How Do You Define Layaway?

  • Definition of Layaway: Layway shopping is a way for customers to leave a security deposit on something they can afford to pay later when they can afford to pay the balance. Layway allows customers to pay less for a purchase. The LIVA plan guarantees that customers will receive the selected item as soon as payment is made in full.

    • The term Leiva refers to a retail purchase method in which consumers collect funds to apply for billing later when they have funds to pay the entire balance.
    • Liaison programs are usually targeted at low-income buyers who may find it difficult to pay for their purchases at once.
    • Lending programs, established during the Great Depression of the 1930s, declined in the 1980s as the popularity of credit cards reduced their usefulness.

  • Meaning of Layaway: Often called LeBy. One way to buy something is to deposit a small amount to order it and then pay the rest in installments. After full payment of the purchase price, the customer can receive the goods.

Meanings of Layaway

  1. Submit a system to secure an item for item purchases.

Sentences of Layaway

  1. He took the coat he had taken apart