Financing?

[DisneyHoneyMoon]

Hey guys, I'm new to the DVC scene and I've got a couple of questions.
My wife and I were recently suckered into attending a non-Disney timeshare presentation. Luckily we didn't buy (but we were VERY tempted). Afterwards we decided we definitely wanted a timeshare and began looking into DVC as I am a huge disney fan and she is a budding disney fan. Here's where we need advice...
I'll be in graduate school for the next 4 years and we're planning on having children in that time. Disney is definitely something that we want to keep doing, but we're not sure if we should buy now and finance or if we should wait until we're a little more financially stable. I'm worried that we're never going to feel like we have the kind of money that it costs to join DVC.

If you financed your DVC membership, how much do you have to pay per month? Obviously that depends on amt of points, but what about for an average amount of points? What kind of interest rate does disney give?

Is it better to buy from Disney or used? Do you get any extra perks if you buy from Disney?

Thanks!
Confused DisneyNewlyWeds!!!

 

[mydogdrew]

You will hear differently from others but I personally would never finace a prepaid vacation. To be fair, leveraging has worked so far for DVC owners who financed as their timeshares have appreciated in value even while the remaining term has decreased. However, to assume that this trend will continue would be purely speculative. The only given is that these timeshares will be worth $0 in 2042/2054 and they have to begin to depreciate in value at some point (perhaps not for another 5-10 years???). If you don't have the $ to pay cash then you are correct to think this through carefully. I would recommend renting points until you can pay cash or perhaps buying a small 50 point contract for cash resale and renting points to suplement.

 

[tamu91]

Off the top of my head, if you're going to be in a graduate school for the next 4 yrs. (PT student, I presume ) and starting a family soon, financing a DVC purchase something you want to get yourselves into?
If you really thought about what all this is going to cost (a down payment, monthly payments, maintenace dues, travel expenses, etc.), then I'd look into buying a small resale contract (25~50 pts) first and add-on slowly.
DVC is great and I recommend it to anyone who'd listen but it's not for everyone IMO.
Don't mean to sound like an elitist, we're not rich folks by any means , but it's a big financial committment.
Good luck

 

[DisneyHoneyMoon]

Thanks for the reality check. Sometimes when I'm getting ready to eat dinner my wife tells me that my eyes are bigger than my stomach (I pile on the food and only make a dent in it). I'm guessing this is one of those times where my eyes are a little bigger than my wallet.

Hopefully we'll be able to join you folks in the following years.