Last year we purchased 300 OKW points through resale. We took out a home equity loan for $19,000 @ 6.9% for 10 years. Our payment was $220.18 per month.
As a lot of you already know we were able to pay off the loan in 1 year because of a stock sale.
We thought about HHI resale for 100 points and then SSR came available with the $10 off per point incentive. We figured the difference was $5.00 per point, but an extra 12 years at SSR.
We wanted to get some Disney Visa points, but could not pay off our home equity loan with a credit card. So, I started crunching numbers and here is the fancy footwork I did to get 100 SSR points, $79 Disney reward dollars and over $5,000.00 saved in finance charges.
We used our stock check and some personal savings to pay off our home equity loan on the original 300 OKW points. We saved about $6,200 in finance charges. We then purchased the 100 SSR points using the Disney Visa to get our $79.00 reward dollars. We took out a new home equity loan from our original credit Union because the rate dropped to 3.9%. We took out enough to cover our SSR points and the money we used out of personal savings to pay off the original loan. Our payment is $248 per month for only 4 years and finance charges are around $900 TOTAL.
So, we saved over $5,000 on finance charges!
It is like getting the SSR points for $24 per point! 
Can't beat that! We hope to have the new add-on points paid off in a year or two.
I have not even figured out how much money I saved by not going with the 9.75% or 10.75% financing that Disney offers.
My points would probably be free!
Anyone else doing some fancy financing to purchase their DVC points?
As a lot of you already know we were able to pay off the loan in 1 year because of a stock sale.
We thought about HHI resale for 100 points and then SSR came available with the $10 off per point incentive. We figured the difference was $5.00 per point, but an extra 12 years at SSR.
We wanted to get some Disney Visa points, but could not pay off our home equity loan with a credit card. So, I started crunching numbers and here is the fancy footwork I did to get 100 SSR points, $79 Disney reward dollars and over $5,000.00 saved in finance charges.
We used our stock check and some personal savings to pay off our home equity loan on the original 300 OKW points. We saved about $6,200 in finance charges. We then purchased the 100 SSR points using the Disney Visa to get our $79.00 reward dollars. We took out a new home equity loan from our original credit Union because the rate dropped to 3.9%. We took out enough to cover our SSR points and the money we used out of personal savings to pay off the original loan. Our payment is $248 per month for only 4 years and finance charges are around $900 TOTAL.
So, we saved over $5,000 on finance charges!
It is like getting the SSR points for $24 per point! Can't beat that! We hope to have the new add-on points paid off in a year or two. I have not even figured out how much money I saved by not going with the 9.75% or 10.75% financing that Disney offers.
My points would probably be free!
Anyone else doing some fancy financing to purchase their DVC points?
