How long before BCV sells out??

[Jon99]

We are now thinking we would like to buy into BCV because of the location... Since we are not planning on going to Disney anytime soon, we thought we would wait a while, giving us time to save cash so we don't need to finance as much....

[joepoe]

I read elsewhere on these boards that it is about 25% sold. The price is going up to $80 a point in June, and they are discontinuing incentives to buy, so maybe you want to think about not waiting. You can always pay the mortgage down early.

[Jon99]

Are they still doing the $5/point rebate?????

[inky dinky doo]

I just called to speak with my guide, and the message on her voice mail says "the incentive to buy is going away on April 30." So, if that's a consideration, you have a little over a week to decide. Good luck.

Inky

[kem330]

Jon, you could always buy in minimum 150 points and rent them out to cover your expense or bank them for next year .Or just wait a few years and BCV will be available as a resale!

[Jon99]

Our problem now is that we just got married (At Disney) and bought our first house, so we are short on cash after buying the house and paying for the wedding, so the less money we put down the better right now.. With the $5 rebate, whats the least amount of cash we could put down for 150 points????

Just trying to figure out what makes the most sense financialy.. Right now we could find about $1000(from savings) to put down in time to get the $5 rebate, but if we wait 4 or 5 months we would have the 20% to put down without touching our savings, but would buy in at $10 a point more...

Then I am always worried about the financing issue... We just bought a new house and a new truck, and we still have her car to pay off, plus about 4 years ago I went thru some financial problems ,so my credit report has some major blemishes although its clean for about 2 years now...

[fireplug]

on getting married:bounce:

I think the best way to get most of your questions answered is to speak with a vacation club guide. Ours is Ken Bradshaw and he is great about answering all of our questions. I realize that money is short right now due to the wedding and all, but a purchase now saves the five dollar increase and allows the five dollar sellback. It may not be the absolute best way but we put our first downpayment onto our mastercard and then paid it off quickly to avoid lots of interest charges.
I can give you Kens # if you wish,

Steve

Just up the road in Limestone:bounce:

[Jon99]

Ken is our guy to, did a wonderful job and was not high pressured at all...

[kem330]

Jon, congratulations on the wedding. There's no harm in waiting to buy- the price increase is not that big a difference in the scheme of things really its the annual dues that add up and finance charges. If you have your heart set on BCV, keep in mind that VWL just sold out and resales are starting to be available there already. You could wait a year or so, and I think it'll be available one way or the other. It'd make a heck of a first anniversary present to each other!

[ceejay13]

I just got off the phone with our guide and added on 100 points. We already own at BWV. I asked him if he knew what percent had been sold and he said he didn't but BCV had been selling very fast. In fact, he said it was selling faster than any of the others have. Even with that, however, he thought it would take about a year for it to sell out, but it was hard to predict. We will probably add another 50 points before it sells out, but wanted to wait until closer to the end of the year.

[Terry S]

Jon99.... DVC is pretty lenient with their financing. We have a lot of debt and they gave us enough credit for 800 points. I have also heard from these boards that they don't report to the credit agencies, but I can't confirm that.

[DaveH]

We bought last May and the incentive then was selling back points, I think at $5 each for first year. We put $500 down besides.

[Jon99]

Terry- What do you mean they don't report to credit agencies????

Dave- So if we buy $175 points at $75 ($13125), we can use the $5 per point cash back ($875) towards our down payment and put down as little as $437 if we go 10% down????

[Richyams]

I believe that they have stopped allowing the incentive to be used as part of the downpayment. The out of pocket will be 10% or 20% for the better finance rate.

[Jon99]

Decisions, decisions, decisions.... We decided we would not touch our savings for anything other than emergencies (Is DVC an emergency???? :) ), but the idea of saving what would turn out to be $10 a point makes it very tempting...

[Terry S]

As far as the incentive goes, Someone here posted (I haven't cofirmed this though) that they will still allow it for the downpayment as long as your putting down 20% or more.

So if you put 20% down that would equal $2,625 - $875 (incentive) = $1,750 out of pocket. Balance Financed $10,500 at 10.95% for 10 years = Monthly payment $144.34

If you put 10% down that would equal $1,312.50 out of pocket. Balance $11,812.5 - $875 (incentive) = Financed amount of $10,937.50 at 10.95% for 10 years = Month payment $150.35

As far as what I posted about the credit reporting agencies is that someone here posted (again, I haven't cofirmed it) that DVC does not tell the credit reporting agencies that our loans exist which would mean if we tried to get another loan the DVC loan would not have any bearing on it. (But, you would know you had the loan and would still have to be able to pay it.)

[Scrooge276]

I have owned since 1995 and am in the finance business and have never had any of my 4 DVC ownerships show up on my credit report. It's too bad I think because they would count as a mortgage.

[Bennet]

There is always the resale market if you decide to wait.

[Jon99]

Oh its something we will do before the end of the year, which was our original plan... But with the point increase and the incentive, its tough to pass up right now... Problem is, we are both tight with our money ,afraid to touch our savings and our only other funds are in our 401K, IRA and 403B... And we could put about 30% down today, but I have a feeling the county tax office might have a problem with us not paying our property taxes... :)