3 Options to Getting Timeshare Financing

Timeshare financing can help get you the vacation of your dreams every year for the rest of your life. Here are a few different options that you have in order to secure timeshare financing. 

1. Timeshare Seller

The easiest way to finance your timeshare purchase is through the timeshare seller. When they start negotiating with you about the purchase price, they will present you a financing option with a monthly payment. Timeshare companies are typically very lenient with their credit decisions. As long as you have decent credit and a source of income, they will usually finance you. They will charge you a very high rate of interest, though, so it may be to your advantage to look elsewhere.

2. Home Equity Loan

A home equity loan can allow you the opportunity to buy the timeshare at a much lower rate of interest. You need to be careful about using up your home equity, though. Your home equity may be your last source of refuge in case of an emergency. Therefore, utilizing it to buy a timeshare may not be your best option. 

3. Personal Loan

Another option that you have is simply to go your local bank and get a personal loan. This will allow you to keep your home equity intact and still get a more reasonable interest rate. 

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