Question About DVC Financing

[Piglette]

If we were to buy at BCV through DVC, can we finance through Disney? If so, at what rate? How long will they finance for? Is it a monthly payment?

Thanks!

 

[KathyR]

You can finance through Disney, but you will pay a price for it! The interest rate (last I heard) was around 12%. You can finance up to 10 years, and it is a automatic monthly draft from your checking or savings account. You would save a nice chunk of change w/a home equity loan, but I will say financing through disney sure is easy if that is what you are after

 

[ToyStory Fan]

You can finance thru DVC, but it's may more expensive in the long run. I think the best rate DVC offered us last year was around 10%, but you can use a home equity loan, or even a home equity line of credit and these days get a rate below 6%, helocs are usually at prime or prime - 1/4 pt (prime rate is at an all time low right now). That's real money saved. The only thing with the (heloc) you can pay a minimum payment per month similar to a credit card, but your best bet is to set up a loan amortization schedule and pay-off the loan in a "set" timeframe that works best for you financially. This would be just like financing thru DVC, but at a much lower rate. Hope that helps.

 

[Piglette]

Thanks for the info!