DVC Rates and Terms

[Daffy41]

Just wondering if anyone knows what the current interest rates and terms are for a direct purchase add on at the older resorts like OKW or SS. Purchased 150 points resale a couple of years ago ( after the April cutoff date) and was just getting ready to purchase 25 add on at SS ( home resort ) when the new 75 minimum rule came out. I tried emailing my sales agent who was looking looking for the add on - but haven't heard back. Deciding if I should just purchase the 75 points direct or look on resale for a small point contract. My goal was to add 75 points - 100 with in the next 1 - 2 years.
Thanks !

 

[southerngirl528]

Your interest rate will depend on your credit score. Members do get a lower interest rate as a rule IF they are in good standing with their maintenance fees, loan payments, etc. If a member has had late payments or is not in good standing they do NOT get the lower rates.

Interest rates with TS companies are always pretty high. But there's no early payoff penalty so if you're going to pay it off fast, the high interest is not as awful.

 

[Matty B13]

The interest rate for financing through DVC is variable depending on your credit score and length of loan. If you know what your credit score is, I think DVC's website will show you what your rate is if you go through a hypothetical sale in the Purchase DVC tab.

Also, their rates are high compared to the other banks that finance timeshares. So chances are they are a better resource.

The Disney Visa card will let you finance a purchase at 0% for 6 months, with regular rate after (We just finished paying this off, for a 50 point direct purchase).

 

[tjkraz]

AFAIK, current member interest rate is 11% with 10% down payment and 8.99% with 20% down. Up to 10-year loan with no early payment penalty.

 

[southerngirl528]

AFAIK, current member interest rate is 11% with 10% down payment and 8.99% with 20% down. Up to 10-year loan with no early payment penalty.

Pretty sure tjkraz is correct here.

 

[hamilkm]

I financed a 90 point contract last summer at 8.9%. This was the absolute lowest rate they offer with 20% down paid and a current member in good standing with great credit. It is high but my plan is to have it paid off in 3 years, so not too bad. I also used my Disney visa for the 20% down payment for the 0% interest for 6 months.

 

[4luv2cdisney]

I would at least try to add the 25 now if you can get it. You can always decide what to do about the rest later.

I used my Dis Visa for the 0 for 60 and my Capital One card is offering me 0 for 18 with a flat 2% fee. So, If I were to not have it paid off in 6 months, the balance would go there. Never hurts to see what your current cards are offering.

You could add on 25 at a time regardless if it helps you avoid financing since you are already a member.

 

[KAT4DISNEY]

Just wondering if anyone knows what the current interest rates and terms are for a direct purchase add on at the older resorts like OKW or SS. Purchased 150 points resale a couple of years ago ( after the April cutoff date) and was just getting ready to purchase 25 add on at SS ( home resort ) when the new 75 minimum rule came out. I tried emailing my sales agent who was looking looking for the add on - but haven't heard back. Deciding if I should just purchase the 75 points direct or look on resale for a small point contract. My goal was to add 75 points - 100 with in the next 1 - 2 years.
Thanks !

The minimum to finance direct is 50 points. And it's still 25 points to qualify for another couple of weeks. Since that is what you already planned I'd go ahead and call to buy or get on a waitlist. The 75 points is for anyone who doesn't own qualified points by Feb 25th. Even then you don't have to get all 75 points at once. You could save up and buy in 25 point increments.