Finance

[Mkaiser1]

Hi all,

I've seen various references in numerous other threads about getting a purchase on 0% for 12 months by doing various things including delaying the payments to Disney for 3 months (or something along those lines), using a Disney credit card (I think but I'm not definite) and I think there may have been one or two other things.

We're really interested in DVC and know prices will only go up but we're about to renovate our house too. We know we can afford it so it's not about that, but we do want to make sure we have all the possible cash free for the house renovation.

So, I wondered if someone, or perhaps a few of you could clarify what is needed to get the 12 months spread on the cost without incurring any interest charges? I suspect it would be a useful thread for many!

 

[princesscinderella]

I think the answer depends on if you are buying directly from Disney or resale. If direct from Disney they will let you spread the payment over 3 months and if you charge it to a Disney visa you get 6 months from the time the charge is incurred. If you have good credit you could get 0% interest from your credit card or opening a new one with the convenience checks and pay that way. You cannot pay resale by a credit card. The 0% offered for a credit card would also typically incur a 3% initial origination charge.

 

[Mkaiser1]

This is exactly the stuff I think I've seen! Thank you @princesscinderella!

There's usually some UK credit cards with 0% over 12-18months and some of these offer international purchases too. I'm pretty sure AMEX is one of those. The 3 months Disney allow is useful to know too!

We love Riviera. At the minute, I'm as well buying direct as we'd buy so many points we'd get the maximum discount offer which almost brings it to the same cost as the resales, but we'd have no resale restrictions and we'd be planning to keep it for quite a few years (at least 10-15).

The doubt in our mind is value offered by resales at other resorts which is making us look at Boardwalk, OKW, AKV and SSR.

Decisions, decisions......

 

[princesscinderella]

This is exactly the stuff I think I've seen! Thank you @princesscinderella!

There's usually some UK credit cards with 0% over 12-18months and some of these offer international purchases too. I'm pretty sure AMEX is one of those. The 3 months Disney allow is useful to know too!

We love Riviera. At the minute, I'm as well buying direct as we'd buy so many points we'd get the maximum discount offer which almost brings it to the same cost as the resales, but we'd have no resale restrictions and we'd be planning to keep it for quite a few years (at least 10-15).

The doubt in our mind is value offered by resales at other resorts which is making us look at Boardwalk, OKW, AKV and SSR.

Decisions, decisions......

The only downside to riviera is no one knows right now how the resale price is going to hold up because of the restriction of only being able to stay at Riviera. You might not be able to get back what you paid out when selling 10-15 years down the road. It’s definitely a beautiful resort and as long as you know all this and are making an informed decision I say go for it.

 

[Grumpy Mouse]

The only downside to riviera is no one knows right now how the resale price is going to hold up because of the restriction of only being able to stay at Riviera. You might not be able to get back what you paid out when selling 10-15 years down the road. It’s definitely a beautiful resort and as long as you know all this and are making an informed decision I say go for it.

Just closed (well, last year) our purchase at Riviera with full knowledge of the restrictions (and at a nice discount I might add). Spread the payment over three months with 6 months to pay each chunk on our Disney Visa. So about 8 months total to pay for the purchase.

Loved the resort and thought there would be value in owning a Blue Card - a theory that is being severely tested at the moment. With most of the perks eliminated (the big one for us is no AP's - and therefore no Blue Card discount on AP's) it's really hard to justify direct purchase over resale.

 

[sethschroeder]

Disney for 3 months

This you simply bring up to your guide. I would ask that you pay just a small portion each month with a large lump sum payment in 3 months time.

using a Disney credit card

The Disney Visa has a built in automatic 6 month 0% interest for $0 fee on the purchase.

There's usually some UK credit cards with 0% over 12-18months and some of these offer international purchases too.

Is that 0% a balance transfer or just purchases you make?

 

[Jdlucas24]

One thing to note is that many banks have pulled back on their 0% for 12-18 months balance transfer options (at least in the US) during COVID. I used to get mailers all the time from Chase and Barclays for 0% balance transfers and right now I'm not even sure you can request a balance transfer even at their egregious CC rates.

 

[princesscinderella]

One thing to note is that many banks have pulled back on their 0% for 12-18 months balance transfer options (at least in the US) during COVID. I used to get mailers all the time from Chase and Barclays for 0% balance transfers and right now I'm not even sure you can request a balance transfer even at their egregious CC rates.

Definitely make sure it’s available to you. I have received 3 separate 0% offers from different credit cards I already have in the month of December alone so they are definitely still offering them.

 

[Sunnyore]

I just applied for one to pay for my small contract direct purchase and I believe I have 18 months 0% interest. So they're definitely available out there. This frees up some cash to feed my addonitis for resale contracts

 

[Mkaiser1]

This you simply bring up to your guide. I would ask that you pay just a small portion each month with a large lump sum payment in 3 months time.



The Disney Visa has a built in automatic 6 month 0% interest for $0 fee on the purchase.



Is that 0% a balance transfer or just purchases you make?

It is usually on both balance transfers and new purchases but some over one or the other or longer on one than the other. I never use my credit card but have it as a back up. I've actually just done a quick search on UK credit cards and I can take a new one out now with 26months 0% interest on new purchases and 20 months on balance transfers. I'm assuming that applies to International purchases too.

 

[Mkaiser1]

Just closed (well, last year) our purchase at Riviera with full knowledge of the restrictions (and at a nice discount I might add). Spread the payment over three months with 6 months to pay each chunk on our Disney Visa. So about 8 months total to pay for the purchase.

Loved the resort and thought there would be value in owning a Blue Card - a theory that is being severely tested at the moment. With most of the perks eliminated (the big one for us is no AP's - and therefore no Blue Card discount on AP's) it's really hard to justify direct purchase over resale.

Do you mind me asking the 'nice discount' you got? Or would you mind DM'ing me?

 

[Cyberc1978]

Do you mind me asking the 'nice discount' you got? Or would you mind DM'ing me?

You don’t get discount, however DVC do provide incentives when you buy direct. The incentives is like buy 200 points direct and you “save“ “$1,500” so you still need to spend a truckload of money to get a discount, sometimes dvc will give you free points so instead of the $1,500 you could get 5 or 10 extra points.

 

[Mkaiser1]

You don’t get discount, however DVC do provide incentives when you buy direct. The incentives is like buy 200 points direct and you “save“ “$1,500” so you still need to spend a truckload of money to get a discount, sometimes dvc will give you free points so instead of the $1,500 you could get 5 or 10 extra points.

That's what I thought. I'm assuming there's no further discount beyond that. I know the incentives offer currently and have that 'locked in' now until 15th Feb but on Saturday the new $201 per point cost at Riviera commences (up from $195) along with a new incentive. So we'll have just over a week to make our final decision on Riviera direct or buying a resale at another resort (most likely Boardwalk or OKW 2057).

 

[RoseGold]

If you are only holding for 10-15 years, I don’t see why you would buy direct at all, especially RIV.

The resale options are much less commitment, and you know that you will be able to get out without taking the big hit that, say, CCV sellers are taking right now.

financing can flip all of the math, even on resorts that would have done well, like VGF.

If this stretches your finances, I would really think long and hard about it. There are plenty of Orlando hotel rooms. DVC is not going anywhere. You don’t want to be in a situation where your silly timeshare makes your illness or job loss a real emergency.

 

[Mkaiser1]

If you are only holding for 10-15 years, I don’t see why you would buy direct at all, especially RIV.

The resale options are much less commitment, and you know that you will be able to get out without taking the big hit that, say, CCV sellers are taking right now.

financing can flip all of the math, even on resorts that would have done well, like VGF.

If this stretches your finances, I would really think long and hard about it. There are plenty of Orlando hotel rooms. DVC is not going anywhere. You don’t want to be in a situation where your silly timeshare makes your illness or job loss a real emergency.

Totally agree. We're not rushing into anything. The financing is just because it makes sense to use - Over the period it remains my cash I can invest it more.

 

[sethschroeder]

If you are only holding for 10-15 years, I don’t see why you would buy direct at all, especially RIV.

I agree with this when looking at a generalized view of DVC. I personally think you need to be in it for 20+ years.

(most likely Boardwalk or OKW 2057).

With Boardwalk this is where holding 15 years actually possibly pushes you back to RIV Direct not being that much worse if you like the resort. The reason being is that in 15 years Boardwalk is only going to have 5 years left so there will be a depressed value to the resort.

Now if you are good with purchasing OKW 2057 that is the best option for selling in 15 years time.

It comes down to what you are comfortable with though and how you value things. It can be more costly to own BWV or RIV compared to OKW but you are also more easily staying at BWV or RIV compared to OKW. I own both BWV and RIV and never thought I would buy RIV. I did purchase at $155/point and after being there 2 weeks ago both my wife and myself stated its our new favorite resort.

One other thing do not forget to account for point charts. Riviera is going to be on the high end of point charts while BWV and OKW will be on the low side which can skew the math.