Definition of lay-by noun from the Oxford Advanced Learner's Dictionary
lay-by
noun
1[countable] (British English) an area at the side of a road where vehicles may stop for a short timeHe pulled into the lay-by and got out to see what was wrong with the car. compare rest area2[uncountable] (Australian English, New Zealand English, South African English) a system of paying some money for an article so that it is kept for you and you can pay the rest of the money laterYou could secure it on lay-by.