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athenna
04-03-2006, 07:14 PM
Say I wanted to pay off about half of what I still owe DVC. How would I go about doing that? Would my monthly payments be half of what they are now? Or would the monthly payments be the same, it would just be paid off in half the time?

TIA:)
PoohsPal
04-03-2006, 07:16 PM
Just call member accounting. I believe your payments would stay the same, but be paid off in half the time.
KNWVIKING
04-03-2006, 07:55 PM
How to pay half ?

Easiest way is just send me a check - made out to The Viking of course. I'll hand deliver it May 1st, just fore the GG.

Your payments will remain the same.No different then paying additional principle on any other installment plan type loan.
cobbler
04-03-2006, 09:54 PM
Your payments will remain the same. But since you are applying it to the principle then less interest can accrue.
athenna
04-03-2006, 10:14 PM
Hmmmm decisions, decisions..Well, I should do it while I have the funds, better to pay it off in 3 more years than 6 more years.
cobbler
04-03-2006, 10:48 PM
Yep, pay it off sooner while you can.

I financed through Disney, it was just easier. I have a plan to pay it off in 2.5 years. After all is said and done I will pay about 1900 in interest. I used a loan caluclator to figure this out.

If I took the full 10 years I would pay about 9800 in interest.

NO WAY JOSE! :crazy:
athenna
04-03-2006, 10:56 PM
Wow, what a difference:crazy: ..I financed for 7 years, got 6 left, but I can do it in half the time now. If I can save all that interest, then heck yeah!:highfive:
cobbler
04-03-2006, 11:08 PM
Go to bankrate.com and use their loan calculator.

It will show you how much interest you would have paid and how much you will pay, its really eye opening.

I don't mind paying the 1900 interest. I figured that would make my points cost me 91 and some change per point. Which isn't bad being that I will get 4 years out of them and who knows what points will cost in 4 years.
mushu
04-05-2006, 06:23 PM
You will save paying it off sooner. Good luck.
Boston5602
04-25-2006, 01:10 AM
ORRRRR You could NOT pay it off and buy an add on , ooohh hyeahhh an add on:ROTFL: :ROTFL:
carolina_yankee
04-25-2006, 03:59 AM
ORRRRR You could NOT pay it off and buy an add on , ooohh hyeahhh an add on:ROTFL: :ROTFL:

Wicked! :goodnevil That's what I'd do, though.

Dirk
athenna
04-25-2006, 02:38 PM
ORRRRR You could NOT pay it off and buy an add on , ooohh hyeahhh an add on:ROTFL: :ROTFL:

Yeah, if I didn't just buy a townhouse, that's what I would've done. But I decided to pay off half of what I owe to DVC.
Boston5602
04-26-2006, 08:51 PM
after buying a new townhome paying off bills is smart ....smarter then ME :laughing:
athenna
04-26-2006, 09:27 PM
after buying a new townhome paying off bills is smart ....smarter then ME :laughing:


I hate to be smart, I'd much rather be adding on. Oh darn responsibilities.
:laughing:
TW1
04-26-2006, 09:41 PM
But really, if you have the funds to pay off half, why not use that to buy points?

You are already handling the payments of your current loan and sending a big chunk to DVC towards the first loan doesn't change the month to month cash flow. So instead you can come out ahead by just purchasing points for cash and not bother altering your current loan.

Also, if you have a bit of cash today, maybe you'll have a smiliar bit in a few years. At that point you may be able to pay off the loan since you've made several more years worth of monthly payments. And if you wanted to buy more points eventually, now is a good time since many rumors are leading us to believe the point costs are going up.

Just my 2 cents.