Layaway is great if there's a hot new product that's selling out fast or maybe there's an item you want at a price that's too good to pass up.
It lets you lock in the purchase and then pay for it over time.
Toys R Us launched its holiday layaway program this week.
Toys R Us and Babies R Us customers got an email blast announcing back by popular demand free layaway for a limited time only. No upfront fees!
But when you read the fine print, it says there's a $5 service fee to put merchandise on layaway.
The company says, "There is usually a $5 upfront service fee for layaway, however, that fee is waived for the holiday season. There is no fee paid at the time the items are put on layaway."
Here's what you do have to pay to put an item on layaway: A deposit of at least 10% of the total price of your order plus all applicable taxes, and shipping charges.
Items must be paid for by December 15th.
The announcement by Toys R Us comes on the heels of Walmart's free layaway announcement two weeks ago!
The big box giant is also waiving its normal $5 layaway fee.
And Walmart Facebook fans will enjoy a two-day head start with access to layaway on September 11th and 12th.
The layaway program begins for everyone else next Friday and continues through December 13th.
Do beware WalMart is reinstating a $10 fee for layaway cancellations.
Toys R Us also charges $10 to cancel.
Meantime, K-Mart, Sears, and other retailers have ongoing layaway programs.