What is the Difference between Rental and Layby?
The Pros and Cons of Services Explained
When you need something that you can’t afford right now, there are other ways you can secure the item and pay for it in more affordable chunks.
In this article, you’ll learn:
- What is layby
- How layby differs from rental
- Why layby at Laybyland
What is Layby?
Most of us have used layby in stores for something we want, maybe some toys for the kids for Christmas, or a laptop computer for work or study. However, the store’s layby terms can be a bit inflexible which can be frustrating and you have to make payments in person.
How Layby differs from Rental
Aside from layby, there is another avenue for making payments more manageable. You could rent the item you want. A rental agreement with a retailer is in effect like a consumer lease. You agree to make periodical payments for the laptop or appliances you want, with a start and end date to the agreement.
The beauty of this plan is that you can take the goods home with you right away but the downside is that when the agreement ends, you don’t own the item and either have to return it or pay a further sum to buy it.
When you look back over the rental period and add on the final cost of actually purchasing the item, you could be shocked to find that you may have paid a lot more than the original purchase price!
If you had used layby for the item, on the other hand, the price remains the original amount and you haven’t had to pay interest or large ongoing fees and a final payout at the end of the credit term. Another important advantage is that you don’t have a contract or obligation to meet.
Why Layby at 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 retail store will give you.
Give us a try, simply follow our sign-up link and become eligible for a $30 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.