Monthly payment for 120 pt add on promo????

[Rozzie]

thinking about adding on since the deal seems not to last too much longer. Anyone figure out what the monthly payment is with 10% down? we allready have 1 contract financed, and going to see what our new payment would be. (until we can pay these off in 12 months, got some money coming in)

also, does DVC want all the requireds (W-2's etc.) when you do a add on? Didn't know what we would need to bring with us.

Thanks in advance!

 

[Daitcher]

thinking about adding on since the deal seems not to last too much longer. Anyone figure out what the monthly payment is with 10% down? we allready have 1 contract financed, and going to see what our new payment would be. (until we can pay these off in 12 months, got some money coming in)

also, does DVC want all the requireds (W-2's etc.) when you do a add on? Didn't know what we would need to bring with us.

Thanks in advance!

My advice is to wait until that money comes in. Financing doesn't make sense to me. Paying interest on a luxury purchase is a ticket to the poor house. I also strongly believe the incentice or some other great incentive will be there when you can afford to pay cash. DVC always tries to make people belive they have to jump on the current incentive. When one stops another starts. Good luck with whatevr you decide.

p.s. my best guess would be payments around $120 per month with dues around $35/month. This is a top of my head guess so hopefully someone can help more.


DAVE

 

[ErinC]

Rozzie, DVC doesn't do a credit check and the financial papers with an add on like they do with the original contract. All they will need will be your signature by the mickey heads and dates by the palm trees! AHHH DVC makes it soooo easy! No financial paperwork required!

 

[Rozzie]

Rozzie, DVC doesn't do a credit check and the financial papers with an add on like they do with the original contract. All they will need will be your signature by the mickey heads and dates by the palm trees! AHHH DVC makes it soooo easy! No financial paperwork required!

thanks! they do make it pretty easy, some would say too easy

one of these days I keep expecting to run into you at Walmart!

 

[ErinC]

thanks! they do make it pretty easy, some would say too easy

one of these days I keep expecting to run into you at Walmart!

Oh yes, Walmart is my other home! That equal with the time I spend at Target!, DH hates the time and money that I spend at both! We just may have to get together for lunch someday.

 

[lisaviolet]

Rozzie, DVC doesn't do a credit check and the financial papers with an add on like they do with the original contract. All they will need will be your signature by the mickey heads and dates by the palm trees! AHHH DVC makes it soooo easy! No financial paperwork required!

Even if you didn't finance your first contract? I am asking b/c that's what we did so that means they would set up a financed add-on without any financial information? Really? Ooooh that would be too easy!!! Curious.

 

[ErinC]

Even if you didn't finance your first contract? I am asking b/c that's what we did so that means they would set up a financed add-on without any financial information? Really? Ooooh that would be too easy!!! Curious.

My guess is, if you didn't finance the first time around they would probably do a check this time. But you would need to call your guide and check. Not real sure about that scenario.

 

[lisaviolet]

That's what I thought Erin. Thanks. Because I know that just because I paid in full for my 1st unfortunately doesn't mean that I can afford to finance the 2nd or the 3rd or the 4th.....

I never thought I would even think of an add-on. I guess I didn't fully believe the stories of the urge to add-on and on and on and on. I've learned my lesson. It's a real addiction.

 

[Alice Sr.]

120 points $11,760
15% credit $ 1,764
10% down $ 1,176
Finance $8,820 X 10 years @ 9.75% (Disney offer) = 115.34 @ month
Dues @ month $38

 

[mitros]

This thread brings a question to mind, wonder how many folks out there had to get rid of their DVC membership because the costs became just too much to handle due to the fact that they make it so "easy" to purchase contracts?

 

[Rence]

This thread brings a question to mind, wonder how many folks out there had to get rid of their DVC membership because the costs became just too much to handle due to the fact that they make it so "easy" to purchase contracts?

I assume that this is the source of many resales. I doubt that many people sell DVC because they don't like it. I would assume that divorce, and over extending on point purchases are the main reasons why we have resales.

 

[Rozzie]

This thread brings a question to mind, wonder how many folks out there had to get rid of their DVC membership because the costs became just too much to handle due to the fact that they make it so "easy" to purchase contracts?

for all of those tossing and turning at night, wondering if I am making a mistake financing a add on, rest assured, I have the means.

btw, I do think a lot of resales are people who really couldn't afford it in the first place, and the easy credit terms--everyone practically approved---makes my head spin. I even read people right out of bankruptcy getting approved, I'm sure there are special situations to go along with it, but I still can't imagine....

best wishes Robyn

 

[spiceycat]

sometimes resales are due to divorce, deads (many of us are over 50 these days), retiring (their are better deals but you need time and energy to find them), plus some people actually get tired of WDW. I know how to believe - but they do.

I almost lost mind. I was going to have my brother put on as a joint owner. He declared bankruptcy and I would have lost my points.

I didn't because I was not paying over $900 to do it. He is on as my associate member.

 

[PattiPB]

What is an "associate member"?

We are looking to purchase this week, and I know I'll be giving my parents some weekenders. Would it be a good idea to have them as "associate members"? Would it make ressies more convenient?

TIA for the information---I'm wading in, here!

 

[crazywig]

My guess is, if you didn't finance the first time around they would probably do a check this time. But you would need to call your guide and check. Not real sure about that scenario.

we paid cash for our intial contract and financed the add on (short term). they just make you fill out some ridiculously flimsy credit application. then you whizz right thru

 

[ta11_0ne_h3re]

I went through Suntrust bank with a line of credit and got 6% up to 10 years if needed. Just a suggestion.

 

[Alice Sr.]

That's a good idea Tall One, and welcome to the Dis.

 

[erikthewise]

Regarding resales, I wouldn't be surprised if a substantial number of people buy with the intention of reselling after a certain number of years. This is not unlike people who take out a 30-year mortgage on a house they have no intention of living in for more than 10 years. (Another bad financial move, but that's not the issue here.) I intend to be there in 2042 and they will have to drag me away -- shouldn't be too hard when I am 90! But not everyone thinks of it as a lifetime commitment.

 

[bavaria]

That's very true - I've even had a guide in the past do the calcuation 'in XYZ years you could sell and have received full value of your purchase'. Almost as if that would trigger some people to consider selling after a few years, and make them more inclined to buy.

I too plan on using all the years on my purchase!