HELP!! Another question.

[disneyvoice]

Okay I've seen several people post that you only have to put $500 down now and then the rest of the down payment isn't due until later??

We didn't hear anything like that from our guide. We were told we had to pay the entire 20% down payment now (minus the incentive dollars) and that our next payment wouldn't be until March or May (can't remember which) since our building wouldn't be open until April.

If we only have to put $500 done now and can pay the remainder of the 20% down payment in March or May we are now looking a much more feasible option for us since we will already have received our bonuses.

Do you think the $500 is something they only tell you if they think you won't buy??? I'm so stressed right now!!!

 

[Noelle]

We charged our $500 to a credit card. And then when we received our documents, it said to send a check for the remainder of our deposit (less the incentive bonus). I never asked about using a credit card. But the paperwork was very clear about us sending a check for the remainder of our deposit.

Just for curiousity...I'd be interested to know if they didn't charge your credit card for the remainder of your deposit until your contract closed in April/May.

 

[pplasky]

My guide asked for the 20%(minus incentive as well). I said I would have to get back to her. She then said I could put a $500 deposit immediately and then the balance in 30 days. My payments do not start until May.

 

[wbc99]

My guide also asked for the full amount on credit card up front before the documents were sent to me. I did not ask about paying it off as I did not know or think that was an option. My monthly payments do not start until June 1st.

 

[Bill_McIntyre]

I did the following just today:

-$500 down on Credit Card. $1500 credit towards 20% down.
-Balance of 20% (about $900) setup to charge my Credit Card automatically in 30 days.
-Will make Credit Card payments for balance a few time before March 31 so I do not have to pay any interest or penalties.

So not only do I get no interest but I get to spread my payments over the next few months and get the big cash back bonus on my credit card.

This worked out best for me.

Also .... Maint Fees to Credit card also

 

[DawnL]

We put a $500 deposit down in late August when we called to finalize our purchase at SSR. When we received our documents it said that the balance of our deposit was due by check by 10/2. Because we preferred to use our Disney Visa Reward card I called the 800 number to see if it was possible. They said it was and to just call MS before 10/2 and they could process. So yesterday I did just that with no problem at all, it took less than 5 minutes and we will at least receive the rewards!!

 

[zipDdoodah]

Our guide told us up front that you can put down $500 and then pay the remainder of the 20% in 30 days.

As a side note, does anyone know how long it takes to get your PIN in the mail after sending in your documents? We are anxiously awaiting this in order to start using our membership! I don't wanna get too excited until all of the paperwork is complete. Thanks!

 

[Coach Rick]

I just did an add on, and that's what we did. The guide took the info while we were there, and sent the package fedex. Charged $500 then, and the rest 30 days later without having to further authorize. No payments till May 15, no interest till April 15.

My dad then decided when we got home to buy a contract also, and same deal. $500 over the phone the remaining $935 in 30 days.

 

[tjkraz]

As others said, you can get the process moving along (and retain any time-sensitive discounts) by giving a $500 deposit on your credit card. DVC will generate the paperwork which you must sign, notarize and return to DVC with the rest of the down payment. There really isn't any timeframe attached to the return of the paperwork.

The $500 deposit is fully refundable and will be returned to you if you change your mind and decide not to move forward with the purchase.

Would they let you drag it out until 2005? I doubt that. At some point they would have to conclude that you really weren't interested and return your deposit.