financing?

[taggat]

how long and what rate does disney finace your points.Say 200 points.

 

[Disnydad]

I believe it varies by your credit report and if you have it automatically withdrawn from your checking account.

Don, DVC/VWL 2000

OS/90, BC/95, WL/97, Contemp/98&99, Poly/99, DxL/00, CBR/00

 

[kem330]

taggat check out dvc downpayment thread below

 

[mrhodes]

The current "Special Financing" chart DVC sent me just a couple of days ago says there is financing for 10% down, 20% down and 50% down. However, the interest quoted on this chart only has figures for 20% and 50% down.

The cheaper rates are with Direct Debit for the monthly payments in which case the rates are
5.95% with 50% down financed for one year
10.95% with 20% down for either 3, 5, 7 or 10 years. (same rate for all)

Without Direct Debit the rates are:
the same as above but 1% higher interest.

Hope this helps. Just as a P.S. we were planning on touring during spring break, but now were considering doing a purchase now via the mail site unseen. Purchases right now you get your 2000 year points and with an October use year another set of points in just seven months. Possibly after March the 2000 year points will stop and you would get none up front. This can equate to good bit of value.

Hope this helps.

 

[mrhodes]

1. Since you mentioned you were interested in 200 points, I looked that up on the chart for you.

With Direct Debit your 20$ down would be $2,880.00, monthly payments would be $376.88 for three years, $250.19 for five years, $196.95 for seven years, or $158.36 for ten years. All of these at 10.95% interest. Don't forget you need to add in the maintenance fee, which would be $60.46 per month on the Villas at Wilderness Lodge, or $725.50 per year on 200 points.

 

[mrhodes]

Got my fingers going faster than the brain. Should read 20% not 20$ down in the prior answer. The % key and $ key are next to each other. Sorry......

 

[mickeyc]

Depending upon your personal circumstance there other financing options available. If you own a home consider a home equity loan. The interest rates are better than the ones being offered by Disney. Also, there are other sources to consider such as pension loans, life insurance loans, 401k, etc. You should also consult with your tax advisors for possible tax advantages. Good luck I am sure you will make the right choice!

 

[ripleysmom]

I do believe though that the 10.95% is a special introductory rate only available for the first 30 days after a tour. After that it is history.

Kimberly-Lucas and Ripley's Mom

 

[DisneyCrazy123]

When I was considering purchasing a DVC interest I took out a no cost equity line of credit on my home for no cost. Even if I never used it, I would not have to pay anything. When I was ready to purchase at DVC, the line was ready for me.

The interest rate floats at .50% below prime. I only have to pay interest each month, but can pay principal in any amount. I found it much less expensive than Disney's financing.