Changes in credit scores?

[Dean]

The interest is fully deductible just like a home mortgage, its considered a 2nd home for tax purposes. Granted, existing assets or the tax bracket you are in can negate this benefit and it is diminished further if the interest rate is truly 15% right now. When it was still 10.75% that was a comparable rate to what most personal loans were at, you can definitely do better than 15%.

I'm not saying your point is incorrect, I'm just offering a possible reason why financing through DVC might be a better option than other loan types for some people.

I totally understand the concept, it's simply foolish. The ONLY time it should matter is if you're going to both finance anyway AND pay that high of interest rate. To paraphrase a comedian, it's like buying an airplane to get free peanuts. Financing a luxury purchase at that rate is also a poor choice but everyone is entitled to make poor choices if they want.

 

[DisDaydreamer]

I totally understand the concept, it's simply foolish. The ONLY time it should matter is if you're going to both finance anyway AND pay that high of interest rate. To paraphrase a comedian, it's like buying an airplane to get free peanuts. Financing a luxury purchase at that rate is also a poor choice but everyone is entitled to make poor choices if they want.

Don't often disagree with you Dean, but a couple points over 10 years is not a deal breaker. (this IS about financing) The points ARE deductible (with them) and you have a lender that is reasonable and accommodating. We did it, and are paid off, and happy. This is couple hundred dollars over ten year's difference. How many tens of thousands of dollars have SMART borrowers lost over the last ten years in the stock market.

It is all relative... measure your situations and make your choice. If it fits... go with it. It was not a poor choice for us.... at 10.95%

Understand everyone... I respect and love Dean's opinions.

 

[DisDaydreamer]

Anyone else falling into the catagory....

I dont care if anyone financed their DVC and I dont give a hoot what anyone thinks if someone does?

That would be me I think..... except, I get caught up in trying undo the bad taste that people get from these types of threads.

 

[BWV Dreamin]

Anyone else falling into the catagory....

I dont care if anyone financed their DVC and I dont give a hoot what anyone thinks if someone does?

Too funny! Hmm...nope don't care.

 

[DisDaydreamer]

My motivation was to save people from being cheated and/or impoverished by our beloved DVC.

I have read and responded to your threads over the years.... Early on... defending you.

Tonight... I spent about 25 minutes crafting a detailed response to your post and ultimately decided... Don't do it Rob... you will just get in trouble with the mods.

So.... Mr. Walsh... I wish you would just be with us daily and contribute daily with bits of opinion and interacting with the forum. Trust me.. it is much more rewarding to be a so-so daily contributor than an alarm pulling, once in awhile contributor.

You do bring up many interesting topics... but I wish you wouldn't make them so alarming or agitating.

Hope that gets my point across without acquiring undesired points for myself.

 

[Dean]

Don't often disagree with you Dean, but a couple points over 10 years is not a deal breaker. (this IS about financing) The points ARE deductible (with them) and you have a lender that is reasonable and accommodating. We did it, and are paid off, and happy. This is couple hundred dollars over ten year's difference. How many tens of thousands of dollars have SMART borrowers lost over the last ten years in the stock market.

It is all relative... measure your situations and make your choice. If it fits... go with it. It was not a poor choice for us.... at 10.95%

Understand everyone... I respect and love Dean's opinions.

As I said, your choice, it's your opinion that matters for your situation, just trying to get people to think about what they're doing. IMO, it's still a poor choice to finance a luxury purchase at above market rates, or likely finance at all.

 

[DisDaydreamer]

As I said, your choice, it's your opinion that matters for your situation, just trying to get people to think about what they're doing. IMO, it's still a poor choice to finance a luxury purchase at above market rates, or likely finance at all.

I know you well enough to know your intent... Sometimes a poor choice is the best choice.... sometimes... and for some.

Understand everyone, Dean is a friend, and we disagree sometimes. Not often.

 

[ericamanda01]

To each his own. I personally don't care how others pay for their membership. If you can pay cash, good for you. And if you finance then good for you as well. I don't see how another member pays has anything to do with me. I know what our interest rate was when I signed the paperwork it was clearly printed in bold numbers. So I don't think anyone needs it announced here what the rate could be. This topic is so old, cant we move on and celebrate being members regardless of how we became that way?

 

[Dean]

I know you well enough to know your intent... Sometimes a poor choice is the best choice.... sometimes... and for some.

Understand everyone, Dean is a friend, and we disagree sometimes. Not often.

Beer's on you, LOL.

 

[DisDaydreamer]

To each his own. I personally don't care how others pay for their membership. If you can pay cash, good for you. And if you finance then good for you as well. I don't see how another member pays has anything to do with me. I know what our interest rate was when I signed the paperwork it was clearly printed in bold numbers. So I don't think anyone needs it announced here what the rate could be. This topic is so old, cant we move on and celebrate being members regardless of how we became that way?

I agree with everything you said, except we have new members here everyday and nothing is old to them... So everything is new to someone and we need to sometimes rehash things for the new members. I've only been here since 06 and I learn something new pretty much every day. Old is only relative to the beholder.

 

[JimC]

For a basic understanding of credit scores look at the Fair Issac web site. Also keep in mind that there are variations and customized credit scores in use. For example you could pull your credit score fro the three reporting agencies, ask you bank, your auto dealer and your insurance company to pull scores. Even if you did it on the same day you could easily end up with six different scores.

 

[DisDaydreamer]

Beer's on you, LOL.

Gotcha... BARTENDER! One more down here for my friend! On me.

 

[Liljam]

In the time I've been here I have to say DisDaydreamer and Dean are both awesome people here to help out with anything! Dean - you amaze me with your knowledge, but after 19k posts, hey whatever !

Guys (and gals) I must say this - I too get totally fed up with the "if you can't pay cash" speil. Now, insightful posts offering financial advice and mentoring are great, and opinion is never bad or wrong, but I get so sick of feeling like I'm not as good as half the people on this board because we HAD to finance ours. There's a thin line here. Now, I don't think Dean is a meanie for thinking I shouldn't have financed my luxury purchase because he doesn't know beans about my financial situation and he kindly states his opinion and moves on. BUT there are and have been for the duration of my stay on this board people who downright attack others who finance and make it their mission to make them see the light. It really sucks, and I for the record am one of the people getting on the "I financed and don't care what you think about it" bus! Where'd that hippie emoticon go anyway?

 

[Laurabearz]

That would be me I think..... except, I get caught up in trying undo the bad taste that people get from these types of threads.

I have read and responded to your threads over the years.... Early on... defending you.

Tonight... I spent about 25 minutes crafting a detailed response to your post and ultimately decided... Don't do it Rob... you will just get in trouble with the mods.

So.... Mr. Walsh... I wish you would just be with us daily and contribute daily with bits of opinion and interacting with the forum. Trust me.. it is much more rewarding to be a so-so daily contributor than an alarm pulling, once in awhile contributor.

You do bring up many interesting topics... but I wish you wouldn't make them so alarming or agitating.

Hope that gets my point across without acquiring undesired points for myself.

 

[DisDaydreamer]

In the time I've been here I have to say DisDaydreamer and Dean are both awesome people here to help out with anything! Dean - you amaze me with your knowledge, but after 19k posts, hey whatever !

Guys (and gals) I must say this - I too get totally fed up with the "if you can't pay cash" speil. Now, insightful posts offering financial advice and mentoring are great, and opinion is never bad or wrong, but I get so sick of feeling like I'm not as good as half the people on this board because we HAD to finance ours. There's a thin line here. Now, I don't think Dean is a meanie for thinking I shouldn't have financed my luxury purchase because he doesn't know beans about my financial situation and he kindly states his opinion and moves on. BUT there are and have been for the duration of my stay on this board people who downright attack others who finance and make it their mission to make them see the light. It really sucks, and I for the record am one of the people getting on the "I financed and don't care what you think about it" bus! Where'd that hippie emoticon go anyway?

Please... call me Rob... We're friends. Hmmm... hippie... maybe we just connect. Stick around girl.. you make sense. I mean... please keep posting here.

 

[supersuperwendy]

This conversation can go round and round just like Cinderella's Golden Carrousel..! Get me off..I'm dizzy!

 

[robandkelly13]

I thought it was just me. I am glad there are people out there who can pay up front for these luxury purchases, but I am not one of them.

 

[disneynutz]

It really sucks, and I for the record am one of the people getting on the "I financed and don't care what you think about it" bus! Where'd that hippie emoticon go anyway?

We financed some of our contracts.

 

[Disneypirate85]

I agree with everything you said, except we have new members here everyday and nothing is old to them... So everything is new to someone and we need to sometimes rehash things for the new members. I've only been here since 06 and I learn something new pretty much every day. Old is only relative to the beholder.

Good point...forget about new posters how they may look at it.

 

[Mattsmommy]

http://www.disboards.com/showthread.php?t=2071360