AKV incentive money.

[Tony P. IL.]

Has anyone used the $8.00 back per point towards the down payment when financing. And what is the latest interest rate when financing from DVC?

 

[pyrxtc]

I was going to go with the $8 but deceided to do the points instead since I was able to cancel our cash ressie in Dec and get a New one on points in january. Then we can buy AP's since our next vacation will be next December.

I think if you can't use the points, then I would go with the $8. Also, advertised interest rate is 10.75% for good credit.

 

[wildernessDad]

Points was never mentioned to me when I purchased. So the early bird did not get the worm. I took the $8 off and I would have probably chosen that anyway, so it's not that big a deal to me personally, but I could see where some 'founding members' might be upset that they didn't have a choice. I am somewhat upset that I will not be one the first to go to the new AKV.

 

[RangerPooh]

When we purchased (2 weeks ago) our guide explained that we could not use the discount toward the downpayment. Discount or no, we had to pay 10% (In our case, about $2300) down via check or credit card. If we took the discount it would come off the principle of the loan only. Based on this, we chose the developer points. We wanted to see bonus value right away rather than a somewhat reduced payment each month.

 

[hellerjw]

... we could not use the discount toward the downpayment. Discount or no, we had to pay 10% (In our case, about $2300) down via check or credit card. If we took the discount it would come off the principle of the loan only.

That is correct. The $8/pt incentive comes off the loan balance after the 10% down payment. I believe they do that so you can't use it as part of your down payment, they want the full 10% of the total loan, and then they apply the cash incentive.

When we bought AKV in May the 2 options were developer points and the $8/pt incentive. We took the cash incentive. Had they been offering double developer points like some others have gotten recently I probably would have gone that route and either taken an extended vacation in a larger unit or rented them.

 

[Tony P. IL.]

hellerjw is correct. I bought today and had to put 10% down and then they applied the $8/pt incentive which brings down the total loan balance.

 

[queendarvet]

What use year are they selling for AKV? Is it a 2008 year? If so, then am I correct in thinking that if we took the $8 off per point we would not receive any points until our use year in 2008? This would be a good thing for us since we won't be visiting WDW until 2009.