people w/ multiple contracts ???

[tinker_me_happy]

How do you purchase multiple contracts? From a financial standpoint. I purchased my initial contract last year and financed over ten years, but it will be paid off in five. I do not have large sums of cash on hand or in the bank, but can make monthly payments. I was just wondering how people buy multiple contracts. I would love to purchase a small contract at BCV so I am keeping my eyes open on the resale sites. 100 points would be perfect. I'm wondering what financial "tricks" people use to add on.

 

[eva]

How do you purchase multiple contracts? From a financial standpoint. I purchased my initial contract last year and financed over ten years, but it will be paid off in five. I do not have large sums of cash on hand or in the bank, but can make monthly payments. I was just wondering how people buy multiple contracts. I would love to purchase a small contract at BCV so I am keeping my eyes open on the resale sites. 100 points would be perfect. I'm wondering what financial "tricks" people use to add on.

I guess by purchasing over 11 years. We currently have 650 points. But we started with 150 back in 1997. If you can avoid financing, that helps quite a bit too.

 

[shortypots]

We are using a Heloc to purchase both of ours. We also got an inheritance that we used for the downpayments. We refinanced our house to a 10 yr note recently as well which opened us up for the HELOC. It is a great feeling when you are 32 yrs old and know that your house will be paid off in 10 yrs!

 

[DeeCee735]

We bought our initial contract up front, no financing. Waited a few years, and added on a couple of times without financing either. This add on we set up to finance, but I will pay it off within three months, I don't like all that interest that adds up over time. If we didn't have the money up front to do this, we wouldn't have added on 4 more contracts. The maintenance fees (for us) is enough of a recurring bill. We feel fortunate to have been able to buy the points we did, when we did, which are serving our vacation needs perfectly (for now ), so we are done for the time being!

 

[kimberh]

I would not finance multiple contracts. If, you are already making payments on one, work on paying that one off, then look at buying another one. I have four resorts, I paid for three of them, financed one. I have paid part of it off. It is in 3 small contracts, I have paid one off, and part of the second one ( those 3 make one.)

 

[tinker_me_happy]

I wouldn't finance more than one contract at a time. I do have my eyes open should the right thing come along resale though. I'm hoping in about 18 months!

 

[kimberh]

I wouldn't finance more than one contract at a time. I do have my eyes open should the right thing come along resale though. I'm hoping in about 18 months!

Smart, I had 3 teenages at one time, it's fun isn't it! I was so busy! They are gone now. They all played sports, My life started at 5:30pm. I had a daytimer calander for their ball schedules.

 

[Cruelladeville]

I financed my first contract in 1997, and paid it off in 3 years. Once it was paid off, I continued to make payments to myself until I had the money to buy a contract without financing. I continued doing that until I decided I had enough points for my family's use, and had purchased 915 points.

 

[jamstew]

I bought resale so I could get smaller contracts with no financing. That got my foot in the door, and I can now add on in 25 point increments as funds are available.

 

[Jaaron2]

We purchased our initial contract with cash that we had in our savings account. We then bought a 100 point contract which we financed over three years. Have since added on three more times (25,25 and 50 points) all with cash.

Some things that work well when looking to purchase:

1) Tax returns (always a good time to add on)
2) Zero interest credit cards. If you have the ability to pay off the card with 12 months you can basically get an interest free loan. If you cant you can always transfer the balance to another zero interest credit card.

We also stash bonuses from work, gifts etc in another bank account for our Disney fix and to help cover the cost of the trips.