DVC financing make sense?

[disguy1]

If I buy from DVC, whats the finance terms?
I was going to put like 1/2 of the purchase price in cash, then finance the rest

 

[jpolak]

I do not know there current rates, but when we looked into possibly financing through Disney they were over 10%. If you can you would be better off with a home equity line if you had to finance. Good luck.

 

[disguy1]

thanks Long island neighbor....i may pay cash or charge on disney CC, may get a few bonus points

 

[WendyinNC]

I have some information that shows a rate of 10.75% if you only put 10% down and want to finance for 5-10 years. However, if you put 50% down and only want to finance for 1 year the rate is 4.95%.

 

[southgal]

Be aware, tho, the 1 yr financing at 4.95 is contingent on direct debit of monthly payments. If you want to pay by statement/coupon/online, the rate is 5.95.

 

[Darkside]

If you can put 1/2 down you can get some other financing. Disney will approve you, but you will pay a lot of interest. I was looking at financing about $12,500 through Disney and after I ran the numbers I realized I would pay just over $26,000 over 10 years. I went ahead and paid cash. Besides buying a DVC, this was one of my better financing moves, since August 2006 we have stayed at WDW DVC's twice and going back again in May of '07.