Financing

[vargas17]

How does financing work with resell? Is it the same as with buying new? I am considering buying resell but have no clue how it works as opposed to new. TIA!!!

 

[arthur06]

How does financing work with resell? Is it the same as with buying new? I am considering buying resell but have no clue how it works as opposed to new. TIA!!!

There are some places that work with resale financing. not sure who though, and others on this board will know better. However, you can not finance thru Disney.

I bought a resale contract and just paid cash for it. I know that is not possible for everyone. I saved until I had enough to do so. Adding on thru Disney, I financed and will pay it off in about 18 months.

there are many threads about who will finance DVC resales, there might even be a sticky at the top of this thread.

 

[Sandisw]

Many of the resale brokers have finance companies that they work with and I have heard that the length of the term is dependent on how big your purchase is.

Through Disney, the loan is considered a mortgage and typically the interest can be claimed on your taxes (but you have to check for your own situation) and it is not reported on your credit report (so it doesn't show up--for some, this is a good thing).


I think that the interest rates are similar. Disney is currently 10.75% (preferred with direct debit) for up to a 10 year loan and the company the Timeshare store uses is advertising at 10.99%.

Good luck!!

 

[Jason@dvcstore]

How does financing work with resell? Is it the same as with buying new? I am considering buying resell but have no clue how it works as opposed to new. TIA!!!

We recommend a company called Tammac Financial. Their website is www.tammacfinancial.com and they have an application online. Once they receive your application they typically give you an answer within 72 hours.

I hope that information helps and best of luck to you in your decision.

Jason