You can plan a dream vacation on any budget with layaway travel options.
Layaway has long been considered the preferred option for people looking for luxury on a tight budget. Retail stores traditionally offer layaway plans, as do furniture and appliance dealers. The one industry that one does not think of when considering layaway is the travel industry. A 2008 article in USA Today ("Vacation Layaway Plans Take Flight Again") suggests that vacation layaway options are more prevalent during economic downturns similar to that of the 2008 Mortgage Crisis. In truth, the option is always available. You just have to know what you are looking for.
How it Works
The travel layaway options work much like the retail store plans. The vacationer selects the options for a trip first. This can be the complete package from plane tickets to hotel, rental cars and event passes or a partial package of the hotel stay and round-trip airplane tickets. Once the trip is planned, the vacationer must make a deposit, which is a percentage of the total price for the trip. The agency offering the vacation layaway also offers payment schedules, requiring periodic and equal payments that will pay off the balance of the trip by the departure date. The payment schedule usually takes place over 12 months, but can vary according to the agency offering the layaway as a travel option.
Additional Benefits
Prepaying for your vacation is not the only advantage of a vacation layaway. Travelers on a budget use this option to lock in special rates. The layaway schedule and payments are based on the price of the trip on the date the plan was created. The plans are offered by resort hotels, theme parks with partner hotels and travel agencies. They work deals to provide trips at the lowest possible rate. Everyone involved with the trip, from the airline down to the rental car agency, agrees to accept the price negotiated on the date that the layaway plan was initiated. This is a boon for travelers, especially when the value of the trip increases in the time it takes to pay it off. The traveler actually saves money by planning ahead and using the layaway option.
Stipulations
The layaway vacation option has deadlines for paying off the trip. Most require payment in full with 30 to 60 days before the departure date. Some plans let you cancel the layaway plan and will refund you money minus a small fee. However, others do not refund the initial deposit. Not all fees are covered by the package. Each traveler must read the plan carefully to see if fees such as excise taxes, insurance, meals, baggage and other incidentals are covered by the layaway plan.
Considerations
You don't have to book your entire vacation using a travel agent's package or through one agency. Look for layaway options offered by cruise providers, airlines, resort hotels, theme parks, and other specialty agencies. You can layaway the plane tickets with the airline, get the rooms on a plan through the cruise line and take care of the other items on your trip just before you leave. Doing this helps get the "big ticket" items paid for well before the trip.
Tags: layaway options, layaway plan, agency offering, departure date, hotels theme, hotels theme parks, layaway travel