SSR points

[jenharring]

the ssr points ava. for $70 or less, is that threw disney or resale? We are looking at buying in to dvc. How does the resale work? How does the financing part of it work? We know our credit is not that great, b/c we were part of the economy fall, but have since recovered. We dont want to pay more than $350 a month including all dues.

 

[ELKHUNTER]

The SSR prices you are referring to would be through resale, Disney is selling SSR points for around 104. Contact the Time Share Store who sponsors this board or go to their site dvc-resales.com to look through the inventory. They will list every DVC at Disney and the site will explain closing cost etc. We used them, good people to deal with.

Good luck

 

[jenharring]

ok so should I buy my first 160 from disney and then add on with resale. Is that about the best thing to do?

 

[logan115]

ok so should I buy my first 160 from disney and then add on with resale. Is that about the best thing to do?

NO

Buy your first chunk resale (nice thing about resale is you don't necessarily have to buy 160).

I recently bought 160 pts at SSR resale and paid under $70, direct even with all of the incentives it would've cost $91.

There are TONS of SSR resale contracts out there, will most certainly be something that fits what you're looking for. In terms of adding on, going Direct may be a good option if you're looking to add-on 25 or even 50 points or so as those contracts seem to go pretty quick, but anything more than that you'll save a ton going resale on your add-on as well.

Chris

 

[jenharring]

ok thanks so much as it looks witht he times of year we will be going we will need around 290 for a 2br wk in may and 75 for 5 nights in a studio and possible 115 for 4 nights in sept. So I sould find something around 300 for resale and then later get the 75 at disney. What kind of down payment do we need and what about the payments. How good does your credit need to be with resale. Our credit was shot last year when the lovely economy killed us. I had a baby last aug and then when i was to come back to work they dropped me to prn and I'm now back full time and my husband is getting a bigger disablity check with the navy, more than doubled.
so instead of making a packing every year i figure it would save us in the long run to just get annual passes and stay with our points. We would end up eating in the room more with a full kitchen and so much nicer to wash clothes in the room.

Now to talk to my husband about all this and have him understand it all. He just wants to be able to stay at disney and go home. He doesnt want to deal with the payments, but we are already paying the payments with our package. We dont put it on a credit card. We like to have the Dxddp and hopper and possible water pass. So all in all it adds up and we make payments until the 45 days prior.

 

[thelionqueen]

What kind of down payment do we need and what about the payments. How good does your credit need to be with resale.

Unfortunately, there is no financing available through the resale market with the acception of TAMMAC financial. We looked into them a few years back, have decent credit, and could not get financed at any rate. I was told that now with the economy and the inability to get credit, their terms are even more tight.

We did get financed through Disney with no problem, although at the higher interest rate (14.5%). We are making triple payments and will have it paid off within 3 years so the interest rate didn't scare us. We are in no financial capacity to buy the amount of points we need in cash, so financing was the only option for us. And financing through Disney was the best fit. Good luck on whatever you decide!

 

[jenharring]

oh wow, well i guess we will be going threw disney for now then. I guess we will get the 280 to 300 we need and later after saving up some money or during tax season each year buy 25 to 50 in cash. Thanks for that bit of info. I dont want my credit ran if there is not a chance. We will be going in april and we are renting points as of right now for ssr or bc and we will do a tour while there and then buy in. We will have a nice down payment by then with savings and income taxes. Unless we can do it by thanksgiving and we might go for 4 days right before thanksgiving and do it then.
thanks for the help.

How many points do you have?

 

[logan115]

oh wow, well i guess we will be going threw disney for now then. I guess we will get the 280 to 300 we need and later after saving up some money or during tax season each year buy 25 to 50 in cash. Thanks for that bit of info. I dont want my credit ran if there is not a chance. We will be going in april and we are renting points as of right now for ssr or bc and we will do a tour while there and then buy in. We will have a nice down payment by then with savings and income taxes. Unless we can do it by thanksgiving and we might go for 4 days right before thanksgiving and do it then.
thanks for the help.

How many points do you have?

If you're going to be buying 300 pts at SSR you owe yourself at least a a little digging around to see if you can get financing outside of just thru Disney. A $25 difference between what you could get resale vs Disney is $7500 !!!!! Even if it you have a higher interest rate thru someline like Tammac it will be cheaper.

For example :

300 pts @ $70 and a 20% scared1 interest rate gives you payments of $406/month ($27,700 in total interest paid over the course of the loan). Total cost of $48,720.

300 pts @ $91 (direct thru Disney) @ 15% is a $440 monthly payment, and $25,553 in interest. Total cost of $52,800.

Good luck with your decision,

Chris

 

[jenharring]

If you're going to be buying 300 pts at SSR you owe yourself at least a a little digging around to see if you can get financing outside of just thru Disney. A $25 difference between what you could get resale vs Disney is $7500 !!!!! Even if it you have a higher interest rate thru someline like Tammac it will be cheaper.

For example :

300 pts @ $70 and a 20% scared1 interest rate gives you payments of $406/month ($27,700 in total interest paid over the course of the loan). Total cost of $48,720.

300 pts @ $91 (direct thru Disney) @ 15% is a $440 monthly payment, and $25,553 in interest. Total cost of $52,800.

Good luck with your decision,

Chris

I just spoke with someone from the resale office and you must have a becan score of 700 plus and we dont have that. we might not have a choice but to buy thew disney. We are going to start off with only 160 to 200 point and just add on a few each year threw resale- what we can pay for in cash during tax time.

 

[Sandisw]

If you're going to be buying 300 pts at SSR you owe yourself at least a a little digging around to see if you can get financing outside of just thru Disney. A $25 difference between what you could get resale vs Disney is $7500 !!!!! Even if it you have a higher interest rate thru someline like Tammac it will be cheaper.

For example :

300 pts @ $70 and a 20% scared1 interest rate gives you payments of $406/month ($27,700 in total interest paid over the course of the loan). Total cost of $48,720.

300 pts @ $91 (direct thru Disney) @ 15% is a $440 monthly payment, and $25,553 in interest. Total cost of $52,800.

Good luck with your decision,

Chris

Great point and I believe that Tammac is only 10.99% right now (though that could be for better credit).

The only point I would add is that the Disney financing does not show up on a credit report and I have been told it doesn't even show up as a hit (not sure how true this is). The loan through Disney is considered a mortgage and might be tax deductible. And, you have to finance, like $30,000 to $40,000 to get the 10 year term at Tammac where as at Disney, it can be for the minimum amount.

If the credit thing is a big concern, even though it is more to go through Disney, it is something to be aware of.

 

[logan115]

I just spoke with someone from the resale office and you must have a becan score of 700 plus and we dont have that. we might not have a choice but to buy thew disney. We are going to start off with only 160 to 200 point and just add on a few each year threw resale- what we can pay for in cash during tax time.

Gotcha - just didn't want to see you pay more than you had to, but understand your situation.

Here's an early "Welcome Home.............."

Chris

 

[jenharring]

thanks, would would pay extra each month or year that way we can get it paid off early and then buy more once those are paid off too. thanks so much