The relaunched Walmart Layaway program is available as of today.
Early September announced to bring back the Walmart Christmas Layaway program for the 2011 Holiday shopping season. Walmart did not offer layaway for the last five years. The new layaway program only applies to electronics and toys. Walmart points out today that the Layaway program is great for purchasing Apple products like the iPhone 4S, iPad 2, iPod touch and iPod nano. Of course you can use the program for any other electronics, toys and fine jewelry above $15.
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How does the Walmart Christmas Layaway work. When you buy a product you only need to pay 10% and a $5 service charge. So for instance if you buy an iPad 2 you pay $49 plus $5. Then you have until December 16 to pay the remaining $490. If you do not pay by then you get the money back minus a $10 cancellation free and again a $5 service fee.
The Walmart Layaway Program is not available on Black Friday, November 25.
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More details about the Walmart Christmas Layaway program can be found on the Walmart site.