If you buy direct and finance through Disney

Discussion in 'Purchasing DVC' started by marivigi, Mar 4, 2013.

  1. marivigi

    marivigi Getting a Pluto fix!

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    Does anyone know what the interest rate offered is?

    Do they have different interest rates?

    Thanks!
     
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  3. WDWLayla

    WDWLayla Earning My Ears

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    I believe it was preferred rate of 12.5 and standard of 17.5? With 10% down.

    20% down gets you a standar rate of 12.5 and a preferred rate of 9.5 I believe
     
  4. tjkraz

    tjkraz <img src="http://www.wdwinfo.com/images/silver.jpg

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    With 10% down, rates are 11.5%, 14.5% and 17.5% depending upon credit scores.

    With 20% down rates are 9%, 10.5% and 12.5%.
     
  5. marivigi

    marivigi Getting a Pluto fix!

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    thank you! :)
     
  6. Sur

    Sur Love the Dis

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    If I recall correctly, you may put a down payment on your cc, enabling some choices there also.
     
  7. kelis

    kelis Mouseketeer

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    Having just purchased on Thursday, these are exactly the numbers I saw.
     
  8. intertile

    intertile Mouseketeer

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    they also have better numbers if you are adding on.

    If you put 10% down its 8.5% with auto-debit
    If you put 5% down its 10.5% with auto-debit

    This is only offered to existing DVC members with a history of a loan. They look at your last 6 months payments only. If they were all on-time you are automatically approved and given these rates. Info was given to me on a DCL cruise and confirmed by my guide last week. (Cruise actually gave me 2 print outs showing the rates, downpayments, dues, and monthly payments)
     
  9. disneypoor

    disneypoor DH thinks I have a "thing" for Mickey! DVC Gold

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    We just added on a small contract last week and got 8%. We put 20% down though. Our first DVC purchase was already paid off, but I remembered it being 10 percent, so I was surprised at the 8%.

    Susan
     
  10. tazleiten12

    tazleiten12 DIS Veteran

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    I seen on another site, the rates went up. Below is what they now show. I wonder if this affects the classic resort wait-lists?

    Premium, 10% down: 11.5%
    Premium, 20% down: 9.0%

    Preferred, 10% down: 14.5%
    Preferred, 20% down: 10.5%

    Standard, 10% down: 17.5%
    Standard, 20% down: 12.5%

    The above rates assume the buyer agrees to direct debit of monthly payments from a US-based bank account. Buyers who are not willing to enroll in the direct debit program will be charged an additional 1%.
     
  11. Novakm

    Novakm Mouseketeer

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    Wow that's pretty high, considering I just refinanced a house at less than 3%.
     
  12. elfbo

    elfbo DIS Veteran

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    Our guide told us on sunday. Preferred 10.5% with 10% down. 8% with 20% dwn. We are on the waitlist if that could make a difference
     
  13. tjkraz

    tjkraz <img src="http://www.wdwinfo.com/images/silver.jpg

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    It's actually 1% LESS than the rates above if direct debit. So 10.5% Premium with 10% down and Direct Debit. 8% Premium with 20% and DD.
     
  14. geraghty

    geraghty Mouseketeer

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    But does your house have a Bay Lake view and an infinite supply of pixiedust?
     
  15. rusafee1183

    rusafee1183 DVC Owner Since 2012!

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    Both of these are EXCELLENT points!! ::yes::

    :rotfl:
     
  16. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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    a house might decline in value a bit over the short term, but DVC is definitely headed to zero (and many timeshares are already there - $1 on ebay - what a deal!), so banks are justifiably antsy about lending on timeshares...
     
  17. Novakm

    Novakm Mouseketeer

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    No, my house does not have an endless supply of pixie dust, or a bay lake view!
     
  18. elfbo

    elfbo DIS Veteran

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    My dog is named pixie and I can see the river sometimes. Does that count? :rotfl:
     
  19. z28wiz

    z28wiz DIS Veteran DVC Gold

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    :) One of my dogs is named Mickey, and yes its named after the Mouse!
     
  20. I❤MICKEY

    I❤MICKEY DIS Veteran

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    Starting to consider purchasing. Not sure if we'll do direct or resale.

    Does anyone know if the interest on the loan can be deducted from your taxes? I was told that the annual dues can be but I'm not sure if that is true either.
     
  21. Sandisw

    Sandisw Moderator Moderator

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    The loan from Disney is considered a mortgage so I believe it could qualify as a deduction. You can not deduct all of your annual dues. You can deduct only the taxes part of it.
     

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