Downpayment?

[UGAFan0829]

By no means am I trying to be nosey by asking this question, but rather trying to give myself an idea...For those who recetly bought in to DVC, what would the downpayment be for say 150 points? Again, just asking as I am curious to see how much money I want to save up. TIA!

 

[srpietrzak]

You have to put down 20% if you use Disney financing. if it is $98 per point you would have to put down $2,900.

 

[Glorydaz]

well, there are a couple of things that would factor into the anwser...

1. are you buying via Disney or Resale?
and
2. what resort are you buying into?

if you are using Disney financing, how much are you putting down? 10% or 20% ...I'm not sure what the minimum required is at this time.

through Disney , SSR is $101 per point ( not sure what incentives offered - someone else should be able to answer) , all "sold-out" resorts are $93 or $95 (possibly different depending on resort)

if you check out the Timeshare Store, you'll see the various listings and point price difference.

sorry I cannot give you a definitive answer but as you can, it's a little more involved than thought...

 

[Mrs Potato Head]

The current promo through Disney gives either an $8 or $13 credit towards your down payment...so you can factor that into your savings plan!

 

[4mcbjCtr]

Why is it $8 or $13?? What is the difference?

 

[WKSumner]

I would put down as much as you can afford if you are financing as the more you finance the greater the overall cost.

Good luck!

 

[Boston5602]

I put my deposit down less than a month ago for BWV and I had to put 20% BUT my guide told me if I bought SSR it was only 10% down . This may have been because they might have used an incentive credit to bring down deposit, I'm not sure because I wasn't going that route anyways.

 

[web surfer]

Dvc required a lower down payment for SSR?

I didn't know that.

 

[Glorydaz]

well, I bought SSR late Feb and we where only given the 20% option - which was fine for me ... however, I just recently inquired about an add-on and was told the only financing option available was either 5 or 10 years....when I bought, we took the 7 year ( knowing it will be paid off much sooner)...at that time there was also a 3 year in addition to the above mentioned....

 

[Daddio]

Based on the old pricing, a 150 point interest was:

150 X $98.00 = $14, 700

Disney would give you a credit of $8.00 per point to be use as a down payment:

150 x $8.00 = $1200.00

They require 10% real money:

10% of $14, 700 = $1470.00

Balance owing consists of:

$14,700 Purchase Price
- $ 1,470 Your down payment
- $ 1,200 Disney credit

$12,030 Owing or Balance to Finance

 

[browniemtb]

Isn't SSR selling at $101 per point now????Still have the $8 promo rebate.
Disney will accept 10% or 20% down....more if you'd like.
10% scenerio - 150 x $101 = $15,150 ......$1515
less rebate of $1200
so actual out of pocket $315
20% scenerio - 150 x $101 = $15,150........$3030
less rebate $1200
so actual out of pocket $1830

Financing I think will run 10.75% for EFT and 11.75% for statements

Hope my math is correct
Brownie

 

[4mcbjCtr]

Apparently SSR is still $98 for members and $101 for non-members.

 

[Dennyha]

We recently purchased at SSR thru DVD, and we were told the down payemnt needed to be at least 10%, although we put down more. We also got a 9.95% interest rate, perhaps because we put more money down.

 

[Jen D]

Dvc required a lower down payment for SSR?

I didn't know that.

As they always have with the resort currently being sold, they run per-point discounts that can be applied toward your downpayment. I remember a similar offer when BCV was being sold.

They don't offer incentives for purchasing "sold out" resorts.

 

[minny1959]

i just check with dvc web site and they are having the down payment promo. the way i saved for my down payment was i bought 20.00 worth of quarters a day and added extra whenever i could you be amazed how much you can save good luck