Financing through Disney

[meachell13]

Who has done this? I'm curious about the terms of the financing that they allow? It would be so much more easier to buy direct but with it being a little higher in price, I would have to do some financing. Thanks for the input!!

 

[ChiSoxKeith]

I financed through disney. 10 year loan. You can pay it off early if you want.

 

[meachell13]

Is the interest rate super high? I'm sure it is different based on credit.

 

[ChiSoxKeith]

I would have to double check but it was 10% I think.

 

[meachell13]

That isn't awful.... better than some credit cards

 

[erionm]

When we purchased in 2007, I think that preferred financing was 10.75% and regular financing was 14.75%. The interest rate and down payment will depend on your credit.

 

[Swayhoover90]

In July the preferred rate was 10.99% if you allowed them to do automatic monthly checking withdrawals. 11.99% if you did not qualify for the preferred rate. This was for a 10-year term.

 

[cemeb4dk]

we bought in 02 and financed. If I remember it was at 10% also, and we needed to put 10% downpayment. It was the easiest of transactions. We did the monthly auto withdrawls, they came out the 15th and then the maintenance came out on the 1st.

 

[LUVMICKEY]

we bought in 02 and financed. If I remember it was at 10% also, and we needed to put 10% downpayment. It was the easiest of transactions. We did the monthly auto withdrawls, they came out the 15th and then the maintenance came out on the 1st.

This is exactly the way we did it also. It is one of the easiest things we have ever done. Plus we booked our next vacation on points within 2 weeks of the down payment.

 

[PoohsFan1]

When we purchased in 2007, I think that preferred financing was 10.75% and regular financing was 14.75%. The interest rate and down payment will depend on your credit.

We just financed thru Disney last week and our interest is the 10.75%, or as our guide called it the "Premium Rate". We put 10% down and have a 5 year loan because my DH wants to pay it off sooner.

 

[meachell13]

Thank you for your info guys! I cannot wait to join!!

 

[Bigeasy]

We just financed thru Disney last week and our interest is the 10.75%, or as our guide called it the "Premium Rate". We put 10% down and have a 5 year loan because my DH wants to pay it off sooner.

Exactly the same for us. The process was very simple from start to finish.

Good luck.

 

[DVC Dude]

In July the preferred rate was 10.99% if you allowed them to do automatic monthly checking withdrawals. 11.99% if you did not qualify for the preferred rate. This was for a 10-year term.

Ouch...those are some hefty rates.

That isn't awful.... better than some credit cards

You must be kidding?

Yes, this is pretty awful. Why finance a timeshare with double digit interest rates when banks only pay < 1% and CDs pay <2% and there are better options for you than signing up for more debt at high rates