A holiday loan is sometimes the only way to be able to go on your dream vacation. It’s easier to get than depositing funds to your bank account regularly. However, is it really a good idea to use it? Where is the best way to take such a loan? When is it worth doing? Advice!
How much do holidays cost?
Many people are looking forward to holiday trips. They are an escape from everyday duties and a chance to relax after long months of work. However, they are also a heavy burden on the family budget. In 2019, 41 percent of Poles planned to spend more than four thousand dollars on vacation.
According to a survey, 26% of respondents planned to spend four to nine thousand dollars on vacation. Among them were mainly young people between 18 and 22 years old. Older people, between 26 and 55 years of age, were ready to spend even more on holiday trips. Every fifth person in this age group declared that they planned to allocate over nine thousand dollars for this purpose.
Importantly, however, as many as 70% of respondents admitted that they had to regularly save for holiday trips. Therefore, every third person gives up going out of town or certain purchases, 15% take on additional work, 11% sell unnecessary things, and some also save on fuel and streaming platforms.
But what if you dream about a vacation, but you have not started to put aside money early? The solution can be a holiday loan! A holiday loan or installment holiday at a travel agency can give you the chance to fulfill your dream of rest.
Installment holidays in a travel agency or loan – what to choose?
One of the options that travel agencies prepare for their clients is installment holidays. The repayment of such holidays begins either at the time of purchasing the offeror immediately after returning from the holiday. The conditions for using such an offer are determined by each travel agency.
Therefore, installment holidays can cost you extra if the installments pay a high-interest rate or require expensive insurance. Travel agencies wanting to attract customers sometimes offer interest-free holidays in installments. The downside of the offer, however, may be a limited number of vacation destinations financed in this way, and thus a restriction on the choice of vacation destination.
What’s more, not every travel agency offers holidays in installments, which means that you may not be able to use the services of the office that you have used so far. The second option is a holiday loan, which you can spend at any travel agency. You can also use the loan funds for your own trip.
The limit may be the amount you can borrow. However, if you are a new customer, you can take advantage of the free loans that many loan companies offer. Often, however, these are payday loans, and therefore obligations that you will have to pay off immediately after returning from vacation.
Vacation loans abroad. Is it possible to take out a loan for a trip outside the holiday season?
If you are looking for a good loan for a holiday abroad, remember that it does not have to be so straightforward. An ordinary cash loan can be issued for any purpose. It can, therefore, be treated as a loan for a holiday abroad.
You can take out a loan at any time, not just during the holiday season. By most of the loan you will finance a trip also out of season.
Is a holiday loan a good solution?
A holiday loan is a good option if you want to leave and you don’t have enough savings saved. Thanks to it you will pay for example a favorable last-minute offer. On the other hand, you must remember that you will have to give back the funds shortly after your return. An unpaid loan may have unpleasant consequences for the borrower.
For most loan companies, you can benefit from a maximum thirty-day repayment period. If you fail to pay on time, you will remember your vacation for a long time because of problems with the debt collection company or bailiff.