The modern version of the old "layaway" plans is Paypal's "pay in 4" plan. The difference is that with the old layaway plans you didn't get the thing you bought until you paid in full. It was a way to buy a big ticket item without having to pay interest and you could back out of the purchase (there might have been some penalty) and get some of your money back. I think with Paypal's "pay in 4" plan, you get the thing you bought right away and can make the 4 payments interest free, but if you don't make the 4 payments (or pay in full before the 4th payment is due) you get charged interest until you pay in full.Might be offtopic here but is that a real thing? Why would someone do that?It’s like buying a $400 couch on layaway decades ago. You bring in $100 every other Friday and once you bring in the 4th $100 payment you get to take the couch home. The furniture store doesn’t give you interest.
Statistics: Posted by LittleMaggieMae — Tue Nov 18, 2025 10:50 pm — Replies 39 — Views 1965