The prices at Walmart are good—sometimes, too good. Everybody has been in that situation where they go to Walmart for a routine run and inadvertently see a big-ticket item discounted $250 below the suggested retail price.
The deal is too good to pass up, but you don’t have the funds available to make the purchase right now. Because of this, you might be wondering if Walmart has a layaway program that will allow you to pay for the product little by little? Here is what I discovered!
Does Walmart Have Layaway In 2021?
Walmart does have a layaway program as of 2021, but it is only available during the holiday shopping season from late August through mid-December. Walmart Customers can hold items in layaway and pay for them during this four-month window.
Walmart used to have a year-round layaway program, but as of 2006, the program was discontinued and run only during the holiday shopping season.
For those shoppers who need to make payments on big-ticket items outside of the holidays, Walmart uses Affirm, an e-commerce loan provider, to offer financing options.
How Does Walmart’s Layaway Program Work?
Within the holiday layaway timeframe, customers can place a deposit on items that Walmart then holds for them in layaway while the customer pays them down via monthly payments.
Update: There have been several reports that some Walmart stores are currently not offering layaway for the 2021 holiday season. However, this does seem to vary from each store.
Also, it seems that when visiting the Walmart.com website for layaway, it redirects you to the Affirm financing page. It is recommended to contact your local Walmart to see if they will be offering the service this year.
A layaway is a preferable option to credit because it is interest-free, meaning that customers are only making payments on the item itself.
To secure an item via layaway at Walmart, the following conditions must be met:
- The buyer must submit a down payment of $10 or 10% of the purchase, whichever value is higher.
- Individual items must cost $10 or more, and the total of the layaway order must exceed $50.
- The buyer must make payments on the order during the holiday layaway season, on any register in a physical Walmart location, until the order is paid in full.
It is also important to note that there are no fees for placing a layaway order and that the order does not accrue interest.
Additionally, you can also sign up for email and text reminders to schedule payments or notify you of your remaining layaway balance.
What Items Can You Place on Layaway at Walmart?
Layaway is typically reserved for big-ticket items that are easier paid for in installments.
However, items in any of the following categories may be added to a layaway order, as long as they cost more than $10 each and are part of an order total greater than $50:
- Electronics (excluding service plans and all cell phones)
- Small appliances
- Large furniture
- Auto electronics
- Select sporting good items
- Infant toys
- Infant furniture
There is a chance that individual Walmart locations may have a more expansive or restrictive list, so it is a good idea to check with your local Walmart for more details.
Are There Restrictions on Walmart’s Layaway Program?
There are some restrictions on Walmart’s holiday layaway program and these include:
- Layaway is only available at physical stores, with walmart.com orders currently not eligible for layaway.
- Layaway payments must be made in-person at a physical register, with online payments not an option at this point.
- Any patron attempting to open a layaway account or make payments on a layaway account must be 18 years of age or older. This includes any secondary parties on the account, or anyone permitted to pick up a layaway order.
- There are no layaway orders available on November 26th, as all Walmart locations are closed in observance of Thanksgiving.
- Cell phones, cell phone service plans, food, alcohol, and spirits are all popular items not permitted for the layaway program.
What Happens if You Don’t Pay For Your Layaway Order At Walmart?
Suppose the layaway order is not paid for in full by the close of the special holiday layaway period.
In that case, the item(s) is returned to inventory, and the buyer will receive a refund of the amount paid toward the order, minus a fee. This also applies to orders that are canceled.
In most locations, the non-payment or cancellation fee is $10, with the following exceptions:
- Maryland, Rhode Island, Ohio, and Washington, D.C. locations do not assess a cancellation fee, with account holders receiving the entirety of their deposit and any subsequent payments.
- In Alabama, the cancellation fee will be 10% of the layaway order total but shall not exceed $25.
- In North Carolina, the cancellation fee will be 10% of the layaway order but shall not exceed $50.
Does Walmart Have Layaway Outside of the Holidays?
For the most part, there is no layaway available at Walmart during the first eight months of the year.
However, some locations will allow for the purchase of jewelry on layaway, so check at your nearest location if a jewelry purchase is on your radar.
Why Doesn’t Walmart Offer Layaway Year-Round?
Walmart did away with its year-round layaway program in 2006 due to too many customers not fulfilling their orders and using Walmart layaway as a means of saving or hiding cash.
People wanting to keep their liquid assets looking smaller than what they actually were could purchase an item on layaway, put hundreds or thousands of dollars toward the item, and when the funds were needed, cancel the order, with Walmart’s favorable refund policy working in their favor.
With items tied up in layaway, Walmart was losing out on sales to customers who were actually interested in making a purchase, causing Walmart to do away with layaway as online commerce started to expand and steal these impulse buys on which Walmart was missing out.
However, Walmart does offer layaway during the holiday season as an added layer of flexibility for families looking to purchase multiple big-ticket gifts.
Does Walmart Have Other Financing Options?
Outside of the holiday season, Walmart offers in-store financing through Affirm, an e-commerce loan provider.
Securing financing through Affirm requires the same type of credit check as when you apply for a new credit card or loan. Some of the key details of Affirm financing include:
- Eligible for purchases between $144 and $2,000
- Interest rates ranging between 10% and 30% APR depending on the applicant’s creditworthiness
- Options to pay over 3, 6, or 12 months
The following chart gives a breakdown of which items can and cannot be financed at Walmart through Affirm:
|Eligible Purchases||Ineligible Purchases|
|Video Games||Baby Consumables|
|Home||Groceries & Food|
|Arts & Crafts||Merchandise at the Register|
|Musical Instruments||Miscellaneous Supplies|
|Home Improvement||Money Services|
|Sports & Outdoors||Pet Supplies|
|Tools||Pharmacy, Health, and Wellness|
|Baby||Temporary Specialty Items|
|Apparel||Weapons, Ammunition, Air Guns, Gun Accessories, and Hunting Supplies|
|Wireless Service Plans|
Walmart is one of the world’s largest retailers, with a seemingly endless array of goods and services. As a result, it may seem plausible that Walmart would offer layaway—an interest-free means of placing a deposit on big-ticket items and making monthly payments until the item is paid off.
However, the only time Walmart offers layaway is during the holiday season, which runs from the end of August through mid-December. At all other times of the year, expensive orders must be financed through its loan partner Affirm, which offers terms similar to that of a credit card.