Buying into DVC

[goofymomof2]

I know this question has been asked before but I am new to this. What kind of credit do you have to have & how much of a down payment. My Mom & myself have been thinking about becoming DVC members. She has the perfect credit & I on the other hand have the ok credit. Also how many years does it take before this starts paying off. We have been to Disney for the past 2 years. We have stayed at Dixie Landing & this year we rented points & stayed at OKW. Disney will be our vacation spot for the next few years or until our kids want to go somewhere else. My Mom thinks it would be cheaper to keep renting point or staying at the moderate resort due to the payment & dues each year. Could you please help me to help her understand that this would save us money in the long run. I have been the one paying for the rooms for the last 2 years.

Thanks,
Bubbles

afhyppie@alo.com : confused: : crazy:

 

[TnRobin]

I know this question has been asked before but I am new to this.

No problem bubble, we are glad to help. My first suggestion is to review the FAQ post at the top of this board. I believe it will help you quite a bit.

What kind of credit do you have to have & how much of a down payment. My Mom & myself have been thinking about becoming DVC members. She has the perfect credit & I on the other hand have the ok credit.

Disney works with everyone to try to make the financing go through, even if you do not have perfect credit. They may want a larger downpayment, but they will work with you

Also how many years does it take before this starts paying off.

Depending on your vacation habits I would estimate around 5 - 7 years.

We have been to Disney for the past 2 years. We have stayed at Dixie Landing & this year we rented points & stayed at OKW. Disney will be our vacation spot for the next few years or until our kids want to go somewhere else. My Mom thinks it would be cheaper to keep renting point or staying at the moderate resort due to the payment & dues each year. Could you please help me to help her understand that this would save us money in the long run. I have been the one paying for the rooms for the last 2 years.

If you are only planning on using the DVC interest for a few years, this may not be the best option. Although you will be able to resale you interest later (maybe at an even higher price per points), the commissions paid to your broker would probably eat up all (and plus some) of any benefit you received. Now if you are planning on using Vero Beach and Hilton Head locations after you are done with the WDW resort. That would be a different story.

 

[goofymomof2]

Robin
Thanks for the help. The person we rented points from work for DVC & she is going to send us some info.
Bubbles

 

[wdwnut]

Bubbles: welcome to the boards. after you get your info from your guide and also read through the faq on this board, post any questions you have. there are a ton of knowledgeable people here who will help you out.