Layaway
What Is Layaway? How does it work?
Pawn/Sell
Layaway works differently than shopping with credit cards or using installment billing plans. With layaway you make payments over time, but your purchases stay in the store until you finish paying for them.
While every store has their own rules, most layaway programs follow the same four basic process:
1. Choose Your Item
Come in to Spring Valley Pawn & Shop, select the item you want and we’ll hold it for you.
2. Put 20% Down
Put down 10% as a minimum, plus a small fee.
3. Make Payments
Make your scheduled payments. Choose from 3 or 4 months.
4. Pick Up Your Item
Pick up your item upon final payment.
Layaway Fees
The seemingly straightforward process has a myriad of complicated fees. While every store has a slightly different policy, stores charge some or all of these fees:
- Service Fee. The service fee covers the store’s cost of processing multiple payments and keeping the items off the shelves. The service fee are $6 for 2-months and $8 for 3-month layaway plans.
- Cancellation Fee. Most stores charge a cancellation fee if you decide to cancel your layaway plan, or if you cannot make all the payments by the due date.
- Restocking Fee. In some cases we will have a restocking fee if you do not make your payments on time, or do not finish paying for your products by the due date.
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