This is me! The amount makes me cringe. Of course it will make me cringe whether I do it now or wait until next year. I know I am giving into FOMO if I pull the trigger now, but will I be kicking myself later when I have to pay even more? Probably. We know we definitely want more points, we want the blue card, and while I am not in love with GF, I wouldn’t regret owning there either. We want a monorail resort and well, “check”, “check” and “ “check”.
And as someone else pointed out, I was also worried the 150 minimum for eligibility might get bumped again since it's climbed quickly over recent years. It does seem like there's been a few weeks advance notice when that happens, but if it's at time when incentives are less appealing but I hustle up and buy then instead of being able to wait for a better deal then I'll be mad at my past self.
How do the payments work? Is DVC charging 1/3 of the total price every month and you have 6 month at zero interest starting that month for all 3 charges? So in theory your last payment is actually 9 month interest free?
So I was able to split payment into quarters. Has to be at least 5K down upfront I think it was. I arranged it as 25% now, 25% June 1st, 25% July 1st, and then the last 25% charge at the end of July. Each charge has its own 6-month window. It'll be a rolling window of six months on each with that last payment having to pay off in about nine months then working back a month less on each of those earlier charges.
This is good to know that they are still allowing to split payments essentially up to 90 days out. I thought I read that they were pushing back on this and were only allowing to split payments twice.
Yeah, the Guide said the end of July was as far out as she could push the third payment for "90 days" out. It was close, but just a little under.
Correct, you would need a limit high enough to cover whatever amount you're going to keep under the six months no interest. So if the total purchase is 2x your limit, then only the second half gets the 6 months. That is a little more restrictive, so adjust your approach accordingly.
Yes, right on the same card. I did more than 5K and just went ahead with the 25% down now instead of the minimum, but I could have done thirds of total purchase price minus the initial $5K down.
Thank so much! Gotta talk to the hubby again with all this info
Still might hold off till right before the current incentives end to see how the new ones look like. I hope the Magical Beginnings Program at their current rate will still be around then.
Not to complicate things further, but this was interesting on that idea for the next wave of unknown incentives.Thank so much! Gotta talk to the hubby again with all this info
Since this is a real estate deal, I believe until all the payments are received, they won’t be able to close the deal (record the title etc) until then. That’s probably why the guide said that. Because I asked about the whole process once we decide to add-on and what happens next. I said - wow, the points are loaded onto your account and can make reservations on May 16th and we’re not paid in full by then. She said yes that’s right. They’re not able to close and record the title or deed until it’s paid in full. But the best route probably would be to be within the recession periods to be extremely safe IMO.
That makes sense. It is surprising to have access to the points before it's paid. I was curious what they do if someone defaults during the process and have already used points, but didn't ask.
Yeah I don’t know what happens if one has used the points before paying in full. However in the case for VDH, she said that DVC can always cancel the reservations if it’s not paid in full by the agreed upon time window and since it’s not opening til late September, this wouldn’t happen at VDH.
Can I ask how did you get the 18 month pay over time with 0 fees? I have the chase Sapphire card, but I cannot find details about it this anywhere. Does it have to be a newly opened card?
