Advice required

[james190370]

Hi Guys

This is my first post and any answers would be greatly appreciated.
My family are going on our annual holiday next year to Orlando,and we have recently heard about DVC, we received the DVD and feel that the flexibility is amazing, especially as the options are global.(We live in England so can nip over to Italy and France when we want a weekend break)
However, I am struggling to understand a couple of bits:
1.We are looking to buy approx 170 points at SSR for August, what are the closing fees.
2. Is the annual maintainence fee paid annually or monthly.
3. If we purchased an interest in SSR in 2008 for how long is the term of the agreement
4 How easy is it to add points to the original 170 and when can you do it.
5 How easy is it to bank points and when can you do it.
6 How easy is it to book another resort if we fancy a change from SSR.
7.I have seen reference to the 7 month mark whats that all about

On hindsight looking at all those questions maybe I havent quite grasped it!!

Helppppp

James

 

[Tinkerdreams]

Hi James and welcome to the DIS boards.

1.We are looking to buy approx 170 points at SSR for August, what are the closing fees.
If you buy direct through Disney, the closing fees are approximately $300 (US)

2. Is the annual maintainence fee paid annually or monthly.
I believe you would need to pay annually. I'm not sure you could pay monthly.

3. If we purchased an interest in SSR in 2008 for how long is the term of the agreement
SSR contract run out 2054.

4 How easy is it to add points to the original 170 and when can you do it.
Very easy, although you might have to go on a waitlist if you want to add on for a sold out resort.

5 How easy is it to bank points and when can you do it.
Banking points is easy and a call to MS will accomplish that. For 2008, you would have to bank whatever points you will not use 4 months before the next use year. So if you use year is April, then the points must be banked by November of the previous year (April 2008, then bank points November 2007). If you do not do this, then you must use the points or lose them.

6 How easy is it to book another resort if we fancy a change from SSR.
Depending on the time of year and which resort, it could be difficult, however, for the most part it is pretty easy to book at the 7 month window.

7.I have seen reference to the 7 month mark whats that all about.
You can book at the 7 month window at a DVC resort that is not your "Home" resort. So if you buy at SSR, then all other DVC's can be booked at the 7 month window but SSR can be booked at the 11 month window.

 

[james190370]

Hi Tinkerdreams

Thanks so much for all your help... It seems really easy, I guess I ll be getting my chequebook next August!!!!

Many Thanks

James

 

[UAN]

James why wait till August? We said yes to buying points at AKV last week and are taking advantage of the great £ -$ exchange rate at the moment.

 

[james190370]

You read my mind!!!

 

[flyerron]

1)Monthly membership dues can be set up monthly if you finance thru Disney.

2)I bebleive the base contract ia 160 points with a 25 point increment. I'm not sure 170 points works for the initial contract.

3)It is very easy to bank & borrow points. That can be done with a phone
call & the cast member will walk you through it in a minute

 

[Caskbill]

If you purchase direct from Disney, the initial minimum purchase is 160 points. You can purchase any amount above that if you want. You could buy 161 points, 162 points, 163 points, etc. So yes, you can buy 170 points as your initial purchase.

AFTER your initial purchase, any add-on purchases are a 25 point minimum


Not sure if you can do monthly bank debits from an overseas account. US owners can, but overseas might be different.

You might want to check out the UK boards. They also have a UK DVC forum that you might want to look at. They can answer all your questions that might be unique to the UK, such as monthly dues payments.

You'll find the board here

Welcome to the DIS DVC forums

 

[Caskbill]

Just to clarify a couple of things that aren't quite right.

1)Monthly membership dues can be set up monthly if you finance thru Disney.

Actually, US residents can set up monthly dues payments via bank drafts, whether one finances thru Disney or not.

2)I bebleive the base contract ia 160 points with a 25 point increment. I'm not sure 170 points works for the initial contract.

The minimum initial contract is 160 points or anything higher. There is no 'increment'. An initial contract can be 170 points, 175 points, 176 points, or anything at 160 or above. After the initial contract, a minimum ADD-ON contract is 25 points if you pay in it's entirety, or 50 points if you finance thru Disney.

 

[Buckeye Fan]

If you are really planning on purchasing, I would purchase before your trip and book the trip with your new points!

We went last December. We knew we were going to buy and with all of the incentives DVC had, we could have used points for our December trip (they were giving 2006 points with the contract and still received points in 2007 for a 2007 trip! That would have allowed me to put the $2000 I spent on a room into the contract! As they say, hindsight is always 20/20.

In advance, congrats on your purchase and
WELCOME HOME!

 

[disneylover1955]

My advice is buy in California so you can have an opportunity to own at Grand Californian when it becomes available for sale... PM me if you have questions.

 

[shellbelle1971]

We live in England so can nip over to Italy and France when we want a weekend break...

I wasn't sure whether you meant that you would be planning to go to Italy and France often on DVC points, or that you would simply continue travelling there in the future as you do now. In case it's the former, I just wanted to caution that DVC may be a wonderful purchase for your family, however using points for European travel is often an expensive equation! You also should be aware that many of the locations currently available in the Concierge Collection are being phased out, so buying DVC with the idea of using it frequently for outside-of-WDW stays may not be the best plan.