2012 Points?

[Hunclemarco]

Hello
We're ready to get back into DVC! Now my question.

Due to certain circumstances, we've chosen to buy back in direct on a low number of points, then buy a larger resale in the future. Long story there, but anyways....

If we buy back in before the end of this year....will we be eligible to get 2012 points? I cannot remember how the date situation works.

Thanks for any help you can give me with this.

 

[disneynutz]

Pick your UY based on which one gives you protection should you have to cancel a vacation.

If you are buying during the current year you will get current points, not next UY points. Guides try to make it seem like they are giving you a perk when in reality, they are giving you what you paid for.

Don't forget about the Chase Visa 6 months interest free and breaking up your contract into 50 point contracts.

Bill

 

[drusba]

For any resort already open, DVD is usually selling contracts that start some months before the month you buy and thus you would necessarily get 2012 points if you buy in Dec 2012, possibly points starting in Aug or Sep 2012.

 

[Hunclemarco]

Thanks Bill and drusba!

That was probably my situation...confusing use year with calendar year.
I don't think use year will affect us all that much...we did have a December Use Year last time.
Thanks for the help and information!

 

[LisaS]

When you purchase directly from Disney, they start you off with a full set of current UY points. If you purchase a Dec UY contract between now and Nov 30, you would start with Dec 2011 UY points because those contracts are still in their 2011 UY until the end of November. For all other UYs, you would start with 2012 UY points if purchasing anytime between now and the end of the UY in question. If you purchase a Dec UY contract after Nov 30, 2012 (but before Dec 1, 2013) your first set of points will be the Dec 2012 UY points.

If a December UY works for you, that would be a great one to buy since you get an extra year's worth of points if you purchase before the end of November. For all other UYs, it's too late to get the 2011 points. Being so close to the end of the Dec 2011 UY, they may already be out of current UY points.

 

[Kwaschitz]

Pick your UY based on which one gives you protection should you have to cancel a vacation.

If you are buying during the current year you will get current points, not next UY points. Guides try to make it seem like they are giving you a perk when in reality, they are giving you what you paid for.

Don't forget about the Chase Visa 6 months interest free and breaking up your contract into 50 point contracts.

Bill

Why would you want to break up into multiple 50 point contracts? (Seriously curious. If end of year bonus is what I'm hoping for, I want to be ready to pull the trigger and not mess up lol)

 

[taaren]

Why would you want to break up into multiple 50 point contracts? (Seriously curious. If end of year bonus is what I'm hoping for, I want to be ready to pull the trigger and not mess up lol)

In case you want to sell down the line, then 50 point contracts sell more quickly and go for a higher price than 150+ point contracts. Its just a precaution ... even 75-100 point contracts are more desirable than the larger ones.

 

[Kwaschitz]

Thanks taaren. I would have never thought about that. Funny that I'm looking at TTS listings but hadn't even considered my own resale. I guess for me, I'm thinking that a smaller contract wouldn't get much in terms of stay length/room size for our family so it didn't occur to me to buy any way but one larger contract.

 

[disneynutz]

Why would you want to break up into multiple 50 point contracts? (Seriously curious. If end of year bonus is what I'm hoping for, I want to be ready to pull the trigger and not mess up lol)

Smaller contracts of the same UY and resort book as if they are one larger contract but there are benefits that many don't know about.

What if the 250 points that you buy end up being too many a few years down the road. With a 250 point contract, you would have to sell the 250 points. With 5 - 50 point contracts you could sell just 50.

Another reason is that you could leave the 50 point contracts to each of your 5 kids.

Another reason is that small contracts are easier to sell and at a higher price than larger contracts. We just sold 8 contracts, the longest took 3 days from listing to sale.

Another reason is what if you end up not liking your resort as much a few years down the road. You could sell a couple of the 50 point contracts and buy at the resort you really like. Every other year you could book at one of your 2 resorts at 11 months.

You can get contracts of any size buying direct, 50 pointers are a good size and they sell fast because plenty of owners would like to buy an extra 50 points at resale prices. If you are paying Disney's inflated prices, you might as well take advantage of the smaller contracts.

Bill

 

[KAT4DISNEY]

I mostly agree with what has been posted about smaller contracts when buying direct - although it's changed a bit in the past few years because DVC charges closing costs on each contract. It's not a lot but I think it negates some of the argument of doing this because you can sell them for more. That's also because on the back end there are fees to be paid on each contract no matter what the size. Flexibility is still a plus though.

And when buying resale it also can be a bit different when you're the buyer. It's apparent that sellers look for more $'s per point on the smaller contracts so you can often get the larger contracts for a lower price per point. So if you get a little less when you sell on the back end it is likely to even out.

 

[dvcterry]

Hi op,

We did a small add-on yesterday via direct and the 2012 points were loaded same day. I asked if I purchased hypothetically on the date of my banking deadline and they said the 2012 points could be banked too. The minimum is 25 and yes you will get 2012 points.

We've been waiting for resale for those bitty size contracts in our UY, but yes they get snatched up instantly. So had to do direct in our case.

Good luck to you and enjoy many more magical stays!

 

[Hunclemarco]

Well, i guess we'll be buying resale.....
time for a long story for those that want to hear it....

We joined back in 2007 or so and bought one contract. Then through a 3 year period, we bought additional contracts. Then really hard times fell due to loss of jobs, etc... and we had to give the contracts back in lieu of foreclosure.

Fast forward to May of this year....
We spoke with a guide and explained that our situation has gotten better, and within the next 6 months or so, we wanted to buy back in. We asked if Disney would do anything for us...we had been told earlier that if we wanted back in, we may have to buy outright and that Disney won't finance us. However in May, a guide had told us after speaking to the powers that be, that if we came up with half of the purchase price, they would finance the rest to be paid within one year. We were doing this so that we could perhaps get with Disney's good graces should we choose to buy future contracts with them...prove better credit.

So, i call today, and come to find out that the guide we spoke with back in May wasn't someone who had all of their information together, actually i don't think they went to the ultimate decision makers....and that in fact Disney wasn't going to offer us the "one year" deal. Also, since we did give back the contracts earlier, Disney will never allow us a financing situation....no matter how good our credit will ever come to be. Can't blame Disney, it was in fact our fault originally.

Needless to say, this is embarrassing, but i did want to point this out for the friends here on the DIS....

1. Addionitis may be fun, but can create problems if you buy too much too soon. ( i know many feel that financing timeshares are not good. I do agree with this now...but i learned the hard way)

2. If you do turn in your contract, Disney will never work with you again unless you find other financing options.

3. If you fall into difficult times and you believe that you may later wish to join DVC direct, do everything possible to sell the contract, not give it back.

So, We do have money saved, and figured we'll buy out 50-75 point contracts over time till we have what we need. So, it was a strong lesson for us, and i hope it can benefit someone out there too

 

[dvcterry]

Thank you for sharing your story. I'm sorry to hear about the difficulties you had and it took courage for you to explain your situation. But it can be a valuable learning experience for all of us. Sometimes we take for granted the simplest things in life, the things that really are most important, our family & friends, our homes filled with food, and even our jobs, when we need them most. Maybe some good will come out everything for you.

 

[disneynutz]

Well, i guess we'll be buying resale.....
time for a long story for those that want to hear it....

We joined back in 2007 or so and bought one contract. Then through a 3 year period, we bought additional contracts. Then really hard times fell due to loss of jobs, etc... and we had to give the contracts back in lieu of foreclosure.

Fast forward to May of this year....
We spoke with a guide and explained that our situation has gotten better, and within the next 6 months or so, we wanted to buy back in. We asked if Disney would do anything for us...we had been told earlier that if we wanted back in, we may have to buy outright and that Disney won't finance us. However in May, a guide had told us after speaking to the powers that be, that if we came up with half of the purchase price, they would finance the rest to be paid within one year. We were doing this so that we could perhaps get with Disney's good graces should we choose to buy future contracts with them...prove better credit.

So, i call today, and come to find out that the guide we spoke with back in May wasn't someone who had all of their information together, actually i don't think they went to the ultimate decision makers....and that in fact Disney wasn't going to offer us the "one year" deal. Also, since we did give back the contracts earlier, Disney will never allow us a financing situation....no matter how good our credit will ever come to be. Can't blame Disney, it was in fact our fault originally.

Needless to say, this is embarrassing, but i did want to point this out for the friends here on the DIS....

1. Addionitis may be fun, but can create problems if you buy too much too soon. ( i know many feel that financing timeshares are not good. I do agree with this now...but i learned the hard way)

2. If you do turn in your contract, Disney will never work with you again unless you find other financing options.

3. If you fall into difficult times and you believe that you may later wish to join DVC direct, do everything possible to sell the contract, not give it back.

So, We do have money saved, and figured we'll buy out 50-75 point contracts over time till we have what we need. So, it was a strong lesson for us, and i hope it can benefit someone out there too

Interesting that Disney would take this position. They aren't out anything, they just took your points back and added them to the pot and resold them again.

Bill

 

[ELMC]

Thank you for sharing your story, which is an excellent cautionary tale about financing DVC purchases. Quite frankly, given your experiences in the past, I think it might work out better for you in the long run to purchase resale. Good luck.

 

[bwang123]

Interesting that Disney would take this position. They aren't out anything, they just took your points back and added them to the pot and resold them again.

Bill

Probably because when you buy direct, you only have to put up a few hundred dollars and they will give you several weeks to pay the rest of closing. But your points are immediately credited. So, you could use all your points in those few weeks and then just give up the contract. The initial few hundred dollars will be significantlly cheaper than rack rate, renting points etc. Disney now knows you are a risk.

 

[Hunclemarco]

Probably because when you buy direct, you only have to put up a few hundred dollars and they will give you several weeks to pay the rest of closing. But your points are immediately credited. So, you could use all your points in those few weeks and then just give up the contract. The initial few hundred dollars will be significantlly cheaper than rack rate, renting points etc. Disney now knows you are a risk.

I could understand how something like this could happen.

To clarify, that was never our intention, and the amount of our payments did pretty much pay for a 210 point contract with Disney....they were just spread out through various contracts. Again, i know we were in the wrong when all was said and done, but it wasn't our intention to score a quick deal using points like that mentioned above. I would have hoped Disney would have seen our record to realize that. What they told us is their stance on the situation...we'll move on and do what we can.

 

[Hunclemarco]

Thank you for sharing your story. I'm sorry to hear about the difficulties you had and it took courage for you to explain your situation. But it can be a valuable learning experience for all of us. Sometimes we take for granted the simplest things in life, the things that really are most important, our family & friends, our homes filled with food, and even our jobs, when we need them most. Maybe some good will come out everything for you.

Interesting that Disney would take this position. They aren't out anything, they just took your points back and added them to the pot and resold them again.

Bill

Thank you for sharing your story, which is an excellent cautionary tale about financing DVC purchases. Quite frankly, given your experiences in the past, I think it might work out better for you in the long run to purchase resale. Good luck.

Thank you for your sentiments...they are truly appreciated. Despite Disney's decision here, we still feel owning DVC to be a good thing for our family. We'll buy resale when we can, and go from there.

Thank you for the Positive thoughts!

 

[Dean]

Weedless to say, this is embarrassing, but i did want to point this out for the friends here on the DIS....

1. Addionitis may be fun, but can create problems if you buy too much too soon. ( i know many feel that financing timeshares are not good. I do agree with this now...but i learned the hard way)

2. If you do turn in your contract, Disney will never work with you again unless you find other financing options.

3. If you fall into difficult times and you believe that you may later wish to join DVC direct, do everything possible to sell the contract, not give it back.

So, We do have money saved, and figured we'll buy out 50-75 point contracts over time till we have what we need. So, it was a strong lesson for us, and i hope it can benefit someone out there too

All good warnings to add to a number of others. IMO, they did you a favor by refusing to finance because you can buy resale for about what it'd cost retail to pay half (depending on specifics of course). And you lose nothing of value going resale either now or in the future unless they come up with a VIP program that affects you directly, which I doubt they will. DVC is to use for DVC resorts, EVERYTHING else is a poor situation to buy for.

 

[AnnaS]

Thank you for sharing your story. I'm sorry to hear about the difficulties you had and it took courage for you to explain your situation. But it can be a valuable learning experience for all of us. Sometimes we take for granted the simplest things in life, the things that really are most important, our family & friends, our homes filled with food, and even our jobs, when we need them most. Maybe some good will come out everything for you.

What Terry said!!!!!!!