What is another word for layaway purchase?
Pronunciation: [lˈe͡ɪəwˌe͡ɪ pˈɜːt͡ʃɪs] (IPA) 
A layaway purchase is a type of payment plan allowing customers to reserve an item with a deposit and pay it off over time. However, there are some alternative terms to describe this method of payment. For instance, some retailers may refer to it as "layby purchase," while others may use terms like "installment plan," "preorder payments," or "deferred payment option." Moreover, some shoppers may use the term "reserving" or "holding" an item instead of "layaway purchase." Regardless of the term used, the main idea remains the same - it is a convenient way to secure an item that you may not be able to afford in its entirety right away, and pay it off incrementally.
