DVC Financing Questions

[tkay]

Our first trip to WDW was in 1997. Since then, we have been every year. I never looked into DVC before. About a month ago, I met a DVC member at my bank and he gave me the fever.

Since then, I have been reading the boards and have learned quite a lot. However, I have one question about financing. If you finance through Disney, what are the financing terms they offer in number of years?

Likewise, can you finance through the Timeshare Store? If so, can anyone give me some general info. about their financing terms?

I would appreciate any info. you can provide. Just got the DVC video yesterday and my fever is pretty high right now.

tkay

 

[ToyStory Fan]

If I remember correctly DVC will allow you to finance thru them for 10 years. The rates were not competitve compared to my HELOC (Home Equity Line of Credit), so we just used that instead and created a payment schedule for ourselves.

 

[JOC]

Disney offers 1,3,5,7 and 10 year financing. Here's the info I have as far as APR for direct debit (this is from June 2002):

1 yr - 9.25%
3 yr - 12%
5 yr - 12.5%
7 yr - 13%
10 yr - 13.5%

I believe The Timeshare Store uses www.tammac.com for their financing, but I don't know what their rates or terms are. We financed through our credit union.

 

[tkay]

Thanks for your prompt replies. I think I should look into a home equity loan since those rates are much lower.

Thanks again for all the expert advice.

tkay