AKL Financing?

[rchristiansen]

Does anyone know what the financing rate/terms are for the AKL add-ons? We are self employed and get most of our money at the end of the year - after September. I told my DH we might have to buy our 2007 Christmas gift in February! I would need to finance it for this year and pay it off at the beginning of next year. Any thoughts on that?

 

[Disney1fan2002]

Does anyone know what the financing rate/terms are for the AKL add-ons? We are self employed and get most of our money at the end of the year - after September. I told my DH we might have to buy our 2007 Christmas gift in February! I would need to finance it for this year and pay it off at the beginning of next year. Any thoughts on that?

My only suggestion, is choose the 10 year term. You get the lowest interest rate, and there is no pre-payment penalty.

We will be going with the 10 year term, even though we plan on paying it off in two years.

 

[CarolA]

I thought the lowest interest rate was the one year payoff?

 

[Caskbill]

I thought the lowest interest rate was the one year payoff?

That's correct.

Currently the 1 year is 5.95%. It requires 50% down payment.

The 5 year and 10 year rates are both 11.75%, and both require a 10% down payment.

This information comes from my 1/1/07 2007 Disney Saratoga Springs Resort Preferred Financing chart we received a couple of weeks ago when we did an SSR add-on.

 

[rchristiansen]

What about the Disney Visa Card? Would we get points or is it considered a cash advance?

11.75% - yikes that's steep. I'd be better off cashing out some CDs and taking the penalty for an early withdrawal instead. Maybe a 1 year with cashed out CDs as a downpayment might be best.

And 50 points is the least amount to finance right? But then you don't get the "discount" or extra points. Hmmmm....

 

[Disney1fan2002]

That's correct.

Currently the 1 year is 5.95%. It requires 50% down payment.

The 5 year and 10 year rates are both 11.75%, and both require a 10% down payment.

This information comes from my 1/1/07 2007 Disney Saratoga Springs Resort Preferred Financing chart we received a couple of weeks ago when we did an SSR add-on.

Oops, sorry, I was backwards!
Thanks for the info.

 

[TenThousandVolts]

Currently the 1 year is 5.95%. It requires 50% down payment.

I thought the 1 year plan was 4.95 with 50% down- unless they raised it in the last few weeks.
edited: it looks like both the 1 year and 10 year program are a point higher- so I guess they just increased.- My info comes from the promo package they sent in December. They must have raised it 1 point around the new year.

 

[rchristiansen]

Ok, I just called and found out -

For 1 Year it's 4.95% and for 5 or 10 years it's 10.75%

 

[Scotch]

I read on another thread that those financing do not have to make first payment until October since the resort won't open until September (?) Does interest start to accrue at closing or when the resort actually opens?

 

[LilMamiBella]

I think your first payment is in May and your first payment with dues is in September/october.

 

[Disney-Kim]

I think you may get 1% point reduction for having your payment debited from your bank acct. I think thats what we got.
we bought SSR before it was finished in Feb (can't remember the year) and didn't make our first payment until June/July...can't remember. Our UY was Feb too.