One of the first thoughts I ever had when considering Disney Vacation Club was, ‘How in the world am I ever going to be able to afford this’?
I would have to imagine that I’m not alone in my sentiment and that many first time buyers feel this same way and are turned off by the large upfront price tag. Becoming a DVC Member isn’t cheap, but it is something that I believe is obtainable by many as long as they dig in and do a little bit of research.
Evaluate Your Finances
I’m not going to assume I have any clue what your financial situation looks like. What I can tell you, though, is that if you don’t have the money for Disney Vacation Club upfront, you’re going to need to crunch some numbers to figure out its value to your situation and how you will afford it.
The easiest way I’ve found to help plan for this purchase is to think of it similar to your car payment. This is exactly what Amy and I did when purchasing our first DVC contract. With two functional cars that were paid off and running well, instead of rushing out to buy a new shiny Jeep (although I did eventually), we decided to take that money and allocate it each month towards DVC. This way, it was budgeted for, and we felt a lot more comfortable with the thought of becoming members.
With no significant member benefits currently available and the price to obtain these continuing to increase, any reason to buy Disney Vacation Club direct from Disney has vanished. Purchasing DVC via resale will save you tons of money upfront and over the life of your contract!
When evaluating how we would afford DVC, we wanted to ensure we got the most bang for our buck. To this point, I would tell any prospective buyer to be patient and not try to go after the first contract you see. There are many resale contracts out there for every resort. Depending on what price range you are looking for and how many points you need, it may take some time to find the perfect match, but the savings will be well worth the wait.
Finance Your Contract
Now I’m sure the purists will jump all over me on this one, but the truth of the matter is most DVC owners don’t have the upfront money available to purchase a contract. Yes, this will impact the overall value, but in the long run, you will still be saving money, staying in accommodations you never dreamed of, and ensuring countless years of memories for both you and your family.
When it comes to financing your Disney Vacation Club purchase, the decision comes down to who will give you the best rate and the most flexibility. I historically have turned to the experts at Monera Financial when it comes to financing my DVC contracts. Monera offers a standard no credit check option in 3, 7, and 10-year terms. These also vary in terms of down-payment if you don’t have much upfront money to put towards your purchase. Interest rates range from 9.9 to 15.9%, depending on the financing option you select.
As I stated above, financing your Disney Vacation Club purchase may not give you as much value over the life of your contract, but for many, it is the only way they can realize the dream of becoming a DVC Member.
Look – I’m not sitting here trying to say Disney Vacation Club is for everyone. I wish I could say that but it’s just not the reality. There are many cases in which it is not a good decision, whether financial, family, or other reasons. However, if you were like me the first time you heard about it and ruled it out before you ever really gave it a chance, I’d encourage you to sit down and give it another look. I know I’m glad I did!
Would love to hear your thoughts! How did you afford your Disney Vacation Club contract? Did you finance? What other questions are you considering? Share with us in the comments!