?? for those who've puchased SSR using Disney's financing

[jacquek95]

Hi! If y'all don't mind, I'd like you pick your brains on a few ???. Did you use the opt for them to buyback 1st year's points and did it cover the downpayment? If not, what % do they ask as a downpayment? What is the max to finance over (in terms of months or years) and what is the current % rate? I know that you don't start paying until your "building" is complete, but does the interest start to accrue right away? When can you start using your points at other resorts (do you have to wait until your "building" is completed?) Sorry for all the ???, but thanks for any info you can give!

 

[tjkraz]

The current promotions are a bit different than when we purchased, but I believe the methodology is the same. The promotional pricing comes off AFTER your downpayment. You still need at least 10% of $89 per point up-front. For a minimum purchase of 150 points, that would be $1335. The $10 or $5 per point discounting would then be deducted from the balance to be financed.

Note that if credit scores are less than ideal they may insist on 20% or more as a downpayment.

You can finance for up to 10 years at 9.75% (with agreement to direct debit all monthly payments).

Again, unless something has change, interest does not accrue until your building is ready for occupancy.

You cannot use any points until your unit is ready for occupancy. Remember this is a timeshare and you are purchasing part of a building. Even though the program allows you to trade into other owners' buildings, you cannot utilize your "ownership" until the unit you own is part of the program.

 

[sregorda]

My husband and I just bought at SSR (over this past weekend) and the pricing structure, including downpayment, finance options, etc, was just as TJKRAZ said.