Lenders

[WDW-BWV]

Does anyone have good/bad advice on lenders for time share purchases other than through Disney?

Any great or bad experiences?

 

[DougEMG]

I beleive the sponser of this boards, TTS does financing. Don't have any personal experiences with that though.

 

[cfw213]

As far as I know, Timeshare Lending is the only independent timeshare loan company...they work with TSS and Fidelity. We used them, they were fine...the only shocker was the closing costs - they ran almost $900, much higher than we expected.

 

[Dean]

As far as I know, Timeshare Lending is the only independent timeshare loan company...they work with TSS and Fidelity. We used them, they were fine...the only shocker was the closing costs - they ran almost $900, much higher than we expected.

Ouch. They have a min of $5K and then I think it's 12.9% of 13.9% depending on 10 or 20% down. It's far better to buy less points, skip a year or 2 and save or similar options than financing if the money isn't readily available. There may be other financing options but I wouldn't do the CC thing or put up a house and take those risks personally.

 

[murphy7573]

When I purchased, didn't use a lender... Just used one of my credit cards that was giving me those checks with 0% interest for up to 18 months...much better deal, cheaper too, and credit card points too...I think it was my Disney Chase card as a matter of fact, I think??? Screw that 12% interest rate...Blah !!!

 

[cfw213]

I'm not going to say it doesnt suck to pay 12%, but it's not the worst money we've ever spent!

 

[murphy7573]

I wuz just suggesting another option for you...Some ppl who purchase think they either have to have all the money up front or HAVE to use a lender...this wuz about couple of years ago too, when it was hard to get loans b-cuz of the rad recession we're in which wuz a benefit to my family with driving down the DVC resale prices!!! Hey, you know your finances, do what you need to do!!! Good Luck !!!