Uncle Fatlips

Exceeded your credit card limit? Do even have a credit card to have a limit?  Wanna get a furniture item but just can’t swing the full retail price up front? No problem. When it comes to shopping the Internet repeatedly proves itself to be your ever so clever best friend. Move over J Crew and Amazon—layaway is back! And not only is it back, you can lay it away all online. Now you can do your shopping on retail Web sites with layaway plans that specialize in just cookware to multi merchant department store type sites where you can layaway a whole array of goods.

Thanks to the sad shape of our economy layaway has quietly made its way back into the spotlight as an alternative way to make purchases without wreaking havoc on your wallet. Yea, it’s kinda ghetto. But so what? Does anyone really need to know you paid installments on that beautiful amoir in your living-room before it was shipped to your place? I think not.

Here’s a list of 5 great online retailers that specialize in affordable layaway plans for the budget minded:

Elayaway.com

Elayaway.com is big momma of all layaway Web sites. It operates kind of like a shopping search engine (think Shopzilla) and online shopping mart rolled up into one. The company has relationships with hundreds of online retailers and merchants featuring endless name-brand items from electronics and clothing to hardware goods and home furnishings.

How’s It Work?

Membership (it’s free) is required to make purchases. After that, you can shop til you drop with any of the retailers featured on the site. What’s cool about Elayaway is that you can set up your own monthly payment plan and you get to decide the amount of the payments and the date you’d like the payments to be made. There’s only one requirement: You have to have a checking account to be a member. To make payments on any items you’d like to purchase Elayaway automatically deducts your payment directly from your checking account. But if your checking account doesn’t cover the payment at the time of the deduction you’re popped with a $25 penalty.

Bottom line: if balancing your checkbook is a problem then shopping with Elayaway may not be the route you wanna go. The company also tacks on a 1.9% flat transaction fee -  $1.90 for every $100 you transact through eLayaway. But that’s it. After you’ve completed making all of your payments the purchase is immediately delivered to your home. And you’re debt free!

Here’s another great thing about shopping with Elayaway.com: Let’s say you decided to purchase the same item at a non-layaway online retailer where you’re going to pay full price up front with your handy Visa credit card . With Elayaway there are no interests fees associated with the purchase. It’s like paying with cash. So other than the company’s measly $1.50 transaction charge you actually end up with a better deal.

Laymeaway.com

Laymeaway.com also works with hundreds of merchants and online retailers selling name brand items and literally millions of products. You also have to sign up with the site before being able to take advantage of its layaway benefits. Payments are also monthly. But here’s where the two sites part ways: While Elayaway accepts payment by direct debit from your checking account, Laymeaway.com will only accept payment installments by snail mail. You can send in payments by money order or a personal check. They’ll also take payments via Paypal. Also there’s no transaction fee. Like Elayaway, you can customize your monthly payment plan. You also can stretch your payment plan out for as long as a year. But why do that? Pay off the total of what you owe within a reasonable time period so you can get your stuff.

EZ-layaway.com

EZ-layaway.com as well features a vast network of retailers and merchants. The company does not charge a transaction fee and accepts credit card and check debit card payments. They’ll also take money orders by mail and will accept fax orders. However both money order and fax payments require a 25% down for first payment. Also, unlike the previous two sites where you can set up the length of time it takes you to pay off your purchase as well as the amount of the payments, EZ-layaway makes you break up your payments into three parts only. Which means you need to pay off what you owe them in full within three payments before receiving your goods. Still, it’s a much better deal than paying for an item with a credit card. And three payments are easily manageable if you set up your budget prior to initiation of purchase on the site. Look at it this way: one-two-three payments—you’re done.

*Correction: EZ-layaway.com carries its own inventory. The company does not sell goods via a network of retailers and online merchants. All purchases are made directly from EZ-layaway.

Lay-away.com

I have to say Lay-away.com is my favorite just cause I dig the site’s sleek appearance. Like the others Lay-away.com offers an infinite array of products though the site carries mostly hi tech stuff like flat screen TVs and the latest Apple iPhone to serious appliances like combo washer/dryer sets. Customers are put on a 6-month payment plan for items and can make monthly payments online via a check/debit card. You can also mail in payments by check or money order. And you can make a minimum payment of just $10 to establish an order for an item. Shipping is included for most products and no transaction fees.

Cookwareon-line.com

Cookwareon-line.com recently debuted its layaway plan online via a partnership with Elayaway.com. Now you can make exclusive cookware purchases from a broad selection of quality name brands at the Cookware Online Web site. The retailer’s layaway program is actually processed through Elayaway so it works exactly the same with the $1.90 charge for every $100.00 you transact through the Cookware Online site.

Remember: Before conducting business with any retailer or service provider it is always important that you read their terms & conditions (the fine print). Each of the Web sites listed here also features a Frequently Asked Question (FAQ) section. So it would be a good idea to check out that information as well before you decide to make a purchase.

Uncle Fatlips wants to know about your experiences shopping with these sites. So please send your comments and feedback to Uncle Fatlips and share it with other Fatlippers.

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