View Full Version : Downpayment For DVC

09-12-2003, 09:03 PM
I am thinking about buying into the DVC but I would like to know what the minium amount of cash it takes to get into the new Saratoga Springs Resort? I intend on financing my purchase through Disney and would like to get an idea on the cost.

disney queen
09-12-2003, 09:09 PM
we just added on today w/100 points at saratoga springs and our down payment was $500. i have also heard 10% of the total price. it is a good idea to ask. good luck!:tongue:

09-12-2003, 09:17 PM
They would like to get 20% or around $2,000 but 10% will do.

Welcome to the board and maybe we could welcome you home:bounce: :bounce: :bounce: :bounce: :bounce: :bounce:

09-12-2003, 09:18 PM
Your down payment should be 10%.

They will need at least $500 to get the process started.

Let's say you buy 150 pts. That gives you a total of $13,350. Your down payment would be $1,335. If you opt to take the $10 credit that Disney is offering on SSR, this would add another $1,500 to your down payment.

The balance you finance would be $10,515. If you opted to finance through DVC then your payments would be $137.50 per month at 9.75% interest for 10 years.

You can always put more down than the 10% and finance for a shorter term than 10 years or not finance at all.

Good luck.


Don't you have to send in the remaining balance of the 10% with your SSR paperwork?

09-12-2003, 09:30 PM
Thank You very much for the info! I'm kind of nervous about posting as this is my first discussion forum. I'm also nervous about buying into the DVC, but our family goes to Disney at least 15 to 20 days during the year. Living in Florida has its advantages.
From what I can gather, the DVC seems to be a no brainer for someone who likes to stay at Deluxe Resorts and goes to WDW frequently.

09-12-2003, 10:29 PM
Welcome to the DIS. This is a very friendly site. Ask lots of questions. Read all that you can about DVC. The DIS, MousePlanet, Deb Will's site are all very good. Visit the Disney DVC site as well.

The Disney guides are friendly, patient and no pressure. Call to get the video and informaton packet. Ask to speak with a guide.

Yes, if you visit that often and generally stay in deluxe resorts, you are a good candidate for DVC.

Good luck.

09-12-2003, 10:52 PM
You can put down as little as $500 but you have to be able to put the remainder of the 10% down in 30 days. GOOD LUCK!

Happy Birthday Cat
09-12-2003, 10:57 PM
Be careful that you don't plan to visit on weekends. If you go 20 days a year with a lot of that on weekends, DVC may not be right for you because of the number of points weekends cost.


Simba's Mom
09-13-2003, 09:31 AM
And just a reminder-you can put the down payment on a credit card. I asked my guide specifically about the Disney Visa, thinking of the Disney Dollars I might earn. He seemed to think it was a good idea.

09-13-2003, 04:26 PM
Floridafam is right with the calculations as we heard them last weekend. Basically the 1,500 credit you get goes towards the downpayment so with 1,350 added you end up over 20% anyways. Also the loan is a simple interest loan so even if you finance for 10 years like we did, if you over pay each month then you can pay it off earlier.

Another note for SSR is that because the resort isn't open - you don't make your first payment after the downpayment until next June. So you can put down 1,350 now and then save up some money before next June and if you pay it all off then you save all the interest anyways. We probably won't do that but hope to pay off at least half. Dues on the resort will be due next April.

We also charged our downpayment on a Northwest card - miles for us :p

09-13-2003, 04:34 PM
We had "less than perfect credit" when we bought in 2000. We had to put 20% down. Something to keep in mind, in case your credit isn't perfect.

09-13-2003, 04:43 PM
The points for weekends are expensive, going mostly weekends is hard to justify.

We bought DVC back in '92, we became Floridians in late '97. For a while our vacations didn't change, one twelve night OKW Grand Villa stay per year. The last few years we have wasted a few points on concierge weekends and the like. I have found Sat-Tues or Wed long weekends to be a fair mix, one weekend day to two or three weekdays(Dean, pretend I didn't say that).

We are staying in the GV this November, arriving the 9th and departing the 12th. We have family all over the country, two different siblings and my father are also DVC members. It makes for easy, comfortable get togethers.

09-13-2003, 06:02 PM
Also, when financing through Disney, the more you put down the less your interest rate, well that is how it worked when we bought through Disney last year.

09-13-2003, 07:51 PM
Originally posted by Simba's Mom
And just a reminder-you can put the down payment on a credit card. I asked my guide specifically about the Disney Visa, thinking of the Disney Dollars I might earn. He seemed to think it was a good idea.

My guide cheered when I put it on my Disney Visa. He said they always make a "fuss" when people use their Disney Visa! :Pinkbounc