I asked you the very same thing(worded differently) about things you by on credit and make installments on. What's the difference in the two? Bigger ticket items is all as far as I can see. You have to have a deposit for big ticket items. With lost lay away, the items are returned new and unused. With cars and homes their value have depreciated...considerably
Direct deposit? You're assuming poor people have bank accounts.
Layaway shoppers put down a deposit and make payments but don't pick up the goods until they have paid in full.
Well hello, everybody knows that, except maybe someone who had to look that up on the internet to find out how lay aways work.
We're not going to ever agree on this subject. Hell, I don't use lay aways and I'm defending them. Why? Because many years ago we did. It was how we were able to afford new school clothes and supplies for 5 children. Not at wal marts. At Gibsons, I believe the name of the store was.
Wal warts can do away with lay aways, it's no skin off our noses, but, it will hurt the people wal marts is supposed to represent...the community.
But you get the use of the item IMMEDIATELY, *while still paying*. With layaway, the customer lets the merchant use his money free of charge for a while, then finally gets the use of the item later.
With lost lay away, the items are returned new and unused. With cars and homes their value have depreciated...considerably
And there's no refund on the money paid in, unlike with layaway. And there's also interest being charged for the loan they are giving you to use the item before it's paid off.
Well hello, everybody knows that, except maybe someone who had to look that up on the internet to find out how lay aways work.
You're the one who claimed it didn't work that way...in your post where you equated financing a car or house with putting them on layaway. I had to look something up on the Internet to teach YOU how it works, evidently, or were you just being disingenuous? (Look at my post #80, where I challenged you on this point: "Layaway plans allow you to take the merchandise away before its paid for?" and "I suspect few layaway plans operate the way you describe." Your response? "Then you're not familiar with the lay away plan as I suspected.")
Not only did you get that wrong, but you also claimed there was interest, whereas I provided counter-documentation to that.
I don't know what your game is, if you're anti-Wal-Mart, anti-poor, anti-American, or what...but while you encourage inefficiency, keeping poor people poor, inflating merchant costs, etc., I'll keep pointing out that the best way for poor people to stop being poor is to manage their money efficiently--and that's NOT the scam of "layaway!"