How many people finance DVC?

[Rlbren]

We financed through Disney. We also got the standard rate. No regrets. If we pay it off early then great...and if we don't we're ok with that. The only regret we have is not buying in '92 when we first looked at DVC It almost depresses me when I think about all the points we could have now.

With the economy the way it is now, we need Disney more then ever. The only place I can go and forget about everything in real life.

 

[jake&samsmom]

Just paid in cash today. Mailed it out a few hours ago....I confess, it was hard to see all that money leave my savings account, and I kept going back and forth on whether to finance or not. But I really didn't want to be bothered by paying monthly, and I hate paying interest. Now I just have the annual dues to pay for.

 

[mickeymom629]

I don't think we would have done it if we couldn't have paid cash. It was hard to see the money leave the savings, but I tried to look at it like an "investment". That's how I explain everything I want to buy Now we charge the annual dues on our Disney Visa for the Rewards benefit!

 

[ACDSNY]

We paid half cash/half financed. Disney resorts were getting my money every year anyway, this just breaks it into monthly amounts.

 

[WilsonFlyer]

We paid half cash/half financed. Disney resorts were getting my money every year anyway, this just breaks it into monthly amounts.

A-men to that.

 

[WDW LifeLong Fan]

We've paid cash for all three.

 

[Tine731]

Charged all of our contracts to Amex or Disney Visa and paid the card off at the end of the month.

 

[fasttrakphil]

Financed one contract thru Disney.(paid off early) Put the other three on Disney Visa and paid off at the end of the month..............

 

[jenstall]

I financed for 10 years through Disney and I'm so glad I did. I expect to have it paid in 5 though, since I told myself I would not buy more points before it was paid for and I already want more points

 

[Budshark]

First contract was financed through a low interest Citibank loan (5%). The second contract is 50% down, rest financed through Disney which I hope to have paid off in January/February based on cash flow.

 

[PinkTink63]

Put it on our mileage card then transferred it to our HELOC at prime.

 

[aurorafan]

When we bought in March we financed through Disney (preferred rate) and planned to pay it off in December when DH's bonus came. In June we had to get a new furnace/AC, so we'll pay that off in Dec. instead and pay off DVC next Dec. . We hope to get the car payed off this spring and if we do then we'll apply that payment to the DVC loan--that much less to take out of the bonus when the time comes .

DH says we can't get more points until we pay off this contract, so I'd like to get it paid off sooner rather than later!

 

[AnnaS]

We put it on our Disney Visa for the rewards and immediately paid the balance with cash (main contract and add-ons).

 

[meriface11]

we paid 1/3 in cash and financed the rest for 5 years through my credit union at a rate better than disney's preferred. i got the lump sum of the loan, paid dvc with our disney visa for the points, and then immediately paid the balance with the cash we had plus the money from the loan. our goal is to pay off the credit union loan before the 5 years since there is no penalty for pre-payment.

 

[TinaLampus]

Charged all of our contracts to Amex or Disney Visa and paid the card off at the end of the month.

We put it on our Disney Visa for the rewards and immediately paid the balance with cash (main contract and add-ons).

I didn't realize that you could do this.
So you did get the Disney Rewards points for the purchase then???

Also, did you use the Disney visa to charge the full amount or just a partial amount. I ask because the credit line I have on the Disney visa would not quite cover the full cost of purchasing the DVC membership.

Thanks in advance,
Tina

 

[PinkTink63]

I didn't realize that you could do this.
So you did get the Disney Rewards points for the purchase then???

Also, did you use the Disney visa to charge the full amount or just a partial amount. I ask because the credit line I have on the Disney visa would not quite cover the full cost of purchasing the DVC membership.

Thanks in advance,
Tina

When we bought, our guide split ours up in two payments even though we could have put it all on one. I don't remember why he did it that way. So they might be able to do something like that for you.

 

[FoxberryJam]

HELOC here...

 

[ILuvMulan]

I didn't realize that you could do this.
So you did get the Disney Rewards points for the purchase then???

Also, did you use the Disney visa to charge the full amount or just a partial amount. I ask because the credit line I have on the Disney visa would not quite cover the full cost of purchasing the DVC membership.

Thanks in advance,
Tina

We paid part cash, charged as much as our limit would allow on our Disney Visa (yep, got as many reward dollars as possible), then paid the Disney Visa card and the balance with our home equity line. We got a great interest rate, tax benefits, and we will pay it off ASAP. We also have promised not to buy add-ons until the first purchase is paid in full... great motivation to pay it off early.

 

[Maliki2]

We borrowed on our home equity line which is less than half the rate Disney offers.
I know popular opinion is not to buy if you have to finance. Our thought is that we do not have cash on hand to pay for the next 50 years' vacations, but we still go every year. So we pay down our loan in big chunks each time we go and whenever finances permit.

We financed. But we have a plan to have it paid off in 2 years. Which I don't think is a bad option. BUT even with 10...it may take longer to actually get your money back but you will

 

[AnnaS]

I didn't realize that you could do this.
So you did get the Disney Rewards points for the purchase then???

Also, did you use the Disney visa to charge the full amount or just a partial amount. I ask because the credit line I have on the Disney visa would not quite cover the full cost of purchasing the DVC membership.

Thanks in advance,
Tina

Yes, you can - only through Disney (not resales).

Our first contract of 200 points our guide split it up. I charged half, waited two/three days and made a payment at the bank. Not long after that, our guide charged the balance. Our add-ons were charged in full since it was below my credit limit (I pay off cc each month in full).