Someone... Anyone... HELP!!

[WDWalways]

I looked into DVC approx 4-5 years ago when the minimum was $9214.50 -- I didn't do it then for the main reason being I did not want to stay at OKW and/or BWV every single time I went to WDW NOT knowing that they were building more so it was a bad decision. Now that they have VWL and BCV and soon the Disney Institute will be available, I realized my mistake and looked into buying again but this time to try to right my wrong I looked into a resale -- well, I want to be honest and say that my credit is not that great -- used to be ALOT worse -- has gotten much better over the years (past 6 years or so actually) but even still I was declined for the financing. I now spoke to a DVC guide who is sending me everything and I have his name and number for when I receive all the info and am ready to buy BUT I'm afraid that even going through Disney directly I may not get approved. SOOOOOOOOOO my question is do you guys think Disney declines anyone?? Do they want to get the members and they will let you finance no problem?? Was it a big production financing with DVC?? I really want in!!! I'm hoping going through DVC directly rather than a resale will get me in -- any advice or testimonials would be greatly appreciated!!! I figure that if I don't make my payments (which I definitely will -- that's not a problem!!) they can always take away my points etc so Disney can not lose -- they take away my membership and someone else will certainly come along to purchase it.

 

[DownNeckBoy]

If you do a search on Disney financing, you will see many posts where peole with less than perfect credit were approved by Disney. The quid pro quo though, usually, is that you either have to put up more money or shorten the repayment term or both.

Good luck with your purchase and purchase MORE points than you think that you need. You'll be grateful for it later!

 

[TnRobin]

I too have seen quite a few post from people with "less than perfect" credit. They were approved by Disney. Often they were asked to put down a larger downpayment.

Keep in mind, DVC really doesn't have anything to lose. They own the financing and they control the use of your points. If you do not make your payments, they can take back those points and limit the access to any current reservations you have. It is a win/win situation for them.

Of course, they have the final say in who the approve and do not approve. Not knowing you situation completely, I say try it out. Maybe you could ask to talk to the financing people first and tell them your situation. Ask to see if they can pre-approve you. I never hurts to ask.

 

[Terry S]

My parents have had some credit problems in the past and were asked to put 30% down, they were then approved.

 

[robinb]

Disney financing is much better than the kind of financing that you get from companies that usually do resales. Between the better rates and paid closing costs, I think you're better off going with Disney anyway!

Good luck!

 

[PamOKW]

While it seems DVC is more lenient than a finance company or bank, there have been several instances lately like Terry mentioned. People were asked to put more down or other contingencies. Just something to keep in mind.