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Old 01-29-2013, 09:13 AM   #1
DWGal210
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Hey all -

Does anyone know the current DVC incentive? I'm cruising in June & am considering going to a presentation & buying DVC at that time but was curious as to the offers available now. Thanks!
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Old 01-29-2013, 09:33 AM   #2
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Ya, I just went to a presentation this past week with them while on board.

I'm going to get the wording wrong but hopefully you get the general idea.

First off, you get a $500 or $1000 OBC, depending on how many points you buy with DVC. You can either take that as an OBC, OR put that down onto the payment. If you use part of it, you can still put part of it down on payment.

Second, the lady was saying that the date your points get topped up every year was in August. So typically, you would buy in, then wait to get your year's points in Auguts. The deal was, you would get last year's points now. So if you bought 160 points, you would typically wait till this upcoming Aug to get them. BUT, they were giving you last August's points.

Third, something about the maintanence fee or that yearly fee you pay.... you get to have last years fee. Not what this coming year would be. Something along those lines.

I was going to buy into it, but this year is not a good year. PLUS, as a Canadian, I didn't have everything I needed to do it. But, next year when I cruise, hoping you get a great deal again, and I will be buying in!!
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Old 01-29-2013, 09:54 AM   #3
DWGal210
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Quote:
Originally Posted by MedicGoofy
Ya, I just went to a presentation this past week with them while on board.

I'm going to get the wording wrong but hopefully you get the general idea.

First off, you get a $500 or $1000 OBC, depending on how many points you buy with DVC. You can either take that as an OBC, OR put that down onto the payment. If you use part of it, you can still put part of it down on payment.

Second, the lady was saying that the date your points get topped up every year was in August. So typically, you would buy in, then wait to get your year's points in Auguts. The deal was, you would get last year's points now. So if you bought 160 points, you would typically wait till this upcoming Aug to get them. BUT, they were giving you last August's points.

Third, something about the maintanence fee or that yearly fee you pay.... you get to have last years fee. Not what this coming year would be. Something along those lines.

I was going to buy into it, but this year is not a good year. PLUS, as a Canadian, I didn't have everything I needed to do it. But, next year when I cruise, hoping you get a great deal again, and I will be buying in!!
This is awesome info, thank you!

What do you mean by "everything I needed to do it."? What info do I need on hand in order to buy?
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Old 01-29-2013, 10:03 AM   #4
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You have to fill out paperwork for a loan if your doing it that way. I didn't have the proper ID with me for this cruise. I brought the bare minimum.

As well, I have 2 different VISAS. One with a large limit, one with a smaller limit for when I travel. I would have needed the larger card because of the down payment.

Also, because I am Canadian, our interest rates are exceptionally lower than in the US. The rate they were offering on the loan for 10 years was 15%. To me, that is completely outragous. I can get an interest free loan in Canada. So, before I went, I would need to make sure I had all the qualifications set in place, and knew I would get the loan before I went. I had no way of confirming all this onboard.
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Old 01-29-2013, 10:37 AM   #5
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Quote:
Originally Posted by MedicGoofy
You have to fill out paperwork for a loan if your doing it that way. I didn't have the proper ID with me for this cruise. I brought the bare minimum.

As well, I have 2 different VISAS. One with a large limit, one with a smaller limit for when I travel. I would have needed the larger card because of the down payment.

Also, because I am Canadian, our interest rates are exceptionally lower than in the US. The rate they were offering on the loan for 10 years was 15%. To me, that is completely outragous. I can get an interest free loan in Canada. So, before I went, I would need to make sure I had all the qualifications set in place, and knew I would get the loan before I went. I had no way of confirming all this onboard.
Thank you for this - wow, 15% is crazy!!! I would also prefer to get a loan here at home instead, you're right. So I assume I'd do the down payment, then arrange to send them the check for the balance and do the loan at my home bank.
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Old 01-29-2013, 11:11 AM   #6
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Don't know if this differs for new purchases but we just added on to our current DVC membership and the interest rates were 10.75% if you put 10% down (the standard rate Disney has charged for the last few years) and 8% if you put 20% or more down (which is new).
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Old 01-29-2013, 11:30 AM   #7
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Quote:
Originally Posted by cbnsoul View Post
Don't know if this differs for new purchases but we just added on to our current DVC membership and the interest rates were 10.75% if you put 10% down (the standard rate Disney has charged for the last few years) and 8% if you put 20% or more down (which is new).
That's still a pretty high rate.

We purchased on the Dream in July 2011. When we got home we transferred the balance from the Disney loan to our line of credit at 3%.
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Old 01-29-2013, 11:43 AM   #8
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Quote:
Originally Posted by cbnsoul
Don't know if this differs for new purchases but we just added on to our current DVC membership and the interest rates were 10.75% if you put 10% down (the standard rate Disney has charged for the last few years) and 8% if you put 20% or more down (which is new).

That's still a pretty high rate.

We purchased on the Dream in July 2011. When we got home we transferred the balance from the Disney loan to our line of credit at 3%.

______

Your 3% line of credit is secured (probably by your home). The Disney loans are unsecured or only secured by the timeshare, and that's not much security (to foreclose on a timeshare is hardly worth the time and effort). 8% on an unsecured loan is similar to some credit card rates. 10.75% is not all that great and 15% is awful and no one should be financing the purchase of a timeshare at that rate.

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Old 01-29-2013, 02:45 PM   #9
MedicGoofy
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Quote:
Originally Posted by DWGal210 View Post
Thank you for this - wow, 15% is crazy!!! I would also prefer to get a loan here at home instead, you're right. So I assume I'd do the down payment, then arrange to send them the check for the balance and do the loan at my home bank.

When I spoke with the representative 1:1, she said you go ahead and make the purchase through them. There are 2 options of a 5 yr or a 10 yr. At 10 years it was 15%.

She said, because of being Canadian and having much lower interest rates, you make the purchase through them, and then go home, get your loan or line of credit, then pay it off. You will have paid no interest at that point. And you will be paying next to nothing in interest through Canadian loans.

Which made much more sense than sticking with their plans.

Just an FYI for pricing, as I have the paperwork right in front of me:

160 pts : down payment, $4666, with balance of $16614.
costs $360/mo @ 5 yr plan OR $228 @ 10yr

320 pts : down payment, $9322, with balance of $33238
costs $722/mo @ 5 yr plan OR $457 @ 10 yr plan.

There are pts options inbetween these, and also above, but these were the most popular. This will give you an idea of what your looking at in costs.

Annual dues 5.57 per point, so 160 points = $907 and 320 = $1814.

ALSO, the other incentive, was getting a vacation point credit. It was $7 per point. So, if you bought 160 pts, you got a credit of $1120. If buying 320 pts, then $2240 credit.

Also, you need a social security / social insurance number with you for when they do the paperwork. I don't carry that with me when travelling. I knew there was something else I was missing.


Any other questions, just ask. I found the paper work and notes that I took during the seiminar

REALLY hoping to buy in next year!!!
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Old 01-29-2013, 03:03 PM   #10
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Oh wow! Looking at those numbers just makes my head hurt. I am happy I bought resale
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Old 01-29-2013, 03:05 PM   #11
keaster
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Quote:
Originally Posted by MedicGoofy View Post
When I spoke with the representative 1:1, she said you go ahead and make the purchase through them. There are 2 options of a 5 yr or a 10 yr. At 10 years it was 15%.

She said, because of being Canadian and having much lower interest rates, you make the purchase through them, and then go home, get your loan or line of credit, then pay it off. You will have paid no interest at that point. And you will be paying next to nothing in interest through Canadian loans.

Which made much more sense than sticking with their plans.

Just an FYI for pricing, as I have the paperwork right in front of me:

160 pts : down payment, $4666, with balance of $16614.
costs $360/mo @ 5 yr plan OR $228 @ 10yr

320 pts : down payment, $9322, with balance of $33238
costs $722/mo @ 5 yr plan OR $457 @ 10 yr plan.

There are pts options inbetween these, and also above, but these were the most popular. This will give you an idea of what your looking at in costs.

Annual dues 5.57 per point, so 160 points = $907 and 320 = $1814.

ALSO, the other incentive, was getting a vacation point credit. It was $7 per point. So, if you bought 160 pts, you got a credit of $1120. If buying 320 pts, then $2240 credit.

Also, you need a social security / social insurance number with you for when they do the paperwork. I don't carry that with me when travelling. I knew there was something else I was missing.


Any other questions, just ask. I found the paper work and notes that I took during the seiminar

REALLY hoping to buy in next year!!!
That's exactly what we did: got the Disney loan on the ship then paid it off with our line of credit immediately when we got home.
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DCL Gold, Baby!
Caribbean Magic - February 2009
Bahamas Wonder - September 2009
Mediterranean Magic - May 2010
Mexico Wonder - March 2011
Bahamas Dream - July 2011
Caribbean Fantasy - March 2013


Our DVC Adventures!AKL Jambo - March 2012, AKL Kidani - August 2012, BLT - March 2013, SSR Treehouse - August 2013, AKL Kidani - March 2014
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Old 01-29-2013, 04:21 PM   #12
DWGal210
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Quote:
Originally Posted by MedicGoofy

When I spoke with the representative 1:1, she said you go ahead and make the purchase through them. There are 2 options of a 5 yr or a 10 yr. At 10 years it was 15%.

She said, because of being Canadian and having much lower interest rates, you make the purchase through them, and then go home, get your loan or line of credit, then pay it off. You will have paid no interest at that point. And you will be paying next to nothing in interest through Canadian loans.

Which made much more sense than sticking with their plans.

Just an FYI for pricing, as I have the paperwork right in front of me:

160 pts : down payment, $4666, with balance of $16614.
costs $360/mo @ 5 yr plan OR $228 @ 10yr

320 pts : down payment, $9322, with balance of $33238
costs $722/mo @ 5 yr plan OR $457 @ 10 yr plan.

There are pts options inbetween these, and also above, but these were the most popular. This will give you an idea of what your looking at in costs.

Annual dues 5.57 per point, so 160 points = $907 and 320 = $1814.

ALSO, the other incentive, was getting a vacation point credit. It was $7 per point. So, if you bought 160 pts, you got a credit of $1120. If buying 320 pts, then $2240 credit.

Also, you need a social security / social insurance number with you for when they do the paperwork. I don't carry that with me when travelling. I knew there was something else I was missing.

Any other questions, just ask. I found the paper work and notes that I took during the seiminar

REALLY hoping to buy in next year!!!
Thank you so much! This is very helpful, I appreciate it!
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Old 01-29-2013, 04:23 PM   #13
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Quote:
Originally Posted by fitnessmouse
Oh wow! Looking at those numbers just makes my head hurt. I am happy I bought resale
I am thinking that too. The thing stopping me is hearing that resale buyers aren't seen as full members by DVC (ie, can't go on Member cruises).
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Old 01-29-2013, 05:03 PM   #14
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The member cruise hasnt ever been at a time when we can go. It's also way more expensive than a similar cruise just before or after.

Using your points for Disney Collection is an expensive way to vacation. Usually it's cheaper to pay in cash.

I bought dvc to use at dvc locations. If i want something else like DCL i pay cash or rent my points.
For us, we didn't feel the desire to belong to the 'club' so we can 'celebrate' being dvc-members on a membercruise
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Last edited by fitnessmouse; 01-29-2013 at 05:09 PM.
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Old 01-29-2013, 05:58 PM   #15
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I was under the impression that using one's DVC points to book a cruise is not very cost-effective. We've looked into getting DVC a number of times but we've never pulled the trigger.
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