Travel agencies allow vacation layaway

December 1, 2008 4:59:21 PM PST
ABC7 told viewers that Penny's and K-Mart were bringing back the lay away plan this holiday season, but now travel agencies are getting into the act.

Pick where you want to go, make a down payment and then make monthly payments. This allows you to lock in prices and dates now, without being dinged with interest charges.

Most of the plans allow consumers to cancel the trip and get their money back, but the consumer has to cancel well in advance.

Only a few travel companies are doing this now, but expect the big names to jump on this soon.