DVC question

[braydensmom]

Just recieved my points booklet and DVC financing papers an have a question for those that are DVC.
On the DVC financing paper, there is a column for 10% downpayment, beside that it says $8.00 per vacation point credit and adds that into the total down payment amount.
What is the $8.00 per vacation point credit???

 

[ABCanada]

It is the incentive offered for new sales of BLT and VGC. Sounds like they allow it to be considered part of the DP. See http://disboards.com/showthread.php?t=2054975&page=14 thread which gives more information on the incentives offered.

Appears from this thread you might have been able to get an additional incentive with a referral. It is likely too late for that but probably worth asking. I am certain one of the Ontario DVCers in the sticky above would 'refer' you.

 

[braydensmom]

its not the incentive, it is an additional fee... Im a little confused by it
the cost for it for 160 points is 1280, plus 1792 for 10% downpayment = 3072

 

[dvcdisney]

its not the incentive, it is an additional fee... Im a little confused by it
the cost for it for 160 points is 1280, plus 1792 for 10% downpayment = 3072

NO it's not an additional fee. It appears that they are adding the incentive point credit of $8/pt which is 160x8 = $1280 to your downpayment. It appears that what you are going to finance is the total cost minus $3072.

I am not familiar with the financing, but when we purchase and we had the incentive, the incentive amount was deducted from the total. So I'm assuming that since you are financing, they just put the incentive with your downpayment and subracted that from the total. Your finance amount should be the total amount minus $3072. I believe they have to show it this way so that it appears as if you paid the incentive amount of $1280 in addition to your downpayment. In the end it should come down to the same amount that you agreed to finance.

I don't have a finance form so I can't be sure of the wording, but the incentive credit is not an additional fee, it just appears that they added it to your downpayment as if you paid it. I assume this is how it has to show on their documents.

Hopefully I didn't confuse you.

By the way, if you want a better explanation, you may want to post this question at the DVC board - under DVC - Operations. Good Luck.