newbie with ?'s

[abk96]

We are looking to purchase 200 pts. in the vacation club which should be around $18,000. Does anyone know what the minumum down payment would be to purchase such a vacation club package? I'm assuming they allow financing.

eta: Are there any addtional dues and fees attached to a vacation club purchase?

also edited to fixed our math mistakes. Oops.

 

[browniemtb]

We are looking to purchase 220 pts. in the vacation club which should be around $15,000. Does anyone know what the minumum down payment would be to purchase such a vacation club package? I'm assuming they allow financing.

eta: Are there any addtional dues and fees attached to a vacation club purchase?

Down payments can vary....usually they require a 10% to 20% down. Disney does have financing at 9.75% for a 10 year term. There are yearly dues for each resort. Depending on the resort you belong to you would be looking at $3.98 per point or more. So that 220 contract at SSR would carry yearly dues of $875.56.
Brownie

 

[abk96]

Thank you.

 

[cobbler]

If you want 220 points at SSR. Your cost will be 21560.
Your minimum of 10% diwon will be 2156.
Right now Disney is offering an 8 per point discount that they apply to your the principle so they would give you 1760.

So 21560-2156-1760 = 17644 to finance. If you went through Disney and had it taken directly out of your account (which is the 9.75% rate) for 10 years your montly payment would be 230.73 + your annual dues of 3.98 per point

 

[abk96]

Thanks for correcting our mistake. We didn't even figure out the math last night before we posted that.

Thanks for the help.

 

[abk96]

When do you pay annual dues?

 

[greenban]

When do you pay annual dues?

Why annually! Of course!



Sorry couldn't resist, I tried and I tried......

January 15th I believe of each year, and they accept payments without late fee until February 14th or 15th.

You can now pay online at the DVC owner's website, which is really nice!

-Tony


P.S. At least I didn't say, "on DUESday!"

 

[abk96]

Why annually! Of course!



Sorry couldn't resist, I tried and I tried......

January 15th I believe of each year, and they accept payments without late fee until February 14th or 15th.

You can now pay online at the DVC owner's website, which is really nice!

-Tony


P.S. At least I didn't say, "on DUESday!"

Thanks for the laugh and the info. I really needed a laugh right now.

 

[sssteele]

You can also arrange for monthly dues deductions from a checking account.

 

[abk96]

Oh that's a nice idea too.

Thanks.

 

[Hibernians]

One nice feature is that after you have paid off the financing of the mortgage you will still be able to pay the maintenance fees on a monthly basis.

 

[LisaS]

Assuming you are considering SSR, as others have already posted the dues this year (2006) were $3.98 per point. They will go up around 3%-4% each year on average.