I’ve actually started to hear commercials for K-mart promoting layaway purchases again. I haven’t heard that term used in years and it had seemed to have drifted into extinction. Now, because the dreadful state the economy is in, layaway purchases are making a valiant comeback. For those who don’t know, layaway is when you put some money down on an item and the store holds onto it until you can make the rest of the payment. You could even make small payments for months and months at your leisure until it’s fully paid off if you want. You would have the product if you use a credit card, but you would also be paying interest on the charge. Layaway might have a small charge at the most.
If you want layaway as an option for purchasing your advertising services, then you might be looking for a while. Our payment system here has similarities. Though I’m not from the billing department I know that there is a percentage paid up front. You won’t actually have your product yet since it has to be built. Then when your web design, logo design, 3D animation, product photography, medical video, or whatever product you chose is ready, you will be billed for the remaining balance. It’s a little bit of a stretch, but I can see the similarities to layaway.
Personally, I just won’t buy something if I don’t have the money for it, so layaway isn’t for me, but it is a way to avoid getting into credit problems if you have that issue with credit cards.