5 year term financing question

[LuluLovesDisney]

Has anyone done this?

Is it possible for new DVC (I am just obsessed over BLT!!!)?

Does anyone know the rate and how this is accomplished - is it just delayed billing or is it like taking out a loan with credit score processing, etc.

Also, is there a minimum number of points for BLT?

I am just today starting to learn about DVC and I have a lot to learn, I tried to search for some info, but I am unfortunately really new at this.

Thank you in advance for any help

 

[mgroshans]

we just financed 100 points (new contract) at AKK at $96 point, thru disney financing. we did the 10 year loan, but will get it paid off in 5 years.
i am not sure, but i think a new contract at BLT is minimum 160 points at $112 point with a discount of, i think, $8 point.
Good luck.

 

[wdwfanatic316]

It's an actual loan, where your credit score determines how good of interest rate you get. Your guide will need permission to run all of the name's of the people who will be financing. I'm not 100% sure if they do 5 years, but would think they do.

 

[RobDoc]

Yes, DVC will provide financing for up to 10 years. You can set it up as an auto-debit from a checking account and get a little lower rate. Minimum new purchase for BLT is 160 points. Pricing is $112 per point, but there is a $5 incentive discount for purchases over 100 points (existing members can purchase as few as 25 points at $112 or 100 and over for $107). The minimum downpayment is 10% and the incentive may be applied toward that amount. If there are any credit issues, DVC may raise the required downpayment.

Sales are scheduled to begin for new purchasers on October 5, 2008.

Enjoy!