Name: PayLater Travel
Brand: PayLater Travel
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There are several factors to consider when booking flights, including travel dates, airline choice, layovers, baggage allowances, ticket types, and lastly, but arguably one of the most important, price.

While there isn’t an exact science to securing the cheapest airfare possible, there are steps you can take to try and secure the plane ticket that suits your budget and travel plans.

We’re diving into everything you need to know about the best time to buy flights, including the best days of the week to fly and ways to get a cheap plane ticket.

How does ticket pricing work?

Let’s kick off by discussing how airfare pricing works. Ticket prices are driven by dynamic pricing, which takes into account things like demand, seat and flight availability, seasonability, competitor pricing and even historical booking data. As a result, ticket prices fluctuate daily, multiple times a day, depending on these variables.

These algorithms are incredibly complex and continue to influence the ticket cost right up until the departure date. This means that as tickets sell and flight availability dwindles, the remaining tickets continue to increase in price.

Unfortunately, that does mean the myth of last-minute flights being cheaper is just that, but there are ways to get more budget-friendly tickets, which we’ll explore further below.

When is the best day to book flights?

Speaking of travel myths, it’s long been believed that the cheapest day of the week to book flight tickets is Tuesday. While Tuesday may have been the best day to score a cheaper airfare at some point, it’s not the case these days.

The day you fly is more important than the day you book

It’s no longer about what the best day to book flights is, but it’s about the departure day. While buying your ticket on a Tuesday won’t result in a cheaper airfare, flying on a Tuesday could make a difference.

Choosing a midweek departure, like a Tuesday or Wednesday, or at the end of a week, like a Sunday, can make tickets a little more affordable. If you can be flexible with the day you travel, be sure to have a look at how ticket prices change depending on the day of the week.

The time of day you fly also impacts prices. Early morning flights are often lower in price compared to lunchtime or nighttime flights. While a 6am flight might feel tough when your alarm goes off, it may allow you to save a little money in the process.

When is the cheapest time to travel?

Seasonality plays an important role in ticket prices, with certain times of year more expensive than others. For example, busy periods, like summer and school holidays, and major holidays like Thanksgiving and Christmas, cause airfares to rise as there is an increased demand.

If you’re travelling around December, when lots of people are on the move for Christmas and holidays, it’s expected that it’s going to cost more than it would during a more innocuous season like March.

This is what we call on-peak vs off-peak. The cheapest time to travel is generally off-peak seasons as flight prices tend to be more affordable. Although this does depend on your destination.

For example, while it might be a bit cheaper to travel in winter months, if you’re flying somewhere warm, like Hawaii, these tickets are probably going to be fairly steep as the demand increases as people flock to warmer places to holiday.

Being flexible with your travel dates can help you save some money on airfares, so be sure to check out off-peak seasons and see what days of the week for departure are most affordable.

How far in advance should you book?

Booking a flight in advance can help you save a few dollars and we can confirm that this is definitely not a travel myth. According to Paylater data, you tend to get the best flight deal when buying tickets 3-6 months in advance.

Planning months ahead isn’t always possible, but if you are eyeing up a big overseas trip, we suggest scooping up your plane ticket sooner rather than later.

Booking domestic flights vs international flights

While we now know what the data says, this can differ slightly when we separate domestic and international flights.

With domestic flights, which are often high-frequency flights, you can generally afford to book these a little later. The recommendation for the best price is to book around 1-3 months before your departure.

For international flights, you’ll want to lock in your ticket at least 3 months before your trip. Doing this means you tend to get the best price possible, so it’s worth it for your travel budget.

Although we know it’s not always viable to plan so far in advance, there are other ways you can try and score a cheaper ticket closer to the departure date. We can’t pinpoint exactly when flight prices go down, but we can offer some advice on how they can go down.

How to get cheaper flights?

There’s no one-way to score a cheaper flight but rather several things to keep in mind when booking your ticket.

Booking in advance

We just mentioned this, we know, but it bears repeating as it’s a reliable way to score a more affordable airfare. It’s especially important for international travel, so start looking at flight prices around 6 months before your trip.

If you’re holding off on booking to save up a bit more money for your ticket, Paylater Travel might be worth a look. Our innovative layaway model allows you to lock in great travel deals today, with a small deposit, and pay the remainder off in weekly or bi-weekly instalments.

This means you can secure a ticket sooner, rather than later, and enjoy flexible payment plans and spread the cost of your ticket over weeks. This allows you to secure the best price, without the stress of paying for it all upfront.

Travel in off-peak seasons

This is another tip that’s worth repeating. Traveling in off-peak periods can save you a significant amount of money. If you can travel outside peak holiday periods, you’ll enjoy lower fares and fewer crowds.

Be flexible

Flexibility isn’t always possible with travel but if you do have the option to move your travel around, be it by days or months, you may be able to secure a better flight ticket deal.

Keep an eye on flight sales

Airlines often offer flight sales, especially in off-peak periods of the year, so this is a great time to book tickets.

Although keep in mind that sale fares often come with fixed travel dates and limited flexibility. If you need a little more wiggle room, a refundable ticket is probably a better fit. Remember to always check the terms before you book.

When to avoid booking flights

While we’re talking about the best times to book a flight, it’s just as important to know when not to. A few of these occasions include:

Booking too early

We did just recommend booking your flight in advance but there is such a thing as booking it too far ahead. It’s best to avoid booking tickets 12 months or more in advance as a few things can happen:

Airlines won’t have released the lowest available fares yet
Schedule changes often occur
Prices may be inflated as demand hasn’t yet been established

Booking too late

Booking tickets too late before your departure can also result in higher fares. As we established earlier, plane ticket prices continue to rise as the departure date nears so leaving it until the last minute will result in a more expensive plane ticket.

Plus, with fewer seats available, you’ll generally have less flexibility too. Airlines bank on the fact that those who need last-minute tickets will generally just buy whatever is on offer.