Am I understanding correctly?

[dvcwannabe]

Before I call Disney and sound really out there, am I understanding this correctly? With Magical Beginnings I can purchase BCV at $10 below current price of $84, which should be $74 per point. The catch is I would "resale" my points to Disney and not have any points this year? Do I have to pay closing cost or other fees to Disney after the $74/point and losing my first year of points? Or am I totally off base here?

 

[KANSAS]

DEAR SIR

IF YOU PURCHASE 200 BCV POINTS with a August,2003 USe year.

The purchase price will be $74 per point.

You will have the use of 200 BCV Points in August,2003.

you will not receive an additional 200 BCV POints, that could be banked and become additional Points available for August,2003.

you can use a credit card, or disney financing.

I also believe that you will no dues for the 2002 BCV POInts that you sold back to DVC for $10 per point and

you will pay
only 2003 annual dues for the period of Feb 17,2003-December 31,2003,
so a slight savings

I am sure, if this is not all correct. I will be correcetd by someone in a future reply to this thread

 

[anniet]

That's right about everything except the dues....you do pay dues for those 2002 points. Although I believe they will be prorated with the beginning of your use year.

Disney takes care of all closing costs, so yes you would only be paying $74 per point for the contract.

It's a pretty good deal when you consider Disney is selling you a contract that begins in 2002 and it's unlikely most people would need to use those points at this time.

 

[KANSAS]

Annie T

are you 100% sure about your statement having to pay 2002 Annual dues.

I am reading an email, from my DVC guide.

He states in this email, that you do not have to pay 2002 Annual dues under this MB PROGRAM

which is different from MB Program in the past

IF you believe. I am still incorrect. Please correct me.

 

[dvcwannabe]

Kansas, does this mean I have to buy 200 points? I was thinking more on the lines of 175. Will they not let me buy less?

 

[KANSAS]

DEAR SIR

IF you are not a dvc owner, you must purchase at leats 150 pts
if you are already a DVC OWNER, you must purchase at least 100 POINTS

 

[RobDoc]

With a purchase from DVC, dues are always prorated from the offer date to the end of the year. Dues always run Jan 1-Dec 31 regardless of use year.

A purchase today of a 175 contract with an October use year would get you 175 points from October, 2002 and then another 175 points in October, 2003.

You will pay prorated dues from Feb 16 thru Dec 31 on those points. If you use MB, you will get a reduction in the purchase cost of $1750 and will lose the use of the 175 points from October, 2002. You will still have the use of the October, 2003 points. Cost of the contract will be $12,950 ($14,700- $1,750). There will be no closing costs.

If you don't use MB, the sales price will be $14,700 and you will have use of 175 points from October, 2002 immediately amd may borrow from October, 2003 once closed.

Enjoy!

 

[randy55]

I just purchased 200 BCV points with June use year. Since I'm not going to Disney until July, I took advantage of MB for the 200 points for the 2002 use year, I'll get another 200 point in June for our July vacation.

I was told by my Guide that there would be no dues on the 2002 points but I would pay a prorated amount for the 2003 points.

Good Luck!

 

[dbond]

The discussion about the dues on new contracts gets so confusing sometimes. Think of it this way, if you own points in 2003, you will owe dues for the days of ownership. You are not necessarily paying for your use year points. You are paying for ownership. When you buy a new contract through Disney, they will charge you dues from the day you sign the deal throgh the end of the year. Those dues are for the year 2003. You will again be charged dues for the calendar year 2004 in January of next year. So, when you think of dues, think from Jan-Dec, not from use year to use year. Using MB does not give you a break on the dues, dues are charged per calendar year, they have nothing to do with your use year and you begin to pay the day you become an owner. In other words, the dues that you will be charged if you bought a contract today, would be the same whether you used MB or not. Does that make sense?