How does a price change affect my Layby?
It doesn’t. The purchase price of the product is fixed as at the commencement date of your Layby.
If the price of the item decreases during the term of the Layby, you may terminate the layby contract and apply the repayments already made towards the purchase price, however you will be charged a cancellation fee, as per the terms and conditions of your contract. This will be 5% of the total contract value, up to a maximum of $50.
If the price of the item increases during the term of the Layby, you are guaranteed to pay the agreed purchase price.