The Wonderful World of DVC Resale Financing
In recent years the Disney Vacation Club Resale Industry has grown and with that so has the affordability through great financing options. Rates on 5 year loans can be found under 10%. Compare that to ten years ago when it was almost impossible to even get a loan in the timeshare resale world. Fueled by competition, in just the last year alone DVC Resale lenders have dropped interest rates on their loans several percentage points. Moreover, for financing DVC contracts only, a few lenders Monera Financial and Timesharelending do not require credit checks. Monera, currently the #1 DVC Resale Finance Company and the primary lender for all Florida based resale DVC resorts was the first to pioneer the concept of financing DVC contracts based on the collateral and not the credit as with DVC unlike some other timeshares the resale value has a strong history. Timesharelending, the primary lender for all non-Florida based resale DVC contracts now offers no credit checks but will offer an additional 1% interest rate discount for what they consider to be “good credit”.
In fact, the DVC Resale financing world has now gotten arguably as attractive as Disney’s financing for their direct sales. Compare the following for ten year loans, which are the most common for DVC financing:
Monera’s rates for 10 year loans are 9.9% to 14.9% (based on down payment) regardless of credit.
Timesharelending rates for 10 year loans are 11.9% to 13.9% (based on 10-30% down payment) regardless of credit. And 6.9% to 10.9% with the “good credit” discount.
Disney direct rates for 10 year loans for non-members range from 9.9% to 17.5% based on credit and down payment.
All three offer shorter term loans and all three carry no pre-payment penalty loans.
In summary, it has never been more affordable and easier to finance a Disney Vacation Club contract! If you are looking to finance a DVC contract we recommend you check out both the websites below: