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It is possible but you will lose your 20 percent deposit. If you decide to do it then call buds to let them know what you want to do.
Yes you can do this. Buds policy is : (For BudsGunShop.com to maintain its goal in providing you with the lowest prices and best customer service, you MAY be charged a 10% Cancellation fee for canceling or substituting products on an order). Since you are substituting a more expensive firearm, Buds will more than likely waive this 10% fee. I would call Buds at (859) 368-0371 (available 9AM to 9PM EST Monday through Friday).
I e done this before. I had a EAA witness tangfolio on layaway and decided to cancel it and get a Dan Wesson Razorback in 10mm. They charged me 200 dollars which was my 20 percent deposit.