Has anyone heard about Disney's direct interest

[intertile]

So if you are already a DVC member your rates are 11% and 8% no matter what?

as long as you pay your existing dues and existing loans on time for 6 consecitive months...they will not do a credit check.

 

[ELMC]

Not sarcasm at all. I think buying a timeshare with financing is a horrible idea. So I'm genuinely glad Disney is apparently trying to drive people away from doing so.

You are assuming benevolence on the part of DVD, and I'm not so sure that's possible. My interpretation of the new rates is that they are based on historical default rates (which have been pretty high on the three most recent resorts). They're simply trying to build the risk into their pricing structure. As far as acting as a deterrent, I think that a large percentage of the people who buy direct and finance would do so regardless of the rate.

 

[bakerworld]

You are assuming benevolence on the part of DVD, and I'm not so sure that's possible. My interpretation of the new rates is that they are based on historical default rates (which have been pretty high on the three most recent resorts). They're simply trying to build the risk into their pricing structure. As far as acting as a deterrent, I think that a large percentage of the people who buy direct and finance would do so regardless of the rate.

 

[jtowntoflorida]

I believe they went up already on the 18th? It looks like these are the new rates. I'm not positive, but I got these from a DVC online guidebook I had in my old mail. It was dated 7/18/13:


Standard
10% down 17.5%
20% down 14.5%

Preferred
10% down 14.5%
20% down 12.0%

Premium
10% down 12.0%
20% down 9.99%

DVC Member
10% down 11.0%
20% down 8.99%

Wow. I had no idea rates were that high. You have to want DVC really, really badly RIGHT NOW to pay those rates. Holy buckets.

 

[M1Thumb]

Does anybody have an idea of how many people actually finance directly? With those rate? Boggles the mind.

 

[dmunsil]

Does anybody have an idea of how many people actually finance directly? With those rate? Boggles the mind.

So far in the month of July, Disney has issued 2,272 deeds, and mortgages for 1,275 of those. So 56% of buyers this month (so far) financed their purchase.

Last month it was 63%. The month before it was 66%. So the number seems to be going down, for whatever that's worth.

 

[ELMC]

So far in the month of July, Disney has issued 2,272 deeds, and mortgages for 1,275 of those. So 56% of buyers this month (so far) financed their purchase.

Last month it was 63%. The month before it was 66%. So the number seems to be going down, for whatever that's worth.

This is very interesting information. Any chance you can compile long term statistics on this?

 

[wdrl]

So far in the month of July, Disney has issued 2,272 deeds, and mortgages for 1,275 of those. So 56% of buyers this month (so far) financed their purchase.

Last month it was 63%. The month before it was 66%. So the number seems to be going down, for whatever that's worth.

I think its more accurate to say that 56% of all Deeds are being financed, rather than saying that 56% of all buyers financed their purchase. Disney issues a Mortgage document on each Deed that is being financed. If a buyer splits their financed purchase into multiple deeds, a Mortgage is issued for each Deed.

 

[dmunsil]

I think its more accurate to say that 56% of all Deeds are being financed, rather than saying that 56% of all buyers financed their purchase. Disney issues a Mortgage document on each Deed that is being financed. If a buyer splits their financed purchase into multiple deeds, a Mortgage is issued for each Deed.

Absolutely, but I don't think there's any reason to think people who finance are more or less likely to split up their deeds than people who don't finance. I can't imagine deed splits would shift the numbers any significant amount. Do you find that not to be true?