ConsumerTalk with Wendy Knowler

6 tips on getting the most out of lay-bys

With increasing numbers of South Africans either having bad credit records or not qualifying for credit, it’s no wonder that more stores are enticing their customers to buy on Lay-By

Lay-By allows you to choose an item - a pair of shoes, for example - and pay them off every month, with no interest added. The key difference between buying on credit and via lay-by is that with the latter, the goods remain the property of the store until the customer pays for them in full.

You can cancel a lay-by at any time, and you must be refunded all payments you’ve made up to that point, minus just 1% of the retail price as a cancellation penalty. So if the shoes cost R1000, the cancellation penalty is just R10.

Ask to see the store’s lay-by terms and conditions before you enter the deal and make sure everything is documented, and that you have a copy of what you put your signature to.

Stores may not make a lay-by refund conditional upon you spending that refund on another item in their store.

Many stores still have a “no refunds” lay-by policy, which is illegal - companies do not have the right to contract outside of the law.

If, when you’ve paid off the shoes, the store is unable to supply them, for whatever reason, you must either be offered a comparable or better pair or be refunded double what you paid as compensation.


Recommended

by THE NEWSROOM

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Commission to charge dodgy CT car salesman after failing to reimburse customer

Commission to charge dodgy CT car salesman after failing to reimburse customer

The dealership owner faces court action after failing to pay back the money for a used VW Passat which broke down after five days.

Tips on how to reduce Listeria risk in foods

Tips on how to reduce Listeria risk in foods

Food scientists are calling it the worst documented listeriosis outbreak in global history. An expert shares food safety advice.

Want to return your purchase? Consumer law doesn't protect buyers remorse

Want to return your purchase? Consumer law doesn't protect buyers remorse

While many retailers have different policies, consumers are not entitled to reimbursement for unwanted gifts, by law.

Check the T&Cs before booking your wedding supplier, warns Wendy Knowler

Check the T&Cs before booking your wedding supplier, warns Wendy Knowler

Consumer journo Wendy Knowler says there must always be a detailed contract in place between bridal couples and wedding vendors.

5 habits of a sussed supermarket shopper

5 habits of a sussed supermarket shopper

ConsumerTalk's Wendy Knowler helps you navigate your trolley successfully through the aisles of your favourite stores.

That's not what we paid for: Cape NGO left hanging after Glotrade botches order

That's not what we paid for: Cape NGO left hanging after Glotrade botches order

The Social Project ordered 200 tablets from Glotrade but the tech company didn't deliver and hasn't reimbursed them, months later.

Popular articles
[LISTEN] Accidentally shared a nude on a WhatsApp group? Here's what you can do

[LISTEN] Accidentally shared a nude on a WhatsApp group? Here's what you can do

A woman mistakenly shared a naked photo of herself on a parent Whatsapp group and now it's gone viral.

De Lille: Additional water resources are not going to stop Day Zero.

De Lille: Additional water resources are not going to stop Day Zero.

The Level 6B water restrictions will come to effect on 1 February and residents are asked to use only 50 litres of water per day.

Punitive tariff hike for water guzzlers to hit CT households where it hurts

Punitive tariff hike for water guzzlers to hit CT households where it hurts

Harsher punitive tariffs on the cards as 'Day Zero' becomes a reality as the result of 60% of Capetonians who ignore water limits.

WATCH: Innovative spray limits toilet flushes and saves water

WATCH: Innovative spray limits toilet flushes and saves water

Loo Me is a simple yet effective scented foam that takes the yuck out of "mellowing" toilets preventing multiple flushes.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.