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Friday, August 11, 2006

Best time to buy an airplane ticket

From The Consumerist:

Tip #1

Know what a good price is. FareCompare.com keeps over 2 years of historical fare information that allows you to quickly see where the current market prices fall. If they are at or near an all time low then this is the perfect time to buy.

Tip #2

Check the price volatility of your city pair. If the prices are bouncing around by $100 or more a few times a month or more, make sure you buy on a down swing. FareComapre.com shows a 30 day history bar chart so you can quickly check volatility.

Tip #3

Know when the best time to buy was LAST year. FareComare.com shows a 1 year history graph where you can easily see what happened historically. That doesn't mean it will happen this year but it is part of a "savvy" air travel shoppers arsenal.

Tip #4

Know the price trend for your city pair. If the prices are trending up because of airline increases related to fuel or heavy demand and there is short supply it still may be a good time to buy even if the price is not near an all time low.

Tip #5

Sign up for an email early alert system like ours at FareCompare.com that tells you exactly when prices have significantly changed. When seats are limited the people that are first to know have first crack.

Tip #6

Last minute is useful for those with flexibility and daring. There are occasions in certain city pairs where a last minute purchase can be a super deal. These are great for those with ultimate flexibility and who can pick up and go at a moments notice. These are daring for those that are planning to attend a family reunion…

Tip #7

The business and leisure price break point is normally 14 days advance purchase (sometimes 21). As all business travelers know you are not likely to get a good price inside of 14 days.

Most people stumble upon a good deal. The volume of air travel shopping queries each minute is staggering and some of those queries hit the jackpot. You don't have to happen upon a good deal.

"WHEN IS THE BEST TIME TO BUY?"
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When you have quickly and easily researched all aspects of your purchase and click the "do it" button with the confidence that you are making the most informed decision.


Rick Seaney
CEO, FareCompare.com

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