Why Won't Kmart, And Sears Let You Put A HDTV On Layaway?

Chamillitary · 10-29-2009, 11:22 PM

Quote:

Originally Posted by DIRECTVMAN

Maybe SEARS and KMART doesn't want to have a bunch of merchandise stored in a room somewhere taking up space waiting for someone to pay for it.

If I was a company with lots of inventory .... that would be my exact thoughts. I want to move inventory, not have it sit there collecting dust waiting for somebody to slowly pay it off.

daleb · 10-30-2009, 10:38 AM

Quote:

Originally Posted by DIRECTVMAN

Really ?

I was afraid that Blue Hippo deal sounded to good to be true.

They found a formula for helping people and exploiting them at the same time. But it caught up with them eventually.

http://www.consumeraffairs.com/news0...lue_hippo.html

Rick-F · 10-30-2009, 11:26 AM

Quote:

Originally Posted by daleb

They found a formula for helping people and exploiting them at the same time. But it caught up with them eventually.

http://www.consumeraffairs.com/news0...lue_hippo.html

I think you worded your post poorly. Do you really think these people ever honestly thought a purpose of the company was "helping people"?

daleb · 10-30-2009, 12:09 PM

Quote:

Originally Posted by Rick-F

I think you worded your post poorly. Do you really think these people ever honestly thought a purpose of the company was "helping people"?

Why was it poorly worded? Because it is an opinion different than yours?
Most definitely, I do think there were some naive enough to believe just that. I've seen people for fall for obvious scams with the notion that a seller has their best interest in heart. In fact, I think it happens on a regular basis.

IGExpandingPan · 10-30-2009, 03:40 PM

Quote:

Originally Posted by Chamillitary

If I was a company with lots of inventory .... that would be my exact thoughts. I want to move inventory, not have it sit there collecting dust waiting for somebody to slowly pay it off.

Layaway makes less sense in the 21st century for high tech goods since new models are released yearly, and anything high tech experiences depreciation quickly. It makes more economic sense to save your pennies and buy the whole shebang at once.

For other items like jewelery, clothing, or things long those lines layway makes a fair amount of sense since the value of the goods is reasonably stable.

DIRECTVMAN · 11-01-2009, 12:50 AM

Quote:

Originally Posted by daleb

Why was it poorly worded? Because it is an opinion different than yours?
Most definitely, I do think there were some naive enough to believe just that. I've seen people for fall for obvious scams with the notion that a seller has their best interest in heart. In fact, I think it happens on a regular basis.

The people offering something that sounds to good to be true usually is.

Even when I buy something at KOHLS and they say - "Do you want to save 15%(or whatever % savings it is) on this purchase by applying for a KOHLS charge card ?" I usually say - No, the credit card interest is 22%-24%.

They want you to sign up for a credit card, start using it a lot so they can charge you the interest charges. They usually have an annual fee they can charge you. I really doubt they say - Let's do something nice for someone that signs up for a new KOHLS credit card !! They're in it to make themselves some more money.

SMT · 11-01-2009, 10:05 PM

Quote:

Originally Posted by DIRECTVMAN

The latest Best Buy financing is 3 years 0% interest. Why would you want to put an HDTV on layaway someplace if you could get it from Best Buy and be watching the TV the same day ?

why would you want to worry about monthly payments on a TV and be in debt over it? No interest is just a gimmick to get you in and whoa look at that only $15 min. monthly payment too. Woo Hoo.

You finance cars, houses not TV's.

What if you lose your job or some crazy thing happens, you would be on the hook trying to make monthly payments for a TV

I think someone doing a layaway is actually showing more financial responsiblility.

sawzalot · 11-02-2009, 03:35 PM

I think the best possible use for layaway would be to families with 2.5 plus children and they want a safe place to store toys and clothes for christmas gifts , why bring them home and hide them when K mart sears and toys r us will hide em for ya.It also lets the little mother feel as though she is being very savvy with her spending and balancing of daddies money,I see it that way around these parts. From a personal standpoint I only have one so layaway was not really needed by me however I know a few families that relied on it every holiday season.

daleb · 11-02-2009, 05:37 PM

Quote:

Originally Posted by sawzalot

I think the best possible use for layaway would be to families with 2.5 plus children and they want a safe place to store toys and clothes for christmas gifts , why bring them home and hide them when K mart sears and toys r us will hide em for ya.It also lets the little mother feel as though she is being very savvy with her spending and balancing of daddies money,I see it that way around these parts. From a personal standpoint I only have one so layaway was not really needed by me however I know a few families that relied on it every holiday season.

Interesting approach. Another thing kids catch on to, is how their parents handle money. Setting good role models covers a lot of things.

crazyal · 11-02-2009, 05:41 PM

Personally I have no clue why you would want to use layaway for an electronic purchase. Just go to your bank, open up a second account and put the money in there. It would be very rare that any electronic purchase would be more expensive when you had the money to buy, most likely it will be cheaper. Secondly once you have cash in hand you could buy from any store not just the one who'll do a layaway, also would give you a better chance to get a better price.

The store may not want to do it because they are holding onto something that could be outdated before it's paid off. They could actually loose money because of that even though it was partially paid for. Finally what happens if it's damaged while waiting to be paid off? It's easy to protect a shirt or something but electronics require more attention and care.

**PFC5** · 11-02-2009, 06:25 PM

Quote:

Originally Posted by crazyal

Personally I have no clue why you would want to use layaway for an electronic purchase. Just go to your bank, open up a second account and put the money in there. It would be very rare that any electronic purchase would be more expensive when you had the money to buy, most likely it will be cheaper. Secondly once you have cash in hand you could buy from any store not just the one who'll do a layaway, also would give you a better chance to get a better price.

The store may not want to do it because they are holding onto something that could be outdated before it's paid off. They could actually loose money because of that even though it was partially paid for. Finally what happens if it's damaged while waiting to be paid off? It's easy to protect a shirt or something but electronics require more attention and care.

Some good points along with sawzalot's about it being a good present hiding place also. I have never done layaway myself, but it sounds good at Christams time for some people. I have plenty of places in my house to hide them though.

DIRECTVMAN · 11-02-2009, 07:35 PM

Quote:

Originally Posted by SMT

why would you want to worry about monthly payments on a TV and be in debt over it? No interest is just a gimmick to get you in and whoa look at that only $15 min. monthly payment too. Woo Hoo.

You finance cars, houses not TV's.

What if you lose your job or some crazy thing happens, you would be on the hook trying to make monthly payments for a TV

I think someone doing a layaway is actually showing more financial responsiblility.

If a person buys a new $1500 TV and decides to finance it for 3 years, the interest free monthly payment is only $42 or so if they want to pay it off within 3 years. Most pay it off sooner. Woo Hoo.

YOU finance cars, houses, not TVs, a lot of people finance cars, houses, TV's, computers, etc.. it's a great way to build up your credit rating.

If you lose your job or something crazy happens the monthly TV payment in my example would only be $42, most people can still handle that, most people would pay off the TV early so it would most likely be paid off already.

GymBrat98 · 11-03-2009, 05:07 PM

Quote:

Originally Posted by daleb

Interesting approach. Another thing kids catch on to, is how their parents handle money. Setting good role models covers a lot of things.

This is so true Daleb. That's why CC companies prey on college students. If the parents talk to their kids about financial responsibility, the kids won't fall for the CC companies as much, imo.

I read that Kmart, and Sears let you put something on layaway for 2 months.

IGExpandingPan · 11-03-2009, 05:44 PM

Quote:

Originally Posted by DIRECTVMAN

Really ?

I was afraid that Blue Hippo deal sounded to good to be true.

Too good to be true?

Blue Hippo, even presuming that they were on the level, offered sub $700 machines for $2000+. It's not something "i'd" consider to be good at all.

Even when Future Shop operated in the states people with lame credit could actually get a base PC so long as they were willing to plop down at least $100 or so. I had a friend who was in peacecorps who made, squat, with a broken credit card because he started using it again after 4 years.

GymBrat98 · 11-04-2009, 05:59 PM

Quote:

Originally Posted by IGExpandingPan

Too good to be true?

Blue Hippo, even presuming that they were on the level, offered sub $700 machines for $2000+. It's not something "i'd" consider to be good at all.

Even when Future Shop operated in the states people with lame credit could actually get a base PC so long as they were willing to plop down at least $100 or so. I had a friend who was in peacecorps who made, squat, with a broken credit card because he started using it again after 4 years.

Hey IGE, how long ago was this company in business? Seems like that business model would make lots of paper in this economy, yes? BTW, I saw a 50' Plasma, Sanyo for 768 bucks at Walmart today!

11-02-2009, 05:41 PM	#25
crazyal Smarter than the ave bear Join Date: Jan 2005 Posts: 3,314	Personally I have no clue why you would want to use layaway for an electronic purchase. Just go to your bank, open up a second account and put the money in there. It would be very rare that any electronic purchase would be more expensive when you had the money to buy, most likely it will be cheaper. Secondly once you have cash in hand you could buy from any store not just the one who'll do a layaway, also would give you a better chance to get a better price. The store may not want to do it because they are holding onto something that could be outdated before it's paid off. They could actually loose money because of that even though it was partially paid for. Finally what happens if it's damaged while waiting to be paid off? It's easy to protect a shirt or something but electronics require more attention and care. __________________ Please don't feed the Unicorns

11-02-2009, 03:35 PM	#23
sawzalot HDTV Football=Euphoria Join Date: Dec 2007 Location: Cape May,N J Posts: 524	I think the best possible use for layaway would be to families with 2.5 plus children and they want a safe place to store toys and clothes for christmas gifts , why bring them home and hide them when K mart sears and toys r us will hide em for ya.It also lets the little mother feel as though she is being very savvy with her spending and balancing of daddies money,I see it that way around these parts. From a personal standpoint I only have one so layaway was not really needed by me however I know a few families that relied on it every holiday season.