Is Layby a Scam?
Lay-by - is it a credible and trustworthy service?
In this day and age, there is an abundance of flexible payment options when it comes to shopping. But how do we know if they are trustworthy? While payment options like Afterpay is on the rise, lay-by has been around for decades. The concept became common in 1930s during the Great Depression and has helped many families in budgeting their finances. So why is it still popular?
In this article, you’ll learn:
- What is layby
- Layby as a credible service
- Why layby with Laybyland
What is layby
Most of us are familiar with the terms layby or laybuy. Simply put, it is where a retailer and their customer agree that certain item/s are being purchased. The retailer agrees to hold the goods at a fixed price for the customer while they pay off the cost in small instalments, typically over 3-6 months. The seller does not charge interest and holds the goods until the customer has finished the payment plan but the customer may incur late payment or cancellation fees.
In Australia, layby was mostly common in department stores during the Christmas season. Parents would layby toys, electronic gadgets and more to ensure that they were ahead of the holiday rush. On top of that, it was an effective payment solution as parents were able to make purchases without alot of upfront money, a credit card and without interest.
Now, layby is not only available in-store but also online, making it easier for shoppers. Brands like My Layby, Chrisco and Laybyland have been offering online layby for years, while recently Big W have started offering it. As each department store offers varying flexibility, it would be good to find out more and figure out which is the best for your financial situation. Lucky for you, we’ve done our research! Learn more here.
Layby as a credible service
While some shoppers have reservations about layby, we’re here to assure you that it is 100% legitimate. Layby has served hundreds of thousands of Australians and are continuing to do so. This payment solution is the best for anyone who want to work their way to the next big purchase without going into debt, interest payments or have any credit checks or credit impacts.
With our no-interest layby, you can rest easy knowing that you will only pay the price of your order. We want to make it easy for you, so we offer flexible payment plans tailored to suit your lifestyle and budget.
- Customer Conscious
Layby at Laybyland is flexible and is customer conscious. You get to choose how much or how little you want to pay. Plus, you get to set the frequency of payments - from weekly, fortnightly or monthly. With flexible plans from 4-52 weeks, it is sure to suit customers’ budgets, whatever that may be. Laybyland also understands that from time to time, you may need to miss a payment for other reasons. Because of this, you are able to suspend your order until you are able to provide payments again.
- Future Price Guarantee
If you start a layby order today, and the price of that product is lower when you finish your payment plan, Laybyland provides you with a Future Price Guarantee Discount Voucher for the difference in price. If, however, the price is higher at the end of the plan than it was when you placed your order, you will still only be charged the initial lower price.
Why layby with Laybyland
Switched on shoppers are now turning to Laybyland to purchase items by layby online, on fair and easy terms, with free delivery and no extra fees.
Laybyland makes purchasing quick, painless and affordable, with payment terms that you select and flexibility that no other department stores will give you. As we stock over 50,000 products, you will be sure to find a product you love. From big electronics brands like Apple and Samsung to kitchen appliances like Smeg and KitchenAid.
Give us a try, simply use the code THANKLL50 for $50 discount off your first purchase. And remember, there are no contracts to worry about. For added convenience, you don’t even have to visit the store to make every payment, we simply take care of it for you by direct debit.
