Travelers Considering the Vacation Layaway Option
The financial crisis has certainly taken its toll on travelers. But things have a way of working out. In this case, an old concept in the travel industry has been gaining popularity — vacation layaways.
Many travel agencies have decided to offer this kind of vacation to travelers in order to address the rising cost of traveling. Basically, vacationers will only need to pay the deposit amount and then pay off the remaining balance by installment.
The best thing about these vacation layaway plans is that the rates are locked in. You can even choose to pay via debit card or credit card. Other travel agencies also offer flexible payment terms as long as you complete final payment a couple of weeks or months, depending on your vacation plans, before your scheduled travel date.
For instance, for a land tour, you will probably be asked to settle your balance at least 45 days before while cruises will require you to complete payment four months before your date of departure.
Of course, they also have some disadvantages.
For starters, there is always the risk of the travel agency disappearing – taking all your hard-earned money with them. This is probably why many experts recommend that travelers pay using their credit cards, instead of debit card or cheque, since you can dispute the credit card charge if the service or product was not delivered. By using your credit card, you are actually protecting yourself from fraud. Just keep in mind that some credit card companies charge high interest rates and you should make sure that you do not end up wallowing in debt.
With this vacation layaway option, you can look forward to enjoying your vacation each year. You just need to make sure that you deal with a reputable travel agency to avoid fraud.
