If you buy direct and finance through Disney

[marivigi]

Does anyone know what the interest rate offered is?

Do they have different interest rates?

Thanks!

 

[WDWLayla]

I believe it was preferred rate of 12.5 and standard of 17.5? With 10% down.

20% down gets you a standar rate of 12.5 and a preferred rate of 9.5 I believe

 

[tjkraz]

With 10% down, rates are 11.5%, 14.5% and 17.5% depending upon credit scores.

With 20% down rates are 9%, 10.5% and 12.5%.

 

[marivigi]

thank you!

 

[Sur]

If I recall correctly, you may put a down payment on your cc, enabling some choices there also.

 

[kelis]

With 10% down, rates are 11.5%, 14.5% and 17.5% depending upon credit scores.

With 20% down rates are 9%, 10.5% and 12.5%.

Having just purchased on Thursday, these are exactly the numbers I saw.

 

[intertile]

they also have better numbers if you are adding on.

If you put 10% down its 8.5% with auto-debit
If you put 5% down its 10.5% with auto-debit

This is only offered to existing DVC members with a history of a loan. They look at your last 6 months payments only. If they were all on-time you are automatically approved and given these rates. Info was given to me on a DCL cruise and confirmed by my guide last week. (Cruise actually gave me 2 print outs showing the rates, downpayments, dues, and monthly payments)

 

[disneypoor]

We just added on a small contract last week and got 8%. We put 20% down though. Our first DVC purchase was already paid off, but I remembered it being 10 percent, so I was surprised at the 8%.

Susan

 

[tazleiten12]

I seen on another site, the rates went up. Below is what they now show. I wonder if this affects the classic resort wait-lists?

Premium, 10% down: 11.5%
Premium, 20% down: 9.0%

Preferred, 10% down: 14.5%
Preferred, 20% down: 10.5%

Standard, 10% down: 17.5%
Standard, 20% down: 12.5%

The above rates assume the buyer agrees to direct debit of monthly payments from a US-based bank account. Buyers who are not willing to enroll in the direct debit program will be charged an additional 1%.

 

[Novakm]

Wow that's pretty high, considering I just refinanced a house at less than 3%.

 

[elfbo]

Our guide told us on sunday. Preferred 10.5% with 10% down. 8% with 20% dwn. We are on the waitlist if that could make a difference

 

[tjkraz]

Premium, 10% down: 11.5%
Premium, 20% down: 9.0%

Preferred, 10% down: 14.5%
Preferred, 20% down: 10.5%

Standard, 10% down: 17.5%
Standard, 20% down: 12.5%

The above rates assume the buyer agrees to direct debit of monthly payments from a US-based bank account. Buyers who are not willing to enroll in the direct debit program will be charged an additional 1%.

It's actually 1% LESS than the rates above if direct debit. So 10.5% Premium with 10% down and Direct Debit. 8% Premium with 20% and DD.

 

[geraghty]

Wow that's pretty high, considering I just refinanced a house at less than 3%.

But does your house have a Bay Lake view and an infinite supply of pixiedust?

 

[rusafee1183]

But does your house have a Bay Lake view and an infinite supply of pixiedust?

Both of these are EXCELLENT points!!

 

[chalee94]

Wow that's pretty high, considering I just refinanced a house at less than 3%.

a house might decline in value a bit over the short term, but DVC is definitely headed to zero (and many timeshares are already there - $1 on ebay - what a deal!), so banks are justifiably antsy about lending on timeshares...

 

[Novakm]

No, my house does not have an endless supply of pixie dust, or a bay lake view!

 

[elfbo]

My dog is named pixie and I can see the river sometimes. Does that count?

 

[z28wiz]

My dog is named pixie and I can see the river sometimes. Does that count?

One of my dogs is named Mickey, and yes its named after the Mouse!

 

[I❤MICKEY]

Starting to consider purchasing. Not sure if we'll do direct or resale.

Does anyone know if the interest on the loan can be deducted from your taxes? I was told that the annual dues can be but I'm not sure if that is true either.

 

[Sandisw]

Starting to consider purchasing. Not sure if we'll do direct or resale.

Does anyone know if the interest on the loan can be deducted from your taxes? I was told that the annual dues can be but I'm not sure if that is true either.

The loan from Disney is considered a mortgage so I believe it could qualify as a deduction. You can not deduct all of your annual dues. You can deduct only the taxes part of it.