Layaway Payment Plan or something like it?

Is there anything out there I can use for a payment plan setup?

Here's the jist:

I want to go get an item on layaway.
I pay $19.99 to "join" the site and layaway my item.
The item is then made into scheduled payments, due by a certain date.

3 Easy Steps:
1. $19.99 Join and layaway
2. Pay half by Dec 01, 2012
3. Pay balance by Jan. 01, 2013

Or, any variation thereof.

Will GravityForms do that or do you guys have something that will work or tie it all together.

Keep in mind, it doesn't have to be perfect, it just needs to work.