Just bought today! but questions and concerns fill my head???

[VinceL]

OK, so i went ahead and called Disney to buy 250pts at BWV. My guide, Mark Webb is out this week so i was directed to someone named Teresa Siles. I was a little concerned so i wanted to get some feedback from the forum. When I had talked to Mark, he said our use year would be Sept and we would have 2006 points, this was just on Friday. When Teresa put me on hold to re-check the inventory, she said that she would have to give me two contracts to equal the 250pts and that the use year would be December. I told her Mark had said Sept, but she told me these points were gone, and Decemeber was the best they could do. Does this make sense? Also, with the two contracts, she said i'll have two separate down payments and two final payments, alone with two contracts to sign coming in the mail. Does this make sense also? I know from reading the forums everyone says to have your contract split, but is that what shes doing? Also, she said that we can not book reservations until our info is in the system and that will take a couple days. She said by the time the paperwork comes in the mail, we should be able to book. So again, does this make sense?

I guess i have 3 questions then, am i being jerked around about the Sept vs. December use year, or is that normal. Are the two contracts what i want? and is it true i can't make ressies for a couple days?

I just feel like maybe i should have waited for Mark to come back or maybe i should have just bought on the resale market! I thought going thru Disney would be easier, but i really felt like i was rushed along on the phone. I asked a few questions, and then was prompted for my CC#, SS# and have a nice day.

Please help! Thanks

 

[Trebor]

Just from a casual first read of your posting, I don't see anything out of line.

The 250 point contract Mark told you about must have been sold over the weekend, so Teresa found you two other contracts in their inventory whose point total equaled 250. I believe that when you do this through Disney, the two contracts need to have the same use year, so maybe all she could find (the best she could find) was December.

If they're two separate contracts, it doesn't sound strange to me that you'd have to pay for each one separately. Hopefully, the combined downpayments for the two is the same that you would have paid for the single contract.

I was always under the impression (from reading the boards) that if you bought through Disney, you were in the system right away and could book a trip immediately. Perhaps that was for buying a new contract at SSR. Obviously, it makes sense that you have to be in the system before you can make a reservation, so the question is about taking a couple of days to get into the system (still better than the wait after closing on a resale).

To me, the biggest thing that doesn't make sense is the way you felt you were rushed on the phone -- I always thought (again, from reading the boards) that they were very low-pressure and very willing to answer your questions.

 

[Slakk]

OK, so i went ahead and called Disney to buy 250pts at BWV. My guide, Mark Webb is out this week so i was directed to someone named Teresa Siles. I was a little concerned so i wanted to get some feedback from the forum. When I had talked to Mark, he said our use year would be Sept and we would have 2006 points, this was just on Friday. When Teresa put me on hold to re-check the inventory, she said that she would have to give me two contracts to equal the 250pts and that the use year would be December. I told her Mark had said Sept, but she told me these points were gone, and Decemeber was the best they could do. Does this make sense? Also, with the two contracts, she said i'll have two separate down payments and two final payments, alone with two contracts to sign coming in the mail. Does this make sense also? I know from reading the forums everyone says to have your contract split, but is that what shes doing? Also, she said that we can not book reservations until our info is in the system and that will take a couple days. She said by the time the paperwork comes in the mail, we should be able to book. So again, does this make sense?

I guess i have 3 questions then, am i being jerked around about the Sept vs. December use year, or is that normal. Are the two contracts what i want? and is it true i can't make ressies for a couple days?

I just feel like maybe i should have waited for Mark to come back or maybe i should have just bought on the resale market! I thought going thru Disney would be easier, but i really felt like i was rushed along on the phone. I asked a few questions, and then was prompted for my CC#, SS# and have a nice day.

Please help! Thanks

Sounds correct to me...you will have two payments because you have two contracts...think of it as having two credit cards each with their own balance.

They cannot sell points that are not available and since BWV is sold out - you get what you can get.

Theresa probably thought your guide had already gone over all of your questions and since she is not your guide she probably thought it would be inappropriate for her to do more than what she had done.

Everything she said sounds correct....glad you joined.

 

[dis-happy]

If you go through resale it will take about 6 weeks before you are in the system, plus you will have to pay double closing costs for 2 contracts. It may be worth it to figure things out with this current contract. You still have several days to change your mind. When does Mark return?

My understanding is that Disney can re-package their points any way they want to, so it seems a bit odd that 250 points have to be split up, unless it has something to do with availability at certain buildings or something (I know nothing about this, just speculating). BUT you really do WANT 2 contracts with that many points. How are they divided? 150 and 100? In your shoes I would be happy with that. But if it's 200 and 50 I would asked to have it changed.

BTW, Welcome Home!

PS. I just noticed it's BWV, not SSR. The BWV Sept. points are probably all gone. I waited 3 months for a 150 pt. (75+75) add on in my UY last year.

 

[VinceL]

yeah the contract was split 150 / 100. I was just worried that the contracts would be separate and i would have to make separate ressies for each. I'm hoping this is not the case and that basically even though i'm buying two contracts, they will be considered one when it comes to booking, banking etc. 250pts total.

 

[mikron]

The december uy can be a little confusing, december 06 for 07 points, december 07 for 08 points. With december being end of year you think the uy year up and not foward. I have one contract in december, got the hang quickly. I agree with the reply that I would not want a small 2nd contract. Have you looked at resales for what you would rather have for points and size.

 

[CSUFSteve]

I'm also seriously considering throwing my hat into the DVC-ownership ring.

I stayed at SSR previously with an AP discount. I know people seem to 'dis on the hotel, but I really liked the resort and like the DD view. We had a 1-BR and were very pleased. I'm tempted now specifically b/c of the member referral deal going on - with published rates at 101/pt, the deal seems like a significant deal.

But I also live in CA and am aware that Disney will soon announce DVC at Grand Californian.

My desired point level is 250. But based on what I've read here, it seems like it'd be advantageous for me to buy 150 now at SSR under the promo, and then a separate 100 add-on when GCH goes on sale. If I'm understanding correctly, the main reasons to buy them separately would be:
1) I get an 11-month ressie window at GCH with my 100-pt add-on contract
2) It's easier from a potential resale perspective

Obviously I'd also have my 11-month ressie window at SSR with my 150-pt master contract, right?

The downside of course is that I'll miss out on the current promo for the other 100 points and who knows what per point price I'll pay when GCH is ultimately sold. Right?

Although I will be the primary user of the points, I definitely have family in mind here. I average 2 trips/year to WDW and uncountable trips to DLR. Obviously most of the time I stay with mom/friends in SoCal, but there are times we like to splurge. I'm somewhat wondering if I should get 150-pts when GCH goes on sale, but would that automatically have a separate contract and separate UY as a result of the 150-size?

Also, while I know everyone talks about not thinking of DVC as a way to save money but rather as an emotional investment, still, if, in the long run, you are not saving money as a result of increases in annual dues, then wouldn't it make more sense to NOT buy into DVC and use the cash you'd save on things like WDW food, souviners, etc.? I did a spreadsheet of potential per year costs over the lifetime of an SSR contract. I did a Best Case, Average Case, and Worst Case scenario (based on the fact that Disney is legally entitled to raise MF 15% every year). In the best case, in the final year of the SSR contract, the per year cost ended up being around $3000 for 250 points (in 2007 dollars). In the average case, $8400. In the worst case (15% increase every year - admittedly unrealistic), $115k.

I posted it at surgeicalproductions.com/DVC.xls (it's an Excel spreadsheet). I welcome comments on it as well as suggestions to make it more accurate and real-world. Oh, and the buy-in cost is based on Disney's $1500 off promo ($91/pt), not the member referral promo.

 

[Tigger1]

My guy is Mark also. I say its likely that the other contract sold.

I am from Oklahoma are you Vince? I am thinking that the guide depends on where you live but I could be wrong.

Tigger

 

[Slakk]

If you go through resale it will take about 6 weeks before you are in the system, plus you will have to pay double closing costs for 2 contracts. It may be worth it to figure things out with this current contract. You still have several days to change your mind. When does Mark return?

My understanding is that Disney can re-package their points any way they want to, so it seems a bit odd that 250 points have to be split up, unless it has something to do with availability at certain buildings or something (I know nothing about this, just speculating). BUT you really do WANT 2 contracts with that many points. How are they divided? 150 and 100? In your shoes I would be happy with that. But if it's 200 and 50 I would asked to have it changed.

BTW, Welcome Home!

PS. I just noticed it's BWV, not SSR. The BWV Sept. points are probably all gone. I waited 3 months for a 150 pt. (75+75) add on in my UY last year.

Should you wish to resell the points a split is MUCH better. Lets say you want to sell 100 points and buy at another resort - if you have one big contract you would have to sell the whole thing then rebuy. With a split you can just sell part.

I personally will only add on in 25 or 50 point batches. For planning as long at they are the same resort you can treat them like one.

 

[LisaS]

It sounds like the Sep UY points were sold sometime between the time you talked with your guide and when you called back to make the purchase. If you really want a Sep UY, you can pass on these December points and ask to be put on a waiting list. You may not have to wait too long to get the points -- a few weeks? worst case a couple of months?

RE: getting two contracts instead of one, when you purchase a sold out resort from Disney, they are reselling a contract that they bought back via ROFR or acquired due to default or whatever. They can split up a large contract into smaller one but they cannot combine smaller contracts into a larger one. So if you want 250 points and they have a 400-point contract available, they can break up that contract and create a 250-point contract for you. However if they have a 100-point contract and a 150-point contract, they either cannot or will not create one 250-point contract from those two contracts. This is not a problem however. If the contracts are the same Use Year, they will be set up as a "master" and "add on" and will function as one contract for the purposes of making reservations and banking your points. And, as others have mentioned, you have the advantage of being able to sell off one of the contracts if you ever want to "downsize" the number of points you own -- something you cannot do if all of the points are in one contract.

If you go ahead with the purchase, you should have the points in your account within 24 hours or so after you pay your deposit. You can then make a reservation, even though you will still be weeks away from closing on your purchase and paying the dues on those points. By the way, the dues will be pro-rated for this year from the date you get the points, but you won't be billed for them until after you close.

 

[Erie Islands]

Oh...and by the way, Vince...Welcome Home!

 

[Y-ASK]

I was just worried that the contracts would be separate and i would have to make separate ressies for each. I'm hoping this is not the case

They can take points from any contract, as long as the time frame fits the rules, and make one reservation with no problem. Your deal is even easier, you've got two in the same use year and same resort. Your only hassle I can see is that if you bank your points make sure they bank either the right contract or both contracts depending on what you are planning to do.


Y-ASK

 

[LisaS]

I'm also seriously considering throwing my hat into the DVC-ownership ring.

CSUFSteve -- Welcome to the DVC boards. If you start a new thread with your questions rather than burying them inside a thread on a completely different topic, you are more likely to get some responses.

 

[LisaS]

They can take points from any contract, as long as the time frame fits the rules, and make one reservation with no problem. Your deal is even easier, you've got two in the same use year and same resort. Your only hassle I can see is that if you bank your points make sure they bank either the right contract or both contracts depending on what you are planning to do.


Y-ASK

I don't see banking as a hassle with two contracts for the same resort and Use Year. If they were for different resorts, then I would agree that you need to manage the points carefully. The only time I can see it would make a difference in this case would be if he decides to sell one of the contracts and wants to either strip that particular contract of all points prior to sale or bank some points for that contract to help it sell more quickly. Otherwise, they function as one pool of points. Or am I missing something?

 

[chainkid]

Getting two separate contracts with the same use year is a good thing but not being able to get in the system right away is strange. I bought a 100 pt contract thru Disney for BWV and after making the down payment by credit card i was in the system immediately.

 

[VinceL]

Ok, thanks for all the good info!

My points are now available. I rec'd a call today and was given our membership number. On another note, does anyone have a good thread that shows the info on banking and borrowing. I'm a bit hazy about exactly how that all works.

Thanks

 

[ClarabelleCow]

Getting two separate contracts with the same use year is a good thing but not being able to get in the system right away is strange. I bought a 100 pt contract thru Disney for BWV and after making the down payment by credit card i was in the system immediately.

Wouldn't that have been an add-on, and if so, you were already in the system?

 

[LisaS]

On another note, does anyone have a good thread that shows the info on banking and borrowing. I'm a bit hazy about exactly how that all works.

These subjects come up all the time so just browse through some threads here and you will find lots of questions (and responses) on those topics. But first, take a look at VAScubaGuy's "unofficial DVC" website. He has some good info on banking and borrowing, among other things. Here is the link: http://members.cox.net/disneyvacationclub/ To get to the banking and borrowing topics, click on "DVC Membership Info" in the left-hand menu, then click on "Understanding Vacation Points" on the menu at the top of the page.

This specific page from his site is a good one to bookmark because it has a handy chart of the banking deadines: http://members.cox.net/disneyvacationclub/pages/Charts/charts.htm

 

[shellbelle1971]

My desired point level is 250. But based on what I've read here, it seems like it'd be advantageous for me to buy 150 now at SSR under the promo, and then a separate 100 add-on when GCH goes on sale. If I'm understanding correctly, the main reasons to buy them separately would be:
1) I get an 11-month ressie window at GCH with my 100-pt add-on contract
2) It's easier from a potential resale perspective

Obviously I'd also have my 11-month ressie window at SSR with my 150-pt master contract, right?

The downside of course is that I'll miss out on the current promo for the other 100 points and who knows what per point price I'll pay when GCH is ultimately sold. Right?

Although I will be the primary user of the points, I definitely have family in mind here. I average 2 trips/year to WDW and uncountable trips to DLR. Obviously most of the time I stay with mom/friends in SoCal, but there are times we like to splurge. I'm somewhat wondering if I should get 150-pts when GCH goes on sale, but would that automatically have a separate contract and separate UY as a result of the 150-size?

.

It's hard to offer advice on this--nobody knows how the points will break out for the GC yet. Actually, nobody knows for sure that it will even be built...but I digress...

Say you always stay in studios during low season, and (wishful thinking, I know) the GC costs fewer points per night than OKW...100 points there could conceivably be too many.

Or say the GC costs more points per night than VWL or BCV, and you always go Christmas week...then 100 points might not get you very far.

I guess what I'm saying is you'll have to wait (probably a long time) to get a good idea of how many points you would need/want at the GC.

Make sense? Kind of?