Taking Out A Loan To Fly?

Discussion in Travel started by ExpertAdvice • Oct 5, 2014.

  1. ExpertAdvice

    ExpertAdviceActive Member

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    Have you ever taken out a loan so that you could afford yourself the opportunity to travel overseas?

    Traveling can be really expensive, especially when you and your family are making plans to venture out to a destination that is located a far distance away from your "homeland", or that is quite a luxurious site, known for the high rates associated with traveling there.

    Whatever may be the reason, we all have to admit that sometimes, even finding the funds to buy the cheapest tickets can become a serious drag on the pocket of most people.

    Recently, I came across an article that showcased what seems to be "the latest" in luxurious flight offerings, with delicacies such as caviar being featured on the menu, and even a double-bed option being offered within the steepest-priced package.

    The cost: oh, a mere $18,000, and the person who was able to provide this beautifully appealing review on the benefits of flying "above first class" was able to access his ticket based on racking up fly miles to defer the cost.

    So, what extent would you be willing to go to in order to enjoy the "luxury" of traveling?

    travel.
     
  2. H.C. Heartland

    H.C. HeartlandActive Member

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    Yes, sadly, I have had to take a loan out to fly in that it was on my credit card and I could not pay it off until I returned home to work. I do not think this is a wise choice. The vacation would have been enjoyed much better if I had the money but I can see why people do it. We were doing a volunteer work and had a family function we really wanted to be home for. We had not been home for 3 years at the time and really felt like we needed a vacation. Thankfully, while home we were able to work to pay off the trip and so we returned without being in debt. But its a big risk to take and I was stressed about paying off the credit card the entire time I was home. So yes, I have done it but I do not advise it. That being said, I will probably end up having to do it again one day. Its hard to save up enough money when we are home for the 'next trip' - we usually manage to save up about half of what we need and then work to save up the rest when we arrive.
     
  3. chiofthenorns

    chiofthenornsActive Member

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    Loans are very tempting. I know some people who have taken out loans just to travel. Sadly, they weren't to able to pay their loans back. I think that you should only do this if you really have no money. If you will just take out a loan to be able to afford stuff abroad, then I suggest that you don't.
     
  4. Denis Hard

    Denis HardWell-Known Member

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    That's the worst mistake anyone can make. You won't die if you don't travel so why force it if you don't have the money? It's better to stay home instead, work [you could even get a second job, if you can], save and when you have enough money travel wherever you please without having to worry about the interest you'll pay on borrowed money.

    p.s I've heard that some people take loans so the debt can motivate them to work harder but I wonder if that really works.
     
  5. Danyel72

    Danyel72Active Member

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    I guess I should say yes... kind of. We don't actually take out a loan to fly or go on vacation, but we have had to use a credit card to pay for a trip and then pay it off later. We try to do that on a credit card that has no interest and pay it off so we don't have to pay any extra. That tends to work for us.

    We have a large family of 6, so flying and going on vacation is always very expensive. This way we can still enjoy family time together but not have to pay for it all at once. Paying over 8 months is much more do able and helps with our budget!

    Hope this helps!!

    Danyel :)
     
  6. troutski

    troutskiWell-Known Member

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    I would never take out a loan in order to finance a flight/vacation. However, using credit cards for some of the expenses makes far more sense. It's far easier and more manageable to pay off a few charges on a credit card than it is to handle an entire loan that's probably for more money. If you pay for a whole trip with a loan or credit advance alone, then you're making a huge mistake.
     
  7. akiii123

    akiii123Active Member

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    Luckily, I never had to take a loan to fly. I think it is never advisable to take a loan to fly as it can be really risky. Once you go out of station using the loan money, you never know what would happen in the region. It is never safe to take a loan from others and go away from the place. It is going to be really tough at times.