What is a typical feature of a layaway plan?

A layaway plan typically involves an initial deposit followed by subsequent payments over time, leading to the eventual ownership of the product. This structure allows customers to secure an item without having to pay the full price upfront, making it more accessible for those who may not have the immediate funds necessary for a larger purchase. By making smaller payments, customers can budget their expenses more effectively while ensuring that the item is held for them until it is fully paid off. This feature aligns with the fundamental concept of layaway, which is designed to provide a flexible and consumer-friendly payment option.

The other options do not accurately describe the characteristics of a layaway plan: immediate ownership implies that the customer possesses the item right away, which contradicts the deferred payment nature of layaway. Full payment made upfront also does not align with how layaway functions, as the essence of a layaway plan is to make payments over time rather than pay everything at once. Lastly, the idea of no cost associated with the items is misleading, as layaway still involves financial transactions and payments, even if they are spread out over time.