Add on points and GF at Christmas?

[wendyt_ca]

So DH and I have been discussing going to Disney over Christmas and until just after NYE next year. I am trying to figure out the best way to go about it. So I will explain our situation.

We currently own 160 points at BLT. We are going to use some points for Grand Californian for a few nights in the spring as well as 4 nights at Disney next Oct. So we will be borrowing our 2015 points. We want to stay at Grand Floridian for Christmas next year (we may switch to a lower point option halfway through). So obviously we will not have enough points, and since we find we are always borrowing anyway we were thinking about purchasing add on points at Grand Floridian (maybe about 120). This way we can use next years points and borrow from 2015 as well.....Hope I'm not losing anyone yet lol...

So we are trying to find the best way to go about adding them on. Our use year currently is April. We are also Canadian living in NB so I think we have to do it there and can't from home. I'm going to WDW next month but DH is not going just me and a friend. I also won't have any down payments in Oct if one is needed at the time. We are planning to go to Cali sometime between April-June just not sure when yet. And we won't be back to WDW until Oct 2014.

Does anyone have any tips or suggestions on the best route for this? Cause I prob want to get them by a certain point so we can book as soon as our window opens so that we can get availability at GF.
Also a few questions...Is there a new down payment required and what is it?
Do I have to be in Disney to do the Add On points?
Can I do it in California when we go in the spring?

 

[DisneyFansInLINY]

Not to be rude but if you don't have money for the down payment, maybe you shouldn't be buying more points. You are creating a debt situation. More points equate to more maintenance fees. More points means more finance charges. Are you even finished paying off your loan on your current points? And then factor in the costs of all of your vacations.

Enjoy the points that you have. Wait until you have paid off your current loan and have enough money saved for a year of rainy days plus a down payment for more points.

 

[wendyt_ca]

Not to be rude but if you don't have money for the down payment, maybe you shouldn't be buying more points. You are creating a debt situation. More points equate to more maintenance fees. More points means more finance charges. Are you even finished paying off your loan on your current points? And then factor in the costs of all of your vacations.

Enjoy the points that you have. Wait until you have paid off your current loan and have enough money saved for a year of rainy days plus a down payment for more points.

I don't have the money for the down payment next month. I will have the money for the down payment after December. DH and I get a bonus every year from work so we are going use it for a down payment and we use it for our Spring vacation. Plus some stuff for our house. The only reasone I don't have the money in Oct is because we just spent a lot to have a lawn put into our home. So up until Christmas we will be putting away money for my trip next month, a NYC trip on NYE with a friend and Christmas.

No we don't have the loan paid off but we can just get the loan but the loan payment is not a problem for us and we have some other things ending in the spring. And next year we are budgeted to be paying of other things and once we do that we can switch to a loan here with 2.5% interest which is nothing as we work for TD Insurance and get bank benefits. I am an extreme budgeter and have my budgets with vacations figured out until the end of next year. It is not a problem financially to do that. But we were going to pay room rate to stay at grand floridian over Christmas next year and for the cost the loan payments and maintenance fees would actually be less for us then paying for a one time room and at least this way we end up with points we were planning on buying anyway.

It's not a question of being able to afford it. I know my finances. I just don't have a down payment next month. But I will in a couple of months. Even with purchasing additional points within the next 2 years we will have all credit cards and car payments gone as well as a $40,000 savings in the bank. And because we can later switch over the loan our DVC with these additional points will be paid off completely within 5 years. We believe life is short and we don't have any kids yet so we still want to cross things off our to do list along the way. I have always wanted to stay at WDW during Christmas which is something I wouldn't do with a child due to family back home. So this makes the most sense for us.

 

[nalajms]

I'm going to assume you're looking to book a studio at VGF. They will be very hard to get, likely even at the 11 month window.

Option 1 - Buy points by yourself (no DH on contract) when you're down there this year. You'll have 2 separate contracts, but points before 11 month window opens.

Option 2 - Make a special trip down with both of you to buy the points before 11 month opens.

Option 3 - Rent points from a GF owner.

Option 4 - Transfer some points into your account and try at 7 months to get a room. 1 bd will likely be open. Even doing that will be cheaper than buying an add on.

Option 5 - (Can be combined with 4, if 4 doesn't work try 5). Buy in Oct 2014 when you're both there. Ask the Guide to book a room for you. Don't buy unless he can get the reservation.

You should also discuss whether VGF is right for you, what times you'll be going, etc. Might want to consider fixed week if you think you'll prefer Christmas time.

As for finances, I believe DisneyFansInLINY was stating what many on the boards feel - that DVC is a luxury that you should only purchase without adding to your debt. Personally, I think everyone needs to make the decision themselves whether vacation is a luxury or a "somewhat need".

Good luck!

 

[OrangeCountyCommuter]

So is the DL trip going to be an annual thing too? Because you might want to think about those points. I don't know if you have booked VCG for next spring, but based on what I read that's pretty hard to get. If both of these were annual I would think about if the VGC might be the bigger need for your travel plans. You can always book a Christmas stay at BLT and then either move at 7 months or waitlist. (Overall looking at your travel this may be one of the cases where you need to buy where you want to stay. Both resorts you mention are small and may be hard to book for peak times)

I think you can buy VGF at California. If you can't now I would bet you can by April when you go down again!

(but why did you feel the need to give your entire financial history to the "we are telling you how to live" group? Is it really their business?)

 

[wendyt_ca]

So is the DL trip going to be an annual thing too? Because you might want to think about those points. I don't know if you have booked VCG for next spring, but based on what I read that's pretty hard to get. If both of these were annual I would think about if the VGC might be the bigger need for your travel plans. You can always book a Christmas stay at BLT and then either move at 7 months or waitlist. (Overall looking at your travel this may be one of the cases where you need to buy where you want to stay. Both resorts you mention are small and may be hard to book for peak times)

I think you can buy VGF at California. If you can't now I would bet you can by April when you go down again!

(but why did you feel the need to give your entire financial history to the "we are telling you how to live" group? Is it really their business?)

I know it really isn't but I just get frustrated when it jumps to my finances when that was not the actual question. I just wanted to know if there is a down payment required and that was it. But you are right it isn't. Just was hoping to avoid more of it in other replies.

The DL trip def isnt' an annual trip. We have only been there once before and are going to Vegas next year for a show and while we are there decided we would like to go to DL for a couple of days and see Carsland. I know it can be tough to get but I have played around and had it come up and our dates are relatively flexible. So we are ok there I only mention it because it will take some of my current points and wanted to know if we could add on there

We go to Disney usually twice a year (generally in Oct but it changes all the time). I know VGF will be a hard one to book so we intended to add on more points at some point any way. So figured why not just do it next year. I know we may not end up with VGF over Christmas but I figure if it's our home resort it should help at least.

Thanks for the reply nalajms - Yes I think DVC is always a luxury and with our travel habits it does save money. Those are all great options. I have considered option 2 if we can't add on in spring or if we should get the points earlier to get it booked. With Option 5 that wouldn't work for us cause our week varies. Christmas will be a one time thing Option 3 I looked at but it was more practical to put that towards add on points we want anyway.

Basically our plan is to eventually own at BLT which we have currently and VGF because the are the MK resorts and it will give us priority and down the road we are going to buy resale at AKL cause we also love that resort and you can buy them for good prices resale (although we have had no issues booking there).

 

[jerseyduke]

I believe the down payment options are 10% and 20% (the later giving you a better interest rate).

With BLT contract having an April UY and the VGF being declared in April, a lot of its points will have an April UY. But that is really only pertinent if you go resale.

 

[Docmom]

Down payments are 10-20% and interest rates vary depending on down payment, credit and I think prior DVC members get a rate cut. I'd call DVC finance department and speak with them before your upcoming trip. Would it be possible for you to sign onsite and overnight the papers for your husband to sign and send back? Here's a thought I haven't seen mentioned - since you have an April use year you can buy now and get 2013 points, bank them and along with your 2014 points go in December 2014. My understanding is that since the resort won't open until October they are prorating the MF for 2013. I know this will make the "don't finance Disney" crowd have a conniption, but an option for the no down payment this month would be putting it on a credit card that you pay off prior to being charged interest. They can also take your down payment in installments - you just have to have it all paid before you close. We bought on a cruise because of the incentives (had been looking at direct for years and resale for months) and paid the down payment with our debit card. Because of how we have it set up at the bank we couldn't do the entire transaction in one day so they did it over several days - the last one after we got back home and were able to call the bank and just do a one time payment for the last amount. There are options out there. Call them and I'm sure they'll work with you. Good luck!

 

[nalajms]

Here's a thought I haven't seen mentioned - since you have an April use year you can buy now and get 2013 points, bank them and along with your 2014 points go in December 2014. My understanding is that since the resort won't open until October they are prorating the MF for 2013. I know this will make the "don't finance Disney" crowd have a conniption, but an option for the no down payment this month would be putting it on a credit card that you pay off prior to being charged interest.

With this, your best move is to buy in Jan a few days before your 11 month window. You'd get April automatically because you're an owner, but won't have to pay 2013 dues. And I'm sure they will let you bank the 2013 points even though it's pass the banking window.

If you have the Disney Chase, it's 6 months no interest but not not sure if it applies in Canada.

Also, if you can buy in DL, I don't see why you can't buy if you're anywhere in the US on vacation. Have them fedex overnight to your hotel.