So I was freaking out cause my DVC loan payment didn't come out this month

[patsal]

...I called Member Services and they told me my loan was all paid off! Woo hoo, I remember trying to accelearte it, but then as usual life kinda happened and I just paid the set amount. I thought I would be paid up in November, but nope it was all paid in May!

I'm pretty excited

 

[limace]

What an awesome surprise! Congratulations!

 

[BeesKnees]

I had that happen on a car once. They had to send me a check back.

Now you have to figure out what do to with those 6 months worth of payments you now do not have to spend. I can provide you with my paypal account if the burden of having that extra money becomes too great.

Congrats.

 

[disneypoor]

Congratulations! We are just getting started. Like you, I want to accelerate the payments so we have it paid off much sooner than what it is set up for. My payment also is coming out of my checking account. How do I go about paying extra? Can I just go to the site and pay towards principal? Sorry to hijack your thread, but I thought you might know. Again, congrats! I bet you're feeling pretty awesome today!

Susan

 

[patsal]

Congratulations! We are just getting started. Like you, I want to accelerate the payments so we have it paid off much sooner than what it is set up for. My payment also is coming out of my checking account. How do I go about paying extra? Can I just go to the site and pay towards principal? Sorry to hijack your thread, but I thought you might know. Again, congrats! I bet you're feeling pretty awesome today!

Susan

I just mailed additional payments to them and indicated I wanted the money to put against the principal balance.

And no worries, the children in my life are getting older and so are their expenses, so it is certainly already accounted for, but thanks for the thoughtful offer BeesKnees

 

[bobbiwoz]

What a great surprise for you!

 

[ChiSoxKeith]

Congratulations!

 

[z28wiz]

You can also use your credit card to pay online.

 

[Desnik]

Now that is a great surprise!!!
congrats to you!!,

 

[Checkers]

WooHoo! Congratulations!!

 

[ssawka]

Congratulations! Now it is time to start thinking about add-ons!

 

[patsal]

Congratulations! Now it is time to start thinking about add-ons!

Lol, that is what DD 16 said! I smiled thinking that I would be lucky to get 2 more trips with her before she found it would be time for her to be moving along! Who knows maybe I'll get a little pixie dust and unlike her older brother she will still want to join us!

 

[jstarcze]

Congratulations! Now it is time to start thinking about add-ons!

Why wait? I chose to add-on (paid in full) rather than using the money to pay off my Disney loan. Maybe not the best of financial decisions, but I'm always staying in 1BR's now rather than sometimes in studios.

To the Original Post: Congratulations!

 

[bumbershoot]

Congratulations! Fun surprise.

How do I go about paying extra? Can I just go to the site and pay towards principal?

Yep, there's a spot for it and everything. Payments need to be $10 or more, and you have to do it when your monthly payment isn't pending (the site will be obvious about that), but other than that, it's just right there in your loan info.

 

[jdubs808]

Wow! Congratulations!

 

[ssawka]

Why wait? I chose to add-on (paid in full) rather than using the money to pay off my Disney loan. Maybe not the best of financial decisions, but I'm always staying in 1BR's now rather than sometimes in studios.

We've been paid off for over a year now and are considering adding on Hilton Head, but need to see the resort first. As for adding on before being paid off, I don't think there's a problem there. Fortunately we knew we wanted a 1 BR and bought enough points to begin with. I'm really glad we did and that we financed given how quickly the price of BLT went up after we bought.

 

[jstarcze]

We've been paid off for over a year now and are considering adding on Hilton Head, but need to see the resort first. As for adding on before being paid off, I don't think there's a problem there. Fortunately we knew we wanted a 1 BR and bought enough points to begin with. I'm really glad we did and that we financed given how quickly the price of BLT went up after we bought.

Agreed!

 

[patsal]

Exactly on the add-ons and buying enough points, we bought with 2 weeks in a 1br in mind, but still have already done 2 add ons-- beach club--which I should sell, becasue we never stay there--I had a really bad experience and it soured me, and AKV so we could enjoy short trips CL. Maybe I should see if I could flip my BCV and buy more AKV!

 

[BeesKnees]

I just mailed additional payments to them and indicated I wanted the money to put against the principal balance.

In the past when we financed things we always tried to make sure our monthly payments were 2/3s of what we could comfortably afford at least 9 months of the year and send even more principle payments when it was available. This way we were always able to pay things off early and it worked well. That helped us eventually get to the point where more often than not we just buy things outright. Well that and trying to pay off CCs each month.