dchurchward Posted September 19, 2018 #1 Share Posted September 19, 2018 Since I am cruising in July 2019 next year, my final payment is not due until April. I was wondering if there are any reasons to make the final payment early, or if it makes more sense to invest the money, and pay closer to the final payment date? It seems to me that the advantage of paying early would mostly relate to not facing an unexpected expenditure that requires you to use the money, but I don't see any other reasons. Am I more likely to see sales on the beverage and dining packages, shore excursions, etc.? The only real downside to paying it late is if the payment somehow didn't get applied in time and you lost your reservation. Since I'm going through a TA, that possibility seems remote. Any thoughts from the experts here? Link to comment Share on other sites More sharing options...
Clarea Posted September 19, 2018 #2 Share Posted September 19, 2018 ... Am I more likely to see sales on the beverage and dining packages, shore excursions, etc.? ... No, there's no relationship between paying off the cruise and getting sale prices. Link to comment Share on other sites More sharing options...
AlanF65 Posted September 19, 2018 #3 Share Posted September 19, 2018 Since I am cruising in July 2019 next year, my final payment is not due until April. I was wondering if there are any reasons to make the final payment early, or if it makes more sense to invest the money, and pay closer to the final payment date? It seems to me that the advantage of paying early would mostly relate to not facing an unexpected expenditure that requires you to use the money, but I don't see any other reasons. Am I more likely to see sales on the beverage and dining packages, shore excursions, etc.? The only real downside to paying it late is if the payment somehow didn't get applied in time and you lost your reservation. Since I'm going through a TA, that possibility seems remote. Any thoughts from the experts here? My cruise is through a big box store so with the 2% cash back on the credit cardfor travel and 1% for executive I will pay before the end of the year so I get the cash back in Feb and use that for excursions. I don't earn anything like that on liquid cash so for me why wait. Link to comment Share on other sites More sharing options...
dchurchward Posted September 19, 2018 Author #4 Share Posted September 19, 2018 My cruise is through a big box store so with the 2% cash back on the credit cardfor travel and 1% for executive I will pay before the end of the year so I get the cash back in Feb and use that for excursions. I don't earn anything like that on liquid cash so for me why wait. Thanks, that is a good point that I didn't consider. Link to comment Share on other sites More sharing options...
cruisefan0110 Posted September 19, 2018 #5 Share Posted September 19, 2018 Funny you posted this today. I paid off our cruise a bit early today and I have been making regular payments for a while now. That 0.25% saving rate didn't provide much incentive to keep it there. Link to comment Share on other sites More sharing options...
Rare FionaMG Posted September 19, 2018 #6 Share Posted September 19, 2018 I was wondering if there are any reasons to make the final payment early, or if it makes more sense to invest the money, and pay closer to the final payment date? I know it wouldn't make a difference to you, as you're in the US, but we chose to make final payment early to take advantage of a - for us - very favourable euro/usd exchange rate, which saved us around 60 euros on what we were expecting to pay. Link to comment Share on other sites More sharing options...
Desert Cruizers Posted September 19, 2018 #7 Share Posted September 19, 2018 I always pay off my cruise within 2 months of final. I also have a separate acct for cruising so the money isn't coming out of my house acct. I call my TA when I want to make final and she in turn calls the cruise lines. if I have more then 1 cruise to pay off, I do a spreadsheet and set up my payments, dates to pay and amount. I will try and make payments toward a cruise depending on its total, in 2 to 3 payments after deposit up to final. Link to comment Share on other sites More sharing options...
suesnake2002 Posted September 19, 2018 #8 Share Posted September 19, 2018 I had booked a harmony suite under the old rules (sailed march 2018) I paid it off 6-7months early. As we got to the 5 month mark royal was offering obc to pay off cruise. I missed out on that. I now have my last cruise booked under old rules, april of 2019. Final payment is due dec 27. I will wait til dec to pay off my $67 balance. Lol Sent from my SAMSUNG-SM-N920A using Tapatalk Link to comment Share on other sites More sharing options...
smplybcause Posted September 20, 2018 #9 Share Posted September 20, 2018 For all things, if someone's giving me a 0% loan (or more or less similar) I'm not paying it early. My savings accounts aren't earning a lot but they're certainly earning more than if I give it to royal early! But I put money aside in a vacations account so I don't have to worry about spending it. Not to mention if I prepay but then have to cancel! No desire to deal with a company to get money back unless I have to. Sent from my SM-G960U using Tapatalk Link to comment Share on other sites More sharing options...
maryjaden Posted September 20, 2018 #10 Share Posted September 20, 2018 With one exception I usually pay for my cruise when I book it. I do watch for price drops and have received refunds without any problems. It's just one less thing to worry about. Link to comment Share on other sites More sharing options...
George C Posted September 20, 2018 #11 Share Posted September 20, 2018 I do not wait to last day but always wait till we are about a weeks before final payment, why should I let them hold my money Link to comment Share on other sites More sharing options...
AlanF65 Posted September 20, 2018 #12 Share Posted September 20, 2018 I do not wait to last day but always wait till we are about a weeks before final payment, why should I let them hold my money I would do this but my final payment is due 1-31 to TA (2-14 to Royal). My statement cycles on about the 8th so I will charge in November after the 8th and pay off in Dec to get the cashback in Feb for my May cruise. So 55-60+ days early to add to my cash back. Nowhere else am I going to get 3% on parked cash for 60 days. Link to comment Share on other sites More sharing options...
Desert Cruizers Posted September 20, 2018 #13 Share Posted September 20, 2018 I would charge larger payments on the balance by having the cruise acct, but it is down so haven't been able to use it toward the upcoming Hawaii cruise but will still pay off in two additional payments after deposit. Final will be called in next month which is due Dec 9th. The daughter is also paying me for her cost. Link to comment Share on other sites More sharing options...
grandgeezer Posted September 20, 2018 #14 Share Posted September 20, 2018 Funny you posted this today. I paid off our cruise a bit early today and I have been making regular payments for a while now. That 0.25% saving rate didn't provide much incentive to keep it there. I have a money market account through Capital One that pays 1.85% I see no advantage to paying off early. My travel agent just has my credit card on file and gives that to the cruise line. 46 for 46 times it's worked so I don't worry about it getting paid. Cash flow is no problem anyway. Link to comment Share on other sites More sharing options...
suesnake2002 Posted September 20, 2018 #15 Share Posted September 20, 2018 I have the capital one too. Rate keeps inching up. Money never comes out of that acct Sent from my SAMSUNG-SM-N920A using Tapatalk Link to comment Share on other sites More sharing options...
time4u2go Posted September 20, 2018 #16 Share Posted September 20, 2018 Funny you posted this today. I paid off our cruise a bit early today and I have been making regular payments for a while now. That 0.25% saving rate didn't provide much incentive to keep it there. If you're only getting 0.25% return on your investments, then you should probably consider other investments! :D I see no reason to pay it off early. I prefer to leave as much of my money invested as long as possible. No reason to let RCI use my money before I have to! Link to comment Share on other sites More sharing options...
pcur Posted September 20, 2018 #17 Share Posted September 20, 2018 I pay ours off early to get the Chase Sapphire points. Then, I either transfer points to my Southwest account to pay for domestic air, or I use the points as a statement credit to reimburse for air purchased on another airline. The cruise payment AND the airline (cash) charge both get me double points. I haven’t paid full price for air in years. Link to comment Share on other sites More sharing options...
dani negreanu Posted September 20, 2018 #18 Share Posted September 20, 2018 I know it wouldn't make a difference to you, as you're in the US, but we chose to make final payment early to take advantage of a - for us - very favourable euro/usd exchange rate, which saved us around 60 euros on what we were expecting to pay. I agree with that completely. I've paid off my next cruise (December) in April, taking advantage of a low $. A month ago, there was a nice price drop, and I've been reimbursed the 300$ difference in 3 days (to my credit card). Besides, the interest rate here is 0% ....:( Link to comment Share on other sites More sharing options...
Rare John&LaLa Posted September 20, 2018 #19 Share Posted September 20, 2018 I had booked a harmony suite under the old rules (sailed march 2018) I paid it off 6-7months early. As we got to the 5 month mark royal was offering obc to pay off cruise. I missed out on that. I now have my last cruise booked under old rules, april of 2019. Final payment is due dec 27. I will wait til dec to pay off my $67 balance. Lol Sent from my SAMSUNG-SM-N920A using Tapatalk Oasis did that last fall for a few sailings. Pretty sure it only applied to JS and higher then. Sent from my SM-G965U using Tapatalk Link to comment Share on other sites More sharing options...
Rare John&LaLa Posted September 20, 2018 #20 Share Posted September 20, 2018 If you're only getting 0.25% return on your investments, then you should probably consider other investments! :D I see no reason to pay it off early. I prefer to leave as much of my money invested as long as possible. No reason to let RCI use my money before I have to! Not all investments increase in value. [emoji33] Sent from my SM-G965U using Tapatalk Link to comment Share on other sites More sharing options...
The Fun Researcher Posted September 20, 2018 #21 Share Posted September 20, 2018 I pay it off early just so I don't have it to think about in the back of my mind. I don't like to think about missing final payment, or when it's due. Dan Link to comment Share on other sites More sharing options...
Tin can Posted September 20, 2018 #22 Share Posted September 20, 2018 I had booked a harmony suite under the old rules (sailed march 2018) I paid it off 6-7months early. As we got to the 5 month mark royal was offering obc to pay off cruise. I missed out on that. I now have my last cruise booked under old rules, april of 2019. Final payment is due dec 27. I will wait til dec to pay off my $67 balance. Lol Sent from my SAMSUNG-SM-N920A using Tapatalk Thats interesting about the OBC offer for paying off a balance early, I have not heard of that before. Link to comment Share on other sites More sharing options...
grandgeezer Posted September 20, 2018 #23 Share Posted September 20, 2018 Not all investments increase in value. [emoji33] Sent from my SM-G965U using Tapatalk Just pick one that does CDs, money market, etc. Link to comment Share on other sites More sharing options...
Rare John&LaLa Posted September 20, 2018 #24 Share Posted September 20, 2018 Just pick one that does CDs, money market, etc.I was thinking they might be playing the market. A 2% CD really isnt investing to me. I can get a 3 month CD at that rate. 5 grand at 2% for 3 months nets around $25. Hardly worth the effort. Sent from my SM-G965U using Tapatalk Link to comment Share on other sites More sharing options...
Rare sparks1093 Posted September 20, 2018 #25 Share Posted September 20, 2018 I also make payments and if I can make the final payment before the final payment date then it's one less thing to worry about. Link to comment Share on other sites More sharing options...
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