BCV presale question

[Johnnie Fedora]

If you buy BCV during the presale time period, when do you start paying if you finance through Disney. I'm sitting on one of those credit card checks that is offering me 5.9% until the balance is paid off. I want to compare that to Disneys finance rates and consider the tax implications of these financing options.

 

[newt1912]

I just purchased into DVC so I have financing paperwork in front of me.

Direct Debit Payment
3, 5, 7, or 10 years - 10.95%

50% down, 1 year - 5.95%

Regular Statement Payment
3, 5, 7, or 10 years - 11.95%

50% down, 1 year - 6.95%

We signed paperwork while in WDW mid January and just sent our more formal paperwork back FedEx this week and our first loan payment is due in April.

Hope this info helps.

 

[Pluto4President]

I would assume that the payments start immediately, even though you can't stay at the resort

 

[kem330]

I'm guessing you will have to put 20% or so down to hold the contract and then you will not make payments until you close- which in BCV's case may be September. Points would not be available for use until then. (You can make a ressie after you make a deposit, for a stay Sept 1 or later- but no bank or borrow until closing).

 

[chris1gill]

Be VERY careful using a credit card @ 5.9% interest... call & ask for the monthly payment for whatever loan period you are looking at.... I was interested in this when it was offered to me at around 5%, then I found out that because it was compounded daily instead of monthly, it actually cost more & you lost the interest write off (albeit a small amount)...