Creative Ways to Finance DVC

[ARobyn]

Resale owner, considering buying direct with the current incentives going on.
If I finance directly through Disney just to close the sale, can I pay off the loan the following month with a no interest credit card? The plan is to pay it in full within the year, but there are a few no interest credit cards out there for 15+ months so wondering if anyone has been successful in doing something like this?
Any other creative ways to not pay too much interest that I'm not considering? Would love to ideally pay in cash, but that's just not realistic since we just paid cash for our resale contract but I don't want to pass up the great incentives they're currently running. I'm a big credit card points person so ideally would love to get some value out of the purchase but my bigger concern is paying the least amount of interest charges.

 

[davidhr]

Yes, you can pay the loan at any moment with a credit card. But if you're paying it in a month, it's better to just make the purchase with the credit card since the beginning.

You can also get the loan and pay it aggressively in a year or two and you won't pay that much interest (pay 50% of it as quick as possible), but the 0% APR credit card is still the best way to do it if possible. I've done it that way before even having the cash.

 

[pianomanzano]

I did something similar for my direct add-on. I opened up a southwest card when they had a promo of bonus points towards a companion pass. Charged the direct add-on purchase to the southwest card and then immediately transferred that balance (had to pay a 3% balance fee) to a card that had a 0% apr for balance transfers for 20 months. 3% was hefty but it was worth it for the companion pass, so far I've earned about 13 free flights (and counting) from both the points and the companion pass!

 

[Sandisw]

You can also ask DVD to spread out the charges to your card up to 90 days, instead of doing the loan. I did that when buying VGF in 2022. Paid my 10% deposit March 2nd....had them bill part of the balanced then on April, May, and June 1sts...

 

[ARobyn]

You can also ask DVD to spread out the charges to your card up to 90 days, instead of doing the loan. I did that when buying VGF in 2022. Paid my 10% deposit March 2nd....had them bill part of the balanced then on April, May, and June 1sts...

Yes, I'm thinking I may forego the loan altogether. Put my down payment on Disney Visa for 6/mo no interest, and split the remaining over 3 payments. Thx!

 

[ARobyn]

Yes, you can pay the loan at any moment with a credit card. But if you're paying it in a month, it's better to just make the purchase with the credit card since the beginning.

You can also get the loan and pay it aggressively in a year or two and you won't pay that much interest (pay 50% of it as quick as possible), but the 0% APR credit card is still the best way to do it if possible. I've done it that way before even having the cash.

I looked at an amortization schedule, even just 2-3 months of a loan with 8.99% would cost me a few hundred (yikes) so I'm definitely going straight to the CC. I was thinking doing the loan for a few months just to seamlessly close the contract / get my points fast and pay it off with the CC but seems like that's unnecessary.

 

[accm]

I looked at an amortization schedule, even just 2-3 months of a loan with 8.99% would cost me a few hundred (yikes) so I'm definitely going straight to the CC. I was thinking doing the loan for a few months just to seamlessly close the contract / get my points fast and pay it off with the CC but seems like that's unnecessary.

We purchased our direct contract using a CC and had the payment divided over 3 months I believe. We still got our points immediately and were able to use them before our contract had even closed.

 

[rspencer38]

I looked at an amortization schedule, even just 2-3 months of a loan with 8.99% would cost me a few hundred (yikes) so I'm definitely going straight to the CC. I was thinking doing the loan for a few months just to seamlessly close the contract / get my points fast and pay it off with the CC but seems like that's unnecessary.

Ya it doesn't take much to tack on a few hundred in interest. For me, I would need to see if there is any reason why I would be willing to pay a few extra hundred (ie. bonus points or credit card bonus etc..). However, if most cases its better to straight-up pay for it on a CC or even break it up in small portions as mentioned above.

 

[E2ME2]

Resale owner, considering buying direct with the current incentives going on.
If I finance directly through Disney just to close the sale, can I pay off the loan the following month with a no interest credit card? The plan is to pay it in full within the year, but there are a few no interest credit cards out there for 15+ months so wondering if anyone has been successful in doing something like this?
Any other creative ways to not pay too much interest that I'm not considering? Would love to ideally pay in cash, but that's just not realistic since we just paid cash for our resale contract but I don't want to pass up the great incentives they're currently running. I'm a big credit card points person so ideally would love to get some value out of the purchase but my bigger concern is paying the least amount of interest charges.

I added on back in Feb of this year, and the Disney Visa CC was offering 6-Months with 0% Interest,
This was a double bonus, as I also get the Disney Rewards Points.

 

[cruisehopeful]

Have you called all of your credit cards and asked for special financing for a large purchase? I did that and was able to buy the whole contract that I wanted by spreading it out over 3 credit cards, 2 of which gave me a year of 0% financing.

 

[BruinEd03]

Yes, I'm thinking I may forego the loan altogether. Put my down payment on Disney Visa for 6/mo no interest, and split the remaining over 3 payments. Thx!

I would actually reverse that. I would pay the down payment first (10% minimum). Then split the rest out over 3 months with the largest and final payment being on the Disney Visa. In that way, you actually get 9 months to pay it off (3 months of spreading out payment and 6 months for the last, but largest payment). Remember, online banks are paying 4% interest, so it's beneficial to stick the cash in the bank as long as possible right now.

 

[seanwill]

When we bought there was a "pay over time" promotion on my amex card with no fee no interest so I put it all on there

 

[Sunnyore]

Do you have any chase cc? I paid for my VDH using my Chase Sapphire Reserve cc to get the 3% travel points and then used the Chase Plan it option which gives me 24 months to pay it off interest free. Since it’s my first plan there is no plan fee either. Otherwise the fees seems to even out with interest rates.

 

[Bearval]

I looked at an amortization schedule, even just 2-3 months of a loan with 8.99% would cost me a few hundred (yikes) so I'm definitely going straight to the CC. I was thinking doing the loan for a few months just to seamlessly close the contract / get my points fast and pay it off with the CC but seems like that's unnecessary.

I think you may have to do the initial purchase with a credit card for the 0% interest. I am pretty sure if you use your credit card to pay off a loan it will be considered a cash advance and you would have to immediately pay that cash advance fee which is typically 5%.

 

[davidhr]

I think you may have to do the initial purchase with a credit card for the 0% interest. I am pretty sure if you use your credit card to pay off a loan it will be considered a cash advance and you would have to immediately pay that cash advance fee which is typically 5%.

You can pay Disney loans with a credit card without triggering a cash advance.

 

[Moneypenny]

Do you have any chase cc? I paid for my VDH using my Chase Sapphire Reserve cc to get the 3% travel points and then used the Chase Plan it option which gives me 24 months to pay it off interest free. Since it’s my first plan there is no plan fee either. Otherwise the fees seems to even out with interest rates.

Oh, so the DVC purchase coded as travel on your Chase Sapphire. Good to know!

 

[floribr1]

You can pay Disney loans with a credit card without triggering a cash advance.

Agreed - I have done this several times in the past.

 

[ARobyn]

Do you have any chase cc? I paid for my VDH using my Chase Sapphire Reserve cc to get the 3% travel points and then used the Chase Plan it option which gives me 24 months to pay it off interest free. Since it’s my first plan there is no plan fee either. Otherwise the fees seems to even out with interest rates.

I do, and I've never used the "plan it" feature. I looked into it, and there are fees so you may have lucked out with the first plan having no fees option!

 

[Unclelude]

We were able to time it with opening 2x chase sapphire cards - one for me and one for wife ... they had some promo with referral that amounted to 200k bonus points ( 2k cash back, more if you use for airfare etc...) plus another 3x or whatever is for travel category.

I know you were saying 15 months no interest ... if I recall correctly, we got all those bonus points and still had 12 months no interest.. even if it wasn't no interest, since you are spending so much, you could put just the required minimum to get the bonus...

Good luck!

 

[bravo2zero]

I do, and I've never used the "plan it" feature. I looked into it, and there are fees so you may have lucked out with the first plan having no fees option!

Almost all Chase cards have first Plan It free with no fees and no interest until 6/30. You can see if you're eligible by clicking on a purchase over $100 where it says Plan It and it will show you if there is a fee. I was able to use a Chase cc for 24 months no interest, no fees this month.