layaway plan

noun

1. a method of purchasing by which the purchaser reserves an article with a down payment and claims it only after paying the full balance.

Word History and Origins

Origin of layaway plan¹

First recorded in 1970–75

Example Sentences

The festival, which was aptly announced on Valentine’s Day, didn’t tout much else beyond the lineup and the layaway plan with a $19.99 down payment.

From Los Angeles Times

On Friday, prosecutor Georgia Cappleman tried poking holes in his story, saying nobody put a gun to Adelman’s head when he gave Magbanua $138,000 in cash and arranged “some kind of layaway plan” for the rest of the payment.

From Seattle Times

When Taqwanna Clark went to buy a video camera at Fry’s Electronics in Houston, she asked if they had a layaway plan.

From New York Times

“You can buy a gun on a layaway plan,” Abu Sabir said.

From Washington Post

The idea wasn’t exactly new—it’s not unlike paying for your TV with a layaway plan, if you remember those.

From Slate