Have you paid off DVC?

[eporter66]

We have been looking at our DVC loan and are considering paying it off. We bought in at the end of 2003, and I believe our loan started in 2004. We have a 10 year at 9.75% (through Disney).

We have a vacation in October, and when we booked it, I talked to my wife about trying to save as if we would have to pay for room and all the things that go along with the vacation. So, last January we started putting money away, and now we are thinking about paying down, or off our loan. Not sure if we will as other things have come up around here that I could use the money for, just thought it would be nice to get that payment off the board.

Just wondered how many of you have paid off your DVC?

 

[adminjedi]

We have paid cash for all of our contracts. Paying it off sounds like a good idea.....then you have truly "pre-paid" your vacations and no guilt going in any economy!

 

[bumbershoot]

Gosh, why not? You could start doing it now. There's a handy little button on the DVC loan page to make extra payments of over $10.

 

[GrumpyPOTFH]

I would say pay it off or at least pay it partial down, say half. We purchased is July and did the load just out of the ease to get it done when we were there. But we will be paying it off ASAP. I am letting the first payment happen and then it will be gone. By paying it down or off it would be the easiest 9.75% you will ever make. Where else can you get that for your money.

 

[hpygrll]

Our first batch of points is paid off. The next batch we're buying outright.

So we are free and clear!
Jenny

 

[cvjw]

We paid cash for all of our points when we bought them resale.

 

[CocosMeme]

We have 3 contracts - 1 paid off & 2 getting ready to. We were all set ot pay off this month but had to do some major home repairs ($8,000) recently, so DVC pay off did not work out. I can't wait to get them paid off, so I can truly say our vacations are free!

 

[MinnieFan4ever]

We bought in 2002 BCV 300 points and we took 1 year to pay it off. We then added on 100 pts and payed with cash. It was the best thing we ever did. I wish points we as cheap today as they were back then!

 

[com_op_2000]

We payed cash for our points. As others have stated, it feels so freeing to be on vacation for free, once you pay everything off.

 

[Desnik]

We have 2 DVC contracts and both are paid off. I say if you have the money, pay it off!

 

[maciec]

We financed both of our contracts and dh paid them both off way early. I will have to ask him how early.

 

[speicher46]

We had two contracts. One at OKW for 400 points and one at SSR for 400 points. Both are paid off so the only cost of our vacation home is the annual dues.

 

[Dziactor]

I have bought twice, once at Bay Lake and once at Grand Californian. I paid off bay lake in just under a year and paid of grand cal after one payment came out of my account. Its such a relief knowing we have these done and now I can work on my home mortgage. I really dont want to have that for 30 years and its really the only debt we have.

 

[wildernessDad]

Yep, we are paid off.

 

[nolanboys]

We waited to join and then figured what we wanted to spend. We only bought 200 through the resale market and if we add on it will be when we have it saved. Just a personal preference, but I can't pay interest on a luxury. So, if you can pay it off sooner, go for it!

 

[cseca]

Yep... love the fact that we only have to pay MF but still hate every January when the dreaded bill comes...

 

[mike9950]

I've paid cash for all of my contracts except a small add-on I did last year. I am going to have that one paid off by the end of this year. I hate paying interest charges, but really wanted the extra points .

 

[Pakey]

All 3 contracts (2 at BCV, 1 at SSR) were paid in cash.

 

[twinboysmom]

OP, you and I have the same loan from the same time. We were working on ours and then I stopped working when the boys came along. So, no and I don't think it will be paid for until it matures. We really weren't in the best financial shape when we first bought and probably should have waited a year or two.

 

[eporter66]

Wow - guess I am surprised. I didnt expect so many to have paid it off, or paid in cash on the spot. I am thinking I may pay it, as the credit cards are paid off each month. My only fear is once the wife knows it is paid, and our vacation coming this October, I might find myself back at the DVC booth in the AKV lobby looking for an add on

Obviously this is another topic all together, but we would like more points, but want to see how our vacations change as our daughter gets older, and we have done very well with our contract. But....