120 Point Add On Incentive Costs????

[salvatorejrm]

Has anyone purchased the 120 point add on and financed? If so what was the down payment? What were the monthly costs? I have a call into my guide but have not heard back.

Thanks

 

[Tramp68]

I just bought (2) - 120 point add-ons. The 20% down payment was $2640 and the financing is $240 for 10 years.

Since you are getting 120 points you can divide those numbers in half, so, $1320 down and $120 a month.

BTW- I am doing this from memory, the downpayment may be + or minus $25.

 

[DebbieB]

If you buy (2) 120 point add-ons, do you get the 100 bonus points with each?

 

[Tramp68]

Yes, we are getting 200 bonus points.

Alos, these 2 add-ons are actually off of my parent's Membership. The add-ons just made us new DVC members. It was a great deal for us getting started.

Since we already took our 9 day trip this year, we won't be using the new points. It is going to be nice having 680 points available in February!

 

[winjos]

Here's how our add-on is working. We are not eligible for the '04 points because we live in CA and the building in which we would have bought our piece of SSR was not registered there. So, we only get the '05 points. With that said, we get the $8 incentive.
The contract looks like this...

960 credit from Disney
500 initial down payment
1140 balance down payment
2600 total down payment
Amount financed 8800 (22.8%) @ around $116 per month + around $38 mf

For 9.75% you need a 20% down
Under 20% it's 10.75%


Hope this was helpful!

Note to all: Review your contracts thoroughly. I noticed that our initial contract said that we were receiving $5 off per point but not getting the points until Sept. '05 (paying but not getting the '04 points). So, I called quality assurance and they said it was a big oops on their part. I then received a call from my guide stating the registration and CA situation.

 

[salvatorejrm]

Thanks to all that posted, very helpful.

 

[5infam]

Hi Winjos,

We are practically neighbors (we moved from Corona 2 years ago)...and I was wondering if they said anything about when your use year had to be to get 05 points? I spoke to my guide very briefly last week and he mentioned that I may not get points until 06 as I have an April use year. Anyone else know if there is a restriction on use year and getting the 100 extra points. My guide is out til Tuesday so I was trying to get an answer ahead of time. Also, since these are developer points, can we use the 100 points for anything...cruise, II Exchange, rentals, transfers, etc.?

 

[winjos]

Hi 5infam,

That's a good question about use year. Not sure I can help you out though. I bet if you call the DVC sales office someone would be more than willing to answer your question in lieu of your guide. April is just around the corner, so I can see how that would be tricky.

I'm sure others on the board may be able to help out with your questions! Good luck!

P.S. Tired of the rain, I want the 80 weather back!!

 

[5infam]

Winjos...I hear you about the rain!!! I know you want the 80 degrees back, but you know how it is out here...80 turns into 100 degrees real quick - then we will be saying, "Boy I wish some of the rainy cool weather was back". I left a message for my guide to put some pressure on him. Seems like whenever I have done this in the past, he all of a sudden gets really creative. I hope it all works out for us - and good luck to you!!