Does Home Depot Have Layaway? Answered

Does Home Depot have layaway? The Home Depot does not have layaway, but it does have other financing options.

Layaway allows you to make a small down payment, followed by monthly payments. Once the item has been paid for in full, it’s yours. The best part? Unlike using buy now, pay later financing plans or putting something on a credit card, there’s usually no fee or interest with layaway. Unfortunately, major home improvement stores like The Home Depot, Lowe’s, Menards, and True Value do not offer this service.

Does The Home Depot Have Layaway?

The Home Depot does not offer layaway, according to customer service. However, The Home Depot does have other financing options that may work for you — such as The Home Depot Consumer Credit Card or a Home Depot project loans.

Financing Options at The Home Depot

Whether you’re making an everyday purchase, starting a remodel project at home, or looking to open a credit card for business expenses, here are the Home Depot financing options available to you:

Everyday Purchases

The Home Depot Consumer Credit Card allows you to spread payments over six months interest-free when you spend at least $299. You must pay the balance within six months to avoid interest charges.

Other special promotions for this card often include up to 24-months interest-free financing on qualifying purchases. And cardholders get hassle-free returns up to one year after purchase. You can find out if you pre-qualify (without hurting your credit score) on The Home Depot’s website. Worried about your credit history? See our article to find out which credit bureau The Home Depot uses.

Project Loan

The Home Depot’s Project Loan Credit card allows you to finance for a remodel or home improvement project. You have six months to purchase what you need and 84 months (seven years) to pay the full amount plus a fixed APR of 7.99%. If interested, you can fill out an application online.

Credit for Businesses

With a Home Depot commercial credit account, management can keep track of who uses the card and what purchases are made. There are two types of Home Depot commercial accounts — a Commercial Revolving Charge card for the business itself and a Commercial Account card for each employee authorized to make purchases for the business. With a commercial credit account, cardholder perks include low monthly payments, fuel discounts at participating gas stations, and an interest-free period of 60 days. After the interest-free period, the APR ranges between 17.99% and 26.99%.

To apply for The Home Depot Commercial Revolving Charge card, fill out an application online. You will have the option to request multiple cards. See The Home Depot’s Commercial Credit FAQs for more information.

Other Home Improvement Stores With Financing

Other major home improvement stores like Lowe’s, Menards, and True Value don’t offer layaway either, but they do have their own financing options. To learn more, see our article: Places That Do Layaway: Both Online Layaway Stores and Local (listed under “Stores That Do Not Offer Layaway but Offer Other Forms of Financing”).

In Summary

Does Home Depot do layaway? No. But while there is no Home Depot layaway, there are a few other financing options that may work for you. The Home Depot Consumer Credit Card allows you to spread out payments over six months interest-free when you spend at least $299. The Home Depot’s Project Loan credit card lets you finance up to $55,000 for a remodel or large home improvement project. And, if you own a business and are looking for a commercial credit card, The Home Depot offers credit cards with an interest-free period of 60 days.

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