Another great reason to have multiple smaller contracts.

[ssawka]

I am just posting this to help anyone who may be considering buying DVC. It has been mentioned many times on these boards the advantages of splitting your membership into smaller contracts. Well recently I've come to realize another benefit of seperate contracts. Last week the transmission in my vehicle went. I paid a good chunck of change to get it fixed, but since the car has close to 90,000 miles on it and I know nothing about cars , I'm seriouly considering buying a new car.

Anyway, when we bought into DVC last year we financed nearly the entire amount. The way it works with multiple financed contracts is that you open a loan for each contract such that each has its own balance and its own minimum monthly payment. Since we bought, we have been making extra payments on the principal, but we have only been making the extra payments to one loan and not the other. To make a long story short, since we have been only paying extra on one loan, that loan is almost paid off. So, getting back to the car, if we pay the first loan off we will cut our monthly minimum DVC payment in half, leaving more money in the budget for car payments.

 

[Camping Griswalds]

Or if the car keeps on ticking...more DVC points

Good use of small point contracts and paying them off though! Kudos to you!


I have not had a car that I didn't drive over 100K miles. We take good care of them, but not excellant care. Anyway, we just traded in our 1996 Ford Taurus with 221,000 miles. The yukon xl that I drive has 170,000. Don't give up on a vehicle that only has 90K! Heck for us, that car is just getting broken in!!

 

[ssawka]

Or if the car keeps on ticking...more DVC points

Good use of small point contracts and paying them off though! Kudos to you!


I have not had a car that I didn't drive over 100K miles. We take good care of them, but not excellant care. Anyway, we just traded in our 1996 Ford Taurus with 221,000 miles. The yukon xl that I drive has 170,000. Don't give up on a vehicle that only has 90K! Heck for us, that car is just getting broken in!!

Normally I would agree, but a car shouldn't need a new transmission at 90K either. It just makes me wonder what is next.

 

[KiminChicago]

It really depends on the car. Chryslers were notorious for a while for lousy transmissions. We had a Chrysler mini-van that needed a new transmission at 60,000 miles. We drove it a few months and then the transmission went a second time (fortunately it was soon enough that the dealer replaced it without charging us). Then we drove the car another 130k miles before trading it in.

 

[ssawka]

It really depends on the car. Chryslers were notorious for a while for lousy transmissions. We had a Chrysler mini-van that needed a new transmission at 60,000 miles. We drove it a few months and then the transmission went a second time (fortunately it was soon enough that the dealer replaced it without charging us). Then we drove the car another 130k miles before trading it in.

Right, that's the problem. You never know! That's why I'm thinking of getting rid of the car now while it still has a resale value and getting a Kia or a Hyundai with the 10yr, 100,00 mile powertrain warranty.