Lay-Bye is an increasingly popular payment option for shoppers looking to purchase big-ticket items. CTM is one of the leading furniture stores in South Africa and many customers are wondering if they offer lay-byes. The answer is yes, CTM does offer a lay-bye option, but there are both advantages and disadvantages to consider before making a purchase.
Advantages of CTM Lay-Bye
One of the main advantages of CTM lay-byes is that customers can purchase goods in installments. This makes it easier for those who may not have the funds to purchase an item in one lump sum. Additionally, customers are not charged any fees for using the CTM lay-bye option.
Another advantage of CTM lay-byes is that customers can pay off the item at their own pace. This makes it easier for customers to budget and manage their finances. Furthermore, customers can take the item home with them once the first installment has been paid.
Disadvantages of CTM Lay-Bye
One of the main disadvantages of CTM lay-byes is that customers must wait until the item is paid in full before they can take it home. This means that customers must have the patience to wait until the item is paid off before they can enjoy it.
Additionally, customers are not able to cancel their lay-byes without incurring a cancellation fee. This fee is typically 10% of the total purchase price, so customers should make sure they are sure about their purchase before committing to a lay-bye.
Finally, CTM does not offer any interest-free payment plans for lay-byes. This means that customers must pay the full purchase price, even if it takes them several months to do so.
Overall, CTM does offer a lay-bye option for customers. While there are some advantages to this option, such as the ability to purchase items in installments and take them home once the first payment has been made, there are also some drawbacks to consider. Customers must be aware of the cancellation fees, the lack of interest-free payment plans, and the long wait times before they can take their item home.