Would You Pay for a Flight on Layaway?

Layaway programs seem like such a retro way to pay for something — I remember going with my mom to pick out new bedroom furniture at a discount department store in the 80s, then going back a few months later to pick them up.

Layaway all but disappeared as a shopping option in the early 1990s, then started making a small resurgence during our most recent economic downturn. Today, layaway programs are available from select travel companies:

Disney

and

Gate 1 Travel

are two that offer pay-in-pieces programs to help you budget for a vacation.

The latest layaway venture for travelers? A startup called

Airfordable

that allows you to pay for airplane tickets on an installment plan.

It works like this: You send a screenshot of a flight you want to book to Airfordable, along with a nonrefundable deposit of a third of the fare, and the company purchases the ticket for you. The team at Airfordable then sets you up with a payment plan. As long as you submit all your payments in full before your flight date, you’re good to fly.

“Airfordable’s layaway plans for air travel [reiterate] that memories are priceless and global enrichment is key in becoming a well-rounded person,” company founder Ama Marfo wrote on the

Airfordable blog

. Marfo shared the story of how she, as a college student, couldn’t travel home to Ghana during the holidays because she couldn’t afford the air ticket costs all at once. That’s what motivated her to start this venture.



Related: 7 Mistakes to Avoid When Booking a Flight



Sounds like a nice option for those on a tight budget or those with high-interest credit cards who can’t pay off the cost of a ticket right away. But there are a few catches: Airfordable charges a 20 percent fee on top of the ticket price, and your desired flight cannot cost more than $2,000.

Would you try Airfordable?