Disney Vacation Club (DVC) is a popular vacation ownership program that allows you to enjoy Disney vacations for years to come. But how much do you have to put down on a Disney Vacation Club? In this article, we will discuss the various costs associated with buying into the DVC program.
What is Disney Vacation Club?
Disney Vacation Club is a vacation ownership program that allows members to own a share of a Disney resort property. Members can use their points to book accommodations at any of the 14 DVC resorts located at Walt Disney World, Disneyland, Hawaii, and Vero Beach. Members also have access to other perks such as discounts on dining, merchandise, and theme park tickets.
How much do you have to put down on a Disney Vacation Club?
The amount you have to put down on a DVC membership varies depending on the size of the contract and the resort you choose. The minimum purchase price for a DVC membership is $19,000 for 100 points at Copper Creek Villas & Cabins at Disney’s Wilderness Lodge. However, most contracts are sold in increments of 25 points, which means that the minimum purchase price for most resorts is around $25,000.
Down payment and financing options
When purchasing a DVC membership, you are required to make a down payment of 10% of the purchase price or $1,000 (whichever is greater). The remaining balance can be financed over up to 10 years with interest rates ranging from 9.99% – 17.99% depending on your creditworthiness.
Closing costs
In addition to the purchase price and down payment, there are also closing costs associated with buying into the DVC program. These costs include title insurance fees and recording fees which can add up to several thousand dollars.
Maintenance fees
Finally, it’s important to keep in mind that there are also annual maintenance fees associated with owning a DVC membership. These fees cover the cost of maintaining the resort properties and can range from $6.50 – $8.50 per point per year depending on the resort.
Conclusion
In conclusion, while the minimum purchase price for a DVC membership is $19,000, most contracts are sold in increments of 25 points which means that the minimum purchase price for most resorts is around $25,000. In addition to the purchase price, down payment, and financing costs, there are also closing costs and annual maintenance fees associated with owning a DVC membership. Before purchasing a DVC membership, it’s important to consider all of these costs and ensure that it fits within your budget and vacation goals.