layaway plan

noun
a method of purchasing by which the purchaser reserves an article with a down payment and claims it only after paying the full balance.
Also called will-call.


Origin:
1970–75

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Unfortunately, there are some problems you can experience if your understanding of the layaway plan is not up to speed.
First, get all the details about the retailer's layaway plan in writing before you shop.
When retailers hold merchandise on a layaway plan at a customer's request, they are performing a service.
Unlike gift cards, the merchandise sold under a layaway plan is usually identifiable before the customer takes possession.
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