diff --git a/changelogs/fragments/66792-vultr-improve-plan.yml b/changelogs/fragments/66792-vultr-improve-plan.yml
new file mode 100644
index 00000000000..fe1144dfa33
--- /dev/null
+++ b/changelogs/fragments/66792-vultr-improve-plan.yml
@@ -0,0 +1,2 @@
+minor_changes:
+  - vultr_server_info, vultr_server - Improved handling of discontinued plans (https://github.com/ansible/ansible/issues/66707).
diff --git a/lib/ansible/module_utils/vultr.py b/lib/ansible/module_utils/vultr.py
index b047c939bad..86ebdb8c0c1 100644
--- a/lib/ansible/module_utils/vultr.py
+++ b/lib/ansible/module_utils/vultr.py
@@ -216,7 +216,7 @@ class Vultr:
         except ValueError as e:
             self.module.fail_json(msg="Could not process response into json: %s" % e)
 
-    def query_resource_by_key(self, key, value, resource='regions', query_by='list', params=None, use_cache=False, id_key=None):
+    def query_resource_by_key(self, key, value, resource='regions', query_by='list', params=None, use_cache=False, id_key=None, optional=False):
         if not value:
             return {}
 
@@ -246,12 +246,13 @@ class Vultr:
                     return r_data
                 if id_key is not None and to_text(r_data[id_key]) == to_text(value):
                     return r_data
-
-        if id_key:
-            msg = "Could not find %s with ID or %s: %s" % (resource, key, value)
-        else:
-            msg = "Could not find %s with %s: %s" % (resource, key, value)
-        self.module.fail_json(msg=msg)
+        if not optional:
+            if id_key:
+                msg = "Could not find %s with ID or %s: %s" % (resource, key, value)
+            else:
+                msg = "Could not find %s with %s: %s" % (resource, key, value)
+            self.module.fail_json(msg=msg)
+        return {}
 
     @staticmethod
     def normalize_result(resource, schema, remove_missing_keys=True):
@@ -288,14 +289,16 @@ class Vultr:
 
         return self.result
 
-    def get_plan(self, plan=None, key='name'):
+    def get_plan(self, plan=None, key='name', optional=False):
         value = plan or self.module.params.get('plan')
 
         return self.query_resource_by_key(
             key=key,
             value=value,
             resource='plans',
-            use_cache=True
+            use_cache=True,
+            id_key='VPSPLANID',
+            optional=optional,
         )
 
     def get_firewallgroup(self, firewallgroup=None, key='description'):
diff --git a/lib/ansible/modules/cloud/vultr/vultr_server.py b/lib/ansible/modules/cloud/vultr/vultr_server.py
index cbeb77772af..1d12a79c9a8 100644
--- a/lib/ansible/modules/cloud/vultr/vultr_server.py
+++ b/lib/ansible/modules/cloud/vultr/vultr_server.py
@@ -452,15 +452,6 @@ class AnsibleVultrServer(Vultr):
             id_key='DCID',
         )
 
-    def get_plan(self):
-        return self.query_resource_by_key(
-            key='name',
-            value=self.module.params.get('plan'),
-            resource='plans',
-            use_cache=True,
-            id_key='VPSPLANID',
-        )
-
     def get_firewall_group(self):
         return self.query_resource_by_key(
             key='description',
@@ -642,7 +633,16 @@ class AnsibleVultrServer(Vultr):
         return server
 
     def _update_plan_setting(self, server, start_server):
-        plan = self.get_plan()
+        # Verify the exising plan is not discontined by Vultr and therefore won't be found by the API
+        server_plan = self.get_plan(plan=server.get('VPSPLANID'), optional=True)
+        if not server_plan:
+            plan = self.get_plan(optional=True)
+            if not plan:
+                self.module.warn("The plan used to create the server is not longer available as well as the desired plan. Assuming same plan, keeping as is.")
+                return server
+        else:
+            plan = self.get_plan()
+
         plan_changed = True if plan and plan['VPSPLANID'] != server.get('VPSPLANID') else False
         if plan_changed:
             server, warned = self._handle_power_status_for_update(server, start_server)
diff --git a/lib/ansible/modules/cloud/vultr/vultr_server_info.py b/lib/ansible/modules/cloud/vultr/vultr_server_info.py
index d4eb761a6ee..afa3ed92c27 100644
--- a/lib/ansible/modules/cloud/vultr/vultr_server_info.py
+++ b/lib/ansible/modules/cloud/vultr/vultr_server_info.py
@@ -165,7 +165,7 @@ class AnsibleVultrServerInfo(Vultr):
         return self.get_firewallgroup(firewallgroup, 'FIREWALLGROUPID').get('description')
 
     def _get_plan_name(self, plan):
-        return self.get_plan(plan, 'VPSPLANID').get('name')
+        return self.get_plan(plan, 'VPSPLANID', optional=True).get('name') or 'N/A'
 
     def get_servers(self):
         return self.api_query(path="/v1/server/list")