Walmart Layaway? Nope, monthly payment w/ INTEREST!

Walmart has scrapped their layaway for the upcoming holiday season and instead are offering financing through Affirm for your holiday purchases.  There are some exclusions on what you can finance.

What does this mean for you?  Well, from what I can see, it will mean paying higher prices because you will now be charged interest on your purchases.  Plus, you will be strapped with payments AFTER the holidays instead of paying upfront with a layaway plan.

Between Walmart changing their app to the ending layaway, they are really not seeming much like a consumer-friendly store.

See more about the Walmart app changes:

Walmart+ versus Brickseek

Here is the page on Walmart.com that shows about Affirm for replacement to their holiday layaway:

Affirm – monthly payments with up to 30% APR!

From Walmart’s Q&A on their site:

Alternative to layaway, you can purchase immediately and pay over time at a pace you choose—from 3 to 24 months*. During checkout at Walmart.com, you can choose Affirm as a payment method and apply for a loan to pay for your items.

Your interest will depend on your credit and from the following, it looks like not everyone will qualify.  Plus, it may affect your credit rating as you will be applying for a loan.

*Your rate will be 10-30% APR based on credit, and is subject to an eligibility check. Ex: on a $150 purchase, you may pay $13.92/mo for 12 months (20.00% APR). Payment options
through Affirm are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required.

I do not use layaway (although I did many years ago at Kmart).  I would think it is an important item for many people with young children.  I wonder what other options there are?  Does anyone still have a Kmart?  Do they still do layaway?

What are your thoughts?