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-   -   Final Payment for a Cruise (http://www.cruisereviews.com/forum/general-cruise-chat/31031-final-payment-cruise.html)

catiemor 11-03-2007 05:17 PM

Is there any advantage to paying for your cruise earlier than the deadline given for the final payment?

Cate M.

catiemor 11-03-2007 05:17 PM

Is there any advantage to paying for your cruise earlier than the deadline given for the final payment?

Cate M.

Sonny V 11-03-2007 05:41 PM

There is NO advantage that I know of.

Sonny

LisaP 11-03-2007 05:44 PM

None. If you have the money available, I'd suggest putting it into an interest-bearing bank account that has no withdrawal penalties, and then holding off until the final payment deadline. You will earn just a few bucks, but should there be a price reduction for which you qualify, it's a lot easier for them to adjust your final payment amount than to cut you a refund check.

TrvlPro 11-03-2007 06:51 PM

There are times and circumstances where there may be an advantage. I work for and American agency but we book for people all over the world. I have many Canadian clients, the charge made at the time of booking is converted at that days exchange rate. When the payoff is done the same process occurs. With the U.S. dollar's recent drops, the CA dollar is actually at a positive exchange rate for the first time in decades. Paying off a cruise right now represents some significant savings over what it was a short time ago. If the trend continues, the value will continue to increase. If suddenly the US dollar rebounds the saving would be gone. Same situation with the pound and euro right now. Very attractive exchange rates.

If you are in a counrty outside the US and booked with a US T/A, you have some speculation to do. Is the dollar going to continue to drop? If you think so, don't pay off your cruise until the final date. Will the US dollar rebound? If you think so, pay off now. There could be some serious saving if you guess right.

Cheers, Neil

gdjoslin 11-03-2007 09:48 PM

Cruise West gives you a credit for paying it off early. Not sure about other Cruise Lines. I never pay off early, non I have booked with offer any advantage.

Sonny V 11-04-2007 05:29 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by TrvlPro:
There are times and circumstances where there may be an advantage. I work for and American agency but we book for people all over the world. I have many Canadian clients, the charge made at the time of booking is converted at that days exchange rate. When the payoff is done the same process occurs. With the U.S. dollar's recent drops, the CA dollar is actually at a positive exchange rate for the first time in decades. Paying off a cruise right now represents some significant savings over what it was a short time ago. If the trend continues, the value will continue to increase. If suddenly the US dollar rebounds the saving would be gone. Same situation with the pound and euro right now. Very attractive exchange rates.

If you are in a counrty outside the US and booked with a US T/A, you have some speculation to do. Is the dollar going to continue to drop? If you think so, don't pay off your cruise until the final date. Will the US dollar rebound? If you think so, pay off now. There could be some serious saving if you guess right.

Cheers, Neil </div></BLOCKQUOTE>
When I was on the Liberty last week 65% of the passengers were international. I can't recall hearing so many foreign languages on any of my other cruises. Maybe the exchange rate is the reason.

Sonny

Hank 11-04-2007 08:24 AM

Actually, there are some very good reasons for never paying the final payment early. We book a lot of cruises (about 5 or 6 a year) and generally shop for the best price. When cruise lines drop their price (this happens a lot) for a cruise you have already booked, its usually possible for your travel agent to get you the lower price up until you make the final payment (RCI and Celebrity sometimes will give you a lower price after final payment). We usually have about 5 cruises under booking at any time, and the norm is that we will constantly monitor the latest prices, promotions and sales. This saves us thousands of dollars per year, and usually its just a matter or calling or e-mailing our TA to get a lower price. If we had made that final payment in advance, many cruise lines would refuse to lower the price. One other tip. Always pay for your cruises with a major credit card (which should be processed by the cruise line....not the TA). This gives you protection against TA fraud or even a bankrupt cruise line (happened to us with the old Regency cruise line).

Hank

TrvlPro 11-04-2007 01:22 PM

The only line that has different rules for paid in full booking vs deposit booking for lowering rate prior to penalty (at least the only on I'm aware of) is HAL. The rest will simply credit your card for the difference of the drop.

As you mentioned, RCI and Celeb will typically drop your price even inside penalty and Carnival will as well. The one day sale promotions are usually the only promos that they exclude from being dropped on existing bookings. It's always worth a call to find out though.

Cheers, Neil

Novice Senior 11-06-2007 11:06 AM

TRV/PRO, would you please explain how HAL works should prices be lowered after final payment is made?

Thanks in advance,

Ruth


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