Layaway Is Back

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By Sade Malloy

Story Published: Oct 31, 2008 at 5:59 PM PDT

Yakima -- Layaway is back in stores and now on the web. People are going back to the old way of paying off purchases and a local man is cashing in on a new kind of layaway.

"Americans and the way they did business before has been through layaway, it's something I grew up with and just recently disappeared," said Josh Borden, www.laymeaway.com

Layaway might have disappeared but it's making a major come back, TJ Maxx and Kmart are just two big retailers reminding shoppers you don't have to pay in full to walk out with a full load.

Layaway has gotten so big one local company has even taken it to the web.

Josh Borden and his partner started www.laymeaway.com almost a year ago and business is booming thanks to our unstable economy.

"We had about 500 just jump on board in the past month," said Josh Borden, Laymeaway.com.

This is how the website works once you register and pick your products your monthly bill is based on the total cost divided by a 3, 6, 9 or 12 month plan.

If you buy a $300 Nintendo Wii video console and sign up for a
three month payment plan you'd pay $100 for three months.

"It's good because it gives you an option to get caught up on your bills and get your gifts at the same time," said Socorro Ramos.

Laymeaway.com doesn't actually lay your product aside right away your product is ordered when the bill is paid in full.

"When we get our final amount from the customer then we go to purchase the product from the retailer and we get a kickback from the retailer," said Josh Borden, www.laymeaway.com.

It doesn't cost you anything extra but with Josh as a middle man he can make up to 20 percent off your order.

Money experts say layaway is a good thing no matter what form because it can keep you away from running up your credit cards.

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