unbelievable!! Can't afford this! Please help

[vinmar4]

I was just in pain thinking of you paying nearly 6K to get OUT of something. When that "something" could be SO valuable to your family.

Sounds like we bought at the same time as you, we bought at Bay Lake and I think that that time they were around the same cost, and yet we only got 160. How much would we LOVE to have 320 to play with, you have NO idea.....

We financed as well, so I know half of your pain, LOL. My long-talked about plan to pay it off quicker hasn't materialized, so comparing what we've paid to what we have left to pay is hard...but at the same time, oh the JOY we have gotten from that money.

I would just hate to see you make a decision based on dues, then buy back in later only to face the same, or higher, dues. Even when financing, dues are still the higher total price over the years that one owns DVC.

I know what you mean. We are going to look at all the different options, but you are right, if we get out of the loan now if we buy later resale we are still going to have the annual fees. we would hate to loose it too. thanks for your advice. Renting is sounding better and better as an option.

 

[vinmar4]

I'd be happy to assist you with the rental of your points. Animal Kingdom Villas are in extremely high demand right now. Full details of my program are available at http://www.dvcrequest.com/associate/

I wish you the best with your situation.

~ David

Thanks David,
I will for sure contact you if we decide to rent

 

[vinmar4]

I support this idea too.
You could rent all your points and get 3200$. You could even try to rent those yourself, with a bit of effort you could get something more, but many report that with David you can rent your points easily (I've not done this myself).
So you could skip this year vacation at Disney, pay the MF and have some money to repay the loan. Or you could rent half the point, pay the MF and have a shorted vacation.

Selling your contract it's a big loss now, I would keep that option only as last resort.

I agree with you, thanks for your opinion
you guys are really great!!

 

[ssawka]

When we were considering buying in to DVC I put together a spreadsheet to estimate the dues each year. I used 3.5% as the average annual increase. I paid just under $15,000 for my BWV contract but I estimate I will pay over $50,000 in dues if I hold on to it until it expires on Jan 31, 2041. In the last year, assuming an average annual increase of 3.5%, dues will be over $15 per point! But who knows what a hotel room will cost by that time.

Yes, 3.5% was probably a good number to use when you bought, but I think what is throwing owners off is that MFs seem to be escalating at a much higher rate than that. MFs at BLT are going up by 6% next year. If we did not buy when we did (June 2009) I don't think we could afford to buy, at least not at BLT.

Financing actually paid off well for us since we didn't really have the money saved when we bought. We paid off the Loans on our contracts in 1 year, so we paid the 11% and took the tax deduction. In that year however, the price per point at BLT went up 22%. I agree that financing points does not make sense unless you know you will pay it off quickly.

 

[crisi]

Yes, 3.5% was probably a good number to use when you bought, but I think what is throwing owners off is that MFs seem to be escalating at a much higher rate than that. MFs at BLT are going up by 6% next year. If we did not buy when we did (June 2009) I don't think we could afford to buy, at least not at BLT.
.

Additionally, dues are going up, living expenses are going up, but most people have had fairly stagnant salaries. So what was affordable three years ago may no longer be. And no one really plans for groceries getting more expensive and the heat bill going up while getting paid the same.

 

[OrangeCountyCommuter]

I was just in pain thinking of you paying nearly 6K to get OUT of something. When that "something" could be SO valuable to your family.

Sounds like we bought at the same time as you, we bought at Bay Lake and I think that that time they were around the same cost, and yet we only got 160. How much would we LOVE to have 320 to play with, you have NO idea.....

We financed as well, so I know half of your pain, LOL. My long-talked about plan to pay it off quicker hasn't materialized, so comparing what we've paid to what we have left to pay is hard...but at the same time, oh the JOY we have gotten from that money.

I would just hate to see you make a decision based on dues, then buy back in later only to face the same, or higher, dues. Even when financing, dues are still the higher total price over the years that one owns DVC.

"so valuable" But OP indicates family is no longer all that excited about going to Disney Sorry but it doesn't sound like they are "valuable" to them if that's really the case.

I am not a fan of the "keep at any cost" or "Rent" chants that occur on here.

DVC is not for everyone. If OP doesn't think the 'cost' is worth the 'reward' then the points are actually not valuable at all.

Disney makes a lot of money off of the "impluse" purchase. The folks who get to Disney, fall in love and think "we want to do this forever" then the kids grow up and maybe they don't want to do it "forever" or even "next year" LOL!

I have sold a lot of points over the past few years as my vacation habits changed. I still go to Disney but not as often. My new job has a lot less vacation and "freedom" then my old one so I actually can't go play at Disney anytime I want....

 

[Dean]

Each contract is separate and they each have their own loan. Paying off one doesn't affect the others.

Defaulting puts you on the DVD black list and any future direct purchase would be on a cash bases only and they would require monthly dues payments.

Bill

It would surprise me if this were the case for contracts bought as a group. Even if it is this way, I bet they have the right to call the loan and I bet they do if there are payment issues on any of them. They can also block the entire account if one of them is behind.

 

[DizBub]

I am not a fan of the "keep at any cost" or "Rent" chants that occur on here.

DVC is not for everyone. If OP doesn't think the 'cost' is worth the 'reward' then the points are actually not valuable at all.

Disney makes a lot of money off of the "impluse" purchase. The folks who get to Disney, fall in love and think "we want to do this forever" then the kids grow up and maybe they don't want to do it "forever" or even "next year" LOL!

You make some very good points here but I think that OP and others in this situation should carefully consider their options. Especially since they may still owe so much on their loans and could potenially lose thousands just unloading contracts in panic mode. If they can rent their points to cover MFs and maybe help to pay down their loan this year it could give them some breathing room and time to decide what they really want to do.

Knee-jerk and emotional/impulse actions run both ways.

 

[CaptDadSparrow]

Sure, but you're going to have to drill down a bit.

Here's a link to the ROFR thread, Section V, which shows actual reported transactions (not asking prices) which either passed ROFR or which Disney took via ROFR. Section V only covers 2012 transactions, so you'll have to do some homework to get the full picture.

If you follow that back to about Section II, you will probably find the early resales of AKV in the $90 range. As the current report will show you, AKV is selling, and clearing ROFR, now in the low $60's.

I did some looking and that interesting. Thanks for the link.

 

[disneynutz]

It would surprise me if this were the case for contracts bought as a group. Even if it is this way, I bet they have the right to call the loan and I bet they do if there are payment issues on any of them. They can also block the entire account if one of them is behind.

My answer is in response to the question of paying off the loans, not defaulting on the loan.

The contracts and their loans are separate from other contracts/loans. You can pay off one contract, sell it and and still owe on the others.

Bill

 

[Dean]

My answer is in response to the question of paying off the loans, not defaulting on the loan.

The contracts and their loans are separate from other contracts/loans. You can pay off one contract, sell it and and still owe on the others.

Bill

Good to know but it surprises me for points bought as a unit.

 

[disneynutz]

Good to know but it surprises me for points bought as a unit.

We bought 6 - 50 point contracts at BLT when they were "giving the free cruises". DD, an adult on the membership financed her 2 contracts for about 6 months until she got her pay bonus. She paid off one contract first and then the other.

Disney doesn't consider them as a unit even though they are all in the same membership and under the same master contract.

Bill

 

[Dean]

We bought 6 - 50 point contracts at BLT when they were "giving the free cruises". DD, an adult on the membership financed her 2 contracts for about 6 months until she got her pay bonus. She paid off one contract first and then the other.

Disney doesn't consider them as a unit even though they are all in the same membership and under the same master contract.

Bill

I don't believe that's consistently been the case from what I've heard over the years but I don't have any first hand knowledge.

 

[Lil' Grumpy]

this direction has taken me aback. really? i am surprise "of the
other"...that is, the whole concept of buying a "time"--share.

also the whole selling of points or weeks or part thereof would
come into play inclduing all sorts of legal matters.

then there all the off ramps connecting the main body ( the
parts of the building one is thinking they paid money for. )

first , see what i am saying.....if this was not a real option then
how could they even offer it--multiple contacts. and then how
could there be varying amounts of weeks/points of any unit if
one person contact isn't being define by the same principle/s?

there are 365 days x the amount of units that make up the
total points. the only restriction is dividing up the sells over
the limit of a 24 hrs period. i guess they could lower each
unit by each room & each contact for having the right to
stay 24 hrs and then extend them out to 365 days. therefore,
i would think the lowest amount of "weeks" or points would
be whatever the amount necessary for a single day. then
all of those 'shares" can then be extended out from day,
to days, to a weeks & greater. that would be a real
product for sale. now whoever name/s on each contact
would not matter how long or even many units are brought
by many or the few , as long as they each have a single
day to stay. it just liked the recent change/offer to buy
additional points , one time. mist come their reserves , &
i knw most are just trying to fill a vacation..but they are
impacting the other owners because they are opening up
more rooms to be off the market under the 7 mos
periods.

just an added observation, as i been trying to learn the
ins & outs of the dvc system---- but many of their "ways"
are just mind boggling.

& i have alwys wonder....why do dvc chose certain amounts
that they limit new buyers?

the thing that dean brought "up'--that single families ownership
covering different contacts of time shares could not be
divided into different sections , for ex. keeping one/selling 2
if they have 3 separate contacts....what control measures
for the dvc company to do this? time to me begins @ 24hrs
..and up from there ...while shares are all the owners
that make up the resort. so the only reasonable logic for
dvc to do this..would prevent any owner from resales- but
of course, no ways to prevent defaulting.

one thing that bothers me , how dvc tolerated the vandalism
and did nothing to the managers turning a blind eye. ( i talk
to many of the workers and their frustrations were clear.)

 

[DVCanadian]

Hello to all,
I'm starting to beleive that we made a mistake when buying the 320points that we got at AKV. My current yearly dues are almost 1800.00!
they are increasing at the rate of almost 200.00 per year!

I did a check Using info from
http://www.disboards.com/showthread.php?t=3025864&page=6
and yes your dues are set to be $1814 this coming year but last year your dues would have been about $1740.

This is an increase of $74 not $200.

I get that $1,800 is a lot of money but it is about $6 a month more than last year.

 

[LisaS]

I did a check Using info from
http://www.disboards.com/showthread.php?t=3025864&page=6
and yes your dues are set to be $1814 this coming year but last year your dues would have been about $1740.

This is an increase of $74 not $200.

I get that $1,800 is a lot of money but it is about $6 a month more than last year.

Good catch! The OP's dues went up $211.20 over the last two years, not in just one year.

 

[MickeyFan612]

I think renting your points is the best option for you! My best friend just rented an extra year of her 320 AKV points to cover next years dues and then used the leftover funds on her Disney vacation that she is enjoying right this minute. She used Paul Little at the DVC rental store. I've used him in the past and highly recommend! Best part is he pays $10.25/ point, you recieve 65% the day reservation is made(through paypal) and remainder the day the guests check in! Good Luck to you

 

[vinmar4]

I did a check Using info from
http://www.disboards.com/showthread.php?t=3025864&page=6
and yes your dues are set to be $1814 this coming year but last year your dues would have been about $1740.

This is an increase of $74 not $200.

I get that $1,800 is a lot of money but it is about $6 a month more than last year.

FYI
last year it was 1591.65 and now 1769.32
177.67 increase in one year

 

[DizBub]

FYI
last year it was 1591.65 and now 1769.32
177.67 increase in one year

Wow. I have 310 points at BLT. Dues went up $0.28 so mine will increase $86.80 or $7.23 per month.

I thought AKV went up $0.28 also. Something's not right.

Sorry, I just checked and AKV went up only $0.24. Your dues increase should only be $76.80 since you have 320 points. Right?

 

[vinmar4]

Wow. I have 310 points at BLT. Dues went up $0.28 so mine will increase $86.80 or $7.23 per month.

I thought AKV went up $0.28 also. Something's not right.

Sorry, I just checked and AKV went up only $0.24. Your dues increase should only be $76.80 since you have 320 points. Right?

Maybe I should call them and double check the numbers
thanks