Quote:
Originally Posted by WishUponAStar
MissDis, I am near 100% sure that once they lock you into a 'monthly payment' & an interest rate it doesn't change. My good friend at work bought in 11 years ago & financed. She paid $163/month (or whatever it was) for the entire length of the loan term. I've never heard of the monthly payment going up at all.
|
Oh hahahaha.... I can see where it sounds like that's what I meant. But what I was trying to say was:
If you choose to finance, you will be making interest payments each month in addition to the monthly DVC fees. If there is ANY way to avoid making interest payments, it is always a good thing.
We always pay cash for cars, for instance, because we get the car for the purchase price. If you finance, you have to pay the purchase price and enormous interest that adds up to become overwhelming over the life of the loan.
Same with DVC. If you finance the membership, you will pay gazillions in interest. The DVC interest is high, and probably not much better if you get a private loan from a bank. We saved the money to make a lump sum payment up front so there are no interest and finance fees.