Web site offers layaway plans to shoppers

Web site offers layaway plans to shoppers

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Story Published: Nov 30, 2007 at 7:53 PM PDT

Story Updated: Nov 30, 2007 at 8:06 PM PDT

By KOMO Staff

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It used to be that nearly every retailer offered a layaway plan which allowed you to put something on hold, make payments, then pick it up after you've paid off the balance.

Most stores stopped doing that more than two decades ago, but now layaway is making a comeback, and this time online.

It's the same concept, only you do it on your computer.

For David Gardner of Everett, who spends a fair amount of time shopping online, it solved not just one problem, but two.

"I wouldn't say I'm a typical guy, but I'm pretty close to a typical guy and I do not like to go shopping," he says laughing, "I like to buy. I do not like to go shopping!"

About seven months ago, a friend told him about the Web site eLayaway.com.

The site features dozens of retail merchants, a wide range of products and a major marketing boost from former NFL star Deion Sanders, who makes an introductory pitch.

Like regular online shopping, you select a product. Where it differs is how you pay. With eLayaway, you decide how you want to work your payment plan, from the amount of payment to how often and how long you want to take to pay the full balance.

The payments are taken from your checking account based on your instructions.

"Before they even take any money out of your account, they send you a notice that says, 'OK, your account has been verified, we're going to be removing x amount of dollars out of your account," Gardner said.

Once your balance is paid in full, eLayaway pays the merchant and the merchant sends the goods.

"I picked up an iPod. You know, I think I paid in three payments, like $80 bucks. (it) came to me just the way it was supposed to," said Gardner.

This iPod is just one of several eLayaway buys.

"Right now I've got some Christmas stuff that's out there waiting to be paid off, but I can't really tell you what those are, the kids will probably be seeing this!" Gardner said.

Since its launch in August of 2006, eLayaway has been attracting customers and merchants in droves, currently boasting more than 3.5 million products.

For Gardner, it solves the shopping problem and his desire to pay over time to avoid the high interest of buying on credit.

Investor and co-owner Michael Bilello tells me the company is working on a deal that will bring several major brick-and-mortar retailers online as eLayaway merchants in 2008.

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