Financing Questions


<font color=green>DIS Veteran</font><br><font colo
Apr 28, 2001
I talked to my Guide yesterday. We are considering a purchase at BCV. When we got around to talking about financing here is the info. she gave me.

To start the purchase we must put 10% down or if using the $5 off incentive $500 down. The balance to be paid in 2-3 weeks. I asked how long the incentive was good for, was told until prices rise June 1. Is this correct?

We were thinking of a cash purchase. I asked what we would gain by buying right now instead of the end of May (if incentives are good until June 1). After all DVC would have a large piece of our money now and we can't stay at a DVC resort until August. Was told we could book rooms starting March 6. As that didn't excite me, she suggested we could put the purchase in as a DVC finance and only pay 20% in 2-3 weeks. Then at closing change to cash. She said there would be no charge to do this. Does this sound right? Has anyone done this?
Yes, that is what we are doing. Put $500 down when we initiated the contract with the balance of 20% due when we return the signed papers. Disney will set it up as if we are financing with them for 10 years but as long as we pay it in full by June 1, 2002 we will not owe any interest.


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