What Are Vacation Loans & How Do They Work?

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Are Vacation Loans?
How Do Vacation Loans Work?
Are Vacation Loans a Type of Personal Loan?
Typical Vacation Loan Terms
Principal Amount
Interest Rate
Repayment Term
Pros and Cons of Vacation Loans
Saving Up for a Vacation vs Taking Out a Loan
Finding and Applying for a Vacation Loan
Compare Rates
Compare Total Costs
Check Requirements
Alternatives to Vacation Loans
Personal Lines of Credit
Credit Cards
Point-of-Sale Travel Financing
Local Vacation or Staycation
Creating a Travel Budget
The Takeaway
Frequently Asked Questions
About the Author
Sulaiman Abdur-Rahman writes about personal loans, auto loans, student loans, and other personal finance topics for Lantern. He’s the recipient of more than 10 journalism awards and currently serves as a New Jersey Society of Professional Journalists board member. An alumnus of the Philadelphia-based Temple University, Abdur-Rahman is a strong advocate of the First Amendment and freedom of speech.
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