Disney Vacation Club Financing?

[mtakac]

Does anyone know what the current rates are if you finance through Disney? Or could you point me to the right thread? Thanks!

 

[FamilyGuy]

Ours was @ 9.75%, 5yr term a couple of years back. I think they are still in that 10-11% range.

I am sure someone will chime in with the exact rate.

If you do purchase re-sale, TTS has a re-sale financing company they work with that offers similar rates.

You may want to look into (if it can work for you) a low rate credit card, if the rate is offered for the life of the balance it could save you... watch if it changes after several months or a year, then it could end up costing yuo a lot more.

 

[korbbec]

You may want to look into (if it can work for you) a low rate credit card, if the rate is offered for the life of the balance it could save you... watch if it changes after several months or a year, then it could end up costing yuo a lot more.

I was going to suggest the same. I got mine on a credit card at 5.99% for the life of the balance. I have seen people post that they got it for 0% on their Disney card?!? I couldn't do that. I did have to pay a $75 fee because it was using the cc checks. I also had to take that cc out of my collection so I do not put anything else on it. Once you do, the new charge is at a higher % interest than the original offer and will get paid last- that could cost you.

 

[mtakac]

Thanks for the info. I did find the thread about the resale rates. I could definitely do better with a credit card but I don't think the interest would be deductable on my taxes. Is that correct? Although, even with a deduction on taxes depending on the credit card rate it might still be better with a credit card than financing it. I'm just thinking out loud now and have to crunch the numbers.

 

[HockeyKat]

When we went back in October, it was around 10.75% for a 10yr. I just bought a resale this week from TTS and Benchmark was offering 9.96 on a 3-5yr, 10.96 on a 7-10yr.

As far as I know, CC interest for this purpose would not be deductible. Property taxes still would.

-Kat

 

[rigsby25]

I was going to suggest the same. I got mine on a credit card at 5.99% for the life of the balance. I have seen people post that they got it for 0% on their Disney card?!? I couldn't do that. I did have to pay a $75 fee because it was using the cc checks. I also had to take that cc out of my collection so I do not put anything else on it. Once you do, the new charge is at a higher % interest than the original offer and will get paid last- that could cost you.

I am putting 9300.00 on the credit card, and then when the bill comes, I'm paying it off with a line of credit home equity check and keeping the reward points.

 

[SamRoc]

I am putting 9300.00 on the credit card, and then when the bill comes, I'm paying it off with a line of credit home equity check and keeping the reward points.

sorry, this is off topic, but i am looking for a new credit card. which one would you recommend that has good reward points? thanks!

 

[mtakac]

sorry, this is off topic, but i am looking for a new credit card. which one would you recommend that has good reward points? thanks!

As a Disney fan, you might want the Disney Visa from Chase. You earn 1% in Disney rewards that you can use at the parks, in stores or online. The regular APR isn't great but if you pay it off each month like I do it's a nice perk. I think I recently earned 2% for groceries for a short period but that's that first time they every offerred any bonus in the 3+ years that I had it.

Discover's is also 1% but they offer 5% bonus every couple months on a different popular catagory. Right now it's travel - hotels, airfare, etc. Once it was auto - gas, repairs or groceries. In addition, you can redeem your rewards for the cashback amount or increase (up to double) by choosing a reward from one of their "partners." It's one of the better deals out there IF you would actually use one of their partners. I always choose to cash in my $20 reward for a $25 Bed Bath and Beyond gift card because I shop there a lot.

 

[Monagles]

Keep in mind the 10% rate from Disney is their preferred credit rate. It can be as high as 14% or so. I don't know the credit score cutoff.


-D

 

[rigsby25]

sorry, this is off topic, but i am looking for a new credit card. which one would you recommend that has good reward points? thanks!

My favorite card is the American Express 1-2-3 card that you can get at Costco. You always get 1% back on regular purchases, 2% back on travel, and 3% back on eating out. I'm a balance payer though.

 

[FamilyGuy]

I just checked today with my guide, the rates are now 10.75% for any term of loan. They will ammortize up to ten years if you wish. In '04, when we purchased @ SSR, it was 9.75% up to 5 years, and 10.75 for any term greater than 5 years, up to a max of 10 years.

 

[tfc3rid]

I will concur with what Family Guy said...

I just made my Add-On purchase and my gude is working on my down payment as we speak... Welcome home for the 3rd time!