What is your experience with...

[WDWalways]

Down Payments --- can you give as little as 10% or is it normally 20% no matter what?? I know some people have been asked to give as much as 30% due to problems with getting their financing but I want to know if you guys put 20% on your own or did Disney request 20% automatically and can you give just 10%??

Thanks!!

 

[Maistre Gracey]

Disney only asked for 10%, however there were different financing plans available with higher percentage down payments.

 

[DeeP]

I only had to give a $500.00 deposit when I first told my DVC guide I was ready and to send me the papers. I did not finance my membership and this was years ago, so I do not know if that makes a difference or not. But once I had signed on the Mickey heads and dated all my palm trees I sent the papers back with my check (which I think had to be a cashiers check or certified but I am not sure), and within 3 weeks it was a done deal. We took our first DVC trip a few months later and have not regretted it a single moment since!

 

[BillPA]

We sent a check also, but it was just a regular check. I guess they didn't have to worry, if the check didn't clear, then closing would not have happened. Wish I was "smart" enough to have paid by credit card, that would have been half way to a free plane ticket. Oh well, next time.

 

[wdwnut]

hi: i think we did 20% down on the first contract to lower the monthly payments and then $500 down on the second contract. we just paid the second contract with a personal check.

 

[eva]

We just bought an add-on in May and were told that they no longer are doing just $500 down. Even if you use MB they are now requiring at least 10% down in cash. So we had to put $750 down in cash on 100 points. Then we used the $10 buy back for the first year at VB. That made the down payment over 20% down. With a $500 cash payment we would have still made it 20%, but the new rule we were told is that at least 10% must be paid in cash or credit card. So if you purchase 150 points you will need to put at least $1500 down in cash or credit card even if you use the $5 buy back.

 

[WDWalways]

Originally posted by eva
So if you purchase 150 points you will need to put at least $1500 down in cash or credit card even if you use the $5 buy back.

Actually the minimum of 150 points is $12000.00 so the 10% down payment would be $1200.00. (Thank God!! )

 

[eva]

You're right! I have to quit posting so early in the morning!