DVC Presentation.....we finally saw it...

[thegoofyfamily]

They offered us Super Fastpasses for all our family for our next park trip. We were going to Epcot the next day, so why not......we really always wanted the details to see if it was something that would be of benefit for our family..... OMG!

I guess they're really for families that don't have motorhomes, campers or tents because I can't believe they agreed to do a presentation for us. They tried to sell us on a cruise, but the points to do a cruise would cost us 3 years of points and I'm pretty sure we'd still have to pay cash for our family. And then the yearly dues...... WOW!

I think if we stayed at a condo or resort on our trips, it might work......but it would still be hard to pay those dues. And, it seems crazy to finance it and crazier to lure people in by mentioning the tax write off for the interest.

We left with only our fast passes, which we were very grateful for. And, I liked that it wasn't a high pressure sell....... Am I missing something here? Are there any DVC members here that stay at the campground that find a benefit that I don't see?

 

[3BoysRDisneyFreaks]

I am not a motor home owner, I stay in condos or houses when we visit the world and I cannot fathom paying retail for DVC and then the yearly fees. And then to not have it for the rest of my life is also a negative for me.

Glad you got your fast passes.

Sarah

 

[bama_ed]

DVC ownership benefits a specific group of people.

If you visit WDW annually and stay in a Delux resort or higher, it makes economic sense (if paying cash. Financing never wins). Of course you are looking at a long time line 30-40 yrs but even short term doesnt work unless unless you luck into a price bind.

Those of us with an Rv or trailer are a different group for the most part. Our camper has literally paid for itself since we have used it on nearly every family vacation and trip in the last nine years (washington dc in december not withstanding).

I dont begrudge anyone who does DVC - it's their money to do with what they will.

Having said this, i've TRIED to make the business case work (business analytics is what i do for a living) but it doesnt for me.

Buying direct from Disney costs more and those points have more flex but if i were in the market i would buy resale to just stay at WDW. I have never had a half day to burn on this presentation and i am afraid i am not the type of customer they want.

So how many times did you ride Soarin' at Epcot with your FP?

Bama Ed

 

[thegoofyfamily]

So how many times did you ride Soarin' at Epcot with your FP?

Bama Ed

LOL....the kids and DH rode Soarin', Test Track and we got on the boat ride in Norway. Everybody wins!

Yeah....we tried to make the numbers work for us....just couldn't get past the dues and DH said we could put the $20K in an investment and after 2 years, we'd have the money for a cruise......and still have the flexibility to go on any cruise line.

 

[super_camper]

We also looked into this a couple of years ago and couldn't make the math work for us. We didn't spend anywhere near a half day in the presentation. We got super fast passes for 3 visits, very useful to ride soarin a couple of times in a row when really really busy.

 

[thegoofyfamily]

Yeah......they picked us up at 9:40 am and we were back at our campsite at noon. Well worth the passes in late March!

 

[North of Mouse]

They sent out a card to us last year to do the presentation by phone. They offered a $40 GC which I decided was too good to pass up. I called, talked with a very friendly CM with no pressure sales talk at all. She said she'd send some material to look over. She did, we looked it over, she called back once to 'check in' and that was that!

We had no intention of buying in and told her so initially, as we have a MH and have 'no' desire to stay in hotels. Our DD does have DVC @ Boardwalk, but bought several years ago when it was a better deal. She always sells one of her weeks at Food & wine Festival - it pays all yearly fees, plus has paid back most of her investment. It would not work for us though.

 

[my3princes]

We are long time Fort Wilderness campers, but we live in Vermont. We typically take our camper down every third year and book a site for 3 weeks on points, buy annual passes and take an earlier trip the next summer for 3 weeks at a DVC resort. So we get 6 weeks vacation out of 3 years of DVC points. We have more than recouped our initial investment. This last summer we used our DVC points at Aulani in Hawaii, couldn't have affored that luxury without DVC ownership. For us it is the best of both worlds

 

[John VN]

Bought OKW in '97 then an add-on of SSR. Worked great for us but then went back to MHing. Sold them and came out ahead. Never stayed in a GV but the One Bedroom at OKW are great!

 

[thegoofyfamily]

We are long time Fort Wilderness campers, but we live in Vermont. We typically take our camper down every third year and book a site for 3 weeks on points, buy annual passes and take an earlier trip the next summer for 3 weeks at a DVC resort. So we get 6 weeks vacation out of 3 years of DVC points. We have more than recouped our initial investment. This last summer we used our DVC points at Aulani in Hawaii, couldn't have affored that luxury without DVC ownership. For us it is the best of both worlds

It absolutely seems to work for those that don't stay exclusively in the campground. And Hawaii sounds amazing.

I did ask our DVC dude about letting people "rent" our points or selling our "interest" and he mentioned that once the membership is "transferred", the options for being able to use it outside the Disney official timeshares....RCI, cruise lines, etc. go away.

I did like that they said Disney would buy it back @ about 80% of the current value. Just wondered if we'd be going to Disney as much as we do now in say....5 years....... I'd hate to have to start managing selling my weeks and making sure the numbers still made sense.

 

[Dean]

They offered us Super Fastpasses for all our family for our next park trip. We were going to Epcot the next day, so why not......we really always wanted the details to see if it was something that would be of benefit for our family..... OMG!

I guess they're really for families that don't have motorhomes, campers or tents because I can't believe they agreed to do a presentation for us. They tried to sell us on a cruise, but the points to do a cruise would cost us 3 years of points and I'm pretty sure we'd still have to pay cash for our family. And then the yearly dues...... WOW!

I think if we stayed at a condo or resort on our trips, it might work......but it would still be hard to pay those dues. And, it seems crazy to finance it and crazier to lure people in by mentioning the tax write off for the interest.

We left with only our fast passes, which we were very grateful for. And, I liked that it wasn't a high pressure sell....... Am I missing something here? Are there any DVC members here that stay at the campground that find a benefit that I don't see?

It seems you picked up on the correct interpretation of the options. Poor choice to use for non DVC resort stays and options, to finance and to buy if it's not in your budget both up front and yearly. However, if you look at resale at say $60 a point for some resorts (give or take) quite a big savings compared to resale. You do give up the cash type exchange options like DCL and other disney resorts but not RCI or the Buena Vista Trading Company. The yearly dues are the same.

It absolutely seems to work for those that don't stay exclusively in the campground. And Hawaii sounds amazing.

I did ask our DVC dude about letting people "rent" our points or selling our "interest" and he mentioned that once the membership is "transferred", the options for being able to use it outside the Disney official timeshares....RCI, cruise lines, etc. go away.

I did like that they said Disney would buy it back @ about 80% of the current value. Just wondered if we'd be going to Disney as much as we do now in say....5 years....... I'd hate to have to start managing selling my weeks and making sure the numbers still made sense.

If you were told they'd buy it back directly, you were told incorrectly. You will not get 80% based on retail purchases, you're looking at about 50% compared to retail (again, give or take). The only time I've heard of DVD offering to buy back directly was for Beach Club Villas and that offer was less than 80% of the then going resale price. Once you sell the buyer is a resale buyer like anyone else but you can transfer it to family gratis and keep the benefits if you have them. You can rent but it's not a good return overall. They do have Right of First Refusal which means they can step in and buy it once you have a buyer and contract. It mostly helps them and not the seller.

 

[lodge]

We own DVC timeshares at several resorts. We also like to camp at the Fort. Each accomodation option has it's own benefit (like theme park view at Bay Lake Tower, SAB pool at Beach Club, savannah view at Animal Kingdom, lodge-like feel at Wilderness, community feel and camping at the Fort). We like to change it up each time we go. For us, going to Disney is not just about the parks, and each location has its own experience to offer.

 

[JimMIA]

I did like that they said Disney would buy it back @ about 80% of the current value. Just wondered if we'd be going to Disney as much as we do now in say....5 years....... I'd hate to have to start managing selling my weeks and making sure the numbers still made sense.

This is either a huge misunderstanding or the DVC timeshare salesman was just plain lying.

DVC does not buy contracts back. They foreclose contracts for nonpayment, and they have the option of stepping into a resale transaction and taking the place of the buyer at the same terms (a process called Right of First Refusal or ROFR).

The Beach Club situations Dean mentioned were several years ago, for a very short time, and DVC was paying about $50-55 at a time when resales were going for about $95-100.

The information the salesman gave you about RCI is also incorrect. The ability to use RCI with resale purchases remains intact.

Two important pieces of misinformation makes me think the salesman was just flat lying to you.

 

[thegoofyfamily]

This is either a huge misunderstanding or the DVC timeshare salesman was just plain lying.

DVC does not buy contracts back. They foreclose contracts for nonpayment, and they have the option of stepping into a resale transaction and taking the place of the buyer at the same terms (a process called Right of First Refusal or ROFR).

The Beach Club situations Dean mentioned were several years ago, for a very short time, and DVC was paying about $50-55 at a time when resales were going for about $95-100.

The information the salesman gave you about RCI is also incorrect. The ability to use RCI with resale purchases remains intact.

Two important pieces of misinformation makes me think the salesman was just flat lying to you.

I would not say he was lying because we didn't write any of it down. I may have misinterpreted what he said. I think after I determined that I couldn't get past the yearly dues, and going on a yearly cruise wasn't really a great option with DVC, I might have tuned out.

We're campers and cruisers I guess. DH and I travel through his job and we've gone to some amazing places all over the world, so it would only make sense if it worked within our family vacations. I really wanted to make it work on a yearly cruise....and I tried HARD!

When we go to Disney World, we just couldn't stay anywhere else, but our beloved Fort Wilderness.

 

[Minnie's Mate]

I may have misunderstood so forgive me if I did, but I was told that Disney rarely exercises their right of first refusal unless the seller is selling for significantly less than the reseller's market. If they are selling for the "going rate" Disney doesn't typically buy the points back. Disney is only interested in buying them back to maintain the value of the new sales. As I understand it, DVC is often for sale through time share resellers in the Orlando area.

 

[Dean]

I may have misunderstood so forgive me if I did, but I was told that Disney rarely exercises their right of first refusal unless the seller is selling for significantly less than the reseller's market. If they are selling for the "going rate" Disney doesn't typically buy the points back. Disney is only interested in buying them back to maintain the value of the new sales. As I understand it, DVC is often for sale through time share resellers in the Orlando area.

I think it depends on when in time you look. Until a few years ago they were fairly active. Their usual approach has been to keep you guessing so they might buy one contract and let another go through that was exactly the same. With the economy changes, DVC (and others including Bluegreen and Marriott) basically didn't buy anything back. That's changing with many of the timeshare companies right now. BG has been fairly active in this area very recently. They'll likely have a flurry of buy backs then things will settle down for a while but the resale prices will increase temporarily.