Lowe’s is a popular home improvement store that offers a variety of products and services to customers.
One question that many customers have is whether or not Lowe’s offers layaway since many stores in the home improvement space offer this as a form of payment financing for their customers.
Unfortunately, the answer is NO. Lowe’s does not currently offer a layaway program for customers.
While layaway can be a convenient option for customers who want to pay for their purchases over time, there are other financing options available at Lowe’s.
In this article, we will be taking a look at layaway at Lowe’s. Why doesn’t the store offer any form of layaway? Do they have alternative financing options? Let’s find out.
Does Lowe’s Do Layaway?
Unlike many stores in the home improvement space, Lowe’s does not offer a traditional layaway plan at the moment.
However, they have implemented a variety of flexible payment options for customers.
For instance, they have a Lease to Own program, which allows customers to get what they need the day they need it, with no credit required. This program is available at participating Lowe’s locations and covers a wide range of products, including refrigerators, appliances, lawnmowers, and grills.
In addition, Lowe’s Advantage Cardholders can take advantage of special financing for expensive items. The Lowe’s Advantage Card is an in-house store credit card that allows holders to pay for items in installments and enjoy other benefits like free local delivery, 5% off everyday purchases, and more.
Although Lowe’s does not have a layaway program directly, customers can use third-party payment-splitting services like Klarna to make installments until their purchase is paid off. However, these services come with service fees and may not be suitable for everyone.
Why Doesn’t Lowe’s Offer Layaway?
While layaway is a popular payment option for many consumers, Lowe’s has opted to provide alternative financing options instead. Lowe’s offers a variety of financing options, including a Lowe’s Advantage Credit Card, which offers exclusive discounts, financing options, and special promotions.
One reason why Lowe’s does not offer layaway is that it requires a significant amount of resources to manage.
Layaway requires a separate system to track payments and inventory, which can be time-consuming and expensive for retailers. Lowe’s has chosen to focus on other financing options that are easier to manage and more convenient for customers.
Another reason why Lowe’s does not offer layaway is that it may not be the best option for customers with low credit scores. Layaway requires customers to make payments over time, which can be challenging for those with limited financial means.
Lowe’s has chosen to offer financing options that are more accessible to customers with varying credit scores.
What Other Financing Options Does Lowe’s Offer?
Lowe’s offers several financing options to its customers. These options include the Lowe’s Lease to Own Program, Buy Now, Pay Later via Lowe’s Pay, and Special Financing Via The Lowe’s Advantage Card.
Lowe’s Lease to Own Program
The Lowe’s Lease to Own Program is a great option for customers who do not have the credit score to qualify for traditional financing.
With this program, customers can get what they need the day they need it, with no credit required. From refrigerators and other appliances to lawnmowers and grills, Lowe’s Home Improvement is there to help you get your projects done.
Buy Now, Pay Later via Lowe’s Pay
Lowe’s Pay is a buy now, pay later program that allows customers to make purchases and pay for them later. With this program, customers can make purchases and pay for them in installments, making it easier to manage their budget. This program is available to customers who have a Lowe’s Advantage Card.
Special Financing Via The Lowe’s Advantage Card
The Lowe’s Advantage Card is a credit card that offers special financing options to its customers. With this card, customers can take advantage of interest-free special financing of up to 6 months on purchases of $299 or more, or 84 fixed monthly payments with reduced APR financing on purchases of $1,999 or more.
The card also offers a 5% discount on eligible purchases and customers who want to apply for this card are required to provide their Social Security Number (SSN) and Taxpayer Identification Number (TIN) alongside a couple of other personal details that may be requested.
Once your application is approved, you should be able to make payments online, via mail, or at your local Lowe’s store using your Lowe’s Advantage Card.
What Items Can You Purchase/Lease Using Lowe’s Financing Options?
Lowe’s offers financing options to help customers purchase or lease high-demand big-ticket items they need for their homes. These options include Lease-to-Own, Credit, and Special Financing.
With Lease-to-Own, customers can get what they need the day they need it, with no credit required. Lowe’s and Progressive Leasing offer this program to help customers purchase the items they need for their homes.
This program includes a wide range of products, including home appliances such as refrigerators, seasonal items, power tools, home decor, lighting, outdoor items, flooring, and kitchen items. Customers can review the list of thousands of leasable items on the PDF Leasable Items List provided by Lowe’s.
Lowe’s also offers Credit and Special Financing options. All Lowe’s Business cardholders receive 5% off every day, discounted delivery, and convenient billing and invoicing options. Customers can also take advantage of up to 24 months of special financing, with no interest if paid in full within 12, 18, or 24 months, depending on the purchase or order amount.
Overall, Lowe’s financing options provide customers with the flexibility they need to purchase or lease the items they need for their homes.
Conclusion
In summary, after conducting thorough research and examining Lowe’s policies, it becomes evident that Lowe’s does not offer any layaway options.
The absence of a layaway payment option might seem disappointing to some buyers, especially those considering major home improvement projects.
However, Lowe’s does offer other financing options such as the Lease to Own Program with Progressive Leasing, which allows customers to get what they need the day they need it, no credit required. From refrigerators and other appliances to lawnmowers and grills, Lowe’s Home Improvement is here to help you get your projects done.
