Points and Financing ?

[KELLY]

We are going to buy tommorow but no sure how the points work. I understand the point system well. I don't understand how to bank your points. When you need to bank point etc. As for the financing ,Guide Mary told me 1 year ,5 year and 10 year. We are only buying between 160 and 185 so I'm not sure they will finace for 10 years? Would be nice and just pay extra when we have it. What is your expereince with the fiancing?

Thanks kelly

 

[Happy Birthday Cat]

They will gladly finance the minimum number of points for 10 years. If you can pay it off early, it would be a good idea. You can go the DVC member web site and make an extra payment on your loan whenever you want.

You can bank up to 100% of your points in the first 6 months of your use year. You just call Member Services and they take care of it for you.

HBC

 

[TomD]

You can finance for 10 yrs on as little as 50 points. Banking points is easy...its the not borrowing points fromthe next year that is killing me

I financed 213 points for 10 years in 2006. In 2009 they will be paid off. I wanted small payments so I went 10 yrs in case something happened. I make extra payments every month.

 

[Boston5602]

We are going to buy tommorow but no sure how the points work. I understand the point system well. I don't understand how to bank your points. When you need to bank point etc. As for the financing ,Guide Mary told me 1 year ,5 year and 10 year. We are only buying between 160 and 185 so I'm not sure they will finace for 10 years? Would be nice and just pay extra when we have it. What is your expereince with the fiancing?

Thanks kelly

I believe the only restriction on financing is you need to purchase a minimum of 50 points to do so. You could do 160 to 185 and finance , you'd need to put down a deposit and it is anywhere from 10 to 50 % but 10 or 20 % is the norm.


banking is when you can " save " your points into the next year. I have a Dec U/Y . December 2005 I got my 200 points in April 2006 I booked a trip for Aug 2006 that took 65 points. I Banked the other 135 points into my 2006 U/Y so come Dec 2006 I had a total of 335 points to use between Dec 2006 and Nov 30 , 2007. 135 of them ( the 2005 banked points ) HAVE to be used by Nov 30 , 2006 or I lose them . I can use or bank the other 200 points I got Dec 2006 .

If I'm going to bank them I have from Dec 1 , 2006 to May 31st , 2007 to bank 100 % of my points . I can bank up to 50% between May 31 and Aug 31 , 2007 and bank just 25 % of my points if I do so Between Sept 1 and Sept 30 2007. If I do not bank my points by Sept 30 and I do not use them before Nov 30 I will lose them.


Hope this helps!!!