Dvc direct payment spread out?

[Moonspinner]

I’ve read on these boards that Disney will allow you to pay for a contract over a couple of months. Just wondering if this is true? So, could I put 50% down when I purchase the contract and pay the remaining 50% in 30 days?

 

[pzw90]

Yup. Can go up 60 days. Very beneficial to spread across different cars with spend bonuses

 

[DavidDd]

Yes, you can pay Disney in parts. Usually, you put down a deposit (like 50%), then pay the rest by 30 days before your trip. You can make multiple payments before the final due date

 

[maui22]

For our purchase on Sunday, our guide said technically it's 59 days because the initial deposit is day 1 + 59 days after that is 60. We set ours up to pay equal percentage every two weeks via credit card. We have to call credit card company before each billing date to let them know there will be 3 charges (3 small contracts) for roughly ____ amount from Disney Vacation Development. Allows us to earn cashback for the payments. YMMV.

In our case, the main goal was to get far enough past the new incentive timeline. She said closing was after the last payment and that starts the rescission counter.

 

[VGCgroupie]

You dont even have to do 50% up front. It's a very small amount. It used to be 90 days, now it is 60, so it can change to 30 in the future.

 

[VGCgroupie]

For our purchase on Sunday, our guide said technically it's 59 days because the initial deposit is day 1 + 59 days after that is 60. We set ours up to pay equal percentage every two weeks via credit card. We have to call credit card company before each billing date to let them know there will be 3 charges (3 small contracts) for roughly ____ amount from Disney Vacation Development. Allows us to earn cashback for the payments. YMMV.

In our case, the main goal was to get far enough past the new incentive timeline. She said closing was after the last payment and that starts the rescission counter.

I am not sure this is accurate. I would 100% not sign the contract if you plan to go past 10 days and cancel. You sign saying you only have 10 days. You have until closing to alter your incentives, resort, points (increase) but even that isnt in the contract it's just something they allow you to do.

 

[Steelers0854]

I am not sure this is accurate. I would 100% not sign the contract if you plan to go past 10 days and cancel. You sign saying you only have 10 days. You have until closing to alter your incentives, resort, points (increase) but even that isnt in the contract it's just something they allow you to do.

This was the same info we got last year when we bought. Basically they will let you change the terms any time up until signing, I think the issue as you said may be pulling out altogether, you may have limited options, but if your buying no matter what then you can rewrite the contracts to take advantage of new incentives as long as you haven’t closed.

 

[PolyRob]

This was the same info we got last year when we bought. Basically they will let you change the terms any time up until signing, I think the issue as you said may be pulling out altogether, you may have limited options, but if your buying no matter what then you can rewrite the contracts to take advantage of new incentives as long as you haven’t closed.

Yes, this is my understanding as well and I did rewrite within the 90 days in the past when it was still offered. I had no intentions on rescinding the sale entirely, but I did increase the number of points purchased so I am sure that made it very simple. I was told I could even change contract sizes and resorts if they have not yet closed.

 

[airjay75]

I recently bough 300 direct RIV points, split into 2 150 point contracts. First payment was required closing costs (and maybe some other required amount) - about $1,000 on each contract. Then, I had to schedule a payment at 30 day and 60 day mark, but those payments were up to me. I think I could have gone as low as $1 on the 30 day payment, but I felt like that was a little too silly, so I did $500 on each contract. Then, the remaining balance is due on day 60 (which is still coming up). I wanted to put as much on the 60 day mark since I'm taking advantage of the 6 month 0% financing on my Disney Visa and figured might as well get as much time out of that as I can.

 

[Brian Noble]

She said closing was after the last payment and that starts the rescission counter.

As others have said, this is definitely not true. Florida law stipulates that the rescission clock starts when the contract is signed or all necessary documents are delivered, whichever is later. (And Disney is very good about document delivery.)

 

[squeezeplay101]

I’ve read on these boards that Disney will allow you to pay for a contract over a couple of months. Just wondering if this is true? So, could I put 50% down when I purchase the contract and pay the remaining 50% in 30 days?

Absolutely. Have done it twice! They've even helped me time my purchase to coincide with my credit card statement windows.

 

[Hypaflex]

I recently bough 300 direct RIV points, split into 2 150 point contracts. First payment was required closing costs (and maybe some other required amount) - about $1,000 on each contract. Then, I had to schedule a payment at 30 day and 60 day mark, but those payments were up to me. I think I could have gone as low as $1 on the 30 day payment, but I felt like that was a little too silly, so I did $500 on each contract. Then, the remaining balance is due on day 60 (which is still coming up). I wanted to put as much on the 60 day mark since I'm taking advantage of the 6 month 0% financing on my Disney Visa and figured might as well get as much time out of that as I can.

I am having trouble figuring out when incentives will be "locked in".

So for example if I commit and give the down payment today, with final payment coming in 60 days, will I be locked in to the current incentives or will I just be subject to what the incentives are (if any) at that final payment day in 60 days. I have heard of people committing (or paying down payment) within a week of the end of the current round of incentives with the premise that their DVC salesman can rewrite the contract a week later if the next round of incentives are better.

Sorry, I am just having trouble understanding this whole process. Thanks everyone

 

[Sandisw]

I am having trouble figuring out when incentives will be "locked in".

So for example if I commit and give the down payment today, with final payment coming in 60 days, will I be locked in to the current incentives or will I just be subject to what the incentives are (if any) at that final payment day in 60 days. I have heard of people committing (or paying down payment) within a week of the end of the current round of incentives with the premise that their DVC salesman can rewrite the contract a week later if the next round of incentives are better.

Sorry, I am just having trouble understanding this whole process. Thanks everyone

You lock in whatever incentives are available when you agree to buy.

What they have been doing lately is allowing an owner to rewrite a contract that has not yet closed if better incentives come out.

 

[airjay75]

In April, I gave the go ahead on my contract a few days before the new incentives came out (and I actually waited until after the new incentives came out to e-sign my docs which is when your deposit will actually be charged to your credit card). My guide was adamant that we could rewrite if incentives were better (they weren’t).

My strategy with respect to this next round of incentives is to get my formal tour and offer in a few days before the current incentives expire. When you do that, they give you an offer that is good for 7 days. Then, I’ll see what the new incentives are. I’m honestly not sure whether I’m going to buy anymore this time, but that should give me flexibility without having to go through the yes/cancel process. I believe you can do the formal tour/offer in person or virtually. (In April, I knew nothing about all of this and just happened to to do a tour about 9 days before the incentives were set to expire so the formal offer I was given was only good until day 7 - that said, I’m sure if I called the next day or two, they would have given me the same deal.).

Also note, you have 10 days after you e-sign your docs to call the whole thing off without any penalty.

 

[Sandisw]

In April, I gave the go ahead on my contract a few days before the new incentives came out (and I actually waited until after the new incentives came out to e-sign my docs which is when your deposit will actually be charged to your credit card). My guide was adamant that we could rewrite if incentives were better (they weren’t).

My strategy with respect to this next round of incentives is to get my formal tour and offer in a few days before the current incentives expire. When you do that, they give you an offer that is good for 7 days. Then, I’ll see what the new incentives are. I’m honestly not sure whether I’m going to buy anymore this time, but that should give me flexibility without having to go through the yes/cancel process. I believe you can do the formal tour/offer in person or virtually. (In April, I knew nothing about all of this and just happened to to do a tour about 9 days before the incentives were set to expire so the formal offer I was given was only good until day 7 - that said, I’m sure if I called the next day or two, they would have given me the same deal.).

Also note, you have 10 days after you e-sign your docs to call the whole thing off without any penalty.

Yes, the 10 days from signing the contract is required but FL law.

However, if you delay closing by spreading out payments. it doesn’t extend that.