to CT, DC, IL, MD, OH, and PA. Also note that the Layaway program may not be available to all customers for a variety of reasons including the type or price of the product, product availability, or delivery address. (as Amazon describes on the Layaway FAQs page)

You can learn more about the Amazon Layaway payment program on the Amazon website which includes program features and FAQs if you need additional information about the Amazon Layaway program.

Also, start your 30-day free trial of Amazon Prime at no cost, after that, it will charge you $14.99/month or $139/year until you cancel, while students (actually Prime Student membership is free for the first 6 months, later $7.49/month) and eligible EBT/MediCaid recipients can get 50% off the Prime membership, also, they can try Amazon Prime for first 30 days at no cost.

However, Amazon Layaway doesn’t need an Amazon Prime membership, but if you have it, you will get Prime early access deals, exclusive benefits, free & fast delivery, and other perks such as Prime Video, Prime Music, Prime Reading, Prime Gaming, Amazon Photos, Prime Try before you buy (applicable on clothing), year of free Grubhub+ membership at no cost (read our article HERE how to activate free Grubhub+ deal), and more. So, give it a try Amazon Prime for the first 30 days at no cost.

Layaway makes perfect sense for Amazon since more and more customers are choosing to make purchases using installment plans, particularly through services like Afterpay, Affirm, or Klarna. Because you pay off the cost of the item in installments over the period of months rather than the total sum of the purchase the following month, it may make more financial sense for some people than using a credit card.

Since the Recession, layaway has been a popular way for purchasing Christmas presents, farm equipment, and other items, as noted by Kiplinger. Amazon’s own layaway program appears to target to focus on the trend toward installment payments while staying more true to the original layaway format. There is one difference from the current popular payment plans: rather than getting it now and paying for it later (as with Affirm, etc.), you pay for the item first and then get it.

You can currently buy on layaway through Amazon Layaway on a select number of items (you’ll see which ones are available properly marked) in categories like Home, Furniture, Electronics, and Gardening without paying a cancellation fee or interest.

Current shopping event on Amazon (as of Aug. 22, 2022): Shop for Back to School or Off to College.

Just a few examples. When you pay 20% in advance at the checkout, the price is locked in and your item is reserved in the warehouse. Then, you pay it off faster, and, yes, you’ll get it faster by making four equal payments over the course of two months.

The only drawback is that Amazon won’t modify prices if an item goes on sale; therefore, the price you locked in is still the amount you’ll pay.

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