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Post by helenabear on Oct 1, 2024 8:58:11 GMT -5
My guide just emailed me the whole info package. To finance any points the interest rate is 11%! Wow, and I’m not seeing a discount in interest rates if you put down more deposit or have a better credit rating. If I can remember how to post a pic, I’ll post it here. That's for 10% down. 20% is 9.49% and 8.99% feels about right. Resale is 9.9% to 16.9% My guide is sending me stuff too. (Click to see large zoom-able)  |
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Post by helenabear on Oct 1, 2024 9:05:11 GMT -5
I don’t know. Of course there will be a pent up buying frenzy, but for how long is the question. No restrictions....MF not out of control......MK location.....Nice Amenities.
It will out sell RR every month until the end of sales.
Agreed! I never thought it would get great incentives at least at first. I get torn on this idea. I am one who will never add on if I have to finance it. Certainly the strong advice on other timeshare boards is to never buy a timeshare if it can't be purchased outright. I can't imagine buying something like a timeshare on credit. Seems a very bad idea and an indication that one can't really afford the luxury purchase. Cheers. I did for every single direct purchase. I put as much down as allowed for resales (1st resale was no credit card allowed at all). I'll do it again if I add on. Why? Rewards earned! We pay it off immediately though as I do not like to carry a balance unless we have 0% financing. |
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Post by helenabear on Oct 1, 2024 9:14:09 GMT -5
They just revealed the new lounge this morning for DVC sales at the Polynesian. They must think they'll sell to totally redo and give a waiting spot for those who want to find out more info.
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Post by brp on Oct 1, 2024 9:19:07 GMT -5
Certainly the strong advice on other timeshare boards is to never buy a timeshare if it can't be purchased outright. I can't imagine buying something like a timeshare on credit. Seems a very bad idea and an indication that one can't really afford the luxury purchase. Cheers. I did for every single direct purchase. I put as much down as allowed for resales (1st resale was no credit card allowed at all). I'll do it again if I add on. Why? Rewards earned! We pay it off immediately though as I do not like to carry a balance unless we have 0% financing. This is not what I meant, and I was not clear. Paying it off immediately is not actually buying on credit. I've done just what you say and wholeheartedly suggest this. What I mean was financing on credit where one is actually paying over time and paying interest. That is a really bad idea.
Using a credit card as a means to get points and then paying off is such a good strategy, it's almost criminal not to do it. We even pay our estimated and final taxes this way as well as property tax.
But actually financing a timeshare does not seem a wise idea.
Cheers.
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Post by helenabear on Oct 1, 2024 10:01:11 GMT -5
I did for every single direct purchase. I put as much down as allowed for resales (1st resale was no credit card allowed at all). I'll do it again if I add on. Why? Rewards earned! We pay it off immediately though as I do not like to carry a balance unless we have 0% financing. This is not what I meant, and I was not clear. Paying it off immediately is not actually buying on credit. I've done just what you say and wholeheartedly suggest this. What I mean was financing on credit where one is actually paying over time and paying interest. That is a really bad idea. Using a credit card as a means to get points and then paying off is such a good strategy, it's almost criminal not to do it. We even pay our estimated and final taxes this way as well as property tax. But actually financing a timeshare does not seem a wise idea. Cheers. I don't judge but to me it doesn't seem wise either. Stupid math fact. 3550 days have passed between the start of sales for PVB the first time and start of the 2nd time. |
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Post by BWV Dreamin on Oct 1, 2024 11:22:54 GMT -5
My guide just emailed me the whole info package. To finance any points the interest rate is 11%! Wow, and I’m not seeing a discount in interest rates if you put down more deposit or have a better credit rating. If I can remember how to post a pic, I’ll post it here. That's for 10% down. 20% is 9.49% and 8.99% feels about right. Resale is 9.9% to 16.9% My guide is sending me stuff too. (Click to see large zoom-able) Thanks Elaine! I didn’t scroll down. Still not low enough! I don’t judge people for financing. Our first purchase, resale in 2007, was using a HELOC. It was paid off, but now that I am wiser, I will never do that again!! Still, it got us into DVC, and with subsequent purchases and increases in DVC value, we have made more money than spent on DVC. BUT, that was then, this is now. ( who has read that book, LOL). DVC has gotten so expensive, I have to question the ROI. |
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Post by helenabear on Oct 1, 2024 11:56:56 GMT -5
That's for 10% down. 20% is 9.49% and 8.99% feels about right. Resale is 9.9% to 16.9% My guide is sending me stuff too. (Click to see large zoom-able) Thanks Elaine! I didn’t scroll down. Still not low enough! I don’t judge people for financing. Our first purchase, resale in 2007, was using a HELOC. It was paid off, but now that I am wiser, I will never do that again!! Still, it got us into DVC, and with subsequent purchases and increases in DVC value, we have made more money than spent on DVC. BUT, that was then, this is now. ( who has read that book, LOL). DVC has gotten so expensive, I have to question the ROI. Sometimes eome loans can make sense. I mean I use 0% financing as much as possible so if super low or short term I won't even bat an eye. But too long and I'd be uncomfortable. I'm still wavering here. I really don't think I need the points. Might be wise to just wait and see. Do more resale if needed. The silly geeky side of me was looking at where I own and a part of me would like the tower lol. But also in my info there was 50 cash for starting. Keep in mind I just did my resale to supplement my 3 other direct purchases and I am not sure I can justify 50 points... unless I do a little more and sell off OKW entirely. I could ask again since I was told 25 min earlier. But if I do add more, it's going to be a sell off of OKW and resale likely for PVB. Which is time consuming. Have you made any decisions? |
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Post by fuzzylogic on Oct 1, 2024 11:59:16 GMT -5
Financing is just a tool. For example, if you buy 100 pts and finance $22,500 over 10 years, you'll pay $33,500. That's a whopping $11,000 interest. But, other factors might be more important. Like if your kids are 13, financing to own now could benefit you more than saving for 5 years and paying cash when they'll be 18 and moving out. It's also a catch-22 that you should want dvc when your kids are youngest, but at this early stage of life you're least able to pay cash for expensive things. I wouldn't finance a car today... but there were times when it was the right choice.
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Post by brp on Oct 1, 2024 12:47:53 GMT -5
Financing is just a tool. For example, if you buy 100 pts and finance $22,500 over 10 years, you'll pay $33,500. That's a whopping $11,000 interest. But, other factors might be more important. Like if your kids are 13, financing to own now could benefit you more than saving for 5 years and paying cash when they'll be 18 and moving out. It's also a catch-22 that you should want dvc when your kids are youngest, but at this early stage of life you're least able to pay cash for expensive things. I wouldn't finance a car today... but there were times when it was the right choice. It could be argued that a car is a necessity and financing may be necessary to get one when needed. Harder to argue the necessity of luxury purchases like timeshares. I've seen several stories on TUG of folks financing, then losing a job or having some other financial commitment. Can't unload it and can't pay for it. But to each their own.
Cheers.
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Post by baymaxfan on Oct 1, 2024 13:21:22 GMT -5
Financing is just a tool. For example, if you buy 100 pts and finance $22,500 over 10 years, you'll pay $33,500. That's a whopping $11,000 interest. But, other factors might be more important. Like if your kids are 13, financing to own now could benefit you more than saving for 5 years and paying cash when they'll be 18 and moving out. It's also a catch-22 that you should want dvc when your kids are youngest, but at this early stage of life you're least able to pay cash for expensive things. I wouldn't finance a car today... but there were times when it was the right choice. It could be argued that a car is a necessity and financing may be necessary to get one when needed. Harder to argue the necessity of luxury purchases like timeshares. I've seen several stories on TUG of folks financing, then losing a job or having some other financial commitment. Can't unload it and can't pay for it. But to each their own.
Cheers.
Totally agree with BRP. To make matter worse, it's not just the purchase of DVC. You would still need to pony up $$$ for flights, tickets, food, etc. It's one thing to do that every so often. It's another thing to commit oneself to visits every other year to a couple of times a year, forcing you to bear extra costs year after year. Obviously, people do it and to each their own. I just think it's a bad idea. |
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Post by helenabear on Oct 1, 2024 14:03:11 GMT -5
Financing is just a tool. For example, if you buy 100 pts and finance $22,500 over 10 years, you'll pay $33,500. That's a whopping $11,000 interest. But, other factors might be more important. Like if your kids are 13, financing to own now could benefit you more than saving for 5 years and paying cash when they'll be 18 and moving out. It's also a catch-22 that you should want dvc when your kids are youngest, but at this early stage of life you're least able to pay cash for expensive things. I wouldn't finance a car today... but there were times when it was the right choice. It could be argued that a car is a necessity and financing may be necessary to get one when needed. Harder to argue the necessity of luxury purchases like timeshares. I've seen several stories on TUG of folks financing, then losing a job or having some other financial commitment. Can't unload it and can't pay for it. But to each their own. Cheers. While my last two car purchases were cash (one let us put $3k on the credit card woot) the one prior was financed. Why? Low interest rates - when they're 0% or under 1% sometimes it makes sense to finance too. Lots of different ways to look at it with cars. Like you though, I can justify financing a car more than a luxury purchase. But again to each their own. |
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Post by BWV Dreamin on Oct 1, 2024 14:04:08 GMT -5
helenabear I am watching the resale market. Starting to see the prices coming down, although I have not checked today. At this point it’s gonna be price over time. Still lots of time left on resale Poly. Also, I am going to hedge that people were waiting for opening prices and incentives before making any changes to their pricing. Now that it’s all out there, I think resale owners will be making some decisions. Those that really want to sell will start dropping their prices. Just my hunch!
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Post by helenabear on Oct 1, 2024 14:11:20 GMT -5
helenabear I am watching the resale market. Starting to see the prices coming down, although I have not checked today. At this point it’s gonna be price over time. Still lots of time left on resale Poly. Also, I am going to hedge that people were waiting for opening prices and incentives before making any changes to their pricing. Now that it’s all out there, I think resale owners will be making some decisions. Those that really want to sell will start dropping their prices. Just my hunch! Sounds like a fixed week is kind of going by the wayside? Prices for sub 100 have not moved as of mid morning when I looked. 150+ did drop a little overnight since pricing was released at midnight (I only saw it at 3am lol) I'll keep watching too. My issue is that I don't know that I'll need need the points. And what might be my best interest is to see how life shakes out after HS graduation and go from there. But I still like watching things. I plan to look at prices again tonight and see where they fall. Then eventually next week too. I need to remember to take off my June filter though. That's still on from earlier this year. I am very happy with the price I paid in May/June (worked out to be about $170 due to a closing cost deal I worked) though still wish I had gotten that one earlier. It is what it is though. Disney wanted those points. |
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Post by brp on Oct 1, 2024 14:32:44 GMT -5
It could be argued that a car is a necessity and financing may be necessary to get one when needed. Harder to argue the necessity of luxury purchases like timeshares. I've seen several stories on TUG of folks financing, then losing a job or having some other financial commitment. Can't unload it and can't pay for it. But to each their own. Cheers. While my last two car purchases were cash (one let us put $3k on the credit card woot) the one prior was financed. Why? Low interest rates - when they're 0% or under 1% sometimes it makes sense to finance too. Lots of different ways to look at it with cars. Absolutely. 0% is a no-brainer. And even very low is good. Basically, if you have the money on hand to pay it off, just in case, and can easily earn more on the money, it pays to finance.
As an example, for a long time we were overpaying our mortgage. We we refinanced the rate down, we kept the payment the same. Then we got a mortgage at 2.125%. When we first got it, interest was low too. But that changed. Without any effort we can get 5% in a money market. So now we just pay the minimum and make more than we pay in interest.
But these are the exception cases. No one is going to get a good rate financing a timeshare 
Cheers.
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Post by dlwdwdvc on Oct 1, 2024 14:51:52 GMT -5
I can’t imagine financing for a vacation Club / timeshare…
Just basic math to break it down per night .
I shudder when I do the math for the maintenance fees multiplication ‘til 2042 Haha not funny
I think online conversations created the concept that it would be easy to sell profitably or profit by renting points every year easily. .
I’ll be honest … in the beginning the price point per night for basic studio and factoring in fees seemed reasonable to purchase .
Then the grandkids grew & one bedroom point increased that thinking and now we def would need a 2 bedroom … and visits during holidays excluding July 4 heat for summers …
I know DVC is low pressure but their math sales presentation can be very confusing and make it appear to be the ultimate answer for all your children’s future vacations needs .
Wow I just looked at a DVC resale market listings… I think there is more for Poly than SSR currently . I hope nobody Needs to sell for family emergency .
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