Island Tower at Polynesian Villas & Bungalows

[Salokin]

Yes I had to buy 24 OTUP the last couple of years.

This year I paid $20 and last year I paid $22.
I want to to say I only paid $19 before that but I can't find my gift cards records from then.

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Yes definitely $19 previously

 

[Royal Consort]

Isn’t it available to international members if in the states at the point of purchase?

No, this is not available to international members regardless.

 

[Salokin]

I was always told that finance via Disney was only available if in the country or so I thought, must have misunderstood

 

[Lorana]

I don’t think they’re pulling credit scores for these loans, at least for existing members, but I could be wrong. I certainly wouldn’t finance a DVC purchase at 9 percent (unless planning to immediately pay it off), but relative to every other kind of loan it certainly isn’t as terrible as it would have been 5 years ago.

I can’t speak for new purchasers but for existing no credit score was pulled. We financed our last direct purchase to buy time to sell our resale contract (and spread out the down payment over 90 days which also delayed closing and thus delayed when the loan was finalized and interest started accruing). We only ended up financing two months in the end.

It’s slightly more of a pain to buy direct when you have a loan because you have to have it notarized; though Disney has a free online notary service you can use. The other benefit we discovered to financing is that we could make final payments with our credit card and earn rewards on our cards.

 

[SugarSweetLee]

I can’t speak for new purchasers but for existing no credit score was pulled. We financed our last direct purchase to buy time to sell our resale contract (and spread out the down payment over 90 days which also delayed closing and thus delayed when the loan was finalized and interest started accruing). We only ended up financing two months in the end.

It’s slightly more of a pain to buy direct when you have a loan because you have to have it notarized; though Disney has a free online notary service you can use. The other benefit we discovered to financing is that we could make final payments with our credit card and earn rewards on our cards.

We had to use their online notary when buying direct and paying out of pocket (spread over 90 days), so not sure it's anything specific to loans

 

[byurick]

Just did the disney online notary the other day, it takes about 20 minutes between entering your information and doing the signing session live. Super easy.

 

[TinkAgainU]

I can’t speak for new purchasers but for existing no credit score was pulled. ...

Although if I recall correctly, even if you do NOT finance there is a term in the Direct purchase agreement (unless you notify them in writing prior to Closing) they can run both credit and background checks - and share them with their affiliates. I have nothing to hide (I think, lol) but that creeped me out a bit.

 

[BamaGuy44]

9 percent for current owners.

This is correct, at least for us in May. 9.99%, or 8.99 if you agree to do auto draft.

 

[BamaGuy44]

I can’t speak for new purchasers but for existing no credit score was pulled. We financed our last direct purchase to buy time to sell our resale contract (and spread out the down payment over 90 days which also delayed closing and thus delayed when the loan was finalized and interest started accruing). We only ended up financing two months in the end.

It’s slightly more of a pain to buy direct when you have a loan because you have to have it notarized; though Disney has a free online notary service you can use. The other benefit we discovered to financing is that we could make final payments with our credit card and earn rewards on our cards.

One other wrinkle I wasn't aware of, We were told for current members in good standing (no missed loan payments or dues payment in the previous year or something), that no credit check is required. When we inquired about adding our adult son to the new contract, they said adding a non-member to the contract would mean they had to run credit checks on all 3 of us (Me and DW who are on the other contracts, and my son).

We decided not to hassle with that, we will add him to the contract later once it's paid off. We did the financing as a short term bridge until some other funds freed up, so we wanted it to be low friction.

We used their online notary and it was very fast and easy. Appointment was about 3 days after we made our down payment, and took like 10 minutes. Points were added immediately though, we already had a trip booked with the new points the day we bought.

 

[CastAStone]

They absolutely pull credit scores for brand new buyers; it’s in their disclosures.

As noted above, they generally do not require a hard credit check for existing owners in good standing.

 

[Genie+]

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Don't be fooled by this misdirection. I'm still holding out hope that "Politow" will sprout transportation options out of these orifices.

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Oooohhhh. That’s what the cages are for! In case you’re scared of getting knocked int he head with a MonoLiner.

 

[eticketplease]

One other wrinkle I wasn't aware of, We were told for current members in good standing (no missed loan payments or dues payment in the previous year or something), that no credit check is required. When we inquired about adding our adult son to the new contract, they said adding a non-member to the contract would mean they had to run credit checks on all 3 of us (Me and DW who are on the other contracts, and my son).

We decided not to hassle with that, we will add him to the contract later once it's paid off. We did the financing as a short term bridge until some other funds freed up, so we wanted it to be low friction.

We used their online notary and it was very fast and easy. Appointment was about 3 days after we made our down payment, and took like 10 minutes. Points were added immediately though, we already had a trip booked with the new points the day we bought.

Assuming your son is not on your existing contract(s) this would generate a new member number I believe.

You should be able to add your son after the purchase since at that point your financing is secured but I believe you would have to add him to all of the existing contract(s).

 

[NY Pirate Princess]

Okay. Let me get this straight.

1. I can put down payment on my dream 150 point direct Poly contract on a card instead of using the cash I have saved.

2. I can split this payment ($7,000) over 90 days, at which point the Disney Direct financing will take out the rest of the balance. And I could use my Disney Visa to stretch that another 6 months?

3. I am a member for more than a year and would agree to auto draft so I could get 8.99% that would start after the 90 days are over. with an October 1 buy that might be January 1 first payment?

4. As soon as I have points in my account I can market my resale to pay down the loan?

4. I can pay the balance of the loan next April with my retirement bonus WITH A CREDIT CARD?

 

[MartyParty]

Okay. Let me get this straight.

1. I can put down payment on my dream 150 point direct Poly contract on a card instead of using the cash I have saved.

2. I can split this payment ($7,000) over 90 days, at which point the Disney Direct financing will take out the rest of the balance. And I could use my Disney Visa to stretch that another 6 months?

3. I am a member for more than a year and would agree to auto draft so I could get 8.99% that would start after the 90 days are over. with an October 1 buy that might be January 1 first payment?

4. As soon as I have points in my account I can market my resale to pay down the loan?

4. I can pay the balance of the loan next April with my retirement bonus WITH A CREDIT CARD?

If using the Disney credit card (preferred $49/year annual fee) you'll get 2% Disney cash back. Estimating for a 150 pt purchase that would equate to about $700 back. If standard Disney credit card (no annual fee) it would be 1% and half that amount.

 

[disneylandtour]

If using the Disney credit card (preferred $49/year annual fee) you'll get 2% Disney cash back. Estimating for a 150 pt purchase that would equate to about $700 back. If standard Disney credit card (no annual fee) it would be 1% and half that amount.

You're estimating that points would cost over $230pp. Hmmm. I think that would be a very hard sell.

 

[NY Pirate Princess]

You're estimating that points would cost over $230pp. Hmmm. I think that would be a very hard sell.

Agreed. I won't be rushing in to purchase at $230pp. I will wait and see if resale continues to fall.

I am not concerned about the cash back value on the card. I am just asking about the method in general.

I would use my Disney card for the 6 months. I realize there are other, higher value cards in my toolbox. In my situation, delaying payment makes the most sense.

 

[VGCgroupie]

We had to use their online notary when buying direct and paying out of pocket (spread over 90 days), so not sure it's anything specific to loans

I didnt buy in FL, bought VDH, I didnt have anything notarized doing the 90 day pay.

 

[eticketplease]

Okay. Let me get this straight.

1. I can put down payment on my dream 150 point direct Poly contract on a card instead of using the cash I have saved.

2. I can split this payment ($7,000) over 90 days, at which point the Disney Direct financing will take out the rest of the balance. And I could use my Disney Visa to stretch that another 6 months?

3. I am a member for more than a year and would agree to auto draft so I could get 8.99% that would start after the 90 days are over. with an October 1 buy that might be January 1 first payment?

4. As soon as I have points in my account I can market my resale to pay down the loan?

4. I can pay the balance of the loan next April with my retirement bonus WITH A CREDIT CARD?

1. Yes
2. People have been able to split the payment previously. So for example if using the no AF Disney Card you paid $2k on January 1 You would have 6 months 0% (Give or take June to be paid off), Payment 2 of $2K was made on Jan 30th the 0% would kick in and have to be paid around June 30th and payment #3 of $1K was made on Feb 28th then 0% is active for that amount and would need to be paid off around August 28th.
3. I believe this will be like buying a house or a car and the interest will start pretty much right away. As far as when your first payment is do I'm not sure if that is when you get your points or after you made your last part of your down payment. Assuming your down payment was 20% and you select auto draft the rates are showing the 8.99% at the moment but as others stated it has been this way for a long time. If you are doing 10% down then with autodraft it is 11%.
4. You can list before you just don't want to actually accept an offer until the points have been loaded into your account.
5. Prior posts indicate that yes you would be able to pay the loan with a credit card.

Also when adding on remember you will also be billed for your annual dues later on usually 45 days after closing. Depending on when you buy them they will be prorated.

Also to note you may find another non Disney card out there that gives 12-21 months of 0% and some rewards.

 

[Electron_si]

I can’t speak for new purchasers but for existing no credit score was pulled. We financed our last direct purchase to buy time to sell our resale contract (and spread out the down payment over 90 days which also delayed closing and thus delayed when the loan was finalized and interest started accruing). We only ended up financing two months in the end.

It’s slightly more of a pain to buy direct when you have a loan because you have to have it notarized; though Disney has a free online notary service you can use. The other benefit we discovered to financing is that we could make final payments with our credit card and earn rewards on our cards.

As a recent update we bought direct without financing a few months ago and still had to notarize online with Disney. This is something new that they started doing. It wasn’t painful but both parties had to be available.

 

[CWTC]

We are existing members but added on VGC direct earlier this year - on site at DL. We did not finance but did spread out the payments on the Disney chase visa to get rewards. Our guide had us set up with a notary (online) but about 20 minutes before the appointment the notary sent an email saying that since we were not financing there was no need for a notary. The whole notary thing sounds pretty variable.