Financing Options for DVC Membership?

[RatherBeGolfing]

Hello,
I'm thinking of taking the plunge and becoming a DVC member. We rented points earlier this year and stayed in BCV for 5 wonderful days. Now, of course, we're hooked and plan on going back at least once per year.

I wanted to know what kind of financing options are available to cover the $12,600 (150 points @ $84 each) buy in. I tried doing a search on this board, but the function is disabled.

I've requested the informational video from Disney and have read many posts, but haven't seen anything yet on how one pays for the points. Unfortunately, I don't have that kind of dough under my mattress.

Any help is appreciated!
Larry

 

[JOC]

Disney will finance for 1 year at 4.95% and 50% down, or 3,5,7 or 10 years at 9.75% and 20% down. Some people who post on this forum and who are also homeowners recommend a home equity loan for lower financing rates.

 

[sheryl0521]

Then of course there is always the Disney Visa! And you could get the 1% back in WDW dollars and spend them during your first vacation!

Some people have taken advantage of other credit card offers of 0% interest for a fixed time period and just paid it off before it ends.

 

[RatherBeGolfing]

I hadn't thought of using the Disney VISA card - I do have one and used it during the first trip. Hmmm, I think my limit is even somewhere around the $12,600 number.....

 

[disneymom99]

We bought the minimal 150 points when we bought a little over a year ago. We used magical beginnings with some of our own money for the downpayment. We financed with DVD for 5 years.

 

[todsue99]

Ok -- This is what we did with our add-on: Put the whole amount on the Disney Visa and then refinanced our house at a lower interest rate and took money out to pay off the Visa. It worked for us. Our monthly payments went down a couple of dollars. Either way if you have to Finance go with a home equity, the interest rates are lower and you might be able deduct the interest on your income tax. Just my opinion.