DVC (Best way to buy)

[sweethoneybee]

After 4 months deliberating much to our bank accounts and my other half’s dismay this year we have decided that we are defiantly goanna buy in to DVC because the holidays are getting too expensive this year alone we spent 8k on our 3 week holiday in march and it looks like next year is going to cost us more so we thought that we would buy in to DVC and have our accommodation or cruise at least booked and paid for every year or so.

What is the best way to finance do it through Disney and pay a 30% deposit?

Or finding your own loan and doing it that way what would you guys think?

We are thinking of buying 250-300 points

[rusty30]

We were going to buy this year (though decided against it at the last minute) and its definately best to arrange your own finance.

Disney use Abbey and their rates were not very good (about 12% APR I think, whereas most high st loans are half this!).

We were going to use a 0% credit card as that was the most cost effective way.

Also, have you looked at resales as there are some much better bargains than buying direct through Disney. You have to weigh up the incentives DIsney are offering, and compare with the reduced price per point you can get a resale for. A resale seemed the way to go when we looked.

Whichever you choose, definately have your own finance though.

[madmandy]

whats DVC

[rusty30]

DVC=Disney Vacation Club.

Its a kind of timeshare. You buy a set number of points and use them to stay at Disney Resorts. There are DVC resorts where your points go further, but you can use your points at any Disney Resort and affiliate hotels around the world.

It can be a good scheme, but we found it expensive as we needed 400 points for a 2 bed unit and the maintenance fee alone (approx £1000 a year on 400 points) would cost more than we pay for a 4 bed villa offsite. Plus you still have to factor in flights, spends and tickets :( .

It can work very well, especially if you need a smaller unit (studio) and / or only go every other year.

For us, it wasnt cost effective, though it does work for many.

[madmandy]

I see, it wouldnt be cost effective for us either. Good idea though.

[ClaireB]

It may be worth looking at other TS rather than just DVC. My parents have TS @ Orange Lake Country Club which is a hugh complex on 192. They have a 3 bed appartment which sleeps upto 12. I think for the 2 weeks they paid around $18k with maintenance charge of approx £650 a year. (depending on exchange rate)

It is a good complex and their web site is orangelake.com

[scottfeltham]

hi we got finance with disney for our dvc,
we got it direct to them through my bank ,we pay 12 percent
and got when the dollar was 1.4
so every month we pay less than the yanks
plus it doesnt show up on any credit score over here
IM if want more details