JimMIA
There's more to life than mice...
- Joined
- Feb 16, 2005
- Messages
- 21,168
I just went through the presentation a couple of weeks ago. I was told the $10 per point discount would go away on Feb 28, which would take the price back up to $95. But there was absolutely nothing that could be construed as "pushy" or "pressure." It just wasn't like that at all -- it was very professional and low-key.
The financing quoted was 5.95% with 50 % down, but that was only for one year. For 3, 5, 7, or 10 years, with 20% down, the APR was 10.75%.
A lot of people get hung up on the financing, but it seems to me that the better idea, by far, would be to use a home equity loan and pay cash. The home equity is almost certain to be less than 10.75%, and it is also certainly 100% tax deductible.
As far as where to buy, I think the best advice is buy where you want to stay -- especially if that happens to be a place like Boardwalk, Beach Club, or Wilderness. You get an 11 month window at your home resort, and that may make a big difference at those resorts in particular -- especially if you want to go during peak times.
Me? I chose resale. I have a contract pending at OKW for $74 a point, with a bunch of 2004 points for nothing. If you look on the DVC Community board, you will see a thread about passing or not passing ROFR (Disney has Right of First Refusal on resales). If you go to the last page there, you will see a sampling of the latest known resales, what deals have gone through, and which ones Disney has stepped in and bought. There are a number in the $72-75 range at OKW which have succeeded -- and that's a far cry from $85 or $95 at Saratoga Springs if you miss the discount period. The only deal they've stopped was at $65, which is ridiculously low.
If you love OKW, I'd find my own financing and buy where you love...and save a few bucks in the process.
The financing quoted was 5.95% with 50 % down, but that was only for one year. For 3, 5, 7, or 10 years, with 20% down, the APR was 10.75%.
A lot of people get hung up on the financing, but it seems to me that the better idea, by far, would be to use a home equity loan and pay cash. The home equity is almost certain to be less than 10.75%, and it is also certainly 100% tax deductible.
As far as where to buy, I think the best advice is buy where you want to stay -- especially if that happens to be a place like Boardwalk, Beach Club, or Wilderness. You get an 11 month window at your home resort, and that may make a big difference at those resorts in particular -- especially if you want to go during peak times.
Me? I chose resale. I have a contract pending at OKW for $74 a point, with a bunch of 2004 points for nothing. If you look on the DVC Community board, you will see a thread about passing or not passing ROFR (Disney has Right of First Refusal on resales). If you go to the last page there, you will see a sampling of the latest known resales, what deals have gone through, and which ones Disney has stepped in and bought. There are a number in the $72-75 range at OKW which have succeeded -- and that's a far cry from $85 or $95 at Saratoga Springs if you miss the discount period. The only deal they've stopped was at $65, which is ridiculously low.
If you love OKW, I'd find my own financing and buy where you love...and save a few bucks in the process.
