RedWeek.com, the largest online community for timeshare rentals and resales, announced a new partnership with Affirm that will give travelers the flexibility to pay for their vacation rentals in simple, monthly installments.
RedWeek's integration with Affirm makes vacationing easier and more affordable than ever, giving members the ability to split up payments on a schedule that best suits their needs. Travelers can check eligibility for a loan online before booking their next trip and, after entering five simple pieces of information, receive a real-time decision without impacting their credit scores.
Once approved, travelers can optimize their monthly payments to fit their financial needs by selecting a repayment term of six, 12 or 18 months. Travelers are then shown the exact amount they'll owe each month with the interest displayed in simple dollars, rather than as a hard-to-calculate percentage. For example, a $2,000 timeshare rental at 10% APR spread out over six months would cost $343.12 per month, totaling $2,058.74. Plus, there are no hidden or late fees.
"We understand that vacations can be expensive. So, we wanted to offer a new financing option to our members that didn't require a high credit card balance," says Maurice Aubrey, President of RedWeek. "We decided to partner with Affirm because of their transparent and streamlined loan approval process."