Loans for cruises are financing solutions requested by those who want to make this particular form of vacation and prefer to pay the cost comfortably in installments. This type of financing, as well as loans for beach holidays, falls within the types of travel and holiday loans, of which it is practically a sort of “sub-category”.
Apply for cruise loans
From the moment you need loans for your cruise vacation, you have two alternatives. The first is to go directly to a financial company and get a certain amount of money to pay, in cash, for the holiday you are going to do. The second is to request holiday financing directly from your travel agency, which usually has agreements with one financial company rather than another and will be happy to handle all the files on behalf of the client. In this case, the relationship with the finance company is entirely handled by the travel agent and the customer is only responsible for repaying the loan.
Repayment of installments
The installments are to be repaid, as for all personal loans, by paying monthly installments at a fixed amount and rate. The duration depends on the client’s will and the financial provisions, but usually also reaches 12/24 months. It is possible to make the refund via RID (direct debit from current account) or through postal slips.
Almost all the major Italian and foreign cruise companies offer the possibility of applying for funding directly on their websites. Let’s see the possibilities offered by the most well-known cruise companies operating in Italy.
Best Company, a company of Genoese origin now belonging to the American Carnival, allows for 0% TAN financing. On the Costa website the loan is called “zero interest”, which is true, but one must be careful that this does not mean that the cost to be paid is exactly zero, since a loan (in general) in addition to the expense interest also has a series of ancillary costs (not counted in the TAN, but only in the APR) which in any case increase the cost of repaying the loan.
Best Company finances 75% of the total cost of the trip, therefore you have to pay 25% in your own travel agency and then you can apply for this holiday loan.
In any case, here are the characteristics of Best Company bank loans, so as to better understand the concept:
- Grantable amount: from $ 600 to $ 8.000
- First installment refund after 30 days
- Maximum duration: 10 or 12 months
Here is also an example of calculating holiday loan installment:
- monthly payment: $ 60.83
- duration: 10 months
- amount requested: $ 600
- total amount refunded: $ 632.30
- Fixed TAN: 3.01%
- APR: 12.50%
- stamp duty: $ 16
- monthly management costs: $ 0.80
Best Company Cruises
The cruise company Best Company, which flies the Panamanian flag, allows you to have loans for your cruise holiday with these characteristics:
- Grantable amount: not specified
- First installment refund: 30 days after the departure of the cruise
- Duration: 6 months
Both self-employed and employees, as well as pensioners up to 70 years of age can apply for loans to leave with Best Company Cruises. It is not possible to apply if you have no income. The minimum working length is 12 months.
Self-employed workers, only for amounts up to $ 4,000, must present, among the various documents necessary for the approval of the loan, also a sheet that proves the existence of the activity, such as registration with the Group of Lenders, the registration card to any professional registers or even simply the business card.
Employees and pensioners must instead present, respectively, a copy of the last paycheck or a copy of the last pension slip. The grant of the vacation loan for the cruise with Best Company is given by Prestitempo, a financial company belonging to the Best Company Bank.