Need some Financial Advice

[MartiniBarhooked]

Let me start by saying this is not a Celebrity Cruise but we are avid Celebrity cruisers and can always find good information on here.

My advice is needed for an upcoming final payment due date for a cruise.  The final payment is due 6 months out.  I have asked the company if they would push the date back from April 19th to something in July they said no.  The company if offering a full refund in future cruise credit if canceled at least 24 hours before the start of the trip.

But with that being said we are talking a $22,000 dollar trip.  As of right now I have a $1000 deposit down if I cancel before the final payment I would get back 800 cash and then the 200 in a future cruise credit I think.  With only knowing what you know right now or even next month what would you do?  Cancel now OR  Pay the final payment $21000.00  Which you can still cancel 120 days out and only loose the $200.  

[Bo1953]

I recommend that you take the $200 loss on the VO sailing.

 

If things get better between now and closer to sailing, you potentially can use that credit to re-book?

 

As you sound very apprehensive on several fronts, I believe this is the best course of sailing, as it were, for you for now.

 

bon voyage

 

p.s. - Come back to The Martini Bar... LOL

Edited March 5, 2020 by Bo1953

[Life Buoy]

I would agree with Bo1953. The  real risk is that prices go up rather than remaining the same or going down. If you really love your cabin you run the real risk of not getting it. However, with the current environment the odds are in your favor to get a better price, but in this case there seems to be no option and you are not getting any discount. I know you can't answer this question without violating the posting rules, but what TA wants final payment 6 months out? Now Crystal gives a discount if you pay in full 9 months out as an option. I'd look into other deals with other TAs if you decide to cancel.

[Bo1953]

Just now, Life Buoy said:

I would agree with Bo1953. The  real risk is that prices go up rather than remaining the same or going down. If you really love your cabin you run the real risk of not getting it. However, with the current environment the odds are in your favor to get a better price, but in this case there seems to be no option and you are not getting any discount. I know you can't answer this question without violating the posting rules, but what TA wants final payment 6 months out? Now Crystal gives a discount if you pay in full 9 months out as an option. I'd look into other deals with other TAs if you decide to cancel.

It is not a TA, it sounds like Viking Ocean (VO)...

 

bon voyage

[janetz]

6 Months out?

That I have never heard of 😟

Edited March 5, 2020 by janetz

[Life Buoy]

1 minute ago, Bo1953 said:

It is not a TA, it sounds like Viking Ocean (VO)...

 

bon voyage

I reread the OP's comment and he says "it's not Celebrity" so you are once again correct. Why would the OP post on the Celebrity board? 

[MartiniBarhooked]

Just now, Life Buoy said:

I know you can't answer this question without violating the posting rules, but what TA wants final payment 6 months out? Now Crystal gives a discount if you pay in full 9 months out as an option. I'd look into other deals with other TAs if you decide to cancel.

Not a TA  it is Viking which when I originally booked they wanted full payment a year out. Negotiated it down to 6 months back then. And if we did re book I probably would drop down a cabin or two. 

[Bo1953]

1 minute ago, janetz said:

6 Months out?

That I have never heard of 

Yes, and I have heard there are a few lines which require payment in full, one (1) year out...

 

bon voyage

[MartiniBarhooked]

6 minutes ago, Life Buoy said:

I reread the OP's comment and he says "it's not Celebrity" so you are once again correct. Why would the OP post on the Celebrity board? 

Because I like the people on here have cruised with some of them and it is not a cruise line question it is a financial question. 'really doesnt matter who the cruise line or the world problem it is simply what would you do right now or in the next month.

Edited March 5, 2020 by MartiniBarhooked

[Life Buoy]

I would still cancel. Not only the coronavirus, but the drop in the stock market might force a lowering of prices. People might begin to reevaluate their spending.

[dani negreanu]

5 minutes ago, Life Buoy said:

People might begin to reevaluate their spending.

 

This.

[golubika]

 I would cancel 100%

[az_tchr]

Absolutely cancel. Agree with Bo you sound nervous. Thus cancel. The current situation will eventually settle.  You are not likely to find higher pricing for a while. People will not likely immediately begin traveling.

[JFontaine]

Something else to consider:  I don't know what else Viking owns, or who owns them, but some companies will go bankrupt over this (one low cost air carrier did today).  If Viking goes under,  you will become an unsecured creditor, likely holding a worthless claim for $22,000.  Again, I know nothing about their financial health, but I would not want to be in that position, however remote. 

[JFontaine]

One more thing - even if they do survive this financially, why make a $22,000 interest free loan to them (by letting them keep your money)?  Let the money sit in your bank account - safely - even if you earn just $100 on it. 

Edited March 5, 2020 by JFontaine

[Fouremco]

If I understand correctly, you have until April 19 to make up your mind. In your shoes, I would hold off any final decision until very close to that date. But barring a sudden reversal in the spread and impact of COVID-19 during the month ahead, I'd be preparing myself to cancel.

[tomcruiser1234]

Run for the door...you can always rebook

[tomcruiser1234]

Oops didn’t see she has till April 15. I would wait till then

[kerryincork]

For that money I think I would cancel now. And see if you can pick up a last minute cruise nearer your sail date.

 

It's very unpredictable at the moment. Maybe they get this under control I would think cruise lines, would entice cruisers back with all sorts of perks

 

[cruise kitty]

Personally, I would wait until just before your april 19th deadline to pull the trigger on cancelling.

That's a full 6 weeks from now, & will give everyone a good idea of how bad (or not) the situation will get.

 

If  I had to pay for my May 2021 cruise in full right now, I would more than likely cancel,   it's booked for the amazing itinerary, & not cheap.   Being that I have 11 months before final payment, I feel pretty secure about keeping my booking. 

 

Best wishes to the OP

[Cruise Junky]

I just cancelled a $20,000 Windstar cruise this morning.  Cruise Lines are just getting killed right now and I only see it getting worse.  I can always rebook.

[Bo1953]

1 hour ago, MartiniBarhooked said:

Let me start by saying this is not a Celebrity Cruise but we are avid Celebrity cruisers and can always find good information on here.

My advice is needed for an upcoming final payment due date for a cruise.  The final payment is due 6 months out.  I have asked the company if they would push the date back from April 19th to something in July they said no.  The company if offering a full refund in future cruise credit if canceled at least 24 hours before the start of the trip.

But with that being said we are talking a $22,000 dollar trip.  As of right now I have a $1000 deposit down if I cancel before the final payment I would get back 800 cash and then the 200 in a future cruise credit I think.  With only knowing what you know right now or even next month what would you do?  Cancel now OR  Pay the final payment $21000.00  Which you can still cancel 120 days out and only loose the $200.  

I vote for waiting a full seven (7) days before final payment before actually cancelling...

 

This way you have a better idea as to how things are getting on.

 

Then see how comfortable you are with a FCC... at that cost, I would consider one of the upper suites on X, but I understand that VO is a very different line and can offer things which appeal to you and many others, as many of their ships sail full despite the one (1) year out final payment dates.

 

They have to have a great product if many passengers are willing to do full payment that far out...

 

Let us know as time gets closer what your thoughts are and final decision...

 

bon voyage

[MartiniBarhooked]

Bo     just to clarify it is a River Cruise           Amsterdam to Budapest    Explorer Suite, Business Air, 2day pre extension.  

[Baron Barracuda]

Sounds like you are booked on the Grand European river tour.  We just made final payment last week on a July sailing for that itinerary.  Why?  Because we got a good price including free r/t air and Viking is allowing customers to cfar up until 24 hours before sailing and receive 100% refund in the form of a fcc good for 24 months.  We've sailed Viking before and really like them so have no problem receiving fcc instead of cash.  We plan to sleep soundly for the next three months and then make a last minute go / no go decision.  At the moment have no idea what we'll do.  Would certainly have cancelled if Viking had not extended this classy and generous offer.

[Bo1953]

1 hour ago, MartiniBarhooked said:

Bo     just to clarify it is a River Cruise           Amsterdam to Budapest    Explorer Suite, Business Air, 2day pre extension.  

m - thank you, the same approach, from my perspective, still applies in terms of thinking about cancelling for health and/or financial reasons.

 

bon voyage