With the holiday season right around the corner, you’ve probably started planning your vacation.
But even if you were able to save some money in the course of the year, travel expenses can add up pretty fast. This is particularly the case if you’re traveling with family. So one question that lingers in the minds of many is, “do hotels offer payment plans?”
Fortunately, the answer to this is a resounding yes. Rather than trying to save enough cash to pay for hotel reservations, you can now sign up for a payment plan. The best thing about this pricing strategy is that it doesn’t only apply to hotel bookings but also flights and tours. Read on to learn more.
How Does Buy Now, Pay Later Approach Work?
This financing model allows you to book a hotel accommodation now, but pay for it over a given period of time. So rather than having to pay a lump sum amount immediately when you place a booking, the payment is spread out over several weeks or months.
Sounds too good to be true? No, it’s not. However, if you choose this route, ensure that you read the fine print. This is because some companies offer this financing option with hidden charges.
It makes sense to pay for your hotel stay in installments if you have a poor or no credit history. Both both of these situations make it hard to get approved for a loan that can finance your travel expenses
Which Companies Offer Buy Now, Pay Later Plans?
If you’d like to sign up for this payment plan, the companies you can choose from are:
- Expedia – Expedia partnered up with Affirm to offer this installment plan on flights and hotel packages. Simply choose a flight and hotel package on Expedia and you’ll be presented with an option to pay monthly.
- Virgin Holidays – Like Expedia, this platform lets you distribute the whole cost of a trip over several months. Just set up a direct debit account and the money will be automatically deducted on a monthly basis.