Buy Questions

[MarriedAtDisney]

Interested in buying - have a few questions.

1. What deals are they offering now on Financing. Is it better to use them or a home equity line or line of credit?

2. Is the interest on a loan tax deductible?

3. Can you negotiate or are prices fixed (not just negotiate cost, can you get other things thrown in?)

4. When do you actually pay dues for SSR (since it doesn't open until next May)?

5. Are there other charges beyond Dues when you stay?

6. If you buy through Disney, what's the deposit, when is closing, can we still get the $10 discount if we're just now talking to them?

7. Any other advice??

thanks all.

p.s. Yes, married at Disney (reception at GF) - best decision ever. DW wants to go back to GF.... trying to convince her this is better thing to do than just pay as we go at the resorts...

 

[walkerfamily]

Hi

I am new with this too but I think that I can answer your questions...

1. As far as I know the financing is a set rate 9.75%. We looked into getting a personal loan through our bank and they said that they hardly ever finance timeshares because most people don't fulfill their contracts after the "newness runs out" I am not sure about a home equity loan...check your bank and see if they will.

2. Yes

3. Prices are fixed, unless you want a resale.

4. depends on your use year... although SSR opens in May, my use year is in Sept. so I will not have to start paying dues until Sept.

5. Yes and no. For instance if you wish to have housekeeping more than once every four days then you have to pay an extra fee. I enjoy my privacy...I hate when you are in the middle of getting ready and you hear "HOUSEKEEPING" But there are no "hidden" fees that I know of.

6. atleast 10%. I beleive you will have to sign before Nov. 1st to get the $10 off.

7. Hmmm... my DH and I were going back and forth about resales vs. SSR because we like BWV and it is hard to tell what SSR is really going to be like. We like the fact that you are getting an extra 12 years with SSR, a major discount right now, easier financing with Disney, the location of SSR and it seems like the more we discussed a resale the more we knew that SSR was more for "us".
Also, we went from 150 point contract to a 200 contract because we were thinking that we would be restricting ourselves too much with only 150 points.

Does anyone know if there is a penalty for paying off your contract through Disney in one year? I have been reading through it and can not find anything on this....I must be tired.

Good Luck...we visited WDW 25 Sept to 06 Oct and we are signing our contract in two days!

PS I am ADDICTED to this forum. I learn something new everyday.

 

[jaysue]

I do not think there are any penalties - I believe it is an open loan.

thanks
jaysue

 

[dianeschlicht]

Yes, you can use home equity loans (what we did), and there is no penalty for paying off early from Disney.