Thinking of buying DVC

[orangetiggs]

We ar thinking of buying DVC points and using thier finance, does anyone know what is needed/ what they do for this option?

Is it like here where we will be credit check etc?

 

[BevS97]

We ar thinking of buying DVC points and using thier finance, does anyone know what is needed/ what they do for this option?

Is it like here where we will be credit check etc?

you actually finance through a UK bank - I think it's GE Money but as we didn't finance I'm not 100% sure. I assume since it's a UK Bank, you will go through standard UK Credit checks.

I would compare the rate with other bank loans, you might be better off financing it yourself. (you might not, but I definitely check)

 

[orangetiggs]

Thanks Bev.

Does anyone know that has financed through disney?

We are just looking into all the options right now and what all info to make our decision

 

[BevS97]

I found this thread which confirms it is GE Money.
http://www.disboards.com/showthread.php?p=17810217

 

[wilma-bride]

Actually, you have 2 options. If you take Disney's financing, there is no credit check (but you do have to put a certain amount down - think it's 10%). Not sure what the interest rate is though.

As Bev said, the other option is financing through GE Money Ltd. One thing you need to bear in mind is that it is not like a normal loan where your payments stay static throughout - we only bought in February and our payments with GE have already gone up once. Fortunately, we will be paying off the loan in a couple of months but we weren't advised (although it was probably in the small print) that our payments would likely change.

 

[jen_uk]

we just bought it today on finance, its not thru GE bank tho, because we signed up over here and we put down a 30% deposit it was thru someone else.

 

[wilma-bride]

we just bought it today on finance, its not thru GE bank tho, because we signed up over here and we put down a 30% deposit it was thru someone else.

Wow Jen, have you bought DVC? Congratulations Where did you buy? Will we be neighbours?

 

[jen_uk]

We bought into SSR, yay!

 

[razster]

congrats jen,

i would love to know more about your purchase if you are happy to share. What kind of interest rate did you get, is it actually through disney did you get any incentives?in fact anything you can tell me about the entire experience i would love to hear, why the resort you chose etc etc i think i'm nearly there with DH but he is a businessman he likes numbers, he sees this as a bit of a risk (don't ask me) and he is getting a "good return on current investments" so he will only tie up 10-20% on this. but reading this ge capital sounds like a variable rate loan is the loan you have variable or fixed? i am convinced i can get him to agree by our trip in september.

so sorry for all the questions so excited about doing this hope you can give me some info.

thanks

raz