DVC RESALES
DVC RESALES

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Old 04-02-2013, 09:09 PM   #1
pauly's girl
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Financing DVC through Disney

I was wondering if anyone who has bought direct through Disney can tell me how their financing works. Is it like most timeshare resorts where they in house finance or is it an actual credit application and approval process?? Also I have browsed the boards and I have seen several cases where people were able to buy in at less than the 100 pts. How insistent do you need to be to buy less?? TIA -
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Old 04-02-2013, 09:24 PM   #2
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Originally Posted by pauly's girl
I was wondering if anyone who has bought direct through Disney can tell me how their financing works. Is it like most timeshare resorts where they in house finance or is it an actual credit application and approval process?? Also I have browsed the boards and I have seen several cases where people were able to buy in at less than the 100 pts. How insistent do you need to be to buy less?? TIA -
You don't need to be all that insistent as they do work with you. My wife and I were able to buy in with VB at 50 points to build our credit with DVC up.
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Old 04-02-2013, 09:36 PM   #3
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ok great....if you are building your credit, can I assume it is an approval process??
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Old 04-02-2013, 09:39 PM   #4
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ok great....if you are building your credit, can I assume it is an approval process??
Almost everybody gets approved, unless you've defaulted on Disney before. It's little risk for Disney because if you default then they'll just foreclose on your contract, keep whatever money you've paid them and then turn around and sell it to the next buyer, often for a higher price. It happens more than you'd like to think. They'll run your credit scores and assign you an interest rate based on that. The worse your credit, the higher the interest rate. If you do decide to go this route, make sure you crunch the numbers including the interest costs. You might be surprised by what you find, and not in a good way. Good luck.
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Old 04-02-2013, 09:55 PM   #5
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Almost everybody gets approved, unless you've defaulted on Disney before. It's little risk for Disney because if you default then they'll just foreclose on your contract, keep whatever money you've paid them and then turn around and sell it to the next buyer, often for a higher price. It happens more than you'd like to think. They'll run your credit scores and assign you an interest rate based on that. The worse your credit, the higher the interest rate. If you do decide to go this route, make sure you crunch the numbers including the interest costs. You might be surprised by what you find, and not in a good way. Good luck.
Awesome thanks for the advice! I would love to buy resale (it seems to be the way to go) but it would take several years of saving to be able to pay cash. We have been going to Disney for 10 years and really could have had it paid for already... Oh well! My kids are getting older and we don't want to miss these last years being kids, trying to save! Besides I would like to have something to give them as they are Disney Maniacs like my hubby and myself!!
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Old 04-02-2013, 10:32 PM   #6
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Awesome thanks for the advice! I would love to buy resale (it seems to be the way to go) but it would take several years of saving to be able to pay cash. We have been going to Disney for 10 years and really could have had it paid for already... Oh well! My kids are getting older and we don't want to miss these last years being kids, trying to save! Besides I would like to have something to give them as they are Disney Maniacs like my hubby and myself!!
One thing to consider is renting DVC points from a broker or someone here on the DIS. Yes, it's a little less convenient, but it allows you to stay in DVC resorts right now for less cost than rack rates and without having to lay out a big bundle of cash. With regards to the statement in bold, I assume you're referring to an inheritance? While a lovely idea, what you are really giving them is a huge annual bill for maintenance fees. This might not turn out to be the gift that you had intended. Without knowing the specific details of your situation or your intended purchase, I would say that you could safely rent DVC points for the next 15-20 years and still come out ahead against purchasing today and financing. It's definitely worth thinking about.
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Old 04-03-2013, 08:25 AM   #7
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We were in the same position back in 2009..continue to pay cash prices or buy...at the time, we decided to buy a small resale contract we had the cash for and then just add on through Disney for a smaller contract.

At the time, the difference in resale vs direct was reasonable and made the decision to go through Disney easier. Even with financing, we realized we could own DVC for no more than we were currently paying to stay at the CR with a 30% discount. So we bought...we did end up not needing to finance because we used our Disney visa to get 6 months, no interest on the repurchase....

Now, with direct prices being so much higher than resale, I do think it makes this strategy a lot more costly, but we had decided then that giving up trips was not an option and as long as our yearly expenses werent more for DVC then those cash stays, then in the long run, it'd be worth it.

Good luck!
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Old 04-05-2013, 09:27 PM   #8
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I haven't read this whole post, but you can fjnance a resale purchase! We bought 160 SSR points through Fidelity and financed through Timesharelending.com. The approval process was kind of a headache but we got it done.

Also, we bought a purchase with a ton of banked points that we rented out for almost $3,000. We turned around and paid off a huge portion of our loan and now well be paid of by the end of this year. Well have it done in 18 months as compared the 5 years the term of the loan is for. Doing it this way we got resale prices AND only paid about $1500 in interest. Definitely something to think about!

Feel free to send me a PM if you want more specifics
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Old 04-05-2013, 11:05 PM   #9
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I haven't read this whole post, but you can fjnance a resale purchase! We bought 160 SSR points through Fidelity and financed through Timesharelending.com. The approval process was kind of a headache but we got it done.

Also, we bought a purchase with a ton of banked points that we rented out for almost $3,000. We turned around and paid off a huge portion of our loan and now well be paid of by the end of this year. Well have it done in 18 months as compared the 5 years the term of the loan is for. Doing it this way we got resale prices AND only paid about $1500 in interest. Definitely something to think about!

Feel free to send me a PM if you want more specifics
This is a very good point. I think we could all benefit from learning a little more about financing resale, so whatever information you can share (without getting into specifics) would be helpful and appreciated.
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Old 04-06-2013, 04:04 AM   #10
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This is a very good point. I think we could all benefit from learning a little more about financing resale, so whatever information you can share (without getting into specifics) would be helpful and appreciated.
We needed just a couple thousand for our purchase, and I just took out a signature loan from my credit union. We don't have any other debt but our house so we'll have this paid off in just a few months and the rate was better than any of the timeshare financing options I've heard of with the possible exception of a home equity loan.

I wasn't too keen on borrowing anything for a timeshare purchase, but I "got the fever" and decided to go ahead and buy about 4-5 months before I had enough saved. It wasn't a big loan though so it didn't bother me too bad.

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