What is another word for layaway purchases?
Pronunciation: [lˈe͡ɪəwˌe͡ɪ pˈɜːt͡ʃɪsɪz] (IPA) 
Layaway purchases are a popular form of deferred payment shopping, where the buyer reserves an item while making small and regular payments towards it until the full amount is paid. However, there are various alternatives to this shopping method. One option is installment purchasing, where the buyer makes fixed installment payments until the item is paid off. Layby is another similar term used in Australia, where the buyer makes a deposit towards the item and then pays the balance later. A layaway purchase can also be referred to as a deferred payment plan, on-hold purchase, reservation purchase, or layoff purchase. Regardless of the terminology used, these payment methods provide flexibility and affordability to buyers who may not have the full funds available upfront.
