5 Pro Tips for DVC Financing

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6 Pro Tips for DVC Financing

According to the latest PR release from Disney Vacation Club, there are currently over 250,000 DVC member families across the world. 

Disney Vacation Club offers affordable vacations to over 3,000 resorts globally thanks to its affiliations with other exchange companies. That makes it an attractive alternative to conventional vacations for savvy vacationers

DVC may offer long-term value, but it’s expensive to set up your membership initially. Fortunately, you can make use of DVC financing to get your foot in the door.

Here’s how to do it right.

1. Take Affordability Seriously

Purists will tell you not to apply for finance when buying luxury items like vacations.

Yet, if you can afford it without sacrificing essentials, there’s no real reason why you shouldn’t finance your DVC membership. Consider it as a way to save up for future vacations. 

2. Choose Your Payment Term Carefully

If you choose a longer payment term, you’ll have smaller repayments.

You’ll also enjoy more opportunities to pay a little more on your principal debt at times. This can reduce the amount you pay in the long run considerably.

Shorter payment terms naturally mean a shorter commitment to the debt and lower interest charges. So, if you’re comfortable with higher repayments, it’s a better option for you.  

Interest rates over 10-year repayment periods can cancel out the savings you’ll enjoy from your DVC membership. 

3. Find the Lowest DVC Financing Rate

Don’t select the first loan option you come across. Rather, shop around for the best DVC financing you can find. 

Interest rates vary widely depending on which financial institution or reseller you decide on. Always opt for the lowest one from the most reputable lender. 

4. Avoid Paying for DVC With a HELOC

A home equity line of credit only works if your house has significant value. It’s not the best option to finance your DVC product, though.

If you fall upon hard times, and you can’t meet your loan repayments, you could end up losing your home. 

5. Don’t Think of DVC as an Investment

DVC isn’t an investment in the true sense of the word. It won’t increase in value over the years.

Yet, it does offer many intangible benefits that can last a lifetime. It’s proven that regular vacations contribute enormously to good mental health. 

When you have a DVC membership, you’re committing to annual vacations, and thus to your overall wellbeing.  

Choose a Vacation Option That Suits You

Disney Vacation Club can indeed add tremendous value to your life by providing a lifetime of vacations.

You must consider your finances very carefully and thoroughly before you opt for any type of loan.

Buying a timeshare product is akin to purchasing a second home and includes ongoing costs for up to 50 years. By the time you could no longer afford the maintenance fees of your timeshare, be wary of selling timeshare scams. A better option is to cancel your timeshare with the help of reliable timeshare exit companies.

Are you hesitant to commit to DVC financing right now? If you’re not sure, it’s best to wait.

You can still enjoy the benefits of DVC vacations from time to time by renting accommodation from members, or DVC direct.

Would you like to explore other ways to entertain yourself? Browse our blog for suggestions.