DVC RESALES
DVC RESALES

Go Back   The DIS Discussion Forums - DISboards.com > Disney Vacation Club > Purchasing DVC
facebooktwitterpinterestgoogle plusyoutubeDIS UpdatesDIS email updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read





Reply
 
Thread Tools Rate Thread Display Modes
Old 05-27-2013, 08:56 PM   #1
DisneyMarv
Mouseketeer
 
DisneyMarv's Avatar
 
Join Date: May 2013
Location: Miami,Fl
Posts: 238

wanting to buy in Direct

OK i have been wanting to buy points at the AKV for some time now i have never done the Tours but i have done some research here and there. How Much would my down payment be if i was to purchase a 160 Points contract.
__________________
“Around here, however, we don't look backwards for very long. We keep moving forward, opening up new doors and doing new things, because we're curious...and curiosity keeps leading us down new paths.”


DisneyMarv is offline   Reply With Quote
Old 05-27-2013, 09:01 PM   #2
havertown
Mouseketeer
 
Join Date: Apr 2011
Location: Schuylkill Haven, PA
Posts: 125

DVC Gold Member
Paid DVC Rent/Trade
Gold Membership

DVC finances with 10% or 20% down?


You get a better interest rate if you put more $ down
havertown is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 05-27-2013, 09:24 PM   #3
DisneyMarv
Mouseketeer
 
DisneyMarv's Avatar
 
Join Date: May 2013
Location: Miami,Fl
Posts: 238

ok thanks does any one know what the tour consist of is it worth doing ?
__________________
“Around here, however, we don't look backwards for very long. We keep moving forward, opening up new doors and doing new things, because we're curious...and curiosity keeps leading us down new paths.”


DisneyMarv is offline   Reply With Quote
Old 05-27-2013, 09:39 PM   #4
BestDadEver
New DVC Member
 
BestDadEver's Avatar
 
Join Date: Jun 2012
Location: Long Island
Posts: 672

Not sure about the better rate with more down I got the best rate with min down . You will get a cheaper payment . They base the rate on your credit . Its probably close to $2000 do on 160 points .

The tour is great cause they will have actual full size models of what your buying , but thats really it . You can see the theme and size . And they show you a video and obviously go over you pricing options .
__________________
Member since 2012


BestDadEver is offline   Reply With Quote
Old 05-27-2013, 10:31 PM   #5
DisneyMarv
Mouseketeer
 
DisneyMarv's Avatar
 
Join Date: May 2013
Location: Miami,Fl
Posts: 238

i have heard that they compare the sale of the dvc close to buying a car, and thanks i will see if i get a chance to attend a tour maybe while i'm at Disney during MNSSHP in October.
__________________
“Around here, however, we don't look backwards for very long. We keep moving forward, opening up new doors and doing new things, because we're curious...and curiosity keeps leading us down new paths.”


DisneyMarv is offline   Reply With Quote
Old 05-27-2013, 10:43 PM   #6
ELMC
DIS Veteran
 
ELMC's Avatar
 
Join Date: Jul 2011
Location: Connecticut
Posts: 1,981

Quote:
Originally Posted by DisneyMarv View Post
OK i have been wanting to buy points at the AKV for some time now i have never done the Tours but i have done some research here and there. How Much would my down payment be if i was to purchase a 160 Points contract.
It has been pointed out to me that at times I do not answer the question asked and instead go off on what seems to be a tangent (but actually isn't...agree to disagree I suppose). My position has been that it is our responsibility to not only answer the questions that are asked, but the questions that sometimes the OP does not know to ask. To that end, I have two different responses to your question. The first is a straight up answer. If you think you know everything you need to know except this one piece of information, then simply read this and close the browser. The second is a more in depth discussion of the path you are seeking to embark upon. If you want to learn more about what you're looking to get into and why, read response #2.

Response #1:

$2,320. Perhaps a little less depending on incentives.



Response #2:

It's interesting that the title of your thread is "want to buy in direct". There are really three separate issues there, and I'm not sure the previous responses identified two of them. First off, please know that you're not buying "in" anything, you are buying a timeshare. That means that you will have a substantial up front payment and rising annual maintenance fees for the life of the contract. If you choose to finance, you will also have a substantial monthly payment as well. That's what you're buying "into". Not much of a club if you ask me.

The second issue is why do you want to buy DVC? Are you asking for advice if it's a good fit for you or have you already made this decision? If you have, what have you based this decision on? Why do you want to buy 160 points? Have you tracked your historical vacation patterns and determined that this is the correct amount of points for you, or did you choose it because it is the antiquated and arbitrary point amount set by DVD?

The third issue is why are you so sure that you want to buy direct? Are you aware of the fact that you can get AKV points on the resale market for less than half of what you would pay direct. Did you know that if you finance a direct purchase that the alternative of buying resale is actually a third the cost of that option? Or, put another way, if you buy AKV direct and finance you will be stuck in that option essentially forever. The cash value of your contract will immediately shrink by half and your loan balance will make it impossible for you to sell the contract without having to come up with a large sum of money. To me that doesn't sound like a great position to be in.

Fast forward to my opinion on this situation, I think there are a few valid reasons to buy direct. Buying a small contract or a new resort are two of the main ones. In my opinion, there is absolutely nothing you can tell me that could convince me that buying AKV direct at today's prices is a good decision, financial or otherwise. You can double that if you decide to finance. That being said, people do it all the time, so maybe I'm the one who's wrong.
__________________

Last edited by ELMC; 05-27-2013 at 10:51 PM. Reason: I made some words bold. Pretty, eh?
ELMC is offline   Reply With Quote
Old 05-27-2013, 10:48 PM   #7
rusafee1183
DVC Owner Since 2012!
 
rusafee1183's Avatar
 
Join Date: Mar 2008
Location: Pittsburgh, PA
Posts: 3,108

I agree that we put the minumum amount down (10%) and got their lowest interest rate they offered. We also have a really high credit score, so obviously that helped us get the rate we did.

One more thing to add, and I obviously have no idea if this helped us or not - but I was not eager at all. I was actually very hesitant, and wanted to hear ALL the numbers backwards and forwards before I made the decision.

They are much less likely to give you a better deal or work the numbers to your advantage if you go in there and don't make them sell it to you. You know?
__________________
Heather & Bob
rusafee1183 is offline   Reply With Quote
Old 05-27-2013, 10:49 PM   #8
ELMC
DIS Veteran
 
ELMC's Avatar
 
Join Date: Jul 2011
Location: Connecticut
Posts: 1,981

Quote:
Originally Posted by DisneyMarv View Post
i have heard that they compare the sale of the dvc close to buying a car, and thanks i will see if i get a chance to attend a tour maybe while i'm at Disney during MNSSHP in October.
Some might do that, but with all due respect it is a ridiculous comparison. A car is a mode of transportation that is necessary for many people to go from one place to another, including their jobs as well as to obtain other necessities (such as food). DVC is a timeshare, which is just one of many ways to go on vacation and if not done properly can be a more expensive or problematic way to do so. A car is a necessity, a timeshare is a luxury purchase. Although both are depreciating assets, a car only loses about 10% of its value each year. Depending on which resort you purchase, DVC could lose up to 60% of it's value starting 11 days after you sign the contract.

I would do yourself a favor and read as much as you can before you go on the tour. Arm yourself with knowledge, because your "guide" on the tour is actually a salesperson, and a good one at that. He's going to tell you everything he can to convince you to purchase, regardless of whether or not it's good for you. Without learning about all your options, you really don't stand a chance.
__________________
ELMC is offline   Reply With Quote
Old 05-27-2013, 11:06 PM   #9
DisneyMarv
Mouseketeer
 
DisneyMarv's Avatar
 
Join Date: May 2013
Location: Miami,Fl
Posts: 238

Quote:
Originally Posted by ELMC View Post
It has been pointed out to me that at times I do not answer the question asked and instead go off on what seems to be a tangent (but actually isn't...agree to disagree I suppose). My position has been that it is our responsibility to not only answer the questions that are asked, but the questions that sometimes the OP does not know to ask. To that end, I have two different responses to your question. The first is a straight up answer. If you think you know everything you need to know except this one piece of information, then simply read this and close the browser. The second is a more in depth discussion of the path you are seeking to embark upon. If you want to learn more about what you're looking to get into and why, read response #2.

Response #1:

$2,320. Perhaps a little less depending on incentives.



Response #2:

It's interesting that the title of your thread is "want to buy in direct". There are really three separate issues there, and I'm not sure the previous responses identified two of them. First off, please know that you're not buying "in" anything, you are buying a timeshare. That means that you will have a substantial up front payment and rising annual maintenance fees for the life of the contract. If you choose to finance, you will also have a substantial monthly payment as well. That's what you're buying "into". Not much of a club if you ask me.

The second issue is why do you want to buy DVC? Are you asking for advice if it's a good fit for you or have you already made this decision? If you have, what have you based this decision on? Why do you want to buy 160 points? Have you tracked your historical vacation patterns and determined that this is the correct amount of points for you, or did you choose it because it is the antiquated and arbitrary point amount set by DVD?

The third issue is why are you so sure that you want to buy direct? Are you aware of the fact that you can get AKV points on the resale market for less than half of what you would pay direct. Did you know that if you finance a direct purchase that the alternative of buying resale is actually a third the cost of that option? Or, put another way, if you buy AKV direct and finance you will be stuck in that option essentially forever. The cash value of your contract will immediately shrink by half and your loan balance will make it impossible for you to sell the contract without having to come up with a large sum of money. To me that doesn't sound like a great position to be in.

Fast forward to my opinion on this situation, I think there are a few valid reasons to buy direct. Buying a small contract or a new resort are two of the main ones. In my opinion, there is absolutely nothing you can tell me that could convince me that buying AKV direct at today's prices is a good decision, financial or otherwise. You can double that if you decide to finance. That being said, people do it all the time, so maybe I'm the one who's wrong.
pretty much on your second option of why i'm wanting to purchase is the reason i am a annual passholder so i see myself frequently going to Disney World More this year and taking more trips the following and pretty much what i have spend on resorts through out the year i can pretty much say i could of saved it for the Purchase of the Time Shares pretty much i have stayed in Deluxe Resorts spending more and more each year. So I came up with the Idea of why not go ahead and become a Member. And on your third issue i must say i have visited the site Fidelity and yeah i have done some exploring there and that's why i wanted insight from others as seeing also going in resale you get restrictions from what Direct Owners can do and enjoy but like you said. I will have to keep Doing my Homework to build my Knowledge on this
__________________
“Around here, however, we don't look backwards for very long. We keep moving forward, opening up new doors and doing new things, because we're curious...and curiosity keeps leading us down new paths.”



Last edited by DisneyMarv; 05-27-2013 at 11:47 PM.
DisneyMarv is offline   Reply With Quote
Old 05-27-2013, 11:25 PM   #10
BestDadEver
New DVC Member
 
BestDadEver's Avatar
 
Join Date: Jun 2012
Location: Long Island
Posts: 672

Quote:
Originally Posted by DisneyMarv View Post
i have heard that they compare the sale of the dvc close to buying a car, and thanks i will see if i get a chance to attend a tour maybe while i'm at Disney during MNSSHP in October.
I wouldn't say that the interest rate is much higher around 10% and they stretch the loan to 10 year if you want . You can do less years .
__________________
Member since 2012


BestDadEver is offline   Reply With Quote
Old 05-28-2013, 05:14 AM   #11
Missyrose
DIS Veteran
 
Missyrose's Avatar
 
Join Date: Jan 2009
Location: Northern Va.
Posts: 7,267

Quote:
Originally Posted by BestDadEver View Post

I wouldn't say that the interest rate is much higher around 10% and they stretch the loan to 10 year if you want . You can do less years .
Yes, but a car loan is often financed at around 5 percent and the loan length is usually five years. Paying for a direct contract over a 10-year period effectively doubles the price. Would you buy AKV for what amounts to $290 per point?
__________________
Missy Franklin (Pixel Dust) | Facebook: World of Yesterday, Tomorrow & Fantasy | Current TR: 8/14 Past TR: 5/14, 10/13, 1/13, 5/13, 10/12, 3/12 , 10/11, 10/10
'86, '90, '94, '98, '09, '10 -- Off site, 10/11 -- CR, 3/12 -- Windsor Hills, 10/12 -- BCV/AKV-Jambo, 01/13 -- BWV, 5/13 -- BLT, 10/13 -- YC CL, 5/14 -- BWV, 08/14 -- VGF/BLT, 12/14 -- BWV, 4/15 -- BLT, 10/15 -- BWV

Missyrose is offline   Reply With Quote
Old 05-28-2013, 06:35 AM   #12
Minniesgal
DIS Veteran
 
Join Date: Mar 2013
Posts: 2,028

I would warn you that disney interest rates are very very high. We financed as my savings were in a notice account so i didn't have instant access. once home i found i really didn't want to half my savings as I trusted myself more to pay down the loan quickly than replenish my savings so we have put every spare penny into the loan and will have paid it off next month after 9 months. The loan allows you to overpay by however much you want each month and it is nice to see the interest payments come right down as you overpay. I shudder at the thought of the cost over 10 years.

My happiness at alsmot having fully paid is only shadowed by my desire for a small add on at VGF
Minniesgal is offline   Reply With Quote
Old 05-28-2013, 06:38 AM   #13
BestDadEver
New DVC Member
 
BestDadEver's Avatar
 
Join Date: Jun 2012
Location: Long Island
Posts: 672

Quote:
Originally Posted by Missyrose View Post
Yes, but a car loan is often financed at around 5 percent and the loan length is usually five years. Paying for a direct contract over a 10-year period effectively doubles the price. Would you buy AKV for what amounts to $290 per point?
Read my post again . I said that I would not compare it to a car loan
__________________
Member since 2012


BestDadEver is offline   Reply With Quote
Old 05-28-2013, 07:30 AM   #14
Nabas
Mouseketeer
 
Join Date: May 2013
Posts: 307

Quote:
Originally Posted by DisneyMarv View Post
OK i have been wanting to buy points at the AKV for some time now i have never done the Tours but i have done some research here and there. How Much would my down payment be if i was to purchase a 160 Points contract.
Don't finance! If you cannot afford to pay cash, DVC is a poor use of your money.

Depending on how much you put down and your credit rating, Disney charges from around 10% to 17%. Those rates are crazy. The money you might save by joining DVC will be lost on financing. Disney often sells DVC as a way to save money on Deluxe Resort stays. However, if you finance, you could end up spending more than if you simply rented rooms from Disney with a (for example) 30% "Room Only" Deluxe Resort discount. In 2012 & 2013, Disney has offered "Room Only" discounts for most of the year with only a few peak days blacked out.

Alternatively, consider renting DVC points. Even at $14/point, it could take over 15 years to reach the break-even point compared to paying cash at $130/point. (About what AKV currently costs with incentives.)

Consider saving your money and buying a resale for half the price.

All you have do to is looking at the DVC resale sites and see the number of people asking crazy prices (that they'll never get) or watch the Orange County Comptroller website for the number of DVC foreclosures to realize that financing a DVC purchase is a bad idea.

I realize you might want to be a DVC member but don't let that desire override financial common sense.
Nabas is offline   Reply With Quote
Old 05-28-2013, 07:49 AM   #15
deploylinux
Earning My Ears
 
deploylinux's Avatar
 
Join Date: May 2013
Location: San Diego, CA
Posts: 30

Finance can make sense in some situations, but if possible -- pay it off quickly. There is no penalty to prepay and you can include a letter with your purchase documents stating that you wish your monthly payments recalculated to pay off in 30 months rather than the default 60/120 months. You can also put down more than the minimum w/o paying off the complete balance immediately. Basically, financing can work out and dvc is flexible....but you should really be careful about just paying the minimum and using the default terms offered by DVC.
deploylinux is offline   Reply With Quote
Reply



Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

DVC-Resales.com | 1-800-550-6493 (Contact The Timeshare Store) | DVC Resale Listings

facebooktwittergoogle plus youtube itunesDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 12:31 PM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.