Loan Length
| Product Price | Traditional Layaway | Layaway + Financing | Down-Payment + Financing | Down-Payment Percentage |
|---|---|---|---|---|
| $0 – $599.99 | 3 Months | 6 Months | 5 Months | 24.00% |
| $600 – $1,499.99 | 3 Months | 12 Months | 10 Months | 31.23% |
| $1,500+ | 3 Months | 18 Months | 15 Months | 38.03% |
Fee Schedule and APR
- There are NO FEES for the Traditional Layaway plan or during the layaway portion of a "Layaway + Financing" plan.
- Early termination of a "Traditional Layaway" plan or during the layaway portion of a "Layaway + Financing" plan will incur a cancellation fee equal to the lessor of (1) $30 or (2) the amount currently accumulated from layaway.
- Your APR will be 250% during the financing portion of a "Layaway + Financing" or "Down-Payment + Financing" plan
Cost of Credit
The chart below represents illustrative examples of the cost of financing to the borrower. If you have any questions, or would like more information, please ask. Make certain the questions that you ask are answered. Make certain you understand the terms and costs of your loan.
| ANNUAL PERCENTAGE RATE | FINANCE CHARGE | Amount Financed | Total of Payments | Total Sale Price |
|---|---|---|---|---|
| The cost of your credit as a yearly rate. | The dollar amount the credit will cost you. | The amount of credit provided to you or on your behalf. | The amount you will have paid after you have made all payments as scheduled. | The total cost of your purchase on credit, including your down payment of $252.95 |
| 248.68% | $719.82 | $557.00 | $1,276.82 | $1,529.77 |
Illustrative example of the repayment terms with a finance charge start date of: 08/30/2010
This example purchase is for an HP All-In-One Desktop Computer with a cash purchase price of $809.95.
| Payment Number | Amount of Payments | When Payments Are Due |
|---|---|---|
| Layaway Payments | ||
| 1 | $126.48 | 07/20/2010 |
| 2 | $126.47 | 08/19/2010 |
| Financing Payments | ||
| 1 | $127.67 | 09/17/2010 |
| 2 | $127.67 | 10/19/2010 |
| 3 | $127.67 | 11/19/2010 |
| 4 | $127.67 | 12/17/2010 |
| 5 | $127.67 | 01/19/2011 |
| 6 | $127.67 | 02/18/2011 |
| 7 | $127.67 | 03/18/2011 |
| 8 | $127.67 | 04/19/2011 |
| 9 | $127.67 | 05/19/2011 |
| 10 | $127.79 | 06/17/2011 |
** This Rate Schedule provides an illustrative example of a typical extension of credit we offer to qualified applicants. We offer a range of possible combinations of credit terms. The terms listed in this Retail Installment Sales Rate Schedule may be offered for only a limited period of time.
| ANNUAL PERCENTAGE RATE | FINANCE CHARGE | Amount Financed | Total of Payments | Total Sale Price |
|---|---|---|---|---|
| The cost of your credit as a yearly rate. | The dollar amount the credit will cost you. | The amount of credit provided to you or on your behalf. | The amount you will have paid after you have made all payments as scheduled. | The total cost of your purchase on credit, including your down payment of $85.45. |
| 248.60% | $154.12 | $270.60 | $424.72 | $510.17 |
Illustrative example of the repayment terms with a finance charge start date of: 08/02/2010
This example purchase is for a Lenovo Netbook with a cash purchase price of $356.05.
| Payment Number | Amount of Payments | When Payments Are Due |
|---|---|---|
| Down-Payment | ||
| $85.45 | 07/20/2010 | |
| Financing Payments | ||
| 1 | $84.94 | 08/19/2010 |
| 2 | $84.94 | 9/17/2010 |
| 3 | $84.94 | 10/19/2010 |
| 4 | $84.94 | 11/19/2010 |
| 5 | $84.96 | 12/17/2010 |
** This Rate Schedule provides an illustrative example of a typical extension of credit we offer to qualified applicants. We offer a range of possible combinations of credit terms. The terms listed in this Retail Installment Sales Rate Schedule may be offered for only a limited period of time.
Sample Fee Calculations
Layaway + Financing
| Cash Purchase Price of Order | Total Financing Charges for 6 Months | Total Financing Charges for 12 Months | Total Financing Charges for 18 Months |
|---|---|---|---|
| $199.99 | $86.57 | – | – |
| $399.99 | $173.14 | – | – |
| $599.99 | $259.67 | – | – |
| $799.99 | – | $710.97 | – |
| $999.99 | – | $888.58 | – |
| $1,199.99 | – | $1,066.27 | – |
| $1,399.99 | – | $1,244.13 | – |
| $1,599.99 | – | – | $2,116.27 |
| $1,799.99 | – | – | $2,380.97 |
| $1,999.99 | – | – | $2,645.73 |
| $2,199.99 | – | – | $2,910.39 |
| $2,399.99 | – | – | $3,174.98 |
| $2,599.99 | – | – | $3,439.56 |
Down-Payment + Financing
| Cash Purchase Price of Order | Total Financing Charges for 5 Months | Total Financing Charges for 10 Months | Total Financing Charges for 15 Months |
|---|---|---|---|
| $199.99 | $86.57 | – | – |
| $399.99 | $173.14 | – | – |
| $599.99 | $259.67 | – | – |
| $799.99 | – | $710.97 | – |
| $999.99 | – | $888.58 | – |
| $1,199.99 | – | $1,066.27 | – |
| $1,399.99 | – | $1,244.13 | – |
| $1,599.99 | – | – | $2,116.27 |
| $1,799.99 | – | – | $2,380.97 |
| $1,999.99 | – | – | $2,645.73 |
| $2,199.99 | – | – | $2,910.39 |
| $2,399.99 | – | – | $3,174.98 |
| $2,599.99 | – | – | $3,439.56 |
