<div style="display:inline;"> <img height="1" width="1" style="border-style:none;" alt="" src="//googleads.g.doubleclick.net/pagead/viewthroughconversion/965941404/?value=0&amp;guid=ON&amp;script=0">

Fidelity Resales Blog

Disney Vacation Club Financing Options

Posted by Paul Rotter on May 8, 2015 8:00:00 AM

Many current owners refer to DVC membership as "a dream come true" but the realization of this dream requires a rather significant financial obligation. For some, financing is the only way to make purchasing Disney Vacation Club affordable, while for others, financing can reduce the burden of the substantial initial costs. We examined several of the strongest opportunities for financing DVC and have compiled our research below to help make this process easier and the possibility of DVC ownership achievable.

Financing a DVC Purchase through Disney

This option is only a consideration if purchasing DVC membership directly from Disney. Buying Disney Vacation Club directly is substantially more expensive than buying DVC on the resale market, so financing may be a necessity. Unfortunately, the cost of financing through DVC is rather high, but the benefit is that the DVC loans do not appear on credit checks, and the rates could be reduced down the road by refinancing through another lender.

Disney Financing Rates

Credit Status, Down Payment

Interest Rate

Current member, 10% down

11.0%

Current member, 20% down

8.99%

Premium, 10% down

12.0%

Premium, 20% down

9.99%

Preferred, 10% down

14.5%

Preferred, 20% down

12.0%

Standard, 10% down

17.5%

Standard, 20% down

14.5%

Financing DVC Resales

moneyfistBuying Disney Vacation Club on the resale market opens up several additional financing options that are not available when buying directly from Disney. There will be purchase costs that fall beyond the scope of the loan though. Closing costs will still need to be paid to the title company, and maintenance fees must be paid to Disney. Some potential buyers are also concerned about financing and how it could be impacted by Disney's Right of First Refusal (ROFR). Fortunately, if you submit a loan application but the sale falls subject to ROFR the loan will not go into effect and there will be no loan origination fee.

Monera Financial

Monera specializes in providing financing exclusively for DVC purchases. They have an excellent reputation among the DVC community. Their hassle-free lending process and simple online application process make financing quick and easy. You can learn more about Monera's services here.
  • No credit checks or financial info needed (automatically approved)
  • Competitive rates with options from 8.9% to 12.9%
  • Online web portal to view account history
  • No pre-payment penalty
  • No loan points
  • Offer 1 to 10 year loans
  • No service fee
  • Loans at a minimum of $4,000

First State Bank of the Florida Keys

Lending since 1995 but relatively new to financing timeshare resales, First State Bank of the Florida Keys is an experienced lender offering loans on DVC resale purchases and a few other select brands. You can learn more about their financing opportunities here.
  • Rates as low as 9.87%  (9.99% APR)
  • Financing is available for timeshares in: FL, CA, HI, NV, and SC
  • Approval process is simple and efficient
  • Apply online
  • Experienced financial institution & member FDIC

Alternative DVC Financing Tactics

Disney credit cards can be used for down payments on a DVC purchase, and they come with some neat benefits. The Disney Reward Dollars earned by using the credit card can be exchanged for great products that you would probably end up buying anyway, such as a 1-day child theme park ticket to Magic Kingdom! 

Disney Premier Visa Card

  •  Earn 2% in Disney Dream Reward Dollars at gas stations, grocery stores and most Disney locations
  • Earn 1% on all other card purchases 

Disney Reward Visa Card 

  • Earn 1% in Disney Dream Reward Dollars on all card purchases
  • 1 Disney Dream Reward Dollar for every $100 spent
  • Interest free for 6 months
  • 0% APR if you book select Walt Disney World, Disneyland Resorts vacation packages, all Disney Cruise Line packages and Adventures by Disney packages, and Aulani
  • 10% savings on merchandise purchases of $50 or more if you mention your card member savings perk and use the Disney Visa Card

 

Regardless of the reasons for considering financing a DVC purchase, the best course of action depends almost entirely on your overall financial status, so it's important to evaluate your situation thoroughly before making a decision. If you'd like some assistance weighing your options, Fidelity's licensed real estate brokers are DVC experts with decades of experience with Disney Vacation Club transactions. They would be glad to provide any information or assistance desired. Simply call or click to contact a Fidelity agent now.

Topics: Disney Vacation Club