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Layaway for tools

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Forum topic by bigike posted 02-03-2010 03:45 PM 2766 views 0 times favorited 19 replies Add to Favorites Watch
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bigike

4033 posts in 2012 days


02-03-2010 03:45 PM

Topic tags/keywords: store tools

I was just wondering if there was a woodworking store that had layaway for tools, and u had about six months to a year to pay it off. What tool/tools would you get? I’m talking everything from rough sawn wood all the way up to finnish and everything in between.

-- Ike, Big Daddies Woodshop, http://www.icombadaniels@yahoo.com


19 replies so far

View CharlieM1958's profile

CharlieM1958

15714 posts in 2942 days


#1 posted 02-03-2010 04:01 PM

I don’t know if most young people today even know what “layaway” is. When I worked part-time at Sears back in the 70’s, it was fairly common for guys to come in and put a few bucks down on a piece of equipment when it was on sale, then make payments on it over a number of months until it was paid off and they could take it home. The advantage was that there were no interest charges. The disadvantage, of course, is that you didn’t get to take possession until the item was paid for.

Credit has become so available, and people use it without thinking twice, that I don’t believe many people would be interested in layaway these days. As a society, we are too much into immediate gratification.

-- Charlie M. "Woodworking - patience = firewood"

View Mytoya's profile

Mytoya

210 posts in 1939 days


#2 posted 02-03-2010 06:20 PM

I myself do not know of one. When you find one please let me know. I have a long want list. I will be working on your masks next week. I will email you before I start. Happy New Year!!!!!!

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a1Jim

112544 posts in 2301 days


#3 posted 02-03-2010 06:45 PM

Interesting Idea

-- http://artisticwoodstudio.com Custom furniture

View poopiekat's profile

poopiekat

3710 posts in 2458 days


#4 posted 02-03-2010 07:45 PM

Layaway? I’m with Charlie on this one.
Back in the late 60’s I was a stockboy for a discount department store. We had a layaway program, and I saw lots of hard-luck, impoverished people come in and put a dollar or two on their account. Lots of times, it was single moms, who’d put infant clothing on layaway, and not be able to pay it off until the baby had already outgrown it. Sometimes, people would come in asking for some money back that they’d already paid toward layaway! Makes me wonder if E-Z credit isn’t so bad after all,...if managed wisely it would have prevented some of the misery I used to see.

-- Einstein: "The intuitive mind is a sacred gift, and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift." I'm Poopiekat!!

View JAGWAH's profile

JAGWAH

929 posts in 1808 days


#5 posted 02-03-2010 07:54 PM

It would be nice. As everyone knows you could put the money away in a tool jar. But life doesn’t work out that way, it will get spent.
I once was saving for a new saw. I had my eyes set on a Delta Unisaw and needed at the time about $2000. I nickled and dimed and squeezed every extra penny I could out of my jobs for over a year. Well, the day came to go buy the saw and my wifes cars transmission died. When she asked me how I paid for the repair I told her. She got angry that I had been hiding money from her. Didn’t get a thank you for spendin tool money.This was my ex by the way, should have bought the saw. I’d still have it.

Layaways get your money out of your hands which helps.

-- ~Just A Guy With A Hammer~

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poopiekat

3710 posts in 2458 days


#6 posted 02-03-2010 08:02 PM

I suppose that Pawn Shops are the only way to go, if you want to put your tools in hock and have the money in your pocket. As long as you can get your stuff and pay up before your claim expires.

-- Einstein: "The intuitive mind is a sacred gift, and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift." I'm Poopiekat!!

View Kent Shepherd's profile

Kent Shepherd

2698 posts in 2010 days


#7 posted 02-03-2010 08:29 PM

There is a tool store in Lubbock,Texas that does layaways—for 90 days though—not a year.

-- She thought I hung the moon--now she just thinks I did it wrong

View CharlieM1958's profile

CharlieM1958

15714 posts in 2942 days


#8 posted 02-03-2010 08:38 PM

JAGWAH, I think the term ungrateful b** applies here. LOL!

-- Charlie M. "Woodworking - patience = firewood"

View Sawkerf's profile

Sawkerf

1730 posts in 1792 days


#9 posted 02-03-2010 08:43 PM

Another possible reason for the “death” of layaway might be the cost associated with storing the item until the customer pays it off and takes it away.

Part of the cost of stuff on display includes the cost of storing it in the back room until it comes out. Keeping something in the store room after it’s “sold” uses up space for something else that will be sold later.

-- Adversity doesn't build character...................it reveals it.

View Kristoffer's profile

Kristoffer

671 posts in 1940 days


#10 posted 02-03-2010 09:18 PM

Well, I odn’t know of a place that does it, but I would be making payments on a planer if I did.
JAGWAH, you should’ve fixed the trans, (and when you didn’t even get a “thanks”) put her in the trunk and drove the car off a cliff.

-- Cheers and God Bless

View noknot's profile

noknot

548 posts in 2165 days


#11 posted 02-03-2010 09:38 PM

I have a freind whos wife will spend every dollar he has so his savings account consists of a plastic 55 gal drum and a 2 inch peice of pipe he buried the drum under his workshop. when he needs money for tools he sticks his shop vac hose down there and makes a withdraw. his wife thinks the pipe is a sewer vent

-- GO DAWGS!

View JAGWAH's profile

JAGWAH

929 posts in 1808 days


#12 posted 02-03-2010 11:29 PM

Charlie & Chris
Now Now, I appreciate your ideas but I’m a believer in Karma and frankly over the years Karma has done more than I could have. And I don’t have to worry about jail time.

Actually I didn’t realize it at the time but the nicest thing she ever did for me was divorce me. The result was finding the sweety I’m with now and soon we’ll celebrate 16 years. Still I give all thanks to Karma.

-- ~Just A Guy With A Hammer~

View degoose's profile

degoose

7049 posts in 2078 days


#13 posted 02-04-2010 08:21 AM

Jagwah… my ex did me the same favor.. I have the best end of the bargain… I saw here last week and drugs have not treated here kindly…
Oh well.
I remember a system of 12 people paying each month one twelfth of the cost of an item they all wanted.. at the end of each month one name was pulled from the hat and that person got the item… First person got it after a month and kept up the payment… and the last person had to wait 12 months but in the end all got the item…

-- Drink twice... and don't bother to cut... @ lazylarrywoodworks.com.au For lovers of all things timber...

View AeroClassics's profile

AeroClassics

15 posts in 2091 days


#14 posted 02-04-2010 09:01 AM

The Woodcraft I part time at will do a layaway. Not sure what the terms are but we have a fellow who has a DeWalt 788 on layaway. Actually, I think we will order the actual saw when he comes close to his last payment. Works out well for him and the store. A store could potentially have a great deal of working capital tied up in layaway items. That’s cash that cannot be used to for other things. I suspect this may be why the era of layaway has pretty much died. With margins so small for most major equipment it might actually cost the store more to put an item in the back room for 90 or 120 days rather than have it available to sell.

I imagine credit cards also had something to with it.

Doug

-- Doug, Carrollton, TX. www.djswoodworks.com

View JAGWAH's profile

JAGWAH

929 posts in 1808 days


#15 posted 02-04-2010 03:49 PM

Great idea Degoose!
So 12 guys here putting up $50 a month can consider a $600 purchase. Sounds potentially flawed like a pyramid, in that what cause them to fail is the ones in the beginning stop contributing once they get theirs. Takes a bunch of high integrity individuals not unlike the members here at LJ’s.

-- ~Just A Guy With A Hammer~

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