For the longest time, laminate was considered far better than vinyl flooring. It was cheap, simple to install, and looked more like wood or stone than vinyl.
Then a funny thing happened: vinyl flooring got better, much better.
Now, in the vinyl vs. laminate wars, vinyl is not only neck-and-neck with laminate but is--in my opinion--a bit better. Both cost about the same. Both look good. But vinyl flooring can be installed anywhere. Laminate flooring, due to its wood content, still shouldn't be installed in bathrooms.
Truthfully, I still think that if you want wood, get wood. Save up. Skrimp. Put your pennies in a jar. Whatever you need to do, do it. Neither laminate nor vinyl can compare to solid or even engineered wood flooring. But if you've already decided that it's got to be either vinyl or laminate, I would seriously consider vinyl.
Image (c) Mannington