Resale vs Direct With Financing

[CastAStone]

The current promo requires you take the no credit check option which is 17.9% vs direct at 9.9%. Monera has adjusted their rates like all the other banks I have looked at for all loan types. However, Disney has not changed the rates.

Monera’s rates have not changed in the past 2 years, there was a whole thread about how weird it was.

 

[tatkins]

Monera’s rates have not changed in the past 2 years, there was a whole thread about how weird it was.

Maybe I’m wrong but I was thinking it was around 2% less last year at the high and low end.

 

[shellymae]

While I agree that this is a marketing gimmick, you'll see most people on these boards who finance do not actually end up taking 12 years to pay off their DVC loan. From what most people have shared, it seems like that a large fraction of those financing pay off the loans in 1-2 years after closing. And, I have yet to meet a loan with a prepayment penalty. Or, they purchase with financing and do a balance transfer to a credit card with a 0% interest period. There are many creative ways to purchase DVC and they don't all require cash up front.

Curious - are you saying they pay off their loan with a 0% interested card? Had no idea this was even an option!

 

[tatkins]

Curious - are you saying they pay off their loan with a 0% interested card? Had no idea this was even an option!

There are credit cards that have 12-18 month zero interest programs. Possibly even more than those time frames. Usually charge a 3-5% one time transfer fee.

 

[ak517]

Curious - are you saying they pay off their loan with a 0% interested card? Had no idea this was even an option!

There are credit cards that have 12-18 month zero interest programs. Possibly even more than those time frames. Usually charge a 3-5% one time transfer fee.

Yes exactly! When buying resale you can only put so much on a credit card directly, so sometimes people will do a balance transfer from the loan to the 0% interest credit card. When buying direct it’s even easier because you can just charge directly to the 0% interest card.