Average monthly payment for membership

[SolPlyr]

I know this is kind of a hard question to answer because everyone is different. But, I'm going to ask it anyway

What is the average monthly payment that is made for a DVC membership? Now, I'm basing my question on a family that financed the membership as opposed to paying the whole thing off in one shot.

 

[kenny]

All depends on how much you finance and what interest rate you have. Best bet would be to use a mortgage calculator and plug in your info. They are fairly common if you search online.

You also have maintenance fees but again, they vary by resort.

Sorry no clear cut answer.

 

[Sandisw]

I know this is kind of a hard question to answer because everyone is different. But, I'm going to ask it anyway

What is the average monthly payment that is made for a DVC membership? Now, I'm basing my question on a family that financed the membership as opposed to paying the whole thing off in one shot.

Here is a BLT scenerio: New member buy in @ 160 points. 10% down and financing the balance (including $400 in closing--not sure exact amount).

Monthly payments would range between $225/month (preferred rate) to $260/month (standard rate) for a 10 year loan. MF would be $587.20 per year--current rate so around $49.00 per month. These will go up each year.

HTH.

 

[SolPlyr]

WOW! That's much more affordable than I was envisioning. I knew that the overall price wasn't too bad, but I would have thought that the monthly payment would have been much, much more.

 

[bumbershoot]

WOW! That's much more affordable than I was envisioning. I knew that the overall price wasn't too bad, but I would have thought that the monthly payment would have been much, much more.

We thought so too. And those prices are just about exact for BLT...

 

[hopare]

WOW! That's much more affordable than I was envisioning. I knew that the overall price wasn't too bad, but I would have thought that the monthly payment would have been much, much more.

Yes , me too. Thos numbers tyhe previous poster stated are right on. I spoke to our guide on Friday and that is what we are looking at. It was $219 a month for preferred financing( for 10 years) and $49 month for fees. The down payment at 10% was $992 after the $5 credit was given for down payment. And a free 3 day cruise on top of it all!
Now all I need to do is show my hubby what a good deal this is!

 

[mmcculloch]

We too just financed through Disney because the monthly payments were affordable. However, we will pay the balance within a year because the interest you pay for ten years is crazy!

 

[JimMIA]

Here is a BLT scenerio: New member buy in @ 160 points. 10% down and financing the balance (including $400 in closing--not sure exact amount).

Monthly payments would range between $225/month (preferred rate) to $260/month (standard rate) for a 10 year loan. MF would be $587.20 per year--current rate so around $49.00 per month. These will go up each year.

HTH.

So, roughly $300 per month for a minimum buyin...or $3,600 per year for vacation lodging only.

To that, of course, you have to add travel expenses, tickets, food, and trinkets, etc.

 

[bumbershoot]

So, roughly $300 per month for a minimum buyin...or $3,600 per year for vacation lodging only.

Of course it's not 3600/year for the entire 50 years.

 

[YourEveryDayAdam]

the $3600 per year is pretty much a locked in rate. The only thing that would go up would be the MFs, and they haven't gone up any faster than inflation has... The MFs are just a fraction of the cost of the hotel rooms:

BLT right now is $50/mo for the minimum buy-in: that's $600/yr. that gets you a week and a few days at the BLT. That's about $80/night...

The real Value in DVC doesn't come from the numbers you run now. They come from the costs in say, 10 or 20 years when you run the numbers.

So imagine, if you bought in to DVC 10 years ago. You're all paid off with it, and all you are paying is maintenance fees. Even with the 4/3 promo, a week at OKW is $2000 for 2 people, 7 nights, with park tickets. The 160 points that cost you $756.80 in fees. add $800 for an annual pass for your two people and you are only paying $1556.80 for the same package. And the week at OKW only costs you 98 points. You still have 62 points left for 4-5 more nights.

The math works out even better for you when the economy isn't in the tank and Disney isn't desperate to fill rooms. The numbers would be even more in favor of DVC if you don't have any coupons, codes or specials to use. If you were to use all 10-12 nights all at once, you could just go for a 10 day park hopper with WPF&M, and go to water parks some days and theme parks the rest...that ticket would cost you $680 for the two people instead of the $800.

 

[JimMIA]

Of course it's not 3600/year for the entire 50 years.

Right, most of that would go away when the mortgage is paid off, and then they'd just pay the annual dues. However, for figuring out if someone can afford DVC now, you have to use that figure for ten years, or whatever the financing term is.

Plus the other costs I listed -- depending on your family size and vacationing style -- could be more than the mortgage/dues each year.

There's nothing cheap about a Disney vacation, even with DVC.

 

[starbox]

Right, most of that would go away when the mortgage is paid off, and then they'd just pay the annual dues. However, for figuring out if someone can afford DVC now, you have to use that figure for ten years, or whatever the financing term is.

Plus the other costs I listed -- depending on your family size and vacationing style -- could be more than the mortgage/dues each year.

There's nothing cheap about a Disney vacation, even with DVC.

And that 160 points does not go as far as it used to.....

We bought in @ SSR when it was 86$ a point. We got 175 points - MF and monthly payments were around 275$ w/preferred financing. We'd been paying about that amount annually for 7 nights at POR or CSR including hoppers and dining plan.

Children become adults in terms of Disney pricing on their tenth birthday - and tickets/food cost doubles. (We had two turn ten in the past two summers and all I can say is OUCH!)

Eventually, it will be a cheaper vacation - but to make it to that point, you really have to stick with Disney vacations for more than 10 years.

 

[starbox]

Right, most of that would go away when the mortgage is paid off, and then they'd just pay the annual dues. However, for figuring out if someone can afford DVC now, you have to use that figure for ten years, or whatever the financing term is.

Plus the other costs I listed -- depending on your family size and vacationing style -- could be more than the mortgage/dues each year.

There's nothing cheap about a Disney vacation, even with DVC.

And that 160 points does not go as far as it used to.....

We bought in @ SSR when it was 86$ a point. We got 175 points - MF and monthly payments were around 275$ w/preferred financing. We'd been paying about that amount annually for 7 nights at POR or CSR including hoppers and dining plan.

Children become adults in terms of Disney pricing on their tenth birthday - and tickets/food cost doubles. (We had two turn ten in the past two summers and all I can say is OUCH!)

Eventually, it will be a cheaper vacation - but to make it to that point, you really have to stick with Disney vacations for more than 10 years.

 

[UmmGooD]

Or you could rent 160 points for 1600 a year, save 2000 a year and pay cash for your membership in 5 years resale. Of course rents can go up and so can the buy in cost but you won't pay 20000 grand in interest.

 

[disneynutz]

I read that the dues for BLT are currently subsidized by the developer for marketing reasons and at some point they will increase to their true cost.

Any thoughts on when and how much?

 

[hopare]

My gude said that he believes that they will stay low because it has less to maintain. He said something about less grounds because it is multiple floors and something about sharing check in space with the Contemporary.

 

[CruznLexi]

I have a hundred point payment. We live in FL and do not have any kids. We do bring nephws and nieces but the values are fine for us. Our payment is about $145 and that has MS in it too.
Lexi

 

[Reginak]

Three things to consider:

If you are already going to WDW then consider that cost when you are looking at the numbers. The year that we decided to buy DVC I looked at the cost of our stay at the Poly and realized that money would make a great down payment for DVC and that we wouldn't be paying that much extra per year to finance.

You can deduct the interest when figuring your taxes which reduces the cost somewhat.

Once the payment is part of the monthly budget then the cost of a Disney seems less painful. (I realize that that is a game of smoke and mirrors since the money is really coming out of your budget anyway - but lodging cost doesn't seem to come out of discretionary income like a trip anywhere else.)

The real pain didn't come until we adopted three more children and started looking at ticket and food prices - especially now that two of them are considered adults!

Regina

 

[redrosesix]

Could somebody tell me how they decide whether you're financing with a preferred rate or a standard rate? The difference in interest costs is substantial.

 

[pickles]

based on the figures someone used earlier, how much extra are you paying on interest over the 10 years?