Before giving a down payment on a computer or a tablet, know what you are agreeing to. Always inquire about the merchant’s layaway policy. Layaway and cancellation policies vary from one merchant to the next.

Amount requested for a down payment

If a merchant is requesting a down payment, you should try to negotiate the lowest possible amount. A low down payment means a smaller loss if the store closes its doors or goes bankrupt before you take delivery of the item you purchased.

Cancelling a layaway

Want to cancel a layaway? Know that merchants cannot set in advance the penalty they will charge if you cancel an agreement (for example, in a contract, in their layaway policy, in a statement, etc.) However, in certain circumstances, they could ask for a sum of money to redress damages actually incurred because of the cancellation.