Here is Your No Nonsense Guide to Understanding Layby

Want to buy a new product like an iPhone XS? But do you want to buy that product without hurting your budget? Of course, buying an expensive product like an iPhone without destroying your budget is difficult—but it’s not impossible. How? Buy an iPhone XS on layby, period.

Wait, what’s layby? To put it simply, it’s a smart way of shopping.

And in this post, we’ll explore what layby means and why it makes sense to buy products on layby.

Let’s dive in.

Understanding layby

When you buy any product on layby, you purchase it through interest-free instalments. Once every single instalment is paid, you’ll finally receive the ordered merchandise. (Remember, most stores don’t allow "take home laybys", so you need to be careful before taking a buying decision. If, however, you want "take home laybys", you may want to explore some other buying options.)

Usually, top layby stores give customers like you the flexibility to pay the instalments in a way that suits you the most. Some layby stores can even extend these instalments for an entire year. That is to say, layby gives you the ultimate flexibility in terms of paying the instalments. After the final payment is processed, the store will ship the item to you.

Now that you have a basic idea of what layby is, let’s discover why this online shopping format is all the rage among Australians today.

Layby: The trend that’s taking the shopping world by storm

No-interest instalments

When you think of instalments, you think of interest. That’s the first thing that comes to your mind. But what if you don’t have to pay any interest? That would be awesome with a capital A. And that kind of awesomeness is what you’ll find when you buy products on layby.

It’s ultra-flexible

When you’re buying a product on layby, you can pay zero-interest instalments the way you want. Which is why, it makes sense to buy a product using this shopping format—especially if you’re operating on a tight budget.

Cancel anytime

Most top-class layby stores will allow you to cancel the consignment at any time before the final payment for the product is made. Nonetheless, it’s always better to go through the terms and conditions of every store—online or offline—from where you’re planning to buy the product.

Giving surprise gifts

Have a wedding anniversary, engagement party, or birthday coming up? Plan to give expensive gifts but don’t have the budget to buy it then and there? In that case, layby is your best bet for buying expensive gifts without wrecking your budget. When you buy an item on layby, you may pay for an expensive product through interest-free instalments. That way, you can plan out your instalments in a way that’ll get your expensive products delivered on the special date.

The bottom line

The availability of layby shopping has helped shoppers like you buy expensive items with freedom and flexibility you just daydreamt of before. Which is precisely why, layby has always been one of the top-performing credit formats in the world of retail.

So, what’re you waiting for? Whether you want to layby heating and cooling appliances online or high-tech gadgetry, you can buy anything using this popular shopping format without breaking a sweat.

My Layby is one of the most reliable online department stores from Australia. This e-store offers an array of 25,000 products. The company’s exclusive selection comprises smartphones, smart watches, TVs, fragrances, furniture, household goods etc.