Buying DVC thru Disney

[goofymomof2]

Like income, credit, & downpayment. We are about 2,000.00 short of the base package.

Thanks,
Shannon

 

[RobDoc]

DVC tends to be very generous with it's credit/financing package. They are very willing to work with people to help make it work.

Since they offer their own financing program, they don't seem to be as tough as many other lenders.

Good luck!

 

[Firefighter Mickey]

What will typically happen, in the case of a poor credit rating, is that they will request a larger downpayment.

You really need to look carefully at your own financial situation to see what works for you, taking into account not only the monthly payments for the loan, but the annual dues payments (which can also be deducted monthly).

 

[goofymomof2]

My credit is not bad.....it's just not perfect. I mean we get loans etc. I was just wondering how they worked it. Alot of lenders look at you income. We have the money to pay for it we were just trying to pay for it in full. I am taking from what you have said that what I have saved will be a good down payment. Also
what is the number of points that people normaly buy. We were thinking about 225-250. Would this be a good number to start with. Thanks again for all the help.

Shannon

 

[Dumbo]

If you are $2000 short of the minimum package, I take that to me that you have about $9000 to put down as a down payment. Trust me. Disney will roll out the red carpet for you. You will have no problem financing DVC with a $9000 down payment.

Dumbo

 

[Firefighter Mickey]

That range of points is a reasonable one to start with, depending on what you're accomodation requirements are, and travel plans, etc. Remember, DVC will let you purchase as few as 150 points, and even 150 points can give you some incredible vacations. But, as many people will tell you, more points are better (if you can afford it).

With banking and borrowing, we've had some pretty incredible vacations; granted, we've not exactly gone every year because we've done the Grand Villa at OKW for a family reunion.

As has been mentioned, if you choose to finance with DVC, then they will do a credit check, and if there are any problems they will discuss them with you and try very hard to come up with an arrangement that works for everyone. I recall seeing on this board a college student with virtually no credit history at all managing to purchase an interest in DVC, and I'm hoping he's enjoying it even now.