Payments if financing

[Nut4Disney]

We are looking into purchasing into the DVC sometime this week or next via resale. We are able to go about 3 times a year, and have been 13 times in the past 3 yrs. My wife's job requires her to travel during the week and she gets to keep her skymiles, so that makes it affordable. We are looking to buy 150 pts for around 10k. We are thinking about putting 5k down and financing the rest. Does anyone know how much monthly payments would be if we did this over 5 yrs, or even 10k over 5 yrs. I'm hoping someone did this and can tell me what their payments are a month. I know credit scores are involved too, and ours is excellent, if that helps in figuring this.

Thanks for any help.

 

[RickEff]

Hi there!

Loan payments obviously vary a lot and there's not a lot of information to go on. Typically (after checking online) it seems that home equity lines of credit range anywhere between 5.3 and 8%. Other loans and lines of credit can go as high as 11 or 12%

I put a range of interest rates here and figured it out per $1,000 so you can do the rest of the math. (this also assumes the interest rate is static)

5.5% - $10.853 / month
6.0% - $11.102 / month
6.5% - $11.355 / month
7.0% - $11.611 / month
7.5% - $11.870 / month
8.0% - $12.133 / month

Now - getting points at $66.66 each will be your next challenge! Good luck.

 

[Nut4Disney]

Thanks for your help. I did find a couple 150 pts for around $68 per point at Hilton Head on Timeshare store, for around 10k.

 

[Nut4Disney]

I've also read where people have used their Disney Visa cards to pay for it and get Disney points. I received a Disney Visa offer in the mail for 0% until Feb. 2007, so that is doable if I put 5k down and put the rest on the Visa. However, I've also read that they do not accept credit cards for payment but do accept credit card checks. How are people doing this then?

 

[Erika]

I've also read where people have used their Disney Visa cards to pay for it and get Disney points. I received a Disney Visa offer in the mail for 0% until Feb. 2007, so that is doable if I put 5k down and put the rest on the Visa. However, I've also read that they do not accept credit cards for payment but do accept credit card checks. How are people doing this then?

They must have received checks in the mail from Disney Visa. Maybe if you call you can request some.

 

[lebeau]

They must have received checks in the mail from Disney Visa. Maybe if you call you can request some.

As a Disney Visa holder, I can tell you that you can get convenience checks that let you put something on your Visa balance. However, you do not get points for something you paid for with a convenience check.

 

[RickEff]

I did find a couple 150 pts for around $68 per point at Hilton Head on Timeshare store, for around 10k.

That sounds like a pretty good deal. But keep in mind the closing costs. Probably about 400 dollars so that adds 2.66 per point. I also believe the transaction takes a few months - and HH points expire in 2042 instead of 2054. With the new deal at SSR at $83.33 you may consider paying the extra $12 a point for 12 more years.