Exclusive Resorts has introduced a deferred payment option for those interested in joining their destination club. While new members can pay the full membership free up front, they now have the ability to select a deferred payment plan. (Annual dues are the same for both payment options.)

The program allows “highly qualified individuals” to finance up to 80% of their membership fee (the refundable membership deposit) with financing provided by CBC Financial Bank, an FDIC-insured bank. New members only pay the 20% transfer fee and finance the remainder or less, if desired, for up to five years with monthly, interest-only payments.

The loan rate is based on the one year LIBOR rate + 1.45% (5.235% as of 03/01/2007). In addition, there is a 1% bank fee and a $7,500 Club service fee associated with this option. Principal is due at maturity and there are no pre-payment penalties.

With third-party financing, Exclusive Resorts assumes no financial risk and makes luxury vacation club membership accessible to more people. In turn, the club will grow their member base and gain more money to purchase more properites. As a result, Exclusive Results expects to give their membership a greater variety of residences and more diverse of experiences.

Interested in Exclusive Resorts or luxury vacation clubs? Then read Exclusive Resorts Offers Ultra Membership and Exclusive Resorts Opens First Members-only Resort.

Or check out reviews of Exclusive Resorts from their members and guests.