Review of BCV add on options

[Geyser Gazer]

This is not new info, just havent seen it posted for a while.

Just got off the phone with our guide.

$5/pt off incentive ends 4/30/02.
Minimum purchase 100 points.

The $5/pt off is deducted from your balance, not your down payment. So if you bought 100 points you would have to put at least $750 down, then $500 would be deducted from your remaining balance.

12.5% financing for 10% down.
11.5% financing for 20% down.

Interest rate is the same for 3/5/7 or 10 years and you can pay off early without penalty.

-Ron.

 

[HookdonWDW]

Originally posted by Geyser Gazer

The $5/pt off is deducted from your balance, not your down payment. So if you bought 100 points you would have to put at least $750 down, then $500 would be deducted from your remaining balance.

12.5% financing for 10% down.
11.5% financing for 20% down.

Interest rate is the same for 3/5/7 or 10 years and you can pay off early without penalty.

-Ron.

Per my guide on Monday:

$5/pt CAN be used towards downpayment if you are putting down 20%. If you put down 10%, the $5/pt goes towards principal.

New incentive begins 5/1/02, MB $5/pt (means that you can sell your 2002 points back to DVC for $5/pt.)

6/1 - Price increase to $80/pt takes effect. Closings will begin on BCV contracts.

He also said that sales are well ahead of projections. It should slow down once the prices go up, but it will still be selling. NY, CA and a couple of other places (don't remember where) still aren't approved for sales. DVC is doing what they can, but basically their hands are tied, and the ball is in the hands of the individual states. He did mention that one of the reasons that they think summer sales will still be brisk, is NY. It's one of the biggest DVC states, and people there can't buy yet.

Also, I told him thanks for getting back to me so quick. He said he wished he could make everyone that happy. He had over 150 calls over the weekend, and was trying to return them all. He said that the call volume gets so heavy, that sometimes people may fall between the cracks, and he feels bad about that.

TEASER: We were talking about DVC selling out early, and I said, "Wow, that would mean at least a year before DD DVC is ready." He intimated that they *may* be moving the project completion schedule up on that project so that they have something to sell. They'll probably do pre-sales on that property too.

 

[Geyser Gazer]

HookDonWDW,

Thanks! you cleared something up for me.
I was told that legally a minimum of 10% down was requisite so that it was not possible to deduct any from this amount even if they wanted to. This is why they can do it for 20% down. So for a 100 pt add on only an extra $250 down ($1000 total) will get you 11.5 rather than 12.5% interest rate.