Question about DVC financing (direct debit)?

[Simba's Girl]

Since they don't give you a monthly statement with direct debit....

Do they send a yearly amatorization statement?
If they don't do they make you pay for one?

(I figured it was easier to ask this here than calling )

 

[RobDoc]

You will receive a 1099 by the end of January each year. You'll need that info to report the interest paid on your taxes.

If you want other information (remaining balance), just call Member Accounting (you can access them thru the regular MS number- it's one of the options given during the call).

 

[Doctor P]

You can get a statement at any time that has your transactions. There is no charge. BTW, unless things have changed, Disney uses simple interest or at least a varient that saves you some money!

 

[spencersmom]

Is there a standard interest rate used? Has anyone financed this and how was that? We are still in the "trying to decide" stage and would love more information.

Thanks-Ginny

 

[DiznEeyore]

I believe the current direct-debit interest rate is 10.95%; if you elect to mail payments, it's 11.95% (someone please correct me if I'm wrong!).

 

[TLinden16]

The rates I was quoted the other day were 10.75% for mailing payment, and 9.75% for direct debit.

Karen