DVC down payment?

Discussion in 'Purchasing DVC' started by weswife, Jul 2, 2014.

  1. weswife

    weswife DIS Veteran

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    Hello,

    I have been doing my homework in regard to purchasing a DVC! I have rented points and this year we are staying at AKV for the 1st time! So exciting!

    I can not get information because I live in Canada. I called and this is what I was told. I can get the info when we visit in Oct. I also have to purchase while on vacation.

    My questions are:

    1) When purchasing from Disney, what is the smallest amount of points I can purchase? I noticed another post it was 50 points.

    2) What is the down payment?

    3) Do they give you options to pay the down payment?

    4) How do we go on a tour? I noticed another post refering to a gift or incentive at the end of the tour.

    5) what DVC are available? We are intertested in AKV, BCV or BLT?

    Thanks in advance!
     
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  3. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    What do you want the ownership for? 50 points won't go very far.

    Buy resale and you can buy from home. The marketing laws/restrictions only apply to developers.

    The down payment to finance through Disney when buying direct is 10% I believe. Take the inflated Disney direct price, add the finance charges and you have an expensive ownership.

    :earsboy: Bill

     
  4. ziravan

    ziravan Welcome Home DVC Gold

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    New owners buying direct need to buy 100 minimum. That's up to date info.

    Click on the banner at the top of this thread and consider buying resale. The Timeshare Store specializes in DVC, they sponsor the DVC section of this board, and they're good people to do business. Buying direct might work for you, but if you're going to finance, you might consider resale. The cheaper resale price would offset the cost of financing.

    There are places all over Disney offering the DVC Tour. they'll find you. Any resort is available direct from Disney, but they push the new resorts, you might have to be insistent about which resort you want, and, if it's a sold out resort, you might get put on a wait list while Disney finds and matches the points to your request.
     
  5. 3pletprincesses

    3pletprincesses DIS Veteran

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    you can buy directly form Disney only while you are at Disney (I'm from Quebec) The only Provinces able to buy from Home from what I understand is Ontario and Alberta(I think)
    No matter how many times you call, they will not give you any info, as a matter of fact they won't even give you info on what is available, if something is available to interest rate. I've tried.

    With that said, I don't know if you have been reading a lot about DVC but I find that resale is the way to go. It's much cheaper and yes we can buy from home. I just put in an offer for AKL at $65 per point for 250 points and hoping it will pass. With that said, there is a few perks to buying with Disney directly but to my family it's not worth it. If we ever choose to do a cruise, we will simply rent our points and take that money to get the cruise as suppose to transfer points into a cruise.

    now I'll answer you all the questions based on the info I got in february...
    When I was at Disney is February, the lowest they would let us purchase was 50 points at the Grand Floridian but the guide did tell us that they don`t like to said it out loud as they much prefer 100 points, also don`t forget right now you are looking at $165 per point for the grand Floridian.

    Down payment was 10% and the interest rate will depend on your credit and it also varies per country same with the years that you can finance it. If buying resale you can get financing ( I was just speaking to them today) with monerafinancial.com Their rates start at 9.9% and goes up to 13.9 depending on your down payment. they do no credit check and accept Canadians as long as you have a US bank account in a US bank. Check their site for more info.

    To do a tour, you simply present yourself to one of the kiosk at either a park or resort and ask fora tour. they will gladly help you schedule a tour at a time convenient to you. In Feb I got $100 gift card for doing the tour while I know people doing the tour when I was only got fastpasses. don't know why I got the gift card but I won`t complain. could be because I was travelling solo with kids.

    They have very little point in the DVC you are interested in and honestly they are ver y expensive. I think AKL is at $155 with 100 points minimum, BCV is around $130 , 100 points minimum and BLT at about $165. Considering you can get AKL at about $70-85 points in the resale market, buying direct is EXPENSIVE

    if you want to know roughly how many points you would need, check this site out. http://www.dvcnews.com/index.php/dvc-program/points-charts/dvc-resorts

    I hope this helps a bit.
     
  6. 3pletprincesses

    3pletprincesses DIS Veteran

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    one more thing, I would stay at the DVC you want to own before buying. I love love love AKL but it's a lot of walking in that resort. I can walk it now but you bet as I get older, I will not be able to walk. Our room in February was a 15 minutes walk for the front entrance to our room and that was not strolling around.

    In the other hand I hate BCV because i find it`s not green enough and I like green spaces outside KWIM. SSR might not be for everyone but I like it while you would need to pay me to stay at Boardwalk. With that said, I was always wanting to own at Boardwalk until I stayed a few nights and realised it wasn't for me
     
  7. lawboy2001

    lawboy2001 Soon to be DVCer

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    Hey, looks like you are well informed about this!

    Personally, thank you for the info re Monera Financial...I wasn't aware that any of the financing companies worked with Canadians. Good to know that one does.
     
  8. weswife

    weswife DIS Veteran

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    Thanks for the information! I did not know I could get info at the place you mentioned. Maybe I will look at it and a resale, if they work with Canadians. I thought I had to purchase via Disney due to being Canadian. Off to check the site :goodvibes
     
  9. lush1

    lush1 Earning My Ears

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    Does anyone know if buyers from uk can use monera financial as can't see anything on their FAQ page to say they dont
     
  10. 3pletprincesses

    3pletprincesses DIS Veteran

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    Lush1 I was told by Angie over at Monera that they loan to anyone as long as you have a us bank account in a Us bank so they can get the payment automatically. Send them an email. They were more thrn happy to answer the few questions I had
     
  11. lush1

    lush1 Earning My Ears

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    Ok that prob rules me out as only have uk bank account
     
  12. finchy3

    finchy3 Mouseketeer

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    A loan from the UK can be got for around 4 percent interest, not sure if that's any good to you?
    Then transfer the payment through a currency specialist like hifx.
     
  13. romenyf

    romenyf Earning My Ears DVC Gold

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    Do they still give discounts for family that work there? When I purchased mine, 7 years ago, my son was doing an internship and we got 25% discount!! what a deal!
     
  14. DisK

    DisK Mouseketeer

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    This is incorrect. It is a minimum of 50 points, and I confirmed it today.
     
  15. Minniesgal

    Minniesgal DIS Veteran

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    To be honest it varies. The official minimum. Is 100 points but sometimes certain guides will offer 50. It depends how much they want to make a sale, the 50 isn't always an option and not all guides will do it.
     
  16. weswife

    weswife DIS Veteran

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    THANKS!!!! so much for all of the information!

    I am still studying my options! :hyper:
     
  17. weswife

    weswife DIS Veteran

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    Update!

    We took the plunge! We made an offer, received a counter offer which we accepted! Now we have been in ROFR, since July 16/14. This was a wonderful date for us to be sent to ROFR.. it was our 26th wedding anniversary! Hope that was an omen.:hyper:

    Thanks for all of the wonderful information! We bought a resale and use Monera! All of the posts helped us decide!

    Now the waiting.......

    :jumping1:
     
  18. vicki_c

    vicki_c DIS Veteran

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    Congratulations and welcome home! I hope everything goes smoothly and quickly with the rest of your purchase.
     
  19. weswife

    weswife DIS Veteran

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    Thank you! We are waiting to hear if we passed ROFR! From what I have read it takes almost 30 days. We are waiting patiently and hopefully for our trip next year we will be owners! :hyper:

    This year we rented points from a member on here to enjoy a stay at AKV!!! :goodvibes
     
  20. mort1331

    mort1331 Mouseketeer

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    Disney will take the whole 30 days so hold on. I just wanted to let you know that you can finance with Canadian bank. RBC or some of the others let you. For the cheapest rate, use your home line of credit, it should be close to prime which is 3%. About $35 for the bank to do the transfer from here and its very easy. Then I know that both RBC and TD have banks in the US so you can set up a US account and have your dues come out of there monthly. Check out the Canadian board for tips on this.
    And Good Luck on ROFR
     
  21. weswife

    weswife DIS Veteran

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    Thanks! I will have a look at the info you provided! :goodvibes
     

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