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unbelievable!! Can't afford this! Please help

Discussion in 'Purchasing DVC' started by vinmar4, Dec 5, 2012.

  1. vinmar4

    vinmar4 Mouseketeer

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    I know what you mean. We are going to look at all the different options, but you are right, if we get out of the loan now if we buy later resale we are still going to have the annual fees. we would hate to loose it too. thanks for your advice. Renting is sounding better and better as an option.
     
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  3. vinmar4

    vinmar4 Mouseketeer

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    Thanks David,
    I will for sure contact you if we decide to rent
     
  4. vinmar4

    vinmar4 Mouseketeer

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    I agree with you, thanks for your opinion
    you guys are really great!!
     
  5. ssawka

    ssawka DIS Veteran

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    Yes, 3.5% was probably a good number to use when you bought, but I think what is throwing owners off is that MFs seem to be escalating at a much higher rate than that. MFs at BLT are going up by 6% next year. If we did not buy when we did (June 2009) I don't think we could afford to buy, at least not at BLT.

    Financing actually paid off well for us since we didn't really have the money saved when we bought. We paid off the Loans on our contracts in 1 year, so we paid the 11% and took the tax deduction. In that year however, the price per point at BLT went up 22%. :scared1: I agree that financing points does not make sense unless you know you will pay it off quickly.
     
  6. crisi

    crisi DIS Veteran

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    Additionally, dues are going up, living expenses are going up, but most people have had fairly stagnant salaries. So what was affordable three years ago may no longer be. And no one really plans for groceries getting more expensive and the heat bill going up while getting paid the same.
     
  7. OrangeCountyCommuter

    OrangeCountyCommuter DIS Veteran

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    "so valuable" But OP indicates family is no longer all that excited about going to Disney Sorry but it doesn't sound like they are "valuable" to them if that's really the case.

    I am not a fan of the "keep at any cost" or "Rent" chants that occur on here.

    DVC is not for everyone. If OP doesn't think the 'cost' is worth the 'reward' then the points are actually not valuable at all.

    Disney makes a lot of money off of the "impluse" purchase. The folks who get to Disney, fall in love and think "we want to do this forever" then the kids grow up and maybe they don't want to do it "forever" or even "next year" LOL!

    I have sold a lot of points over the past few years as my vacation habits changed. I still go to Disney but not as often. My new job has a lot less vacation and "freedom" then my old one so I actually can't go play at Disney anytime I want....
     
  8. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    It would surprise me if this were the case for contracts bought as a group. Even if it is this way, I bet they have the right to call the loan and I bet they do if there are payment issues on any of them. They can also block the entire account if one of them is behind.
     
  9. DizBub

    DizBub Totally Addicted

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    You make some very good points here but I think that OP and others in this situation should carefully consider their options. Especially since they may still owe so much on their loans and could potenially lose thousands just unloading contracts in panic mode. If they can rent their points to cover MFs and maybe help to pay down their loan this year it could give them some breathing room and time to decide what they really want to do.

    Knee-jerk and emotional/impulse actions run both ways.
     
  10. CaptDadSparrow

    CaptDadSparrow Mouseketeer

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    I did some looking and that interesting. Thanks for the link.
     
  11. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    My answer is in response to the question of paying off the loans, not defaulting on the loan.

    The contracts and their loans are separate from other contracts/loans. You can pay off one contract, sell it and and still owe on the others.

    :earsboy: Bill
     
  12. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    Good to know but it surprises me for points bought as a unit.
     
  13. disneynutz

    disneynutz DIS Veteran DIS Lifetime Sponsor

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    We bought 6 - 50 point contracts at BLT when they were "giving the free cruises". DD, an adult on the membership financed her 2 contracts for about 6 months until she got her pay bonus. She paid off one contract first and then the other.

    Disney doesn't consider them as a unit even though they are all in the same membership and under the same master contract.

    :earsboy: Bill
     
  14. Dean

    Dean DIS Veteran<br><a href="http://www.wdwinfo.com/dis

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    I don't believe that's consistently been the case from what I've heard over the years but I don't have any first hand knowledge.
     
  15. Lil' Grumpy

    Lil' Grumpy <font color=purple>Lil' Grumpy is really a Big Swe

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    this direction has taken me aback. really? i am surprise "of the
    other"...that is, the whole concept of buying a "time"--share.

    also the whole selling of points or weeks or part thereof would
    come into play inclduing all sorts of legal matters.

    then there all the off ramps connecting the main body ( the
    parts of the building one is thinking they paid money for. )

    first , see what i am saying.....if this was not a real option then
    how could they even offer it--multiple contacts. and then how
    could there be varying amounts of weeks/points of any unit if
    one person contact isn't being define by the same principle/s?

    there are 365 days x the amount of units that make up the
    total points. the only restriction is dividing up the sells over
    the limit of a 24 hrs period. i guess they could lower each
    unit by each room & each contact for having the right to
    stay 24 hrs and then extend them out to 365 days. therefore,
    i would think the lowest amount of "weeks" or points would
    be whatever the amount necessary for a single day. then
    all of those 'shares" can then be extended out from day,
    to days, to a weeks & greater. that would be a real
    product for sale. now whoever name/s on each contact
    would not matter how long or even many units are brought
    by many or the few , as long as they each have a single
    day to stay. it just liked the recent change/offer to buy
    additional points , one time. mist come their reserves , &
    i knw most are just trying to fill a vacation..but they are
    impacting the other owners because they are opening up
    more rooms to be off the market under the 7 mos
    periods.

    just an added observation, as i been trying to learn the
    ins & outs of the dvc system---- but many of their "ways"
    are just mind boggling.

    & i have alwys wonder....why do dvc chose certain amounts
    that they limit new buyers?

    the thing that dean brought "up'--that single families ownership
    covering different contacts of time shares could not be
    divided into different sections , for ex. keeping one/selling 2
    if they have 3 separate contacts....what control measures
    for the dvc company to do this? time to me begins @ 24hrs
    ..and up from there ...while shares are all the owners
    that make up the resort. so the only reasonable logic for
    dvc to do this..would prevent any owner from resales- but
    of course, no ways to prevent defaulting.

    one thing that bothers me , how dvc tolerated the vandalism
    and did nothing to the managers turning a blind eye. ( i talk
    to many of the workers and their frustrations were clear.)
     
  16. DVCanadian

    DVCanadian Earning My Ears

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    I did a check Using info from
    http://www.disboards.com/showthread.php?t=3025864&page=6
    and yes your dues are set to be $1814 this coming year but last year your dues would have been about $1740.

    This is an increase of $74 not $200.

    I get that $1,800 is a lot of money but it is about $6 a month more than last year.
     
  17. LisaS

    LisaS DIS Veteran

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    Good catch! The OP's dues went up $211.20 over the last two years, not in just one year.
     
  18. MickeyFan612

    MickeyFan612 Mouseketeer DVC Gold

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    I think renting your points is the best option for you! My best friend just rented an extra year of her 320 AKV points to cover next years dues and then used the leftover funds on her Disney vacation that she is enjoying right this minute:). She used Paul Little at the DVC rental store. I've used him in the past and highly recommend! Best part is he pays $10.25/ point, you recieve 65% the day reservation is made(through paypal) and remainder the day the guests check in! Good Luck to you:)
     
  19. vinmar4

    vinmar4 Mouseketeer

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    FYI
    last year it was 1591.65 and now 1769.32
    177.67 increase in one year
     
  20. DizBub

    DizBub Totally Addicted

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    Wow. I have 310 points at BLT. Dues went up $0.28 so mine will increase $86.80 or $7.23 per month.

    I thought AKV went up $0.28 also. Something's not right.

    Sorry, I just checked and AKV went up only $0.24. Your dues increase should only be $76.80 since you have 320 points. Right?
     
  21. vinmar4

    vinmar4 Mouseketeer

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    Maybe I should call them and double check the numbers
    thanks
     

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