When Paying More Makes Sense

Everyone has advice on finding the lowest airline prices. Some may point you to travel sites like Expedia, travelocity, or Priceline. Others say that the secret is to visit the airlines' own Web sites and look for special deals. Both of these strategies can help you find cheap airfares.

But do you really want the cheapest possible fare? That depends--and finding good advice on when it makes sense to pay a higher price is harder than similar advice on finding lower prices.

There are three reasons that travelers might choose to pay a higher fare. The first is timing. flights that leave at certain times of day or night are cheaper, while others are more expensive. In general, late night flights are the cheapest, followed by early morning flights if they're headed anywhere other than eastbound. (Because of timezones, super-early flights headed east are actually the expensive ones, because they get their passengers to their destinations before lunch.)

Is it worth paying more to get the flight that you want? Maybe. Business travelers certainly think so. Leisure travelers may also have their preferences. Do you want to arrive in a foreign country just after midnight? Probably not; it's better to arrive in the early evening or the following morning. And some people just can't be awake in time to make that super-cheap 6:00 a.m. departure.

Another reason to pay a higher fare is flexibility. The lowest-priced fares are nonrefundable fares, which are also called deeply discounted or restricted tickets. Changing such a ticket often costs as much as $100. If you're willing to pay more, you can buy a refundable fare that covers you in case your plans change.

The reason that most people avoid refundable fares is that they tend to be considerably more expensive than their nonrefundable counterparts--in some cases, as much as three times more costly. But that's not always the case. It's often worth checking to see what the refundable price is, especially if you're looking at a standard published fare and not a special.

Finally, there's the issue of frequent flyer miles. Many travelers have a preferred airline (and if you don't, you should; your business only gets you better service when it's concentrated into one frequent flyer program). You might be hard-pressed to justify paying double to fly with your carrier of choice, but an extra $50? That's worth it almost every time.

Bottom line: Don't get hung up on finding the lowest possible fare. Find the lowest fare that fits your situation, and you'll come out ahead.

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