How much should I borrow for a 3-week trip to Peru and Colombia?

A 3-week trip will likely cost between $5,000 and $9,000 per person, depending on your travel style. We recommend creating a detailed spreadsheet with estimated costs for international and internal flights, accommodations per night, major tours (like a multi-day trek or a trip to the Amazon), food, and a buffer for incidentals. Applying for a loan that covers this detailed budget is the most responsible approach.

Can I get funds before I have my Nazca Lines or Patagonia tour booked?

Yes, absolutely. A personal loan is unsecured and the funds are deposited directly into your bank account. You have the flexibility to use the money to book flights, tours, and accommodations as you see fit. This is a major advantage, as it allows you to secure spots on popular tours like hiking Patagonia or flying over the Nazca lines well in advance.

Is it better to finance just the flights or the entire South America trip?

Financing the entire trip with a single loan is often more manageable. It consolidates all major upfront costs into one loan with a predictable payment schedule. This prevents you from having to put thousands of dollars for tours and hotels on high-interest credit cards after paying for flights, which can quickly become expensive and difficult to track.

How quickly can I get funded if I find a last-minute deal for a Colombia trip?

The process is very fast. After you submit your initial information and review offers, completing a formal application with your chosen lender can lead to approval quickly. Once approved, many lenders can deposit funds into your account in as little as one business day, allowing you to jump on those last-minute travel deals.

Can I use a travel loan for a long-term backpacking trip in South America?

Yes. A personal loan can be an excellent way to fund a longer, multi-month backpacking trip. It provides you with a set budget upfront, which can be crucial for managing your expenses over an extended period. You can use the funds to cover your initial flight, major transportation passes, and have a clear amount to budget from for your hostels, food, and activities while you're on the road.

What happens to my loan if my trip to Peru gets cancelled?

Your loan obligation is separate from your travel plans. If your trip is cancelled, you are still responsible for repaying the loan. This is why purchasing 'Cancel For Any Reason' (CFAR) travel insurance is highly recommended. If you receive refunds from airlines or tour operators, you can use that money to pay down a large portion of your loan principal immediately. Many personal loans do not have prepayment penalties.

Financing Your South America Trip

A personal loan can make your dream of hiking Patagonia, exploring the Nazca Lines, or seeing Machu Picchu a reality, with predictable monthly payments.

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Planning an epic journey through South America—from the ancient wonders of Peru to the rugged landscapes of Patagonia—is an unforgettable experience. But coordinating the costs for flights, multi-day tours, and accommodations across different countries can be financially overwhelming. You've found the perfect itinerary, but the high upfront cost can put your dream trip on hold.

The Financial Hurdles of a South American Adventure

High upfront costs for flights and major tours like the Inca Trail or Patagonia treks need to be paid for months in advance.
A personal loan provides a lump sum of cash so you can book everything at once and lock in today's prices.
Juggling multiple high-interest credit card balances for different bookings creates a confusing and expensive mess.
Consolidate all your travel expenses into a single loan with one predictable monthly payment and a fixed interest rate.
Draining your savings account for a vacation leaves you without a financial safety net for emergencies.
Financing your trip allows you to keep your savings intact for peace of mind while you travel and after you return.
Waiting to save up enough cash means missing out on current flight deals and tour availability.
Get the funds you need now to take advantage of booking opportunities and travel on your timeline, not your savings schedule.

How a Travel Loan Simplifies Your South America Trip

A personal loan for South America travel is a straightforward financing tool designed to make your adventure possible without financial stress. Unlike a credit card with a revolving balance and fluctuating interest, a personal loan provides you with a fixed amount of money upfront. You then repay it over a set period (typically 2 to 7 years) with fixed monthly payments. This predictability is crucial when budgeting for a major trip.

This means you can confidently book your flight to Lima, reserve that coveted spot on a Rainbow Mountain tour from Cusco, and secure your lodging in Bogotá all at once. By paying suppliers upfront with your loan funds, you can often avoid installment fees and lock in prices before they increase. It simplifies your entire planning process into one manageable financial step, letting you focus on planning the adventure itself, not how you'll pay for each individual piece.

Get Your Trip Funded in 3 Simple Steps

1
Complete a Short Form
Tell us about your trip and financial needs. Checking your rate won't affect your credit score.
2
Compare Your Loan Offers
If you qualify, you'll see real offers from our network of lenders, including APR and monthly payments.
3
Receive Your Funds
Once you select an offer and are approved, funds are typically deposited directly into your bank account in as little as one business day.

Budgeting for Your Trip: A Cost Breakdown

The cost of a South American adventure can vary widely based on your travel style, trip duration, and destinations. A backpacking trip through Colombia will have a very different budget than a guided tour of Patagonia and Easter Island. Here’s a sample breakdown for a moderately-budgeted two-week trip for one person to help you estimate your loan needs.

Sample 2-Week Peru & Bolivia Trip Budget

International Flights (from US) Round-trip to Lima (LIM)	$800 - $1,500
Internal Flights & Buses e.g., Cusco, La Paz	$400 - $700
Accommodations (Mid-range) 14 nights × ~$70/night	$980
Major Tours & Entrance Fees Machu Picchu, Sacred Valley, Salt Flats	$1,000 - $1,800
Food, Local Transport & Misc. 14 days × ~$60/day	$840

Estimated monthly

~$186/mo

Based on a $5,500 loan with a 3-year term at 15% APR. Your actual rate may vary.

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Get personalized loan offers in minutes without impacting your credit score.

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Typical Loan Parameters for South America Travel

The terms of your loan—how much you can borrow, for how long, and at what interest rate—are determined by your individual financial profile. Factors like your credit score, income, and existing debt play a significant role. Our platform connects you with multiple lenders, allowing you to compare offers and find the best fit for your budget and your trip.

Loan amount: $2,000 – $25,000
APR: 7.99% – 35.99%
Term: 24 mo – 84 mo

Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. The rates listed are representative and not guaranteed.

Financing Options: Personal Loan vs. Credit Cards

When planning your South America travel, you have several ways to pay. While credit cards are useful for points and purchase protection, carrying a large balance for an extended period can be very expensive due to high, variable interest rates. A personal loan offers a structured alternative that can often save you money in the long run. Let's compare the most common options.

Personal Loan vs. Credit Cards for Trip Financing

	Personal Loan	Credit Cards
Interest Rate (APR)	Fixed rate (e.g., 8-35.99%)	Variable rate (e.g., 20-30%+)
Payments	Fixed monthly amount	Minimum payment varies with balance
Payoff Timeline	Clear end date (e.g., 36 months)	Can take years if only paying minimum
Best For	Funding an entire trip upfront with a clear budget and repayment plan.	In-trip purchases, earning rewards (if paid off quickly).

A Smarter Way to Pay for Your Adventure

A fixed-rate loan can offer more predictability than high-interest credit cards. See your options now.

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What Lenders Look For

Common Qualification Criteria

Good to Excellent Credit: A credit score of 640 or higher is typically needed for the most competitive rates, though some partners work with scores starting around 580.
Verifiable Income: Lenders need to see that you have a steady source of income to comfortably handle the monthly loan payments.
Low Debt-to-Income (DTI) Ratio: Your total monthly debt payments (including the new loan) should ideally be less than 40% of your gross monthly income.
Positive Credit History: A history of on-time payments and responsible credit management shows lenders you are a reliable borrower.

To strengthen your application, ensure all your existing accounts are in good standing and consider paying down some credit card debt before you apply to lower your DTI ratio.

Pro Tips for a Smoothly Financed Trip

Financing your trip is just the first step. To make the most of your loan and your adventure, keep these tips in mind.

Borrow Only What You Need: Create a detailed budget before applying. While it's wise to include a small buffer (5-10%) for unexpected costs, avoid borrowing significantly more than your trip estimate.
Factor in Travel Insurance: Include the cost of comprehensive travel insurance in your loan amount. It’s a small price for protection against cancellations, medical emergencies, or lost baggage.
Understand ATM & Foreign Transaction Fees: While your loan covers the big-ticket items, you'll need cash on the ground. Research debit and credit cards that offer low or no foreign transaction fees to save money on daily spending.
Choose the Shortest Term You Can Afford: A shorter loan term means higher monthly payments but less interest paid overall. Find the balance that allows you to pay off your trip quickly without straining your monthly budget.

Ready to Plan Your Trip? Check Your Rate First.

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Frequently Asked Questions

How much should I borrow for a 3-week trip to Peru and Colombia?
A 3-week trip will likely cost between $5,000 and $9,000 per person, depending on your travel style. We recommend creating a detailed spreadsheet with estimated costs for international and internal flights, accommodations per night, major tours (like a multi-day trek or a trip to the Amazon), food, and a buffer for incidentals. Applying for a loan that covers this detailed budget is the most responsible approach.
Can I get funds before I have my Nazca Lines or Patagonia tour booked?
Yes, absolutely. A personal loan is unsecured and the funds are deposited directly into your bank account. You have the flexibility to use the money to book flights, tours, and accommodations as you see fit. This is a major advantage, as it allows you to secure spots on popular tours like hiking Patagonia or flying over the Nazca lines well in advance.
Is it better to finance just the flights or the entire South America trip?
Financing the entire trip with a single loan is often more manageable. It consolidates all major upfront costs into one loan with a predictable payment schedule. This prevents you from having to put thousands of dollars for tours and hotels on high-interest credit cards after paying for flights, which can quickly become expensive and difficult to track.
How quickly can I get funded if I find a last-minute deal for a Colombia trip?
The process is very fast. After you submit your initial information and review offers, completing a formal application with your chosen lender can lead to approval quickly. Once approved, many lenders can deposit funds into your account in as little as one business day, allowing you to jump on those last-minute travel deals.
Can I use a travel loan for a long-term backpacking trip in South America?
Yes. A personal loan can be an excellent way to fund a longer, multi-month backpacking trip. It provides you with a set budget upfront, which can be crucial for managing your expenses over an extended period. You can use the funds to cover your initial flight, major transportation passes, and have a clear amount to budget from for your hostels, food, and activities while you're on the road.
What happens to my loan if my trip to Peru gets cancelled?
Your loan obligation is separate from your travel plans. If your trip is cancelled, you are still responsible for repaying the loan. This is why purchasing 'Cancel For Any Reason' (CFAR) travel insurance is highly recommended. If you receive refunds from airlines or tour operators, you can use that money to pay down a large portion of your loan principal immediately. Many personal loans do not have prepayment penalties.

Personal loan disclosure

Money Savvy is not a lender. We are a marketing service that connects consumers with participating lenders. Rates, amounts, and terms vary by lender, your credit history, and other factors.

Loan amounts: $1,000 – $100,000
Repayment terms: 3 – 84 months
Min APR: 5.99%
Max APR: 35.99%
Origination fees: 0% – 10% of the loan amount
Late fees: May apply; vary by lender

Representative example: A $10,000 loan with a 36-month term at an 18.99% APR would have an approximate monthly payment of $366.39 and a total cost of $13,190.04, including interest and a $500 origination fee.

Your actual APR depends on your credit score, income, and other factors. Only borrow what you can afford to repay.

California residents: California Financing Law disclosures available upon request.