Addonitis bug is getting me, however....Need advice

[lck33]

Well, let me start by saying that my DH and I already have a 300 point contract that we have financed with disney, which we afford quite comfortably. We are not usually in the borrowing stage, however I have become comfortable with the 1 bdrm units and like to go a couple of times a year. Thus I think we could you some more points and this incentive sounds really good to me and it would cost only an additional $150 per month including maintenance. I know we could afford that as well.

However, something in the back of my mind keeps telling me I should pay-off what I have first and then maybe buy additional points later on.. But if I do that then I won't have enough points for the accomodations that I really want. And who knows what the points will cost then??

Am I the only one who has this delima right now??

Thanks for all of your input!

 

[athenna]

Well, let me start by saying that my DH and I already have a 300 point contract that we have financed with disney, which we afford quite comfortably. We are not usually in the borrowing stage, however I have become comfortable with the 1 bdrm units and like to go a couple of times a year. Thus I think we could you some more points and this incentive sounds really good to me and it would cost only an additional $150 per month including maintenance. I know we could afford that as well.

However, something in the back of my mind keeps telling me I should pay-off what I have first and then maybe buy additional points later on.. But if I do that then I won't have enough points for the accomodations that I really want. And who knows what the points will cost then??

Am I the only one who has this delima right now??



Thanks for all of your input!

Ijust wanted you to know that you aren't the only one having this dilemma.
I only have 150 points and I want more! And I am really trying to decide what to do. If it is $150 a month including fees, I maybe able to do it, but I'm not sure I need that many more points right now, but I do need some more. Hopefully some of the other DVC vets can shed some light on the subject for us.

 

[lck33]

Thanks, its so nice to know that I am not alone in this madness

 

[dkddis]

I am in a similar situation. With the current incentive you could rent out your add on plus the 100 bonus points for the first year and use that to pay down the loan a bit. Of course part of me would want to use those points right away!

 

[athenna]

Thanks, its so nice to know that I am not alone in this madness

Oh, you're certainly not alone.

 

[gtrist4life]

If any of you listen to Dave Ramsey (National radio Christian based financial advisor), he'd be all over you like stink on dirty diapers. Pay off your debt, save up the money, then pay cash.

That said.... I listen to Dave, we financed our DVC, and I still thought about a way to get in on this offer .

We're really making a dent in our debt and plan to add on, but not till next year or so. We’ll just hope that the “limited time” extends through the 50 year celebration, if not, there’ll be other deals and resales available.

Same way with the points, use what you have/can borrow, then wait till you can buy more.

Peace,

 

[TXMommy]

We just got home from our first DVC stay yesterday and we are already thinking of ways we can add on!! I'll sure be on the phone with my guide first thing tomorrow!!

 

[MagikMom]

Okay, let's look at the facts:

1) You love going to Disney
2) You want to go more than once per year
3) You want to stay in a one-bedroom
4) You can afford your current points
5) you can afford more points
6) points will go up in the future

Based on "the facts", Go For It Now!!!!

 

[bongo59]

i will add my two cents on this because i am quite passionate about it. YOU MUST AND SHOULD PAY IT OFF FIRST! It is the best thing to do both short and long term for just about anyone and it will give you security. If you need to borrow points that is by far a better option than borrowing money to buy future points. I should know. I bought on Margin with disney in 91 and add on in 92 and 93 and then disaster hit..........an unexpected divorce caused my very sound finance to turn very sour for about three yrs...........and now about 12 yrs later my finances are very solid and i buy every new contract with cash. I have alot of points and i own every last one. Finance is good for homes and that is about it in my view. I know this is counterintuitive to the AMerican way but it makes no sense to leverage yourself and lose your margin of safety for a trip that you can essentially still do with point borrowing................NEVER FINANCE IF YOU CAN PAY...............that is a motto i wish more believed.