Is anyone postponing or delaying a DVC purchase?

[Dreamfinder2]

We are STILL planning a DVC purchase in late October. But prudence has made me at least consider holding off for a little while longer. Anyone else in this quandry? For you long-time owners, what do ya think you'd have done?

BTW ... our son graduates from Marine Boot Camp in San Diego in two weeks. You better know that this family is flying out for this milestone event! I will not let this wickedness keep us from being there.

We're counting on our son and his brothers and sisters in the military to keep us safe. Talk about a strange combination of pride and heartache ... :) :(

[ZerasPride]

I've been mulling over our pending purchase and I think another poster on another thread said it well - something with reference to the fact that when you join DVC you join for the long haul and that over 40 years it should be anticipated there will be some good times and bad times - times when you'll have frugal trips and times when your trips can be more extravagant. So for us, barring anything major happening, we do intend to purchase the minimum points at Hilton Head on our visit in a couple of months. I'd love to hear other owners or future owners comments as well.

Lisa

[abbyndrewmom]

We were in WDW when this horrible attack happened. WE were ready to sign the papers and join the DVC family however at this point we have decided to hold off. I can not tell you how horrible it was being trapped in Floridia. I realize many of you consider WDW the happiest place in the world but when you are stuck there it is no fun. Yes having an extra day in the park was nice but the 4th extra day was not! I realize our problems are nothing compared to the poor people of New York and Washington. However I have to say until there is a resolution I will not put my family in that situation again. It was such a feeling of helplessness not knowing when we be going home, we were turned away at the airport 3 times, this is after having confirmed reservation and checking with the airline before we left the hotel. We had to tell our 2 &4 yrs old that it would be yet another day before we got home. We finally got out on Saturday after waiting in line at the airport for 2.5 hrs.

Also we were going to pay cash for it and quite frankly until we know what is going to happen with this economy I'm just not ready to fork over so much money on basically vacation travel. Will we still take vacation? Yes like many of you my happiest childhood memories are time spent with family on vacation. but for the time being our vacations will be much closer to home.

I still think DVC is a great program and I hope at some point in the future we will be able to look into it again.

[BillM]

There are two reasons I can think of to put on hold a DVC purchase.

1. If your income is subject to be jeopardized by the employment cutbacks or the economy.

2. If you live at such a distance that you have to fly I might consider a delay until the traffic gets back to near normal with a nationalized airport security in place.

[chris1gill]

We are current owners at BW & OKW... Honestly, I think I would have a problem signing on the Mickey Ear lines right now... Not because of anything having to do with DVC, but just the uncertainty of it all right now...

[Pa@okw95]

I would wait before making any purchase at this time. Wait to see how the airlines are going to come out of this and how much it is going to cost you to fly. If you are close enough to WDW not to fly well that is not a problem. I would also just wait to see how WDW comes out of all this. There may be a counter attack after we attack. You may just want to wait and see what happens in that situation. Also you might just want to wait and see how WDW comes out of all this loss of business. Will they close certain parks or attractions on certain days to cut back on the lack of attendance? It is just not a good time to buy, wait at least 3 or 4 months to see what happens.

[Dreamfinder2]

This is all good counsel; we're within driving distance, so that's not an issue. Just as a followup question to my original post: Would your hesitation in purchasing right now be more of an issue of spending $$ on what is admittedly a "discretionary" item (i.e., vacations, which are important to sanity but not necessarily life-and-death issues); or just a general unwillingness to hold off on any major purchases right now (such as replacing a car that you could probably coax a year or so more out of.) I know what we'd like to do, and I'm "big enough" to make my own decisions; I'm just interested in your opinions. My job is not the type typically affected by economic swings (or maybe I'm deluded:eek: )

[ZerasPride]

I certainly value and appreciate all the forthright answers from everyone who has responded to this thread. Of course "waiting" is not what I want to do but everything is so chaotic right now, I was/am having second thoughts about this big purchase, especially since I would be financing it. I've been considering DVC since 1999 and I guess waiting a few more months to see how Disney and we ourselves fair in light of the economy and unrest in the country is very good advice. I too plan (as Dreamfinder) mentioned to be "big" enough to make this decision on my own and I guess none of us can predict what will happen in our individual or collective futures but its good to have others insights as well.

No matter what we decide, we are still planning on that anniversary trip for November (I guess I am an escapist at heart :) ).

Lisa

[sgtpet]

I know I have been negative in some people's eyes concerning point changes in the past. I have teetered back in forth whether to purchase. At this point I have to say I can't.

These are the reasons:

1) With the economic disaster in our nation, it is not prudent to sink $20,000 into a vacation home.

2) Because the concern of Disney itself. Disney stock is getting crushed. I would like to buy more but how much further will it fall.

3) Layoffs at WDW escalate with the economy.


My wife and I love Disney. There would have been no greater gift we could give our child and maybe future children than a wonderful timeshare at WDW. Now because of those terrorists, not only have they taken innocent American lives. But they have devastated our economic situation (which was already weak)

Good luck to everybody and

GOD BLESS AMERICA

[chris1gill]

I just wanted to follow up on my post up above.... I think that just for myself... about the only big thing I would buy today - If I absolutely had to would be a car... If appliances should break, I'd replace them... but just due to general uncertainty, I'd not be willing to write a check *today* for any real estate purchase.

Next month might/probably will be different... I think I just need to digest and come to terms with what's happened and what's still happening... I'm sure other Americans are probably feeling the same way....

Now, if you are thinking about DVC & have a trip planned where you have to pay room costs... I think it would be more prudent to invest in DVC... We surely have a trip upcoming & we are GOING...

As for DVC & Disney... I have no question they will whether the storm in the long run... I really wouldn't give that a second thought... yes their stock has dropped, but so has everyone else's... if nothing else, I'm always an optimist... albeit a thrifty one at the moment!

[dianeschlicht]

It occured to me while reading this thread that thinking along these lines is EXACTLY what the enemy wants! Throw our nation into an economic tail spin by making people "afraid" to travel and to spend into the economy, thus crippling it further.

I admit that last week I wanted to rethink our plan to build our "dream home" log home right now, but we decided not to let the B******s get us down!

[Pluto4President]

I sent in my deposit at the end of last week for a re-sale add-on. Obviously I am still within my cancellation timeframe. But, along with Diane's post, we are moving on. Going ahead with purchase and going to wdw next Thursday. It definately is a tragedy, but we must move onwards and upwards. As for the uncertainty with Disney because of the economy...this too shall pass. WDW has weathered a lot, and still lives and strives. I won't let anyone take away the magic, memories and future enjoyment in my life. (Just my opinion)

[Lisa F]

Originally posted by sgtpet
But they have devastated our economic situation (which was already weak)

I just have to say, I think this is extremely alarmist thinking. Our economic situation is nowhere NEAR devistated. If you want to use dramatic words like "devistated" think about the Great Depression. Even the recession we had in the 70's/80's was worse. It may seem worse now because we are coming off of record economic highs. This comment is not meant to sound snide or obnoxious, but I just think that a little perspective sometimes goes a long way.

I think these kinds of "self fulfilling prophecies" will in the long run do as much harm to our economy as those terrorist attacks did. Interestingly enough I just received an email from a family friend on a similar subject and the one thing that stood out to me was the line "god helps those who help themselves." The economy is not going to get better by giving in to that kind of thinking.

I think I would still buy in if we were in the same situation that we were in when we bought in originally. At the time we owned a house, had a reasonable amount of disposable income and took regular disney vacations. We were the dvc "poster children." Right now I'm in grad school, living in an apartment, trying to save up for a move and a house after I graduate... but I'm sure glad that we bought into DVC when we did, because I really need the vacation more than ever working 70-100 hour weeks.

The one thing I MIGHT do given the current situation is to hang tight for a little while and see if there are some better programs offered for buy ins... the price of DVC has skyrocketed because they haven't been able to build the units fast enough. I expect with a slowdown there might be more incentive to buy so I'd probably try to get a better deal.

Maybe I'm a hopeless optimist, but the way I see it, if the economy really DOES become "devistated" I won't spend the time until that happens worrying about it... but rather I'll be spending that time enjoying myself, enjoying my life, working hard, playing hard and making every day count. That includes my regular disney vacations. While we can afford it, we will go to disney. If we can't afford it, I suspect we will have bigger problems than what happens to our vacations.

Lisa

[dmadman43]

I agree with LisaF! This thinking feeds on itself and drives the economy down even further. This is not a consumer driven downturn, it is a business driven downturn. Consumers are still spending, for the most part. (at least they were before last week)

If you were going to purchase before Sept 11, then by all means still go through with your purchase. It's probably one of the most "patriotic" things you can do. Support the country by supporting the businesses and the economy. Now, if you had doubts, for whatever reason, before Sept 11, by all means continue to work through those doubts.

LisaF offers some sage advice....stay the course. Do what you would have done before Sept 11th.

[sgtpet]

The great financial days of the 1990's are fading fast. This is reality major layoffs were already happening prior to the bombings. I think it is time we realize that we are in a recession and do what we can to keep inflation down.

It isn't the Great Depression, yet.

[Pa@okw95]

Rooms are going dirt cheap in Vegas just to get people to come there. WDW is going to have to start charging cheaper prices to do the same. I would not buy into DVC at this time . Wait the price for a DVC unit will drop. Also if you can stay in a moderate for $50 per night would you want to buy into DVC at all. That day may be just around the corner.

[Lisa F]

While it's true that rooms will probably be discounted (although I think $50 for a moderate is not going to happen anytime soon... if someone is NOT going to travel and NOT going to fly, disney can charge $50/night for the grand floridian but that won't convince someone who is terrified of flying to get on a plane), I personally don't think that is a reason to not buy into DVC.

When we bought into DVC we were staying in a discounted room at the BWI for $169/night. We looked at the dramatic savings of DVC compared to rack rates and completely disregarded that. We have never paid rack rates. When we looked at the savings compared to our discounted rate, the savings were still very real and very compelling. It doesn't bother me or make me bitter that right now discounts are being offered to people who are not DVC members because in the big picture and over the long haul, we still win out. If you can't see past this year for the value of DVC then the program is definately not for you.

As far as the major layoffs, they were happening in the 90's as well during the financial boom... that's part of how companies were able to boost profits so high. It's just that recently (prior to September 11) layoffs have been "big news" as the press latches on to things like that in order to be able to scoop the "big story" that we are in a recession.

As far as doing what we can to keep inflation down, one of the best things we can do is to spend money. We spend money, there are fewer layoffs and companies sell more and don't have to raise prices to keep from going under.

Of course this is just my opinion as a DVC owner, not as someone who decided long ago that DVC was a terrible purchase and that the value wasn't there anymore, which sgtpet decided long before the terrorist acts ever happened.

By all means, if this tragedy has affected your personal financial situation, you definately need to make the right decision for yourselves. If you work in the travel industry and fear for your job, it would not be prudent to make a purchase such as this right now. But that advice applies ALL the time... you don't make large purchases when you can't afford to do so.

It is without a doubt that this tragedy will touch every single American citizen, as well as citizens of the world. I guess the question becomes how do you let it touch you? Everyone is now that much more aware that we, although american, are human also and our lives are fragile. You can let this realization cause you to live in fear and try to keep from being hurt or you can let this realization cause you to really understand how precious every day is and how we must make the best of it. I choose to be in the latter group. I don't know what the future will hold, but I do have control of the now and NOW I choose to live, love and enjoy life.

Lisa

[sgtpet]

Lisa F, you didn't purchase your DVC after 6,000 plus civilans were killed in the World Trade Center 10 days ago. Our lives in America will forever be impacted. This military action if done properly will exceed one year maybe even George W Bush's first term as President.


DVC is wonderful, but I think people should be more conservative with their funds then buying a timeshare. This might change 2 weeks from now or 5 years from now. I think we need to ensure our nation's safety.

Let's sacrifice for the common good of the USA.

[Lisa F]

Originally posted by sgtpet
Let's sacrifice for the common good of the USA.

How does not buying into DVC, not traveling, not spending money and not living our lives as normally as possible amount to the "common good of the USA"?

Did I buy in after the tragedy? No. I'm already a member. Would I buy in if I were not? Yes, I would. I outlined the reasons why I would in response to the original poster's question.

Did you buy in before the tragedy? No. Would you have bought in if the tragedy hadn't occured? No, I do not believe that you would've based on your criticism of DVC and your emphatic posts staying that you would not. First you post all of the doom and gloom about the future of DVC. Then you post the doom and gloom about the future of our country. Personally, I don't buy into either. You have a right to your opinion, and I have a right to refute blanket doomsday statements.

I think that dreamfinder2's family has already done enough in the way of "sacrifices for the common good" as has the family of every single military person who is going to be involved in this campaign.

As Forrest Gump says, that's all I have to say about that. People need to make their decisions based on their own situation and their own feelings. I just feel strongly that the best thing we can do for our country is to try to get back to normal as quickly as possible. Our president implored the nation to do the same last night in his address to congress.

Lisa

[TheWho]

It sounds like this thread is going from "should you buy DVC with a war going on" TO "are people going on vacations with a war going on". The two are different. DVC is for vacationing for the next 40 years. Is this war going to last 40 years? Are the rest of my vacations in my life going to be in my backyard?
In my opinion, the decision to buy DVC is based on "your own" economic situation and whether it's prudent to drop $15k to $20k on a vacation home. If your job is unstable, don't buy. As far as the importance of Disney stock, that's why I brought a timeshare with a blue chip company like Disney. I believe Disney will weather these bad economic times today and will in the future. If companies like Disney don't, then the terrorists did more harm than I thought.

[Dreamfinder2]

Ok.... isn't this getting interesting! It just occurred to me (because after Dubya's speech this past evening I had the first decent night's sleep since 9/11, and I'm thinking coherently) that since we weren't planning on buying until late October anyway (when we'll have socked aside enough for a significant down payment), that some of the literal/figurative dust will have settled, and perhaps we'll all know what the major announcement Sunday is.

I'll also freely admit that this is a different America, but you know what? I've never, ever been prouder to be an American than I am right now. I've made a conscious, rational, more-or-less mature thinking decision not to be cynical, or paranoid, or despondent. I feel this way because I know we have right on our side, and righteousness on our side, and my faith is placed in the eternal and not the temporal.

One other thing ... if you're familar with Disney history, you know that in the early 70's that our Mouse was on the shakiest of ground. It was ripe for takeover. And an administrative team came on board to stabilize things, and Disney was a darling of Wall Street for years. But, as in so many other institutions, that team was the right group at the right time. Now, perhaps, it's time for a new team better suited for the next step in Disney's future.

We're all going to be fine.

[Dan Murfman]

Let's sacrifice for the common good of the USA.

I also want to how this will be for the good of the USA?

[CarolMN]

Lisa F -

Well put! Bravo!

[stlrod]

Here's a copy of a message I had posted a couple of days after the attack:

Putting my executed contract in the mail today was a little tough. I kept thinking about whether I should buy a second timeshare given the economic uncertainities due to this week's tragedy. Then, I let my heart guide me. It wasn't my appreciation of Disney theme parks though that was in my heart. It was my children. I thought about how many of the happiest memories I had as a child stemmed from family vacations. I also thought about how fortunate I had been to take my wife and children to New York this past New Year's Eve. My youngest asked me this week whether "the ball" was affected. My oldest said, "Dad, the hotel we stayed at's not there anymore, is it?" She suddenly appeared much wiser than she should be at her age--it was the WTC Marriott. Then, I thought about all those victims and their families. While the children of those victims will remember so much about their parents, I am sure they will also remember the trips they took with them. Then, as morbid as it may seem, I thought of my own mortality and how I had always wanted another timeshare so I could give one to each child. So, even though I've still got a big mortgage, the youngest is going to need braces soon, the money I've saved for college so far probably won't get them through a semester and I'll have two weddings to pay for (both girls), suddenly the decision wasn't so tough.

This message was posted before the declines posted on Wall Street. And I am still planning on going through with the contract.

[stlrod]

I should also note I have heavily discounted rates at both BWV and VWL over Christmas (less than $400 inclusive of tax at BWV and less than $350 inlcusive of tax at WLV--for 2 bedroom units.) Even then, if you assume a point value of $10 per point, DVC is not always a bad deal. By illustration, let me explain by using the rates I had been able to obtain (more than 50% off) using the codes at BWV for both 12/23 (Choice) and 12/24 (Premier). For comparison purposes, I have used point values for standard views and included tax in the rates.


Studio 12/23 $202.40 = $22.49 per point
Studio 12/24 $202.40 = $12.65 per point
1BR 12/23 $279.40 = $15.52 per point
1BR 12/24 $279.40 = $8.73 per point
2BR 12/23 $387.40 = $16.14 per point
2BR 12/24 $387.40 = $8.80 per point

Thus, in only two instances, the point value came out to less than the generally accepted "artificial point value." I had could also run the same comparisons for OKW and it would come out slightly better for DVC. For WLV, it would come out slight worse for DVC because the Code rates were discounted more (probably because of more avialability to Disney as the resort is not sold out to members.) To be honest, I cannot imaging Disney offering rates much below the Code rate currently being offered. Otherwise, they would be "de-valuing" their own worth for the future (even if I as a lawyer needed more work as a lawyer --I don't --I wouldn't substantially lower my hourly rate just to get it -- otheriwse, I de-value my reputation and worth for the future.

Finally, I should explain in fairness with regard to my first post on this subject that I bought DVC HH (I own a Marriott timeshare in Orlando.) I cannot honestly say I would make the same decision right now if I were buying in Orlando (frankly, I'd be inlcined to buy Marriott in Orlando for reasons unrelated to price.) Fortunately, it's not a decision I need to make because only YOU can decide what is right and whatever decision you make, it will be the RIGHT one.

[dmadman43]

Our lives in America will forever be impacted

Yes, but our economy will not be. History proves that. So, I'm not sure how the actual attacks themselves affect a major purchase decision

Indeed the present and future state of your personal economic situation should be your guide, not random external factors over which you have no control. If you have confidence that your purchase will give the return on your investment over the next 40 years (and that is total utility, not just $$), and you can afford it today, then go for it. For example, if you pay $2.00 for a drink at WDW, that means to you the drink is worth *more* than $2.00, otherwise you would not have spent the $2.00. Same goes for your DVC purchase. If you think your money can be better spent on something you see as more valuable, then don't buy into DVC. If you will get better value out of your money by shoving it under the mattress, then do that. That would mean you have little confidence in the near term future and your money is better "spent" by not spending it.

I rather doubt the actual price of points will come down anytime soon.

As for the current state of the market, any financial analyst will tell you that this is probably a good time to buy, as prices are low. The will go up. Yea, it will be tough over the next days and weeks, but over the next years? Unlikely.

[TheWho]

Stlrod,
Great points, well said!!! Lately, I've been a little less interested in planning for my retirement years (which are 25 years away) and placing more emphasis on enjoying today.

[GB]

All time shares end in the year 2042. If you wait to purchase you will be paying more money per point and you wont have as much time to use it.

Gina

[Joeblack]

Lisa: With people thinking ylike you, the USA will surely come out victorious of this situation. I live in a country where the currency devaluated 600% in only one month while the salaries stayed the same. You know the main reason? Fear and rumours that caused a cash run out of banks and forced the entire banking system to collapse and capitals to flee the country. The governemnt was overthrown because of that and I have to say it looked like the end. One and a half years later, we are alive and kicking and people are spending way more than before. Things are not the way they used to, though.

It is true that the next few days are key in making financial decisions, not just for Americans but for the whole world (Where do you think most countries invest their money?), but if people become their own worst enemy by giving in to fear, I agree that the worst damage of the attacks is yet to come.

If the markets are not given the impression of recovery, I am afraid to say, lots of money currently in the US will go to other places. The media are doing a good job by not over-covering Wall Street's downturn, but people also have to cooperate and help bring the economy up. The only way to do that? Investing and spending in their country and being positive that better days will come.

Also, don't forget that in times where everything seems dark and confusing, great opportunities arise. The world order wil never be the same, but we have to keep our eyes open to grasp those opportunities.

As far as I am converned, if BCV are pre-sold, I will be buying there. I hope DVC gives an additional incentive to buyers.

[MickeyMcMouse]

As a new 'Member', I have been reading these boards for a couple of months. This was one of the few places we could find unbiased answers to some of the questions we had. We have been to disney around 12 or 13 times since 1993. Last year, after visiting three times in eight months, we decided that DVC was for us.

My pack was posted the day after the terrorist attacks and was delayed. Was this a second chance to pull out? No. Living in Scottish Borders, near Lockerbie, we have also been affected by terrorism, but when you alter your lifestyle, you are letting these 'people' win. Of course,in the short term, there may have to be changes, but we bought into DVC not just for now, but for our FUTURE and our childrens future.

So no, we've not delayed. The only thing we regret is not having done this years ago !


With best regards
David
Scotland, United Kingdom

[Pluto4President]

David, welcome to the DVC and the DIS!

You won't regret your decision!

[jcodespoti]

Leaving for BWV on saturday (yes buy air). I will not let bad people alter my lifestyle so much that I will be scared to go out of my house. I was in NY on 9/8 an looked at the beautiful NY skyline. I still can't believe that the WTC is gone and 6500+ people lost there lives. I have friends that have not heard from loved ones or other friends since 9/11 and I hate to say it but probaly never will. My heart goes out to those people.
But to give in and not travel, and not enjoy life, to hide and wait for the sky to drop is not for me.


Joe in CT

[sumessefui]

The decision to buy into the DVC should be the same now as it was before the cowardly attack on our nation. If you really want it, and can afford it, buy it. The economy was due for a downturn, but nothing worse than we saw in 1987. The cowards who attacked us, want to destroy our way of life, and causing our economy to fail will be a large step in that direction.
If we fail to go on with our lives due to fear, they win. Even in the best and safest of times, no one is guaranteed that they will have a tomorrow, so we must get back to leading our normal life as soon as possible.
As one who has proudly served in the military of this great nation, even though it was a time when many looked down on you, I feel everyone has a right to their opinion. So while some who post on this board continue to be an enigma to me, may they keep posting. Jerry.

[melanieewr]

I had sent in my deposit on Sept. 10th for a 600 point contract. I did ask my husband if we should go through with it after the tragedy on the 11th. We have taken such heavy stock market losses in the last year and figured that this would hit us even harder since we had already made the decision not to sell our stocks. We are going through with our dvc purchase. We will continue our lives and will not let terrorists make our decisions. We will enjoy ourselves at WDW and continue to visit many times a year for as long as we can. If circumstances change we will work through those changes and do what we have to do. America will be stronger than ever!

God Bless and Heal America

Melanie