Estimating a down payment?

[UGAFan0829]

I have a friend who is "considering" DVC. She kind of wants to get some figures before she talks to a guide, and really wants to know what the down payment would be. Is there any easy way to get a ballpark figure on what it may be? I'm at work and don't have any of my paperwork to help her. She's wanting to go directly through DVC rather than a re-sale company.

 

[RobDoc]

The down payment is usually 10% with a minimum of at least $500, but DVC may ask for more if there are any credit issues for those wanting Disney financing.

 

[aj2gether]

I just bought into DVC. From my review of all the possible locations to buy at, they all showed a minimum down payment of $1790 for 160 points.

 

[dcfromva]

I have a friend who is "considering" DVC. She kind of wants to get some figures before she talks to a guide, and really wants to know what the down payment would be. Is there any easy way to get a ballpark figure on what it may be? I'm at work and don't have any of my paperwork to help her. She's wanting to go directly through DVC rather than a re-sale company.

It depends on the property and how many points she wishes to buy and as WebmasterDoc said--her credit rating.

I have read that it may be possible to get a starting contract of 100 points (it used to be a 160 point minimum).
BLT =$120 per point (before incentives). 100pts X120 = 12000 X .10 = $1200
(20% would be 2400). It would be more for more points.
160ptsX120 =19200 X .10 = $1920.

AKV =$112 per point (before incentives) 100pts X112= 11,200 X.10 =$1120
(20% would be 2240)

And so on...

 

[Crystal_27]

Also, do keep in mind that sometimes incentives have different down payments tied to them. I believe when DVC was offering the cruise incentive you either had to put down what would have been the cash cost of the cruise, or you would have to wait until you had repaid enough in payments to get to the cash cost of the cruise. Your friend's best bet is to call a Guide, get her credit assessed, and find out a real number.

 

[mousefan1972]

We bought 450 points for Bay Lake Tower last month and our down payment was $500.