Financing & Layaway

FINANCING

Madison Avenue Couture has teamed up with Affirm to offer financing on purchases, turning an aspirational purchase into an affordable one.  Items bought using Affirm financing are sent immediately on Affirm's approval.  This is substantially more appealing than layaway, in which the item must be paid in full before it is received.

Affirm is an excellent alternative to a credit card as it is specific to the item purchased and does not impact existing credit card limits.  

Affirm provides up to $17,500 of financing payable in three, six or 12 monthly payments. For example, on a $700 purchase, you may pay $63.18 for 12 months with a 15% APR.

The amount offered and the annualized interest rate, which varies from 10% to 36%, is based on Affirm's credit review. Your rate will be 10-36% APR based on credit, and is subject to an eligibility check. Payment options through Affirm are provided by affirm.com/lenders .

Options depend on your purchase amount, and a down payment may be required. If the item purchased costs more than the amount that Affirm approves for financing at checkout, that additional amount must be paid via a debit card at the time of purchase.

When checking out an item, Affirm will prompt for more information.  This information, such as active checking account, is used to verify identity and enable Affirm to perform its credit check. All information provided to Affirm is kept confidential from Madison Avenue Couture. 

Affirm initially conducts a "soft" credit check when Affirm financing is selected to determine creditworthiness.  It then does a single "hard" credit check if the Affirm terms are accepted.  This credit check, like most credit checks, may have a minor impact on credit scores.  The credit check is done only on the first purchase from Madison Avenue Couture.  Subsequent credit reviews are not required.

See affirm.com/licenses for important info on state licenses and notifications.

LAYAWAY

Madison Avenue Couture offers an interest-free 30-day layaway plan on any item of $3,000 or more. For layaways longer than 30 days, we offer Affirm financing. You can read about Affirm on here

To place an item on layaway, contact us at info@madisonavenuecouture.com and we will send a payment link. We require 50% of the selling price at initial checkout and 50% at the end of the 30 days.

Any layaway can be completed early by paying in full. The purchased item will be sent on completion of the final payment.

Layaway Cancellation And Extension

If a layaway is canceled after the initial payment, we will issue a store credit for the initial payment less 15% of the item’s purchase price.

Store credits must be used within one year from date of issuance.

Any extension of the layaway period is subject to our discretion. If we agree to extend the layaway period, we will charge a non-refundable fee of 10% on the purchase price of the item payable on the next payment date. All requests for extension must be received five business days before the next payment date.

Non-Payment Of Layaway Payment

If we do not receive notification that the layaway plan has been canceled or a request for extension and we have not received the next installment, we will determine that the buyer is in default within 24 hours after the installment due date. Being in default, we are not obligated to refund any of the funds that were paid to date.

Exchanges

An exchange of the item on layaway is treated the same way as cancellations. Exchanges made after the first payment will be subject to at 15% fee.