dvc financing

[JCerniglow]

I have a question about dvc financing. I want to put down about $10,000 and finance the remaining $4,700. Is that a possibility? please help..

 

[Jen D]

Sure! You can put down whatever amount over the minimum down payment that you choose.

In fact, since you're putting down over 50%, you could choose he 1 year option, to pay the remaining amount over a year at a MUCH lower percentage rate (I think 5-6%.)

Or you can take take the longer term loan at a higher percentage rate and just pay off as soon as you can.

 

[Doug Wolfe]

Yes, you can do the financing just like you described.

I just have them deduct the amount I owe right out of my bank checking account. I never have to think about it. They even take out the annual fee's & taxes. This way in January, when everyone has Christmas bills and are trying to pay their DVC bill, I get a DVC bill for $0.

 

[bongo59]

dvc financing



That is an oxymoron to me...............never finance a luxury. that is bad money management..................

 

[linzbear]

dvc financing



That is an oxymoron to me...............never finance a luxury. that is bad money management..................

That's not true. It can even monitarily make sense. For example.

Say this person wants to do a big family reunion in say September. Assume use of 450 points.

Option 1. Rent 450 points so that they don't use the evil financing! That adds up to be about...$14,700 + $4,500.

Option 2. Put 10,000 down on a 150 point purchase with an Aug use year. Bank and Borrow to get 450 points. Finance $4,700. With 5% financing, they will spend $4,935. Plus dues (~$600)

Which is cheaper?

 

[Jon99]

dvc financing



That is an oxymoron to me...............never finance a luxury. that is bad money management..................

You have never financed a car?