Shopping for gifts, electronics, or seasonal items can get expensive quickly, especially during the holidays. Traditionally, Walmart’s layaway program helped ease the financial strain by allowing customers to hold items while making payments over time. But does Walmart still offer layaway, or have they replaced it with a more modern alternative? Let’s explore Walmart’s current offerings that let you shop now and pay later.
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What Happened to Walmart’s Traditional Layaway Program?
For years, Walmart’s in-store layaway was a go-to solution for budget-conscious shoppers — particularly helpful around the back-to-school and holiday shopping seasons. Customers could set aside items, pay gradually, then take the items home once fully paid off. But in 2021, Walmart officially discontinued its traditional layaway program.
Instead of offering the old layaway plan, Walmart has shifted toward newer buy now, pay later (BNPL) services that cater to today’s digital shoppers.
Walmart’s New Alternative: Buy Now, Pay Later with Affirm
Rather than a layaway model that requires paying off an item before bringing it home, Walmart now partners with Affirm to offer a financing option that allows customers to receive products immediately and pay over time.
Here’s how Affirm at Walmart works:
- Available for purchases between $144 and $2,000
- Customers can choose 3, 6, or 12-month payment plans
- Interest rates range from 0% to 30% APR depending on creditworthiness
- No late fees or hidden charges
Affirm is available both online and in-store. During checkout, eligible customers can select Affirm as their payment method and receive an instant decision. If approved, they can spread out their payments and immediately take home or receive their items.
Is There Still Any Form of Layaway?
Though Walmart no longer offers general layaway, they occasionally bring it back for specific events or high sales seasons. For example, in some holiday seasons, select stores might offer limited-time layaway options for eligible items, like toys and electronics. However, these instances are not guaranteed or widely advertised.
To be certain, check with your local Walmart or keep an eye on Walmart’s website for seasonal offerings.
What Items Are Eligible Under the New BNPL Program?
Affirm at Walmart is available for a wide range of purchases, including:
- Electronics (TVs, laptops, gaming consoles)
- Home appliances
- Furniture
- Tools and equipment
- Outdoor and sporting goods
Note that groceries, pharmacy items, alcohol, and tobacco are not eligible for financing through Affirm. It’s best to review each item’s eligibility within your digital or in-store checkout process.
Pros and Cons of Walmart’s Current BNPL Option
While the Affirm option offers flexibility, it has its own set of advantages and disadvantages compared to traditional layaway.
Pros:
- Receive items instantly – no need to wait until full payment
- Flexible payment plans with fixed monthly payments
- No hidden late fees or service charges
Cons:
- Not available for all products or small purchases
- Interest charges can apply depending on your credit
- No ability to reserve products without a credit check
Who Qualifies for Affirm Financing at Walmart?
Affirm conducts a soft credit check, which won’t affect your credit score. Approval depends on your credit history and other financial factors. This makes it a potentially accessible option for many shoppers, though those with lower credit scores may receive higher interest rates or be denied.
Final Thoughts: Is Walmart’s New System A Good Replacement?
Although traditionalists may miss Walmart’s old layaway program, its new partnership with Affirm reflects changing consumer preferences for speed, flexibility, and digital access. Being able to take home your purchase immediately is certainly a big plus, and the transparency in Affirm’s payment plans offers peace of mind — something traditional layaway sometimes lacked.
Whether you’re planning ahead for the holidays or just making a big purchase, Walmart’s buy now, pay later approach is definitely worth considering. Just be sure to review the terms, interest rates, and eligibility before diving in.
Pro tip: Use the Walmart app or website to compare items and check eligibility for Affirm financing ahead of your trip to the store or online checkout.