DVC RESALES
DVC RESALES

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Old 12-27-2012, 06:31 AM   #1
goofydisneygal
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Considering DVC

Can anyone help me to understand if DVC saves money over booking direct? As a frequent Disney visitor this program remains very confusing to me. Also, can you join without putting $$ down and finance it in? We have no issue with a monthly payment but putting several thousand down would be a harder struggle. Thanks!
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Old 12-27-2012, 07:05 AM   #2
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Disney will finance, but you have to have a down payment. Depending upon your credit status, I've heard up to 20%, but usually less.
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Old 12-27-2012, 07:17 AM   #3
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The main question you have to ask yourself is whether you plan to use it every year, or every other year since you can do that with DVC by banking points. If you're going to be paying for something you don't actually use, then no.

But otherwise, it's cheaper to own DVC than to book directly even at a value resort so long as you continue to take the same type of vacation as you would if you were renting the room. For us, we're pricing the cost of points as if we'd be booking a studio -- not a 2 bedroom suite concierge level.

We made the decision to buy DVC a long long time ago, and we've done the math. But it's so hard to buy in from where we live and we never seem to have the cash to do it when we're actually there lol. We can't even order the DVC DVD from here -- if you can you should, and do your math homework before you do the tour, since you'll know what financing options are available to you. But I believe everyone has to put some money down.
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Old 12-27-2012, 07:33 AM   #4
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Some of the resale companies have financing options. But IMHO I wouldn't buy a DVC until you can save up and pay cash for it.

PS. Resales are the way to go, the prices are 1/2 the price of direct.
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Old 12-27-2012, 09:48 AM   #5
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Just to put this out there, if you finance the purchase it will likely be at an outrageous interest rate. If you don't have a plan to pay off the loan in a year or two, you'll end up paying DOUBLE the per point cost for your points. In that scenario, you surely have no chance of saving any money over booking through Disney.

I'll agree with the PP, save up your money and buy resale with cash.
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Old 12-27-2012, 10:39 AM   #6
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If the main thing is saving money, DVC isn't a good deal.

DVC is more likely to be more expensive over the long term than "other" options. It is a timeshare, not a hotel discount program. Which means you need to use those points before they expire. Even if its a tight financial year and you need to replace the furnace (you can rent your points, but no guarantees they'll be rentable)

Cheaper options:

Staying value
Staying offsite
Booking when Disney has good deals (free dining might be a better deal for you, for instance)
Renting points - particularly if you aren't going to go every year or every other year and don't want the commitment.
Buying an offsite timeshare resale (there are some great deals, some which trade into DVC).

DVC is a good deal for people who fit multiple of the following criteria (not necessarily all, but if you only fit one, it probably isn't for you).

1) Can afford to tie up five figures worth of money in a timeshare
2) Can pay cash (but might choose to finance)
3) Are going to stay in moderate or deluxe resorts if they didn't have DVC
4) Are going to go to Disney (and specifically WDW, not cruising and not - unless you own at Disneyland, Disneyland or Hawaii, unless you own at Aulani - availability at those two resorts appears to be particularly challenging for non-owners) at least every other year reliably for ten years
5) Want more space than a hotel room provides (and are willing and able to pay for it).
6) Can project a fairly stable financial future ten years out.
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Old 12-27-2012, 11:22 AM   #7
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Quote:
Originally Posted by Missyrose
Just to put this out there, if you finance the purchase it will likely be at an outrageous interest rate. If you don't have a plan to pay off the loan in a year or two, you'll end up paying DOUBLE the per point cost for your points. In that scenario, you surely have no chance of saving any money over booking through Disney.

I'll agree with the PP, save up your money and buy resale with cash.
Don't forget the interest is tax deductible because it is considered a mortgage so factor that into the equation as well (this is if financing through Disney -- not sure of the other companies that finance.
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Old 12-27-2012, 11:23 AM   #8
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If the main thing is saving money, DVC isn't a good deal.
I found the main reason for purchasing to be saving money. It is hard to imagine why anyone would pay all this money for accommodations up front if they weren't doing it to save money in the long run. I guess it is all relative: what are you saving money over? As compared to never taking a vacation, then DVC is more expensive and won't save you money. As compared to booking the same DVC resort the same dates directly from Disney, it will save you money.
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Old 12-27-2012, 12:52 PM   #9
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Originally Posted by bighoo93 View Post
I found the main reason for purchasing to be saving money. It is hard to imagine why anyone would pay all this money for accommodations up front if they weren't doing it to save money in the long run. I guess it is all relative: what are you saving money over? As compared to never taking a vacation, then DVC is more expensive and won't save you money. As compared to booking the same DVC resort the same dates directly from Disney, it will save you money.
If I had never bought DVC, I'd have a whole lot more money in the bank. The more frequently you go to WDW, the more frequently you need to buy park admission. That goes up every year. The nice bone DVC threw at us this fall doesn't happen every year.

Dining at WDW isn't cheap. The more you go, the more you spend on dining.

And then there are the souveniers. After 15 years of WDW, I finally go home with almost nothing souvenier-wise. And with all the changes to cupcakes and cookies from better tasting confectionaries, I don't spend money on those either.

But the first years, especially if you have children (and we have an only child so he got every light producing toy Disney every made and sold on a cart), you will spend a lot more on stuff. You have to have the polo shirts and sweatshirts and t-shirts. YOU HAVE TO BUY THEM, you get 10% or 20% off. You are SAVING money!! (Glug, glug, glug, drink the Kool-aid)

And if you can squeeze out one more trip on that Annual Pass, you'll even pay cash to do it because you get the AP Discounted room. (We're saving even more! Glug, glug, glug)

We've done other vacations in these 15 years that we did not use DVC points for - gone to the beach, went to the National Parks and mountains, went to DL and Southern California. Lots of different places. If I had never been to WDW, I probably wouldn't miss it. But I drank the darned Kool-aid 15 years ago and now I just have to stop drinking it. We did buy in 1997 because we liked WDW, we thought having a bigger place to stay would be nice (at least a one bedroom villa every stay - never a studio), and it was about $50 a point with dues in the neighborhood of $2.85 a point.

Nah, DVC isn't a way to save money at all. I can rent a beach condo from an owner for a lot less than I spend on park admission alone.
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Old 12-27-2012, 01:08 PM   #10
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Originally Posted by goofydisneygal View Post
Can anyone help me to understand if DVC saves money over booking direct? As a frequent Disney visitor this program remains very confusing to me. Also, can you join without putting $$ down and finance it in? We have no issue with a monthly payment but putting several thousand down would be a harder struggle. Thanks!
First, if your primary goal is to save money, financing a DVC purchase is not the way to go. Unless you have some alternative way to finance, you'd have to buy direct from Disney - which means about double the initial cost per point compared to buying resale, and a high interest rate (10%+ ...).

Second, you'll have a yearly Maintenenace Fee to pay on top of that ... (varies with the Home Resort and # points ...)

Third, if you don't consistently stay on-site at Deluxe Resorts, you won't "save" much money ...

Spend some time and read through the many informative DVC threads here on DISBoards, and also check out DVCNews.com.
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Old 12-27-2012, 01:14 PM   #11
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Originally Posted by bighoo93 View Post
I found the main reason for purchasing to be saving money. It is hard to imagine why anyone would pay all this money for accommodations up front if they weren't doing it to save money in the long run. I guess it is all relative: what are you saving money over? As compared to never taking a vacation, then DVC is more expensive and won't save you money. As compared to booking the same DVC resort the same dates directly from Disney, it will save you money.
Would you be booking a two bedroom for cash at Disney every year? I wouldn't.

We are great examples of DVC members who spend more. We are Deluxe hotel people. But we would stay in a hotel room, not a two bedroom, which is what we book now with our kids. Without DVC we'd probably be every three to five year people - with DVC we are every other year people. We've brought family and friends and paid for their rooms. We don't cook anything other than breakfast in the room. And knowing what I know now - we'd stay off site.

Now, there ARE people for whom DVC saves money over what they'd spend at Disney to start with. They never take guests (or if they do, they would have with cash reservations). They stay in studios. They were staying Deluxe to start with. They didn't travel when Disney tends to offer deals. And they were going every single year and will continue to hold that pattern. I think of all the members on this board over the years that participated in the "does DVC save your family money" conversations six of them actually seemed to be saving money.
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Old 12-27-2012, 01:47 PM   #12
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Quote:
Originally Posted by bighoo93

I found the main reason for purchasing to be saving money. It is hard to imagine why anyone would pay all this money for accommodations up front if they weren't doing it to save money in the long run. I guess it is all relative: what are you saving money over? As compared to never taking a vacation, then DVC is more expensive and won't save you money. As compared to booking the same DVC resort the same dates directly from Disney, it will save you money.
I don't think we are spending less money on Disney trips since buying DVC, but we are certainly getting more for our money. We had been staying in deluxe hotel rooms (with discounts in the range of 40%) because we have three kids and outgrew the POR rooms. We don't mind staying off site some of the time, but looking ahead long term I felt I wanted to be on site at least half of our trips. We now stay in 2BRs instead of a single hotel room. The upfront cost of our points (purchased resale and not financed) plus MFs per night in a 2BR at OKW is roughly what we were spending per night for a discounted room at a deluxe resort like the Polynesian. We would not likely ever pay rack rate for a WDW deluxe resort room, and we certainly would not pay rack rate for a 2BR villa. The beauty of DVC for us is that we can stay in those 2BR units for close to what we had been spending per night for a standard room.

To the OP...I recommend taking the monthly payment you have in mind and putting it into savings every month for a year. Then you will at least have a down payment when you buy, and you will know if that payment amount works well for you. Even better would be saving the entire purchase price and not financing. Tickets and food for trips are still a big expense even after you own DVC.

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Old 12-27-2012, 02:05 PM   #13
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We are great examples of DVC members who spend more. We are Deluxe hotel people. But we would stay in a hotel room, not a two bedroom, which is what we book now with our kids. Without DVC we'd probably be every three to five year people - with DVC we are every other year people. We've brought family and friends and paid for their rooms. We don't cook anything other than breakfast in the room. And knowing what I know now - we'd stay off site.
The OP asked about buying DVC vs. booking directly with Disney. The point of DVC is to save money vs. booking the same thing with Disney. But it is obviously true that there are alternatives to buying DVC that cost much less (including never taking a vacation) or much more. If you compare to going with different frequency, staying different amounts of time, and using different accommodations, it really isn't even about saving money or not. It is about entirely different choices, and you can compare those costs if you want.
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Old 12-27-2012, 02:07 PM   #14
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I don't think we are spending less money on Disney trips since buying DVC, but we are certainly getting more for our money.
And that is what many people find - its a good value, even if they spend more than they would. But in order for it to be a good value, saving money can't be the primary motivation - getting more for the money you spend needs to be.
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Old 12-27-2012, 02:10 PM   #15
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And that is what many people find - its a good value, even if they spend more than they would. But in order for it to be a good value, saving money can't be the primary motivation - getting more for the money you spend needs to be.
Unless you are comparing apples to apples, it isn't really a conversation about saving. It is about whether you would spend more or less for different experiences. I interpreted the OP to be talking about the cost for owning DVC vs. booking the same thing through Disney. If something else was intended, that should be specified (e.g., booking 2 weeks at a nearby Days Inn vs. 1 week owning DVC).
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