Shane Co Layaway (2024)

FAQs

Can you put engagement rings on layaway? ›

When a certain engagement ring has caught your eye, layaway can be a great option to ensure it isn't purchased by someone else. Putting an engagement ring on layaway allows you to pay towards your dream ring with no interest charged to you.

If you're not completely satisfied with your Shane Co. jewelry, you may return it within 60 days of purchase, as long as the merchandise is in its original condition and has not been worked on by any jeweler outside of Shane Co.

Layaway Definition

It's a payment system where the customer puts down a deposit on specific merchandise that's held by the seller until a later date, when the customer finishes paying in full. Usually the balance is paid in scheduled installments, but sometimes it's paid off in a single payment.

Shane Co. financing account issued by TD Bank, N.A. Standard account terms apply to non-promotional purchases.

One of the most infamous wedding etiquette rules revolves around how many months' salary one should spend on the engagement ring. It's known as the "three months' salary" rule, and it implies that a buyer should put three months of their salary toward a sparkler for their future spouse.

No, Tiffany & Co. does not offer engagement ring layaway options. However, Tiffany Select Financing is available as a payment method in the U.S. and allows you to pay off an engagement ring purchase within either 12 months (interest free) or 24 months depending on credit approval.

Easily sell back your Shane Co. jewelry including gold, platinum, sterling silver, and diamonds. For more information or to initiate a sale, please contact your local store or call (866) 467-4263 to speak to a customer service representative.

The Shane family travels to the diamond capitals of the world — Antwerp, Tel Aviv, and Mumbai — to buy diamonds directly from diamond cutters who don't deal in conflict diamonds.

At ShaneCo.com, you'll only find gold jewelry of 14k and above. That's because 10k gold jewelry contains less than 50% actual gold - too little to meet our standards for quality.

How does a layaway plan affect your credit? A layaway plan will not impact your credit score in any way, and the retailer will not need to do a hard credit check. If you use one to pay for an item, it won't hurt or help your credit.

Does Walmart do layaway on rings? ›

Last holiday season, we removed seasonal layaway from most of our stores with the exception of select jewelry items at select stores, and based on what we learned, we are confident that our payment options provide the right solutions for our customers,” the store said in a statement.

Benefits of Layaway

When purchasing items through a layaway service, customers are not charged interest on the price of the item. This makes layaway a cheaper option, as compared to credit card purchases that charge customers interest of between 15 to 25%, and sometimes higher.

You will need a certified appraisal before getting an insurance policy. If you purchased your ring from Shane Co., we will re-print an appraisal anytime you need it, free of charge!

Free Returns

If you're not completely satisfied with your ShaneCo.com jewelry, you may return it via FedEx or to your local store within 60 days of purchase, as long as the merchandise is in its original condition and has not been worked on by any jeweler outside of Shane Co.

Shane Company filed for Chapter 11 bankruptcy on January 12, 2009 and closed three locations in Orlando, Florida; Morrow, Georgia; and Tukwila, Washington, on February 15, 2009. On August 11, 2010, Shane Co. filed a Plan of Reorganization to repay 100% of all debts, placing debts to Tom Shane as the lowest priority.

Many jewelry stores offer in-house financing with flexible repayment options to help shoppers pay for their engagement rings. For example, you may have six to 12 months to pay off a ring with no down payment, no interest and no fees, as long as you follow the terms of the agreement.

Walmart decided to get rid of layaway before the 2021 holiday season. The company announced it's using Affirm, a buy now, pay later service the retailer partnered with in 2019. Walmart started to phase its layaway out last year, only allowing it for select jewelry purchases.

“Buy now, pay later” for engagement rings

The repayment term and interest rate will vary based on the BNPL provider. Some providers only offer a pay-in-four plan — four equal payments, each due two weeks apart, with the first payment due at check out — while others offer longer terms that may charge interest.

Many retailers offer in-store payment plans or store credit cards with 0% financing for up to 18 months, though offers and time frames vary depending on where you shop. Longer repayment terms could be an option, but your jeweler may charge a relatively high interest rate for the privilege of a longer term.