Who else financed and is happy with the decision?

[jodifla]

So, to hear a couple of folks on the operations board, I'm heading to the poorhouse because I had the audacity to FINANCE my DVC....

Well we did, it's all paid off for years now, and we paid way less than we would have if we'd kept taking Disney vacations and paid the hotel rates. We're delighted with our decision to buy in when the points were in the $62 range.

Anyone else?

 

[Pluto 2]

im really happy got my first loan paid off the price went down in november to 83.30 financed more points. and when i get my house paid off in 4 years you know what that means yes more points. i will like to get up to 500

 

[JVL1018]

We financed, we did pay it off in less than a year..but even if we hadn't I wouldn't be fretting about it.

 

[BuzzandWoody]

Interest? Yes we have paid interest.
Next year it's paid in full. Fianced for 7 years. Points were in the 60's. If we figure what we would have paid for the last 6 years, and that's 6 years that we would not have been able to afford. It probaly equals price per point today. We have enough points for now and have avoided addonitis.
There is no way I would pay close to 100 per point, but if we did it would be close to what we paid the last 6 years.
So maybe we did pay close to 100 per point. But with points at VWL we would be able to sell for current rate and break even with financing over the years.

When I win the lottery we'll pay it off and maybe buy more points.
Disney finances and people pay interest. It's the american way.
We have no regrets financing

 

[tmt martins]

I Just DID and still think it's saving more then if I continued to go on Vacation and save to pay in full.

My breakeven point is just extened a bit but I would just be spending the money anyhow .I work hard and look forward to my vacations and you can't beat the price.

 

[2giddy4wdw]

We financed our points, and we would do it again in a heart beat. Our very first trip "home" there were 8 of us. Me, DH, DS, DD, DDbestfriend, DMIL, DFIL, and DSIL. We got a 2bedroom at SSR and had the time of our lives. My inlaws had never been there. Our second trip we got another 2 bedroom in hopes that someone would join us. DS was off to college so DD brought her friend again. Well no one joined us. So this year we are getting another 2 bedroom and we are letting DD bring 3 friends. This was one of the best decision that we have made!!!!

 

[TEK224]

I financed last year for 10 years (hope to have it paid off a lot sooner, though). If I hadn't financed, I would not have been able to buy in.
In 2004 I spent 4 nights at WL Concierge with a total cost of almost $2000. I had planned to stay at the Poly for 6 nights in Jan. 06 that would have cost almost another $2000. Instead, I visited in Aug. 05 during free dining promo and bought in at SSR. Saved me the 2K in Jan. 06.

Now I have a 2BR in Oct. reserved and I'm reserving another 2BR in Jan. I would not have been able to afford those rooms w/o my DVC points. The bill will get paid, but in the maintimie I'll have enjoyed many visits to WDW.

Terri

 

[bounceliketigger]

So, to hear a couple of folks on the operations board, I'm heading to the poorhouse because I had the audacity to FINANCE my DVC....

Well we did, it's all paid off for years now, and we paid way less than we would have if we'd kept taking Disney vacations and paid the hotel rates. We're delighted with our decision to buy in when the points were in the $62 range.

Anyone else?

Back when we came on the boards to learn more, there were alot of negative comments about financing. One positive sticks out in my mind: if we save what we can for vacation, about $200/ mo., that's only $2400 / yr. You can barely get a week at a moderate for that. We're paying $190/ mo. (+dues of course) and we've been on 13 nights/ 16 days worth of vacations since Feb. '05 and have another 5 nights planned in Dec.--one in a 2br w/ family & friends & the others in places we could not have afforded to stay otherwise.

So, if you are fortunate enough to be loaded or if you grew up in a time when "cash was king", I say kudos to you for not financing. If you are like the rest of us, I say don't think twice about it. If you're not jeopardizing your family's financial security then go for it and don't feel guilty. Your family will make more memories with DVC than with 0% interest.

 

[MAO]

I distinctly remember having enough money to pay when I signed up but deliberately financed half of it for a year. I don't remember my reasoning -- looking at the paperwork now, I may have thought I was making more in interest keeping my money in my savings account(s) but am not so sure now. I do see that I paid my house mortgage off a couple of months after I bought DVC so I may have been thinking that I needed that cash available for emergencies. Whatever the reason, it worked out wonderfully for me.

 

[MonkeyPants]

it was your decision and you had your reasons for doing it, the *bleep* with what others thought

I just bought, but am not financing, but dont see anything wrong with it, unless its at some insane rate...but even that is something each person would have decide for themselves, what might be insane for me may well be perfectly acceptable to someone else.

 

[patsal]

I financed and don't regret it--the interest wasn't that high and it let me make payments that I could afford rather than deplete a savings account. Sure I could have paid cash, but then the accessable savings would have been gone.

 

[DiznEeyore]

So, to hear a couple of folks on the operations board, I'm heading to the poorhouse because I had the audacity to FINANCE my DVC....

Well we did, it's all paid off for years now, and we paid way less than we would have if we'd kept taking Disney vacations and paid the hotel rates. We're delighted with our decision to buy in when the points were in the $62 range.

Anyone else?

Yup. We bought in at $72 a point and (*gasp*) financed it. Paid it off early, but even if we hadn't, we still would've spent more paying cash for our yearly trips.

I get so tired of those threads where people tell others under what financial conditions they should be *allowed* to buy DVC.

 

[DisneyBill]

Yup. We bought in at $72 a point and (*gasp*) financed it. Paid it off early, but even if we hadn't, we still would've spent more paying cash for our yearly trips.

I get so tired of those threads where people tell others under what financial conditions they should be *allowed* to buy DVC.

Just a tad off the OP topic, but I remember when the price went into the $70's and I thought holy cow! Now, that $72 looks like a fire sale!

 

[married@wdw]

One of the best things we ever did was buy DVC -- we were just married and were CMs so the deal was too good to pass up! We used wedding gifts to pay half and financed half. We just paid it off last year, but we've had SOOO many great vacations with friends and family -- not to mention some wonderful anniversary trips! -- that we never would have afforded otherwise.

I'm sure people will say we should have saved and bought when "we could afford it" but I got to take my father on his last trip to Disney and no amount of saved interest money could ever be worth more than those memories!

 

[JodyTG]

We financed and don't regret it for a moment. We're going to go on vacation anyway, so instead of paying for the room with nothing to show for it later, we're paying off our DVC membership and staying at DVC hotels.

 

[DisneyFreaks]

We financed 50% and paid 50% upfront. Our adult children and their families always come along on our trips so buying into DVC is alot more economical than getting that many rooms at the regular resorts. We've had people tell us we're crazy buying a vacation like this but my DH says he bought it for our grandson and any future grandchildren.

 

[nzdisneymom]

We financed and our first payment is due in two weeks. Our plan is to pay it off early, just as we did with our house mortgage (we paid our house off in January and bought into DVC in late March - just before the $ went up).

 

[cobbler]

We financed and will have it paid off in 2.5 years.

I did the math. We bought at $83.30 per point so our total cost is $18326. I also did an amoritization calculation and we will pay $1750 in interest in that 2.5 years, making our grand total $20076. This was back in late October.

If I would have saved the $$ to buy outright (which I was going to do before I did the math because I sooo didn't want to finance DVC). At today's prices the $101-8 (because I wouldn't want to sell last years points back) I would be paying $20460 today. So even with the interest I will pay, not only am I ahead $384 from NOT waiting, but I also get to enjoy 3-4 vacations out of it

 

[cslittle999]

We financed. We could have cashed in some investments but with the low interest rates it didn't make sense for us.

 

[IBELIEVE2]

I guess technically we financed but we are paying 0% interest. We received a promotion from Discover for balance transfers 0% interest until balance is paid, so we charged our DVC purchase on one credit card and then transferred the balance to the no interest Discover card. It will be paid off in a year anyway. This is the best of both worlds!!!!