We are buying DVC!

Discussion in 'Purchasing DVC' started by DisK, Oct 5, 2013.

  1. DisK

    DisK Mouseketeer

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    My fiance and I are getting married May 30th, 2014. Instead of doing a honeymoon the traditional way, we decided to purchase DVC in the Grand Floridian and use our points to go on a honeymoon! I wanted to ask you all a couple questions.

    1. I have seen that several people have mentioned buying 50 points in one resort, and 50 in another, why do this?

    2. Disney's rates seem high, am I correct in assuming I can take out a loan through a bank, pay off disney, and then pay my bank?

    I think this is all the questions we have right now, we're currently waiting on DVC to call us back!! We are so excited, my fiance has been 33 times and we're both ready to make this step!!! Looking forward to joining the family shortly!!
     
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  3. DisK

    DisK Mouseketeer

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    Also, is there a spot where I can see what Disney perks we would get as a DVC member.
     
  4. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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    sometimes you can use the pts from contract 1 (say, for VGF) to book 50 banked VGF + 50 current VGF = 100 VGF pts to book a stay at VGF in year one, and then the next year, bank the VGF pts while you use pts from contract 2 (say, BCV) to book 50 banked BCV + 50 current BCV pts = 100 BCV pts to book BCV in year 2...and so on.

    some people like to mix it up by staying a few nights at VGF and then moving to another resort for the remainder of their vacation...you can also do that.

    just don't be confused. there is no way to use one resort's points at a different resort at the 11 month window. you can ONLY mix pts at the 7 month window.

    it depends on your credit. timeshares historically do not maintain their value and are generally worthless as collateral. but if your credit is good, you may have access to cheaper loans, yes.
     
  5. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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    perks come and go. don't count on them.

    when you join, the perks are listed on the member site.

    the big perk is the AP discount. ($145 off)

    there are also scattered (mostly 10%) discounts to different restaurants and stores in the wdw area. these are mostly less popular restaurants. Here's a sample but keep in mind it might change before you visit:

     
  6. Annielkd22222

    Annielkd22222 Mouseketeer

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    You might also want to look at resale places....they are significantly cheaper. Check out the timeshare store.
     
  7. DisK

    DisK Mouseketeer

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    We looked at Resale (I was browsing before I joined)!!! We ruled out resale due to some of the restrictions.
     
  8. chalee94

    chalee94 <font color=green>I thought all sand was ground up

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    the only restrictions are on a few trade-out options - be sure to look at the point charts for those options (they are pretty expensive) before you put much weight on that reasoning.

    resales still have the option for trading out of DVC for other timeshares through RCI - it's not a great deal either, but it's an option.

    if you are sure you want VGF, though, buying direct is probably the only real option in the near future.
     
  9. DisK

    DisK Mouseketeer

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    We are sure we want VGF and the DVC phone line said we couldn't use them for Disney Cruises if we bought resale. Otherwise we would have considered BLT or AKL
     
  10. Annielkd22222

    Annielkd22222 Mouseketeer

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    I think that if you want this soon, you will have to go through Disney. But even the one for Hawaii has resales already. But, if it were me, I would still buy relale and get much more value for my money.
     
  11. Annielkd22222

    Annielkd22222 Mouseketeer

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    You'll ever use your points for a cruise. A regular vacation for a one bedroom on medium season is about 160 points per family. A cruise for a similar week is about 700
     
  12. DisK

    DisK Mouseketeer

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    If you sell your points outright to someone, how many dollars per point does it average out for selling?
     
  13. Annielkd22222

    Annielkd22222 Mouseketeer

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    Sell? Or rent? I think you can rent for 10$ a point. Selling depends on the contract. For example Bay Lake Towers is 160 per point to buy for Disney....and I think about 100 per point to sell.
     
  14. DisK

    DisK Mouseketeer

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    I guess it's rent. Just got word though!!!! All we have to do is sign the docs when they arrive!!!!!
     
  15. JustTinking

    JustTinking DVC Member since 2002

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    If you can't pay for your purchase without financing, then I would say don't buy until you can. You can rent points for your honeymoon, and get some DVC experience under your belt before deciding to buy in. IMHO, the last thing you want is to begin your married life with debt.
     
  16. timandjanl

    timandjanl Mouseketeer

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    Agree 100%
     
  17. Annielkd22222

    Annielkd22222 Mouseketeer

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    I agree as well!
     
  18. bakerworld

    bakerworld DIS Veteran

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    Recently bought 55pts @ BCV = enough to stay every other year during October in a studio for 6N :thumbsup2
     
  19. BestDadEver

    BestDadEver New DVC Member

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    You can get your own loan to pay off the balance . Since no one will answere that question and just tell you not to finance .

    IMO waiting years to get the cash to purchase makes no sence , since any money saved will likely just be losed due to inflation , plus all the money you would have spent paying for rooms thought the years , cause lets be honest you not going to not go to WDW till you save up the cash . I watched point prices climb $30 per point in 3 years on my home resort . DVC show no evedince to slow this trend of rapidly increasing point prices .

    Just the other side of the coin on a site that is extremely one sided on the subject

    I wouldn't bother splitting between 2 resorts unless you have 200 total .
     
  20. DizBub

    DizBub Totally Addicted

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    I agree with everything said here. Why wait if you know you are going back year after year? Put that $ toward your purchase.

    You can get your own financing. We did because there's no way we would pay Disney's outrageous rates. You can also use Disney Visa for your purchase and get 6 months 0% interest (just make sure you pay it off in 6 months/get alternate financing) and get rewards to put toward your dues.

    I'm sure there is a minimum for new buyers, not sure what that is for VGF. 50 points won't get you much time there. It costs 125 points for a standard studio for 7 nights in the cheapest season.

    The only thing I can add is do not over extend yourself. Buy what you need now, you can always add-on later. And buy small contracts. If you are buying direct you can add as few as 25 points at a time and if you ever decide to sell they will go fast.
     
  21. sndral

    sndral DIS Veteran

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    Congrats/best wishes on the future marriage. Since you and your intended both love Disney I can understand the interest in DVC.
    Before you sign on the dotted line promising to pay DVC $Xxx per month for the next 10 years have you as a couple developed a budget?
    Do you already own your home? If not a commitment to make payments on a timeshare may reduce how much house you can afford to buy.
    Do you own your cars and don't anticipate using financing to upgrade in the next couple of years? All student loans paid in full? Not financing any other parts of the wedding? No credit card debt? Future children possible w/ the loss of one income or the addition of childcare costs? A 10 yr commitment to repay a timeshare is a long time.
    Digging a financial hole based on how much you can borrow is not a solid beginning to a marriage. Just make sure you know your future budget, and if financing Disney works w/ a realistic look at future expenses and needs then go ahead and sign if you think financing is the way to go, if not then wait and save and pay cash later.
     

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