How long to hear about approval?

[BraveMom3]

DVC is due to receive my signed paperwork and down payment check (about 55%) tomorrow. How long does it usually take to hear about financing approval? How do they usually contact you regarding this?

 

[floridafam]

As far as I know, you won't have to get financing approval if you put down over 50%-it's automatic.

I know that if you put down 50% and pay the balance off within a year they do not even check your credit report.

Hope this helps.

I'm not sure how it works if you put down over 50% and then finance for any period over 1 yr.

 

[BraveMom3]

Thanks floridafam--I was afraid to commit to the 1 year in case there is some unexpected expense in the next year. I went with the 3 years, but intend to pay it off in about 12 months! Also, since this is an add-on, do you get a new membership card, or does it just go under your original membership number?

 

[pmcpmc]

Contract will say 0000000.01

 

[floridafam]

You don't have to get an approval for an add on. Once you have an original contract they have established your credit-if you do an add on all you do is sign the green credit form-they don't make you fill it out again.

This is what I was told. Someone correct me if I am wrong.