Plunking down a large sum of money for a solo, couple's or family vacation puts a strain on some household budgets. An unexpected expense like a car or home repair makes it difficult to save for a pricy trip, and financing an adventure with a credit card is not an option for everyone. Fortunately, many resort destinations, cruise lines and travel agencies offer vacation payment plans. Put down a deposit to reserve a spot, then make regular payments until the vacation is paid for. For the best vacation experience, pick the right payment plan for your needs.
Decide how much you want to spend on your entire vacation. Begin looking for the right payment plan by knowing your credit score. Some vacation companies consider your credit before approving a vacation layaway, while others do not. The status of your credit could limit your options.
Consider what a reasonable down payment and monthly payment is for you. Allow yourself six to 10 months to pay for your trip. For an expensive trip, search for payment plans that allow you to spread payments over a longer period. Some travel companies charge a fee for financing.
Contact a travel agency that offers payment plans. Request a tour package to your desired travel destination, like Cancun or Bermuda. Pay the deposit and schedule your future payments. You can have your payments billed to a credit or debit card or make your payment via phone or at the company's website. If your tour requires air travel, verify that your plan also includes the cost of air travel.
Call a cruise line or cruise planner and ask about vacation payment plans. Work with your planner to choose a departure date and destination. Choose how long you want your trip to be. Shorter trips require smaller deposits.
Select a plan that does not penalize you for late payments. Some vacation planners charge fees if you miss a vacation payment.
