How does the buying process work?

[Juliet25]

So far, I've received the DVD from DVC. I got a call asking if I wanted more information, and the "dream" book was FedEx'd to me.

Hypothetically, if I call tonight and say "I want 150 points at VWL using Disney Financing," what happens next? Do I do a CC deposit over the phone? Do I "buy" first and then finance? I have no real rush on this. I'd like to buy it before the price increase on 3/31, but DH hasn't given the offical OK yet, so I won't really be calling tonight. But just pretending, what can I expect?

 

[jlx2]

We are new members, so I can fill you in on our experience. We spoke with our guide and asked a ton of questions. Once we decided we wanted to purchase we called our guide and gave a $500.00 deposit. We had to tell him how many points we wanted and were told what our use year would be. We got a package from Fed Ex later in the week with all our paperwork and information along with a nice DVC Member canvas bag. We filled out all the paperwork and then had to have it noterized and sent it back to Disney. It was all so easy. If you have any other questions just let me know!

 

[Juliet25]

Thanks for your reply!

Did you finance through Disney? I believe I need 10% down to finance...just wondering if that's correct. I've seen $500 mentioned a lot, but I assumme that's if you're paying cash or using some other means to finance.

 

[bounceliketigger]

We just bought under the Friends & Family deal & I fedex'd my stuff to Disney today. We financed with Disney for a couple of reasons: 1) they don't report to credit agencies and it does not show up as a debt/ no negative effect on your debt to income ratio. 2) IT was soooo easy! (though I haven't received an "approval" letter, but I'm not concerned). 3) They offer a mortgage @ 9.75 fixed over 10 years w/ no prepayment penalty. This is actually not a bad rate, as most other financing options will not offer a mortgage, but require it to be a personal loan, which typically is reported and typically comes w/ a pretty high rate.

You are correct, Disney requires 10% down. The $500 is simply a deposit to hold the deal & proceed w/ the process. It is 100% REFUNDABLE if you choose to cancel within the alloted period (7 days from signing). The $500 is deducted from your 10%.

 

[jlx2]

We did pay another "balance" (we bought 160 points during Friends and Family and I think we paid a little over $1000.00 in addition to the deposit) a few weeks after. It was all done over the phone, and really easy.

 

[browniemtb]

Hypothetically, if I call tonight and say "I want 150 points at VWL using Disney Financing," what happens next? Do I do a CC deposit over the phone? Do I "buy" first and then finance? I have no real rush on this. I'd like to buy it before the price increase on 3/31, but DH hasn't given the offical OK yet, so I won't really be calling tonight. But just pretending, what can I expect?

VWL may not be available for sale, but I'm not sure. The guide will write you up for any amount of points you request. An initial deposit of $500 is done over the phone via a CC. At this time you go over financing - you can have the paperwork drawn up to reflect 10%, 20% or more down.......if you are using Disney financing. Once you recieve you package of papers by FedEx just fill them out, its pretty simple. They also give you a 800 number to call to to go over your paperwork and answer any other questions. During this phone call you can actually pay the remaining balance of your deposit via CC if you want or send a check back with your paperwork. Once the initial $500 is down you will get a member # and can start booking.
Brownie

 

[holcomb-mania]

You can start booking after the first $500? Before the paperwork is in?

 

[bounceliketigger]

YEP! We gave the $500 on Feb. 1 & booked on Feb. 3rd!

 

[Boston5602]

We just bought under the Friends & Family deal & I fedex'd my stuff to Disney today. We financed with Disney for a couple of reasons: 1) they don't report to credit agencies and it does not show up as a debt/ no negative effect on your debt to income ratio. 2) IT was soooo easy! (though I haven't received an "approval" letter, but I'm not concerned). 3) They offer a mortgage @ 9.75 fixed over 10 years w/ no prepayment penalty. This is actually not a bad rate, as most other financing options will not offer a mortgage, but require it to be a personal loan, which typically is reported and typically comes w/ a pretty high rate.

You are correct, Disney requires 10% down. The $500 is simply a deposit to hold the deal & proceed w/ the process. It is 100% REFUNDABLE if you choose to cancel within the alloted period (7 days from signing). The $500 is deducted from your 10%.

I hope I'm not sounding dumb ... but is the above true? Disney doesn't show up in credit report as part od debt ratio or anything else?

Thanks for any input evreyone!

 

[Nedebpats]

I hope I'm not sounding dumb ... but is the above true? Disney doesn't show up in credit report as part od debt ratio or anything else?

Thanks for any input evreyone!

If this is true it seems to make sense to go through Disney. Also what is Family and Friends deal and how long will it last?

 

[browniemtb]

If this is true it seems to make sense to go through Disney. Also what is Family and Friends deal and how long will it last?

Family and Friends deal has ended........