Current DVC incentives questions....

[amylock]

We are really close to taking the plunge and purchasing for SSR. I have not tried to call the sales person we spoke to last year because of Frances. I am hoping that someone here who has purchased recently can help with this question...

Can the $10 per point incentive be applied to the downpayment? That way less $$ out of pocket for the DP to get 20%.

Thanks a bunch!

Amy



PS. Everyone in Florida stay safe! I have family in Clearwater, all are in our thoughts!

 

[tjkraz]

Probably not. Ask your Guide to confirm.

When we purchased a year ago, the minimum down was 10%. Promotional pricing did NOT contribute toward the down payment, and I doubt they have changed that philosophy since.

You mentioned 20%, although I do believe you can still purchase with as little as 10% down. However, 10% down will probably leave you with a slightly higher interest rate.

 

[pplasky]

Yes you can use the incentive towards your down payment. We just did the same exact thing. We put 10% percent cash and used the disney incentive to bring our total down payment to 20%. This allowed us to get the lower financing rate as well! Good Luck.

 

[amylock]

Thank you for the info. When Francis settles down, I'll give Kim a call.

Oh - is it still no interest or Payments until April?

Amy

 

[pplasky]

We had the option of payments starting May 15 or June 1st, which is even better than the april date everyone seems to be quoting!

 

[amylock]

Does that mean your use year is May or June? Not that it really matters with all of the banking and borrowing options.......

Amy

 

[pplasky]

Our use year is March. I believe Disney is offering the no interest, no payment deal because the actual property we are buying into will not be completed until April. We are planning our first trip for July, so it really doesn't matter to us this year, but there may be years that we want to vacation over Easter Break and want the points available for that time period. Hope the info helps.

 

[amylock]

Thanks so much for patiently explaining everything. I really appreciate it!

Amy

 

[ScottNBecky]

We bought 160 points. We then took $1600 credit ($10 a point) and applied that to our downpayment (we still had to pay 10 %), but after adding the $1600 our monthly paayment dropped around $40 a month, so it was wwell worth it for us. If you have any other Q's feel free to email me at: unc6@Hotmail.com