Startup will let you pay for flights in monthly installments
Sometimes the price tag on an plane ticket to your dream destination just has too many digits. But new startup Airfordable will allow you to pay for that ticket in monthly installments, just like you’re putting a new stand mixer on layaway.
Let’s say you stumble upon a great fare sale for your next potential vacation, but you don’t want to carry a credit card balance and don’t have enough cash to hand over. Airfordable will front the cash for you, as long as you can pay 30% of the fare cost up front. The company then provides a bi-weekly or monthly payment plan. The record locator and flight confirmation are not sent until the fare is paid in full, so this concept really only works if you have a lot of lead time before your travel date.
If you end up unable to uphold your side of the payment plan, there is always the option to pay a cancellation fee, which reimburses you – minus the cost of the initial 30%. Having to eat this cost might be a better alternative than paying a monthly interest rate that comes with charging a ticket to your credit card.
According to Joe Cortez of FrugalTravelGuy.com, this service could be helpful for someone working to recover their credit score or trying to remain within a pre-set budget plan and avoid splurges.
While some airlines allow fliers to lock in a price for a few days while they pull their funds together (check the sofa cushions, always check the sofa cushions), Airfordable provides an even better option for snagging a last-minute deal that might normally be out of your price range.