Adding points to an existing DVC account

[_auroraborealis_]

when you buy a resale contract from Disney they do not reset the contract to 50 years?

Legally, they cannot, and it would be a hot mess for them to do so. Again, this is a timeshare, and governed by laws around how timeshares must operate.

How then are they selling them at such high prices for a period of time less than 50 years???

People who don't know about the resale market. People who believe the hype about "member benefits!" And, of course, because the pricing is so high they can drive them to the current resorts (Poly, Aulani, soon C3V) with longer contracts that cost about the same. And that last is really the goal. Selling of closed resorts is not where their big money or profit is right now. They get most of those points on foreclosures or ROFR, which means the incremental profit per point is a lot lower than it is on new resorts.

 

[LisaS]

Okay, you just piqued my curiosity there....when you buy a resale contract from Disney they do not reset the contract to 50 years? How then are they selling them at such high prices for a period of time less than 50 years???

They do not reset any contracts to 50 years. If you purchase an add-on at BWV directly from Disney, your contract will expire on Jan 31, 2042, the same day my BWV resale contract expires.

The Poly expires on Jan 31, 2066 so anybody who purchased after Feb 1, 2016 gets less than 50 full years. Meanwhile the clock keeps ticking down towards the fixed end date. If I purchased the Poly (from Disney or via resale) on Feb 1, 2018 I would get 48 years. Someone purchasing the Poly today gets 49 years, 5 months and 4 days.

How do they manage to sell contracts at such high prices? Some buyers are unaware of the resale market and just buy from Disney. Some buyers want immediate gratification and don't want to wait the 3-4 months it can take with a resale transaction from initial offer to ROFR to closing to getting into Disney's system and making a reservation. A few have posted here that they don't trust the resale market and won't even think about it but there is no problem if you buy from a reputable broker. Some think the perks are worth the high price of purchasing directly from Disney. In some cases such as purchasing a 25-point add-on or purchasing a new resort before resale prices have come down, buying direct can be a reasonable option.

 

[SSGNCNG]

Okay.....those answers were great....this whole thread really clarified a lot of side issues we hadn't thought of before. Initially it was just that we love Polynesian and everything else was good so off we went.

The more I learn, I wouldn't change anything in the past but going forward I feel better about buying on the resale market. Thanks all!

 

[BillPA]

Just remember that DVD guides are salesmen that relay on commissions. They should not lie to you, but obviously will not tell you about resale prices, and some will "bad mouth" resale. They are just trying to make a living and take care of their families, like the rest of us.

 

[Disney Dad ADL]

Okay, you just piqued my curiosity there....when you buy a resale contract from Disney they do not reset the contract to 50 years? How then are they selling them at such high prices for a period of time less than 50 years???

As others have said, no they do not reset the years. Reasons why people buy direct:

1. They don't know about resale
2. They buy on impulse like on a cruise ship
3. They want a new resort (such as Poly currently), where the benefit of resale is minimal.
4. Direct points have certain perks resale members don't get (Discounts, ability to use points for cruises and Disney Hotels, member events, etc)
5. Less hassle/faster buying direct. Resale takes on average 3 months to get your points, while direct you get can the points same day. Also fear of ROFR.
6. They feel more comfortable buying from Disney, just like you considered resale a grey market, makes some people uncomfortable .
7. They are buying very small contracts (25 points) where resale as has only minimal benefit over direct.
8. @mustinjourney did it for the tote bag
9. Inaccurate guide information and "rumors"

 

[KAT4DISNEY]

Okay, you just piqued my curiosity there....when you buy a resale contract from Disney they do not reset the contract to 50 years? How then are they selling them at such high prices for a period of time less than 50 years???

As others mentioned when Disney sells the older resorts they don't add any extra years on but there is one odd ball. They offered an extension at OKW several years ago and in doing that extended the lease to 2057. Not everyone took them up on the offer so you will see OKW contracts with resale brokers that end in 2042 and also ones that end in 2057 if the owner did extend. But any contract purchased direct from DVC will end in 2057.

 

[mustinjourney]

As others have said, no they do not reset the years. Reasons why people buy direct:

1. They don't know about resale
2. They buy on impulse like on a cruise ship
3. They want a new resort (such as Poly currently), where the benefit of resale is minimal.
4. Direct points have certain perks resale members don't get (Discounts, ability to use points for cruises and Disney Hotels, member events, etc)
5. Less hassle/faster buying direct. Resale takes on average 3 months to get your points, while direct you get can the points same day. Also fear of ROFR.
6. They feel more comfortable buying from Disney, just like you considered resale a grey market, makes some people uncomfortable .
7. They are buying very small contracts (25 points) where resale as has only minimal benefit over direct.
8. @mustinjourney did it for the tote bag
9. Inaccurate guide information and "rumors"

I actually didn't know about the tote bag when I bought. It was a complete surprise.

My three year old daughter loves it though. She stuffs it with all her toys and tells me I am supposed to take it to work for show and tell.