TALLAHASSEE, Fla. (WTXL) — Walmart won’t offer its traditional seasonal layaway program this year.
The program was available from late August through mid-December. Customers could place items on hold with a small amount and then make regular interest-free payments to the total until it is fully paid off. Customers could then collect their purchases at their local Walmart after the loan was paid off.
Walmart now allows customers to use Affirm for select products. This is a by-now pay-later program.
According to Walmart.com, Affirm offers 10% to 30% APR on a wide variety of product categories, including electronics, video games, toys, home, arts & crafts, musical instruments, home improvement, auto, sports & outdoors, tools, baby, jewelry and apparel.
Walmart.com will offer promotional items at 0% APR.
For purchases between $144 and $799.99, the loan repayment terms are three to one year. Purchases between $800 and $22,000 have a maximum of 1 to 2 years. Affirm, according to Walmart’s website does not charge any late fees. Prepayment fees, hidden fees, annual fees, or service fees.