Payment Question When Purchasing

[lvloopingbag]

Hi!
If we decide to buy into DVC during our tour later this month, do we have to give an immediate 10% deposit? If so, what forms of payment do they take? Also, if we decide to put the entire amount ($20,000-$25,000) on one of our credit cards to get the points, when would that payment be required? Thanks!

 

[dnoyes]

It's the same as buying a car really, you need to make the down payment or full payment in order for the contract to begin. I think DVC likes the down payment on a credit card but they may take a check? I did mine over the phone and the whole thing took about ten minutes.

 

[rvhoof]

We put the first half of the total down as a downpayment using our credit card and Disney scheduled the other half to be charged to our card a month later. If you plan to pay in full you need to pay the full amount within 30 days after your down payment. Using the credit card gave me a large amount of bonus airmiles

 

[cigarboo]

We paid our down payment using a credit card, then we used the same credit card to pay the balance. We put down the down payment on 10/31 and the paper work said the balance was due by 11/18. I don't know what they would have done if we needed a few more days. I doubt they would have cancelled our contract. I got about $200 cash back from my Discover card. If I had a few more days, it would have fallen into next month's CC bill and given me more time to pay, but that's OK.

 

[disprincessatheart]

You can actually take more than 30 days - we are. I paid 1/3 as my down payment the day the new offer came out - early November anyway. I made another payment on 11/24 and they've scheduled the last on Decebmer 22 to work around my billing cycles. We are scheduled to close on December 18, but I expect that to be pushed back because of our final payment coming the following week. My guide set this up, and when we got our paperwork I confirmed with the QA people that this was not an issue. We'll use those disney visa points to pay for our meals on our first DVC trip in January!