Cost efficient ways to finance direct purchase

[Cfabar1]

I use the Amex Blue Business regularly... Great card, great experience with them... In general I like Amex more...

That said, I waited for years before having Chase Cards... and when I finally started Chase cards in 2020 I have been pretty pleased... My credit limits have been very high... enough to put a direct contract on... so that could be your experience as well..

My Amex cards also would allow for that kind of spend, but I ended up using the ladder approach with the DVC to get 9 months of interest free payments. I believe they have dropped that now down to 8 months....

 

[MicheyMouse]

Be wary if you plan to use a personal card it might tank your credit score for a while due to the likely high, near maxed utilization.

 

[VGCgroupie]

Be wary if you plan to use a personal card it might tank your credit score for a while due to the likely high, near maxed utilization.

Totally worth it. Unless you are trying to buy a house it’s not a big deal. The score will bounce back quickly

 

[cruisehopeful]

Totally worth it. Unless you are trying to buy a house it’s not a big deal. The score will bounce back quickly

Mine went from excellent to very good and back to excellent in the span of about 2 months.

 

[Steelers0854]

I haven’t seen it mentioned yet, but when we bought I actually thought the direct financing was a good deal. Since we were members already for a year it was no credit check, it doesn’t show on my credit report (which i guess could be both good and bad), I can pay it off via credit card that codes a travel on chase (the auto payments for the minimum cant be done via CC, but we make extra principal payments each month), and the interest rate is a reasonable 8.99%, when mortgages are in the 7% range, this is a great deal for what is essentially a vacation home. Combine that with the fact I can write off the interest payments as I get a 10-98. All in all a good way to do it IMO.

 

[Girlstar30]

I haven’t seen it mentioned yet, but when we bought I actually thought the direct financing was a good deal. Since we were members already for a year it was no credit check, it doesn’t show on my credit report (which i guess could be both good and bad), I can pay it off via credit card that codes a travel on chase (the auto payments for the minimum cant be done via CC, but we make extra principal payments each month), and the interest rate is a reasonable 8.99%, when mortgages are in the 7% range, this is a great deal for what is essentially a vacation home. Combine that with the fact I can write off the interest payments as I get a 10-98. All in all a good way to do it IMO.

I agree the 8.99% rate is very reasonable for financing after 1 year for those that dont have $30k to spend right away.

Our plan right now is to probably sell our baylake sadly after we strip the hell out of it lol and then pay the difference of direct Riviera after our 1 year anniversary in March (hopefully riv is still for sale). And use that financing if need be or we decide not to sell BLT which is very possible. I hope they dont change that favorable rate while we wait.

It happened to work perfect because we have a February trip and then can sell it with no trips pending so I see that as a sign. I really hope Riv doesn't sell out in 10 months I heard it is 94% declared or something and closing out sooner than expected of the two years previously mentioned I know LSL is probably not going to be my thing and neither poly so im leaving it to fate or beach club 2.0 lol