Financing ins & outs?


Earning My Ears
Sep 24, 2000
I am currently thinking about joining the DVC. My husband doesn't think it's worth the money. I do! since 1998 I have spent about 18,000 in trips to DW. Plus in august my youngest will be three and then we will be a family of six. Short of booking two rooms or cabins a suite would be our only option and I know that will be expensive. What do you think? I'm also interested in the financing end as this is the way I would have to go. Is there certain criteria? How much do I need down? What kind of interest rates? I'm planning a trip to Hilton Head the end of August and I guess I will make my decision then. Sorry this is so long, but before I sit down with a sales rep I want to go in well informed!!
gymnuts....I'm afraid I'm not well-versed on the financing through Disney side of things.

But I have to ask...did you spend $18,000 on lodging alone since 1998? Lodging costs is really the only fair way to compare DVC since that is what the investment provides.

If you have spent $18,000 on lodging alone in 3 years or so, then DVC should be a real easy sell for your DH. For that amount, you could get 240 points at $75 a point. Or you could buy resale for even less and get more points.

True, you still have the annual dues, which would be $900 or so for that number of points.
First let me say you are going to have a wonderful time at Hilton Head! My husband and I just purchased DVC there in December and I couldn't be happier with our purchase. My husband is not a Disney fan and would only agree to purchasing off site and after about 24 hours at Hilton Head he was sold on the property!

Regarding the financing, it was really easy. DH and I applied together and since I wanted things to go as smoothly as possible, I convinced my husband that if we went down as guest to Hilton Head and were already "preapproved" for our purchase then it would be totally hassle free if we decided to buy in. If we decided it wasn't for us, we still did not lose anything. Our guide faxed us the one page application and I faxed it back the next day. Within 72 hours we had our answer.

If you agree to direct debit they knock off, I think, 1 percentage point off the financing rate (which I believe is 10.95% for 10 years, the option we chose). You can finance for any period from 1 year to 10 years. We chose the 10 year option because there is no prepayment penalty and this gives us the lowest monthly payment with the ability to make lump sum payments when we have the extra cash. You asked about the downpayment. We purchased at Hilton Head with the $13 per point back back so that gave us just about the entire 20% down Disney required (I think there is a 10% down option but the interest rate is higher). We were told that even with Disney providing most of the downpayment, they still require $500 from the buyer so that is what we put down.

If you have any more questions about the financing process or the Hilton Head resort, please don't hesitate to ask!

We have annual passes. And the lodging has run us about 475.00 a night. We only like the deluxe hotels at DW. And the suites run upwards of 600.00 a night. They don't give any AP rates to suites, so I thought the DVC would be the best way to go.

Lisa.. Thanks for the info it is soo confusing. I hopping to put at least 2500.00 down and financed the rest. For our group size we will need a two bedroom. I will probably need about 300-350 points. I plan to buy for October, early Nov. I don't like crowds. Now my next question... How does dues figure into this? Do they bill it seperately? Or do they work it into the payments? Thanks for the help!!!
Your dues will run you approx $3.50 a point. You'll owe a prorated share for 2002 depending on when you sign the contract. Next year you can either have it debited from your account at the first of the year for the full amount or they'll do a monthly debit.
I wasn't sure from your post if you were planning on purchasing into Hilton Head or BCV. It is often stated on this board to buy where you plan to stay most often. You stated that you have spend a large amount of money at WDW, but also stated you will be going to HH. If you plan on staying at both resorts evenly it might be a good idea to buy 2 contracts one at each. I just purchased at BCV so I can tell you that the dues there are $3.77 a point. We choose to have it taken out direct debit each month. BCV currently has a special of $5 off ppt. So we basically paid $70 ppt, 10.95% financing 20% down for 10 years.
I happened to want a different vacation so I thought I would check out Hilton Head. I will probably will pick a Disney "home", but I would like to sit face to face with someone when I do it, and I don't have a trip planned to Disney till next year I figured I'd do it at Hilton Head. But that is a good idea to buy in both places. What vacation club places are still available at Disney World? I have two time frames I'm thinking about. Either late Oct.-early Nov. or January. What do all of you think? Once you purchase do your points become available that year? If I buy in August for October will I have points this October? Sorry for all the questions, but I am kind of confused on how this whole thing works!
Please keep asking, that is the only way you are going to learn and the people on these boards are wonderful and love to help any way they can. I am fairly new even though I have been thinking about this for 2 years, I just bought on Tuesday (600 pts).

The only on site resort that is currently being sold through Disney, is the Beach Club Villas. As I said I bought on Tuesday and I am getting 600 points on Feb 2002 and another 600 Feb 2003. I am kind of unclear as to how they figure out what use year you would get as a new member. Usually it is whatever they are currently selling (Feb right now), but it doesn't always coincide with the month you are acutally purchasing. Like say you buy in April 2002, they may still be selling Feb 2002 so you would get Feb points. It seems like they allocate a certain amount and sell them, once their sold, they move on to the next month. Maybe one of the vets can explain that further.

As I said they are only selling BCV on property right now through Disney. You do also have the option of buying re-sale of one of the resorts that is already sold out (BWV, VWL, and OKW). These are not sold through Disney and you would not be able to use Disney financing.
If you own a home, you're MUCH BETTER off using a home equity loan to finance a DVC purchase. Such loans in our area are generally at the Prime Rate which is much less than Disney will offer you; interest on such loans IS also deductible.

Good Luck,
but I would like to sit face to face with someone when I do it, and I don't have a trip planned to Disney till next year I figured I'd do it at Hilton Head.

It sounds as if they may be closing down the sales office at HHI in the near future....not sure if they'll still be there in August. If you haven't done so already, feel free to request information from DVC. They are absolutely no pressure and everything is laid out to help you understand the concept. You can even request information through the web site

Of course, keep asking questions here as well.
We just got back from HH and while there we stopped by the sales office. They informed us they're closing the office in March.

All future sales for HH will take place at the main sales office at Boardwalk, at WDW. There will no longer be a sales staff at HH.

P.S. They said the same will be true for Vero.

From reading your posts you kept mentioning buying for certain periods of the year. For DVC you purchase points and can use them ANY time of the year. Some periods are most points per night and others are less. So if you are planning on going the same time of year, take alook at the point charts for that time of year and determine how many points you would need for the length you would normally stay, and then add a little bit to be safe.

The total points for a year for a resort is fixed and will NOT go up. They can adjust the # of points in one time frame, but then would have to lower in another.

Just want to make sure you were on the right "page" about points vs. a specific week. This is one of the main advantages for DVC, is the FLEXIBILITY.

hi: you may want to double check the faqs on this board as well. keep posting your questions. get the video and info from disney. you can check out pics of the various dvc resorts on the official site, or or decide where you'd like "home" to be and buy there. the 11 month window at your home resort is important. if you do have to buy resale, you will have to secure your own financing. some of the time frames considered to be "off season" by the regular resort hotels are actually kind of more popular with dvc people due to reduced points per night. dvc seasons and the regular disney world seasons do vary.

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