Financing through Disney

[dr&momto2boys]

What are the rates offered for financing a DVC purchase through Disney?

Anyone have any advice or comments about financing through Disney vs. other options?

We have really good credit and income, but do want to finance this purchase at least for now. Just trying to figure out what the best option is ahead of time.

Thanks!

 

[CDNmouse]

Any of the rates I have seen posted here are crazy. They are in the double igits. Go to your bank and see if they can do better, I bet they can.

Gary

 

[twinklebug]

I've been reading 10.n% & 15.25%? They are high, BUT Disney does not report the loan to the credit bureaus.

There's also no prepayment penalty, making them a great choice if you're just looking for a short term loan and wanting to pay it off via a CC (earning points or miles of course ) over a few months.

 

[dr&momto2boys]

Wow! You can pay with a credit card? Large purchases on our American Express would be an interest rate of 5%. And we get cash back. That sounds like a good way to go if we can.

 

[Sandisw]

The preferred rate is 10.75%. It is considered as mortgage interest so you will get some back for the tax deductability.

I just did this yesterday--while the rate is not great, I plan to pay it off within the next few months with a lower interest loan. But the ease was worth the extra cost for that time period. Now, I can shop around for a better rate.

I added on BLT (100 pts) yesterday, just so I could book at BLT today instead of having to try in a few weeks. The points were available in about 2 hours and I only had to put down a small deposit on my credit card.