How much up front cash needed to buy DVC?

[pstepka]

If I were to finance the entire amount (through Disney), how much actual cash is required when closing? Do we have to pay the maintenance fee in cash? Can the maintenance fees be added to your monthly payment and so you never have a bill?

Pam

 

[floridafam]

If you buy in at SSR you will have to put down 10%.

Let's say you buy 200 pts.

200 x $89.00 per pt is $17,800.

You would put down $1,780.

Disney would give you a credit of $2,000.

This leaves a balance of $14,020 to finance.

Let's say you finance for 10 years at 9.75 interest-I believe this is the interest rate you get if you use direct debit.

$14,020 x .0130770=payments of $183.34 per month.

Dues on 200 pts would be around$63.33 per month. They can also direct debit these or you can pay them yearly in January.

 

[pstepka]

hmmm...doesn't look too bad! I'll have to talk my husband into it before October 31st!! (He wants to buy, but I don't think right now).

Thanks SO much for the calculations!!!

Pam

 

[floridafam]

You can calculate using that formula for any number of pts you may want to buy.

I'm assuming they are still offering the 9.75 interest rate if you finance and use direct debit.

Good luck.

 

[floridafam]

You can also look at the 3 and 5 yr finance options.

It's amazing how much interes one would pay if they take the entire 10 yrs to pay off the contract.

I've read from most on these boards that they pay it off early.

We paid our initial contract off in a very short period of time and saved a lot of interest.

It's nice that DVC gives so many options. It really allows for a lot of flexability (sp?)

 

[floridafam]

One more thing......

If you're at all serious about buying-the sooner the better.

You never know when they may raise the price. I have no idea if they will or not but we regret not buying in sooner.

From all accounts, SSR sales are brisk and I confirmed with my guide that the incentives can end at any time even though it says they will go to Oct. 31.