Differences in reservation deposits

[Markanddonna]

We've just booked a Celebrity cruise using the Cruise Next $200 certificate. We wish to book an RCL cruise and know that they are $900 for a nonrefundable fare. Are the other cruise lines similar in cost?  That is a lot of money to plunk down on a cruise 9 months in the future. How do NCL, MSC, and all the Carnival lines measure up?  Thanks.

[caribsun]

I just received a offer from Carnival for $50.00 deposit. The cruise industry is always changing their down payments. 

[navybankerteacher]

21 minutes ago, Markanddonna said:

We've just booked a Celebrity cruise using the Cruise Next $200 certificate. We wish to book an RCL cruise and know that they are $900 for a nonrefundable fare. Are the other cruise lines similar in cost?  That is a lot of money to plunk down on a cruise 9 months in the future. How do NCL, MSC, and all the Carnival lines measure up?  Thanks.

The real cost to you of a $900 deposit for a cruise a year in the future is perhaps $45 (assuming 5% lost interest income)  — not that much for securing a sure thing.  Of course if you are not serious, you are looking at a potential $900 cost—- but that is an offer the line only makes to serious bookers.

[Markanddonna]

1 hour ago, navybankerteacher said:

The real cost to you of a $900 deposit for a cruise a year in the future is perhaps $45 (assuming 5% lost interest income)  — not that much for securing a sure thing.  Of course if you are not serious, you are looking at a potential $900 cost—- but that is an offer the line only makes to serious bookers.

We follow through on the vast majority of our bookings, but things come up that are only covered by "cancel for any reason" policies. I know the cruise lines are trying to protect themselves from those who book several cruises during the same time period and then cancel most of them.

[navybankerteacher]

1 hour ago, Markanddonna said:

We follow through on the vast majority of our bookings, but things come up that are only covered by "cancel for any reason" policies. I know the cruise lines are trying to protect themselves from those who book several cruises during the same time period and then cancel most of them.

Agree - “cancel for any reason” coverage is expensive.  So we have to try to make an informed guess: do we really want to go on a particular sailing , and do we think prices are likely to go up  in coming months?
 

We essentially see ourselves as doing one of two types of cruise:  one we specifically want - which we will likely book well in advance, paying whatever is necessary to secure the cabin we want, or a last minute sailing which catches our eye - fares are acceptable, other travel arrangements are workable - and we hit the “go” button all within a week or so of sailing.

[sverigecruiser]

 

I paid a little more than $1000 in December 2019 for our MSCcruise in July. Most of that was deposit but insurence if we NEED to cancel was also included in that. I think that the non-refundable deposit is 15% of the cruisefare.

[donaldsc]

7 hours ago, navybankerteacher said:

The real cost to you of a $900 deposit for a cruise a year in the future is perhaps $45 (assuming 5% lost interest income)  — not that much for securing a sure thing.  Of course if you are not serious, you are looking at a potential $900 cost—- but that is an offer the line only makes to serious bookers.

 

It is actually less than $45.  9 months is 3/4 of a year so your 5% per year comes out to 3.76%.  Also your final payment is due before you sail so that knocks off some more money and gets you down to maybe $25. 

 

Finally if the OP was sailing on Viking they would really complain.  Viking gets full payment due 1 full year before sailing.  Not a deposit but full payment.  Viking does tend to sail full so the people who sail Viking including me don't seem to care.  

 

In the end you pays me now or you pays me later.

 

DON

[Mum2Mercury]

I'm with those who say the lost interest is next to nothing -- maybe the cost of a modest dinner out.  A larger down payment isn't a larger cost:  It's just more paid up front.  

[Hlitner]

Each line has their own policy.  Consider that Viking Ocean wants full payment within 30 days of booking.  Oceania starts their penalty period 180 days prior to a cruise.  In fact, most of the luxury lines require large deposits and early full payment.  Why?  Because they can and it keeps out the "riff raff" bookers who seem to make a hobby out of booking many cruises they never intend to take.  We have even met folks who will book 2 or even 3 cruises for the same time, and intend to cancel a few around final payment.  They do this because they cannot make up their minds and want to hold certain cabins just in case they later decide to actually take a specific cruise.

 

I will also admit to being in favor of high deposits and early final payment.  We do take the cruises we book, and do not appreciate the faux bookers (ones who never cruise) taking many of the best cabins/suites out of inventory.

 

Hank

[navybankerteacher]

On 6/28/2023 at 5:02 PM, donaldsc said:

 

It is actually less than $45.  9 months is 3/4 of a year so your 5% per year comes out to 3.76%.  Also your final payment is due before you sail so that knocks off some more money and gets you down to maybe $25. 

 

Finally if the OP was sailing on Viking they would really complain.  Viking gets full payment due 1 full year before sailing.  Not a deposit but full payment.  Viking does tend to sail full so the people who sail Viking including me don't seem to care.  

 

In the end you pays me now or you pays me later.

 

DON

The point is:  people who complain about having to make a significant deposit (perhaps because they like to make faux bookings to keep options option) just make things difficult for others- by holding cabins off the market or falsely creating demand which is not there - tending to force prices up.
 

I have little sympathy.

[SPacificbound]

The way I look at deposits is, I have less to pay at final payment. But if some book multiple cruises knowing they can't take them all, then I guess they would be looking for low deposits.