Looking into buying a resale

[FisherFamily]

Looking into buying a resale for BLT talked to The Timeshare Store. We want to finance our purchase, we were told to talk to timeshare lending but the interest rate is 13.9%. Does anyone know of a company who does dvc financing that has a better interest rate?

 

[bakenatj]

A couple options.

1. Personal load, if you are able to get one.

2. If you own your home you can refinance your home. Right now is a good time to do that since rates are so low. Make sure you get a fixed rate though. Just add the amount you need onto the refinance.

 

[Dean]

Looking into buying a resale for BLT talked to The Timeshare Store. We want to finance our purchase, we were told to talk to timeshare lending but the interest rate is 13.9%. Does anyone know of a company who does dvc financing that has a better interest rate?

This is the only public company I am aware of that will finance a timeshare resale. They only finance the top ones like Marriott & DVC with a min of $5K. If you're looking at that rate you're not putting down enough. I believe it's 1% less than that if you put down 20%. I wouldn't finance a timeshare personally at all, I'd just wait and maybe skip a full trip to get the money together. I'd also consider buying less points or a different home resort. Other options would include a signature loan at your bank or CU or a HELOC. The signature loan would not be tax deductible and would likely be as high or maybe even higher, the others would potentially be deductible for the interest subject to other rules if that matters.