financing question..

[crushman]

i own 160 points in the AKV, however id like to up that to about 320 points over the next couple of years, to buy the 160 points my wife and i paid a deposit and got financing through disney, which was really easy because we aer from england, now if in 6 months i want another 50 points and more 6 months after that , do i have to get a seperate finance deal again with another deposit or can it be added on to our existing finance arrangement?

i know this is probably a stupid question but i have searched every where for the answer and cant find it dudes!!!!

 

[Caskbill]

First, relax. The only real stupid question is the one not asked, as we were always told in school.


If you want to do an add-on again in 6-months, you only need to call your guide and make a down payment (credit card works fine). You're already pre-approved for the credit for the purchase. It would just be added to your account. You'd have new papers to sign, but that's about it.

There's no real risk to Disney because if you fail to make your payments, or your dues, then your points are locked and you can't use them.

Bottom line: A new deposit is required, but the remainder of the purchase would be automatically approved and added to your current payment schedule.

 

[crushman]

excellent, thanks for your help dude, that was all i needed to know

 

[DVC Dude]

Out of cursioty, what is the current interest rate for a DVC loan?

 

[hellerjw]

It depends on the length of the loan and your credit score. Assuming you would be financing for more than 1 year, have good credit (Preferred Financing), and agree to automatic payment drafts, it would be 10.75%. Financing with less than good credit is 14.25%. You can also finance for 1 year with a 50% down payment and get 4.95%.