Tell me more about the down payment

[wrighter]

We're considering a purchase, and are wondering - When exactly do you make the down payment? Over the phone with your guide? How much is it? Is it a percentage of your total cost?

Any help on this is greatly appreciated. Thanks.

 

[Laneychris]

Hi we made the down payment when we decided to buy before they sent us the contract. Our down payment was 1,660.00 +/- for 160 points. Though on another thread someone said that you cold use the 8 per point offer as part of your down payment and pay much less. You will have to call Disney and ask them. We paid in full after we signed the contract, actually we paid half the first month on a credit card and then paid the other half the second month (we love our sky miles) that is why we wanted to use a credit card.

 

[wrighter]

Oooh! What a wonderful idea! This is why I love The Dis - I never would have thought to pay the balance of our contract on our credit card. We aren't financing, and we love our Membership Rewards!

Thanks for the heads up!

 

[Hunclemarco]

Generally 10% down.

 

[helenk]

I just purchased 160 points for the AKV, I paid my deposit of $500 on my credit card plus the $235 closing costs. I did this over the phone when I spoke to my guide.
That is all I had to put down.

 

[twinklebug]

I just purchased 160 points for the AKV, I paid my deposit of $500 on my credit card plus the $235 closing costs. I did this over the phone when I spoke to my guide.
That is all I had to put down.

If you choose to roll your closing costs into your financing, you'll only need to come up with the $500. For now, they no longer require a larger deposit for folk with lower credit scores, it's 10% for everyone (which can include the $8 per point incentive). However, there are a couple different rates going depending on your credit rating. I believe they're 10.9% & 14.9% neither is horribly good in my mind. I did finance, but have a pay-off schedule to have it paid off in 3 large chunks as I'm attempting to get free air miles/mypoints rewards also.