ConsumerTalk with Wendy Knowler, Good to Know with Wendy Knowler, Good to Know with Wendy Knowler

Even upmarket boutiques offer lay-bys! Here’s what you need to know…

pexels.com, 2019

Lay-by has taken off as a payment option in the last year or two, according to consumer journalist Wendy Knowler.

Formerly mainly used by lower-income consumers who relied on it to pay off furniture or clothes, it’s now gone mainstream among those earning higher incomes, especially those with poor credit records.

Nowadays, many upmarket boutiques offer lay-bys.

With lay-bys, shoppers choose an item and pay it off every month without interest.

They get to take home whatever they bought once they’ve paid in full.

No credit checks are needed.

Consumers may cancel a lay-by at any time.

A shop must refund them in full – credit notes are not allowed - minus 1% of the retail price as a cancellation penalty.

The Money Show’s Bruce Whitfield interviewed Knowler.

For more detail, listen to the interview in the audio below.

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Tom Moyane’s lawyer to represent Peter Moyo in battle with Old Mutual

Tom Moyane’s lawyer to represent Peter Moyo in battle with Old Mutual

Bruce Whitfield interviews Eric Mabuza who will represent the dismissed Old Mutual CEO in a court challenge against his firing.

'We don’t need more plans! We have plans coming out of every orifice!'

'We don’t need more plans! We have plans coming out of every orifice!'

Bruce Whitfield interviews political analyst Lukhona Mnguni, Bonang Mohale (BLSA) and Dr Adrian Saville (Cannon Asset Managers).

[WATCH] Volkswagen’s new feel-good Kombi ad 'Cupcake Boss' is brilliant

[WATCH] Volkswagen’s new feel-good Kombi ad 'Cupcake Boss' is brilliant

Advertisers traditionally warn against working with children. In this ad it works beautifully, says ad expert Andy Rice.

Comparing milk prices across Africa suggests the rand may get stronger

Comparing milk prices across Africa suggests the rand may get stronger

The Money Show’s Bruce Whitfield interviews Neville Mandimika, Africa Strategist at Rand Merchant Bank.

I’ve never seen anything like this! – Simon Brown on Old Mutual vs Peter Moyo

I’ve never seen anything like this! – Simon Brown on Old Mutual vs Peter Moyo

The Money Show’s Bruce Whitfield interviews Simon Brown, Financial Educator at Just One Lap.

The fascinating story of WeBuyCars (and why Naspers is pumping billions into it)

The fascinating story of WeBuyCars (and why Naspers is pumping billions into it)

The Money Show’s Bruce Whitfield interviews WeBuyCars founder Faan van der Walt for his weekly "ShapeShifter" feature.

Popular articles
'I want to ensure my money delivers change to as many people as possible'

'I want to ensure my money delivers change to as many people as possible'

Black Business Council president Sandile Zungu on his attitude toward money (hopes and fears, successes and failures, etc.).

'Mbete faced difficult questions. She has done a lot in terms of responding'

'Mbete faced difficult questions. She has done a lot in terms of responding'

Xolani Xala (SA Business Abroad) defends his defence of ANC stalwart Baleka Mbete’s "car crash" interview on Al Jazeera.

[WATCH] Oprah roasts student about his cracked phone, then buys him a new one

[WATCH] Oprah roasts student about his cracked phone, then buys him a new one

Khabazela shares tweets and Facebook posts that have gone viral.

Why Vestact is buying Discovery (JSE), Long4Life (JSE) and Booking.com

Why Vestact is buying Discovery (JSE), Long4Life (JSE) and Booking.com

Portfolio Manager Byron Lotter shares his stock picks of the week with Bruce Whitfield on The Money Show.

Former Lions rugby player describes surviving a stroke and some of the signs

Former Lions rugby player describes surviving a stroke and some of the signs

Ethienne Reynecke had a stroke over a year ago, and he describes the signs and symptoms he experienced and his road to recovery.

Mashaba's exit shows serious racial divide within the DA - Prof Steven Friedman

Mashaba's exit shows serious racial divide within the DA - Prof Steven Friedman

Political studies expert Professor Steven Friedman gives his analysis of the recent developments within the Democratic Alliance

[WATCH] Oregon coach hugging student after disarming him of shotgun, goes viral

[WATCH] Oregon coach hugging student after disarming him of shotgun, goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Toddler upset that mom didn't give him a goodbye kiss, is so adorable

[WATCH] Toddler upset that mom didn't give him a goodbye kiss, is so adorable

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Boy explaining what he heard when parents had sex goes viral

[WATCH] Boy explaining what he heard when parents had sex goes viral

Khabazela shares tweets and Facebook posts that have gone viral.