small problem...

[joshua74133]

so we want to buy a dvc but the money wont be there to buy until December, we wanted to take our vacation sometime between march-may is there not anyway to get this done???

are we going to have to wait until nov-dec in 2012???

 

[sweetdana]

If you are purchasing direct you could finance it. Or your could take a signature (personal) loan at a local bank or credit union.

 

[WRWDisney]

Even if you were to buy today, availability for March - May 2011 will be limited. You are inside the 7 month window, so depending on your specific needs (dates, resort, etc.), it may be quite difficult to even get in on points. Just something else to consider.

 

[sweetdana]

Good point availibilty would be limited, you sould ask your sales person ahead of time to confirm a room for you. They can do that sometimes.

 

[Bangerang]

Before financing, you should make sure you can afford to continue to make payments for the life of the loan just in case the money isn't there in December. It's better to do a little extra work now than realize in January you can't keep it going forward.

 

[joshua74133]

is there a payment calculator for going threw Disney??? i don't know what the there there payment terms are like how long Interest and so on... does anyone else know

 

[joshua74133]

also payments are not a problem... i just wanted to pay cash, and stay away from them if at all possible plus now ill be paying a loan and upkeep, thats going to suck

 

[chalee94]

interest rates from disney start at 10.75% and go to 14.25% if your credit is not so good.

just use a calculator at bankrate.com or something. it's easy enough to figure the total cost of pts + a couple hundred in closing costs.

i really wouldn't recommend financing a luxury purchase like this, though - DVC will still be around in december...

 

[phelps]

Asl long as you are paying cash, wait till you have the money. For a March thru May vacation wish, availability could be a problem. You could look on the boards and rent points or rent someones reservation. They are listed often at the last minute. Good luck

 

[Sunshine22]

This may help your timing. If you purchase points on a Disney Visa, you will have 6 months interest free if buying direct from Disney. There is a limit on how much of the purchase receives interest free. They were able to split mine into 2 $2500 payments (down payment and then one the next month) so that $5000 of the purchase was interest free.

 

[kwdw]

Asl long as you are paying cash, wait till you have the money. For a March thru May vacation wish, availability could be a problem. You could look on the boards and rent points or rent someones reservation. They are listed often at the last minute. Good luck

Let me second this - this is what I decided to do. I am just a little shy of having all cash on hand to make and close an offer before my March trip - so I am waiting on the DVC purchase. The concept of financing or unnecessarily withdrawing money from investments seemed like a dumb idea for a luxury purchase.

As soon as I can confirm our flights for our March trip - I'll start looking on the DVC rental board and see if I can find points and a room for the nights we'll need. I have a "room only" reservation on hold at a hotel covering all our potential dates in case I can't get a DVC room when my plans are firm. The room only reservation I have has an easy cancellation policy.

The strategy has made me happy - I'm still going to Disney as expected and I'll still purchase DVC - and I'm not being impatient about it.

 

[taaren]

This may help your timing. If you purchase points on a Disney Visa, you will have 6 months interest free if buying direct from Disney. There is a limit on how much of the purchase receives interest free. They were able to split mine into 2 $2500 payments (down payment and then one the next month) so that $5000 of the purchase was interest free.

I also got the interest-free financing, but we had the cash saved up specifically for that purchase so I paid it off anyways when I got home.

Here's an idea for you. Book a moderate/deluxe Disney resort, go on your trip in the Spring. When you are on that trip on the first day, go to the DVC presentation. I have seen on other threads people who said sometimes their guide moved them into a villa at their home resort using their first year's points while on the trip on which they bought and crediting the money they spent on that Disney hotel stay towards the purchase instead. Ask if this is possible, then do the 0% financing. If your trip is in May, then you use the 6 months, your 0% will be up in November ... just in time for your cash to be available to pay it off.

....
Nvm ... had read all but the last post, which was yours. Enjoy your trips and soon we'll be saying Welcome Home!

 

[joshua74133]

yeah me and the wife talked it over...
we are going to wait until we have the cash to put down on our DVC... we will try and see what disney will do for us at that time but if they wont let us then we will just have to wait and go at a later time.

 

[perfectparanoia]

If you are buying direct, even if there is no availability for your dates through member services, often your guide will make 'magic' happen if it means they will make the sale.

 

[Dean]

I'd rent for this spring and look to pay cash when you can. The overall price will be around the same by the time you consider maint fees, you won't be stressing to get closed and then hope there is availability and you will have reduced your risk without financing.

 

[joshua74133]

how many years does disney let you finance just so i know

 

[taaren]

Its a 10 year amortized loan, just like a mini-mortgage. At least that's what they offered me then put in the paperwork before I got home and wrote the check for that amount.

 

[nukker7]

I agree with perfectparanoia, You WILL get a reservation booked if you buy direct and you are a new owner. I was told by my guide that he could get me in anywhere, anytime if I would only make the reservation at least 2 weeks out. This was about a month away from Halloween and he found me a studio at BWV (boardwalk view) 4 weeks out the weekend before Halloween. I have heard this is a very booked time because of the food and wine festival and the Boo to You Parade.

That being said, always make sure the payments fit into the budget.

Also, you get to claim the interest on your next year taxes.

Good Luck!