How To Pay For A Vacation In Installments
One of the best parts about having a job is getting paid to take a vacation. The problem is that it feels like there is never enough money to do so. Even if you do have plenty of cash in the bank, putting the funds necessary together can feel impossible, especially if you want to go somewhere nice and far away. So, how do you pay for a vacation in installments?
It’s the summer and millions of Americans are looking forward to their annual vacation. The average family spends $1,000 per trip, so this summer has a higher barrier for entry. We’ll offer you some tips to pay for your holiday in installments below.
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How To Pay For A Vacation In Installments
Are you saving for a vacation but don’t have enough time to save up the entire cost? Do you want to take a luxurious trip or splurge on a relaxing retreat, but can’t afford the entire expense at once? You may have heard about the benefits of travel, including improving physical and mental health. But what if you need to pay for your vacation in installments? I always dreamt of going on a cruise, but I could never justify spending the thousands needed to go. Then my friend told me how she was able to afford a vacation that cost much more than mine. She used an installment payment plan and paid it off in monthly parts, then went on her trip. This inspired me to look into my options, and I learned that installment plans exist for all kinds of vacation packages.
Hotel Payment Plan No Credit Check
Paying for a holiday in one single splurge can leave a dent in your bank balance, even at the best of times. A helpful solution exists in Partial.ly, a payment plan software company that lets customers choose when they pay, and how much at a time.
“Right now, the travel industry needs more people travelling, but people’s personal finances are one of the things preventing this,” says Benjamin Schmid, chief financial officer of Partial.ly. “We help merchants prevent more attractive options to customers, and help customers pay what they can afford, so it feels like less of a gamble.”
Payment plan apps are starting to become more commonplace within the travel sector, allowing people to spread the cost of their trip over time.
For example, Klarna is used by the likes of Alternative Airlines, Expedia and Hotels.com. It lets customers to pay for their travel in three installments: one third of the amount at checkout, another third in 30 days’ time and the final payment in 60 days’ time.
Partial.ly takes this a step further by allowing the customer greater freedom about how much they pay and when. The software integrates with a brand’s online booking system and offers a few variables to the customer.
“The biggest differentiator between us and other payment plan brands, such as Klarna, is the customer flexibility we offer,” says Schmid. “Generally others only offer three fixed payment options, for example. Also, we’re not a financing payment plan and we don’t check customers’ credit.”
With Partial.ly, each individual customer can choose whether they want to spread their payment over days, weeks or months. They can select how much of an initial down payment they will make. And they can also choose a final payment date.
The software can either be used as a white label product – so it appears as part of a company’s website – or users may be directed to a Partial.ly portal when they make a payment.
While the travel retailer still sets certain parameters and limitations – and can implement fees if they wish – the customer has more control over how much money they spend at once to fund their trip.
“Travel merchants can very easily align their payment methods with Partial.ly, and it is particularly useful for them to set up customer payment so they arrive before at trip or specific tour or event happens,” says Schmid.
Currently, Partial.ly is being used by 500,000 customers across 38 countries – it’s possible to take payments with the software in 135 different currencies. Right now, it’s mostly small, independent travel companies and wellbeing travel sites that are making use of the software, such as You Get To Go, Sweat Reset and Urban Events Global.
“We haven’t yet broken into flights or more typical travel sales yet, but we are looking to do so,” says Schmid. “We have had a variety of travel platforms contact us to try and integrate Partial.ly.”
Family Vacation Packages With Payment Plans
1. Expedia
Is it really a good buy if you can’t get a travel package at a steal? Where’s the fun in that? Expedia is a pro at finding super low prices on flights and bundles.
You can book hotels with thousands of options available worldwide. Expedia is particularly useful for finding great deals on all-inclusive resorts. Your dream vacation can cost you less than $1,000 per person and that includes the flights!
You can save big with Expedia but how does their pay later option work? Expedia have partnered with Affirm for their travel payment plans, this means you can take advantage of 0% interest monthly instalments. To learn more, see Expedia’s handy “book now and travel later” guide on using Affirm at checkout on the Expedia website.
Pros:
- Expedia offers cheaper bundles.
- You can make monthly payments towards your vacation. They also offer “Book Now, Pay Later” hotel deals.
- There is an option to purchase travel insurance.
Cons:
- They have subpar customer service. You’ll have to wait a while for someone to respond to your query. On the plus side, they have live chat.
- Expedia offers unclear details when it comes to room or fare type. If you value comfort during your travels, this can be a deal-breaker.
2. Southwest Vacations (Great for family vacations and all-inclusive resorts)
With their Uplift payment program, you can book a trip today and set easy monthly instalments that fit your budget. You don’t have to pay an arm and a leg every month. These monthly payments can be tailored to your budget allowing you to travel before your loan is paid off in its entirety. Southwest are a particularly good choice if you are looking for all-inclusive vacations with hundreds of resorts to choose from.
Pros:
- They have customizable monthly payments.
- They offer an easy application process.
- There are no charges in the monthly payments, no late fees, and no prepayment penalties.
- Large range of all-inclusive vacations and resorts (including Mexico and Caribbean)
Cons:
- Canceled flights are refunded as Southwest Airlines air credit which can be limiting.
- Canceled land travel, tours, and accommodations are refunded in the form of travel credit from Southwest Vacations.
3. Funjet (Best for All-Inclusive Packages)
Funjet has a great payment plan if you want to travel and save money at the same time. With a simple downpayment, you can secure the best deals at great rates.
You’ll have to make your vacation reservation six weeks in advance with deposit options available at checkout. You can schedule a final payment or make multiple payments at zero interest.
Pros:
- Cancel any time for any reason. There are no pesky rebooking fees.
- Reserve a vacation for as little as $50.
Cons:
- Reservations are subject to change.
- Deposit options are not available if you’re traveling during a holiday.
4. Luxury Escapes
Luxury Escapes’ Latitude Financing Payment plan offers a 12-month interest-free period. You’ll pay monthly installments, but after the 12-month promotional period, you’ll be charged a pretty hefty 24.99% interest rate.
Luxury Escapes offers flexible booking dates. That means you can book a limited-time deal for a certain property now and rebook it for a different date later.
Pros:
- They have a seven-day refund guarantee.
- There are no hidden costs.
Cons:
- If your preferred date is unavailable, you can’t get a refund. Make sure to read the terms and conditions carefully.
5. Contiki
A small layaway deposit of $99 will lock in your travel dates. Contiki accepts Visa, Mastercard, and American Express. They can accommodate all types of installment plans: weekly, monthly, two payments of 50% each – you name it, you got it. You just have to make the entire payment 45 days before departure. That’s it.
Pros:
- There are no interest charges and no fees.
- They offer flexible payment plans.
- The Freedom Guarantee ensures you can reschedule travel dates, swap the tour type, or choose a different region to travel in altogether. You can avoid cancellation fees with this feature.
Cons:
- Cancellation fees as high as 50% if cancellation is done within one to seven days before departure and 100% if done on the day of departure.
6. United Vacations (Best for Layaway Vacation Packages)
With United Vacations, you can finance your trip through Uplift. United have a layaway vacation option which allows you to lay down an initial $250 deposit and pay the rest at least 45 days before the departure date. The best part? You can use multiple credit cards to fund your trip.
Pros:
- If you get the vacation protection package, you won’t have to deal with cancellation fees. You have the flexibility to change or cancel the plan as needed.
- You can book your entire trip through United Vacations from hotels, flights, car rentals to resorts, airport transfers, and excursion experiences.
Cons:
- Airfare is non-refundable. If your flight was canceled, they’ll give you credit you can use within a year as long as your tickets were booked through American Airlines. If not, policies vary from carrier to carrier.
7. JetBlue Vacations
JetBlue’s annual percentage rate ranges from a huge 10.99% to 25.99% for a loan term of 12 to 18 months. Their partnership with MarcusPay enables them to offer top-tier package getaways.
If you want lower rates and longer terms, you’ll need to have excellent credit scores. Additionally, rates are generally higher for longer-term loans.
Pros:
- They don’t require a deposit upfront.
- If you find the same package for a cheaper price within 24 hours of booking, they’ll match it and refund the difference.
Cons:
- JetBlue Vacation charges a $200 cancellation fee per person plus additional penalties charged by the hotels.
8. G Adventures
Deposits for layaway vacations start at $250. If you’re unsure about a specific tour but don’t want to let the opportunity pass you by, they have a “holding an option” tool that lets you reserve a spot for 48 hours without paying a pretty penny.
The best part? If you ever have to cancel a trip, change it, or push it back, you’re not forced to use it within a year or two. It’s good for life. You can pay the full balance close to your departure date.
Pros:
- They have small groups per trip. This helps you form a closer connection to the places and people you visit on your travels.
- They offer lifetime deposits.
Cons:
- “Optional” activities cost you an additional fee if you decide to purchase. If you don’t want to factor in any additional costs to your budget, you can pass on these.
- Depending on the trip, guides can be a hit or miss.
9. Intrepid Travel
Intrepid Travel provides exemplary flexibility in changing travel plans. There are no change fees as long as you notify them about the changes at least 21 days in advance. You have the flexibility to choose an entirely new trip or pick new travel dates.
You only need to secure your trip with a deposit and you can pay the rest in installments whenever you like. Just make sure you’ve paid for the trip in full at least 21 days before you’re scheduled to depart.
Pros:
- There are no interest and rebooking fees.
- You can hold your trip for up to 5 days without paying a deposit.
Cons:
- If you’re traveling solo, you’ll have to pay a mandatory single supplement fee for certain trip types.
10. Priceline
Priceline.com comes through with terrific ways to save on travel. As long as you know how to look for deals, you’ll hit pay dirt.
Check out Priceline’s Express Deal which can save you anywhere between 10% to 40% off flights. The catch? You don’t know what time your flights will depart. It can be a red-eye for all you know.
Pros:
- Priceline offers significantly lower prices.
- You can place bids for a lower price. If you get it, it’s a win. If you don’t, you lose nothing.
Cons:
- Once the fee is charged, you don’t get a refund if you change your mind.
- You can’t reserve a room for more than 2 people.
Vacation Now Pay Later
Are you worried about what going on vacation is going to cost? Do you feel sticker shock every time you talk to a travel agent? Don’t like the idea of paying in full for your vacation before you’ve even left? Consider these alternative options to paying for a vacation.
Can I pay monthly for my vacation with Expedia?
Expedia has partnered with online lender, Affirm, to allow you to easily pay for your vacation in instalments. To set up a trip payment plan you simply select monthly payments during the checkout process and will then be prompted to sign in or sign up with Affirm. Just follow the on-screen instructions to book your vacation with payment instalments in minutes.
What are the benefits of vacation payment plans?
Paying for your vacation in instalments can help you spread the costs and also gives you the option to plan a vacation you wouldn’t otherwise be able to afford. By booking in advance and choosing a trip payment plan you’ll give yourself plenty of time to pay for the vacation of your dreams. It can also come in handy when paying for a group booking, giving you extra time to round up money from other members of your party.
Can I book now and pay later with Expedia?
With Expedia you can filter your vacation search results by payment type, to see what options are on offer. If you know you need to spread the costs, go straight to our latest book now, pay later deals. With this option you can reserve your accommodation ahead of time, and cancel or modify your booking with no extra fees, should your plans change.
How can I find great deals on vacation packages?
To grab the best deal on your next vacation, book your accommodation, flight, and car rental as an Expedia bundle. Search the latest deals to see what’s on offer and then choose to pay monthly for your vacation on checkout.
Does Expedia have a flexible cancellation policy?
Find free cancellation and pay later options by filtering your search results by payment type, so you can rest assured that your vacation is fully flexible. Cancellation policies differ between vacation packages, so it’s always best to check at the time of booking.
Why should I book a vacation payment plan with Expedia?
At Expedia we give you easy access to a huge selection of the best vacation packages. You can then use our advanced filter options to build your ideal vacation and book it in just a few clicks. With access to loads of book now, pay later deals, as well as vacations with payment instalments, we can help you secure the vacation of your dreams.
Vacations are a time to have fun, sit back, and relax. It’s a great way to let off steam that comes with the monotony of life. The only possible drawback I can think of? The meticulous planning and finances.
The good thing is, there’s an alternative. The “Book Now Pay Later” vacation payment plans option is increasingly becoming popular and for good reason!
Imagine this scenario: You need a vacation badly. You’re burnt out from working and the distinction between your work and private life has disappeared, but you don’t have enough in savings to fund your vacay. Should you wave that badly needed vacation goodbye?
Not quite. This is where payment plans come into play. Payment plan offers range from interest-free policies to low down payments and easy monthly installments.
Even if you can’t afford a vacation right now, you can still take the leap. Your dream of exploring the City of Light? Vacationing in the Maldives? Payment plans put them all within reach.
The benefits of using payment plans for vacation packages abound. With so many options in the tour and travel market, it can get a little overwhelming. Don’t fear, this article has you covered.