DVC Financing Questions

[DisneyHoneyMoon]

Hey DVCers,

I must have caught my wife on a good day... she's finally said that we can buy into DVC. AHHHHH!!!!!!! I'm super excited. We want to work out the payment numbers and stuff first though.

When you buy resale through the Timeshare store, do they have financing options?

How much of a down payment is required?

What is the typical length of note offered?

What type of interest rate is normal?

Thanks!!!
DisneyHoneyMoon

 

[Daddio]

I can't speak for resales, but I can share some information about our recent purchase directly from DVC.

150 points @ SSR x $98.00 per point = $14,700.00
Less 15% promotional credit from Disney as downpayment = $ 2,205.00
Less 10% REAL CASH mimimum downpayment = $ 1,470.00

Balance to Finance through Disney @ 10.75% = $11,025.00
Monthly payments over 10 years (approx) = $ 150.31

The Disney promotional credit above is the "Freinds and Family" discount currently running. This may end at any time. Also, we received 150 points for 2005 and will get another 150 points in 2006.

Hope this helps.

 

[rigsby25]

I just used my home equity line on the resale. That way I am deducting the interest.

 

[Doug Wolfe]

I also financed directly through DVC when I purchased my interest in Beach Club Villas in 2002.

I simply have DVC take monthly payments directly out of my checking account on a monthly basis. The nice thing about this is, when everyone else is writing checks for taxes/fees etc. each January, I send in $0 because they have been taking the money out all year.

Yes, there are cheaper alternatives, but I needed something that was mindless and did not require me to think about it.