Not everyone can pay cash for a DVC contract. Fortunately, several lenders specialize in DVC resale financing, offering loans that make ownership accessible while you pay over time.
DVC Financing Overview
Unlike traditional mortgages, DVC loans are typically:
- Unsecured personal loans (no appraisal required)
- Shorter terms (3-10 years)
- Higher interest rates than mortgages (10-15% APR)
- Quick approval and funding (24-72 hours)
Current Financing Options
Typical DVC Loan Terms (2024)
| Feature | Typical Range |
|---|---|
| Down Payment | 10-20% |
| Interest Rate (APR) | 11.9-14.9% |
| Loan Terms | 3, 5, 7, or 10 years |
| Minimum Loan | $5,000-10,000 |
| Prepayment Penalty | Usually none |
Monthly Payment Examples
For a $15,000 financed amount at 12.9% APR:
| Term | Monthly Payment | Total Interest |
|---|---|---|
| 3 Years | ~$505 | ~$3,180 |
| 5 Years | ~$340 | ~$5,400 |
| 7 Years | ~$270 | ~$7,680 |
| 10 Years | ~$220 | ~$11,400 |
Factors Affecting Your Rate
- Down payment - Larger down payments may qualify for lower rates
- Credit score - Higher scores get better rates
- Loan term - Shorter terms often have lower rates
- Lender - Rates vary between companies
Should You Finance DVC?
Consider Financing If:
- You have stable income to cover payments plus annual dues
- Your emergency fund remains intact after down payment
- You plan to use the membership immediately (start getting value)
- Paying cash would deplete savings you need for other goals
Reconsider Financing If:
- You are carrying high-interest debt (pay that first)
- Monthly payment plus dues strains your budget
- You could save up and pay cash within 1-2 years
- You are unsure about long-term DVC commitment
DVC ownership should enhance your life, not create financial stress. Calculate your total monthly obligation (loan payment + prorated annual dues) and ensure it fits comfortably in your budget.