Walmart Is No Longer Offering Layaway and People Are Upset

Well, it’s happening… Walmart is no longer offering Layaway.

If you find this news upsetting, you are not alone. People all over social media are expressing their upset that this famous program is going away.

People are quick to note that this is really hurting those that are poor and rely on programs like these to be able to afford holiday presents.

Now, you should know that Walmart is replacing the Layaway program but it comes with a hefty price…

Walmart will be switching to a buy now, pay later plan in partnership with Affirm.

The company says this alternative to layaway allows you to purchase products immediately and pay over time. 

“We’ve learned a lot in the past year as our customers’ needs and shopping habits have changed,” a representative for the store said in a statement. “Last holiday season, we removed seasonal layaway from most of our stores with the exception of select jewelry items at select stores, and based on what we learned, we are confident that our payment options provide the right solutions for our customers.”

Walmart

The previous layaway plan would allow shoppers to have items held with a $10 or 10% down payment and make payments over time up until a specific date right before Christmas. The balance would be paid in full and then customers can get their items.

Under the new plan, customers would have to qualify for Affirm using their credit, pay at Walmart using Affirm then make payments to Affirm. They would receive their items right away. However, they’d be paying interest. The APR rate will be between 10% and 30%, depending on your credit, and will show up when you check out with Affirm.

Oh and the Affirm route only allows items to be purchased in certain categories including:

• Electronics
• Video Games
• Toys
• Home
• Arts & Crafts
• Musical Instruments
• Home Improvement
• Auto
• Sports & Outdoors
• Tools
• Baby
• Jewelry
• Apparel

Anything outside of those categories is excluded.

So, in the end, if you end up wanting to shop for the holidays and don’t have cash to use, you’ll end up paying extra for the holiday items this year at Walmart. That is, if you can qualify to make payments through Affirm.

So, what do you think? Is this a bad move?