Are you a huge Disney fan and looking to invest in the Disney Vacation Club? If so, you might be wondering if financing is an option. The good news is, yes, you can finance your purchase of a Disney Vacation Club membership.
What is Disney Vacation Club?
Disney Vacation Club (DVC) is a timeshare program offered by Disney. Members purchase points that can be used to book stays at any of the DVC resorts.
These resorts are located at various Disney theme parks and destinations such as Walt Disney World in Florida, Disneyland in California, and Aulani Resort in Hawaii. As a member, you have access to exclusive benefits such as discounts on merchandise and dining, early park admission, and special events.
How does financing work?
Financing for a DVC membership works similarly to other types of loans. There are several lenders that specialize in DVC financing such as Monera Financial and The Timeshare Store Financing. These companies offer loans specifically for DVC memberships with terms ranging from 3 to 10 years.
When applying for financing, lenders will consider your credit score and income to determine your eligibility and interest rate. It’s important to shop around and compare rates from different lenders before making a decision.
Pros of Financing
One advantage of financing is that it allows you to spread out the cost of your DVC membership over time instead of paying for it all upfront. This can make it more manageable for those who may not have the funds available to pay for it all at once.
Additionally, financing can also help improve your credit score if you make timely payments each month.
Cons of Financing
The main disadvantage of financing is the added cost of interest payments. Depending on the length of the loan term and interest rate, you may end up paying significantly more than if you were to pay upfront.
It’s also important to consider the long-term financial commitment of a DVC membership. While the benefits and flexibility may be appealing now, it’s important to ensure that you’ll be able to continue making payments for the duration of the loan term.
Conclusion
In summary, financing is an option for those looking to purchase a Disney Vacation Club membership. While it can make the cost more manageable, it’s important to weigh the pros and cons before making a decision. Be sure to compare rates from different lenders and consider your long-term financial situation before committing to a loan.