Financing DVC

[Ergens2]

We are looking to buy into DVC but may buy in sooner if the incentives are worth it. My question is if you finance do you get your points immediatly or when you have paid off your "loan"?

 

[Tramp68]

You would get your points when you close. I believe the timeframe for closings on new purchases is for the September UY at this time, so It should be around September. (you can't close until the building you are purchasing for is built)

If you are planning on buying 270 or more points you might want to consider buying 150 points and then a 120 point add on (or more) to get the 100 bonus points for 2005 (if they are still available by then)

 

[tjkraz]

As Tramp68 indicated, no, you do not have to wait until the loan is paid off to use your points. However, note that even with a September closing, you can make a reservation immediately after you commit to buy (i.e. NOW!) So, if you called DVC and agreed to buy points at SSR, before you hang up the phone you could book your first stay.

The only caveat is that the stay cannot occur until after your closing. If the closing doesn't happen for some reason, DVC simply cancels your pending reservation and they've lost nothing. Once the closing has occurred, the points are legally yours and you can normally begin to use them immediately.

 

[sleepyone]

Does anyone know what the finance rates are like now through DVC?

 

[lllovell]

last I heard - 9.75%

 

[Tramp68]

10.75% normal
9.75% with direct debit from checking/savings