? Add-on and finance

[Mickbee]

Could someone explain what is involved in financing an Add-On through Disney if you already have a primary contract financed through them?

For Example: How much is required for down payment, Rates, length of contract, amount of paperwork involved, approval process, etc.

My guide informed me it is a really quick process because you are already part of the family and it is hassle free.

My thought is: If I finance the Add-On, I can pay very large principle payments using my American Express monthly, which will earn me Reward points for flights etc. By paying cash, this is not an option. Also, I want to avoid putting the entire amount in one shot on the AMEX. That would be a big nut to swallow.

This is my logic with the primary contract.

As always, thanks in advance...

 

[Rock'n Robin]

We financed our VWL add on in June. It is actually a shorter term than our principal BWV points, although it is a higher rate since we had the introductory BWV deal. We have 160 at BWV and now 100 at VWL.
You get basically the same paperwork package--sign by the Mickey ears, date by the palm trees. It is a separate financing package. They did give us the same use year and are taking our principal and dues payments out of the same account at the bank each month as our first contract. I would guess 10% is required for a down payment, although I don't know since we put down 33%.
It was a really quick process, and if you want VWL it is the way to go I guess since it will supposedly sell out this fall.
Robin M.
Poly 6/2000
BWV 6/2001
BWV/VWL 7/2002

 

[RobDoc]

You will need to have the particular details explained by your guide or MS account administration, but if you have financed your contract (original or add-on) thru DVC, you can always pay extra principal and use your AE card. I'm not sure if they will set up a monthly credit card payment, but they will certainly allow a direct debit from a checking account.

You can easily check with the accounting department- they may be accessed thru one of the phone selections when you call MS.

Good Luck!