Airfordable

Book a flight for only a fraction upfront

7 followers

Book a flight for only a fraction upfront

7 followers

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Airfordable is a financial technology company that allows anyone to create payment plans when they purchase airline tickets.

Launch tags:Web App•Fintech•Payments

Launch Team

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Promoted

The 25 Days of Ideas

Cool idea but you gotta re-work your tagline. "Payment plans for flights before your departure" would suggest that it's only for "flights before your departure". That's how I first read it. Is the "before your departure" important enough to be in your one sentence tagline? It's a detail that doesn't sell anyone on the idea. My 2 cents

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9yr ago

Airfordable

Maker

@evankimbrell yes "before departure date" is one of things that differentiates us from a credit card so it's important

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9yr ago

The 25 Days of Ideas

@amamarfo Yeah, ok but two things 1) Your target market is probably going to be people who can't access credit cards. Based off your rates, your APR would be way higher than a normal card (10-20% is the equivalent of holding a balance for 10 months on a CC). Thats what makes me think you're going for subprime so theres no point in differentiating. 2) Aren't you then highlighting how you're worse than a CC? Credit cards let me pay it off whenever as long as I'm ok with the 1-2% monthly fee.

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9yr ago

@evankimbrell I agree the verbiage is a bit confusing at first but more importantly I would love to know what card offers a 1-2% APR. I think the average is about 15% plus some sort of annual fee I imagine.

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9yr ago

The 25 Days of Ideas

@rouzbeh84 PER MONTH. You divide 15% by 12

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9yr ago

@evankimbrell hmm I'm no banker or CPA but I don't think that works the way you think it works... Don't you divide it by 365 and then apply that to your balance as a daily rate [insert more math here about running balance and time frames] then come up with your effective rate?

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9yr ago

Airfordable

Maker

Hi All, I'm the cofounder/CEO of Airfordable and joined by my two cofounders @cgnry and @emmanuelbuah. We're building Airfordable to scratch our own itch when it comes to booking flights. There are many times were there were flights we wanted but faced 2 problems: - we didn't have all the money upfront. We had bills to pay so dropping $2000 in one transaction wasn't feasible - had a limited line of credit Airfordable solves these problems by allowing you to lock in fares early at cheaper rates and book flights without tying up a significant portion of your funds/paycheck Happy to answer any questions you may have and thanks for all the feedback!

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9yr ago

Pixsy

@amamarfo Great idea. Is there a reason you don't support one-way trips?

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9yr ago

PlanItUp

@amamarfo @cgnry @emmanuelbuah Excellent idea. So did you work out a deal with airlines or you finance the upfront payment from your company funds to allow this kind of service?

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9yr ago

Airmail

Have always wondered why airlines themselves don't do this.

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9yr ago

@zaccoffman Some OTAs do it in countries where installment plans are more prevalent, like Brazil. It seems that payment is cultural. Since most in the US have credit cards, there's less demand. As fewer millennials and Gen Zers have credit cards though (due to recession, bad credit, etc), this model might indeed be picked up by airlines. Sounds like a good topic for an article!

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9yr ago

Airmail

@worldli Good points on the credit cards. And really not surprised other countries offer it, we seem to always be last at bat here in the US. I just know from a family standpoint, we tend to do one big trip a year. We can do payments on the vacation part, but airfare part is always the one that has to be done upfront.

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9yr ago

Brilliant idea. I'm thinking of so many trips I can start planning for. Are you planning on letting us search for flights on your platform soon @amamarfo?

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9yr ago

Airfordable

Maker

@osayilasisi Yep that's in the works! 😀

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9yr ago

Does Airfordable consider any particular underwriting when determining the 10-20% fee? Are there any barriers to entry which slow down other point of sale financing options from partnering directly with the airlines?

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9yr ago

Putting your airfare on layaway... I kinda like it! 10-20% seems a bit expensive though.

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9yr ago

I have an app for this already. It's called a savings account.

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9yr ago

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