Anything specific to a UK person buying DVC ?

[Martin S]

Hi All,

As you probably noticed from my earlier rental thread we are planning a trip in 2004 to the BCV. The more we think and talk about it and the more we do the maths we think it might be best just to take the plunge and buy into the BCV while its still available.

DS is 6 months now and we figure we'll be going to WDW at least every 2/3 years until he's a teenager, we also like the idea of staying at VB and HH.

We're doing loads of research at the moment, but is there anything more specific to a UK person buying into DVC that I should know ?

TIA

 

[Peebee]

Hi Martin,

We took the plunge about 3 years ago at BWV and apart from the first 30 mins after signing away the money thinking 'what have we done ?', we've never regretted it. The trips to DVC have proved to be wonderful times, and we've been able to stay at OKW and WLV as well as our home resort (maybe BCV in the future, too, although the Boardwalk will always be our fave).

I don't think there is very much with DVC that is different for UK members, but these are the things that spring to mind:

- Member dues. US member can pay these monthly from their bank account, whereas we need to pay up in one go when the bill comes each year. Credit card is fine and can obviously spread the payment a little as well.

- Phone calls for reservation. Last year Disney set up a freefone number for making reservations from the UK (number is on the member's site), and this has cut down our phone bill considerably, especially when you are calling each day to add another night to a trip at a popular time.

Apart from that, I think we're pretty much the same as the US members. Do you have any particular questions about the whole thing ? If so, just ask away.

Paul

 

[Penny12]

The only other thing I can think of is exchange rate fluctuations - but this can work in your favour as well as against it.

For instance - last years dues were due when the exchange rate was very poor for us. This year however, despite the fact that there was a rather large rise in this years dues - the exchange was much better and actually cost less for 'us' than the previous year.

Swings and roundabouts

 

[Martin S]

Thanks for the advice, one more question:

Did you buy resale or direct through Disney ? It seems that you can save some $ in a resale but I think I would like the peace of mind of buying through Disney.

 

[Penny12]

I bought through Disney, just because I was there, saw VWL and was impressed - also, because I could sign all the paperwork, it seemed easier.

However, I'd have no hesitation on buying a resale. Infact, I was going to add-on at BCV, but I think I've decided I'd prefer BW - so the only way forward for that is re-sale.

 

[Peebee]

Like Penny, we bought directly through Disney whilst we were there.

Back then we weren't aware of the option of the resale market, but also used Disney's financing for part of the cost which made things a little easier.

If you're looking for BCV you might have a little more of a wait for a resale than at the other resorts as it's still so new.

Paul

 

[Hilary]

We bought direct from Disney (all done over the phone - very, very easy!) because we both felt safer signing away such a lot of money to a large, international company rather than plunging into the resale market with potential unknown pitfalls.

Now I think I would be quite comfortable buying a resale if I wanted to add on, as I'm more familiar with the way the whole DVC 'thing' works. However, I'm pretty sure I would still be looking to deal with Disney if I was making that initial purchase again. We're just naturally very cautious like that!

As far as buying from the UK - it couldn't be easier. I had several very long phone calls with my guide (their telephone bill, fortunately!) before all my questions were answered. The paperwork was posted out by FedEx, we signed and returned it all, and hey presto, we were in!

One of the most common 'regrets' with DVC owners is that they didn't buy when they first thought about it, but spent too long mulling it over. If you think you're likely to join somtime, then do it now before you spend ££s on another vacation which could be taken on points.

Good luck with whatever you decide

 

[MickeyMcMouse]

Like Hilary, we also bought direct from Disney, "sight unseen" with our guide having no hesitation of telephoning me on my mobile and having half hour conversations.

Our add-on at BCV's was also done with Disney, but this time was even easier as there was no deposit to pay. The total was needed after the paperwork had been processed.

All they need is your cc number and off you go. - its a great way to rack up those airmiles

David

 

[Bexx]

I bought my initial contract resale, through the Timeshare Store. I really had very little clue as to what I was doing, as I found these boards AFTER I became a member! But they were a company recommended on a DVC FAQ and it's been confirmed since on DIS that they are a completely reputable company. If you ask on the US DVC board they will mention several companies, all of whom people have been very happy dealing with.

Resale is definitely a bit more of a hassle than buying from Disney - I bought an add on at BCV, so I have had experience of both. But if you find a contract for the place you want (if not BCV or Vero), at a good price (once you added on closing costs of about $450 -$500) don't let a tiny bit more work put you off. The main problem with resale at the moment seems to be that people see a contract they want, usually for less than $70 per point, and at that price Disney then exercise their Right of First Refusal and buy it back. Obviously this can mean a lot of upset for the potential buyer and the need to start looking again for another contract.

If you need any more info about resale I'll be happy to help.

 

[Martin S]

Thanks for all the posts its really helping.

I didnt know about this buy back option, I suppose Disney buy them back to keep their sale price competitive.

Seems like a fairly risk free investment to me (although i fully understand that things might change), you buy 150 points and pay Disney $12750, if in a few years time it is not working out and you are not using it you can resell it for about $9750 (assuming a low $65 per point resale). The bottom might fall out of the DVC market I suppose but given the popularity of Disney over the past 20 years I very much doubt it.

Am I missing something here ?

 

[chris16]

Hello
I also bought a resale Timeshore store Summer 2001
Off OKW 1 bedroom in 13 days!
Never done anything like it before, but very straightforward.
I put in an offer - I think $68/point - asking price but with agreement that the seller paid the closing costs. - all offer and acceptance done by e-mail with a phone call from the timeshare store to me at the end. You can effectively pay a lower price per point but the headline figure to disney is higher by asking seller to pay closing costs.
Then a couple faxes from me and the documents to sign and return from the timeshare company
Your money is paid in escrow to another company who safeguard it until the deal goes through.
Your cards and new member pack come from Disney just the same, and the main advantage apart from cost is that you can chose a resort that is otherwise unavailable through disney.
Let me know if you want any details about any bit of the process.
Regards
Chris

 

[Martin S]

Looks like DW is convinced its a good idea as well so I think we'll start make more detailed enquiries, another quick couple of question for you guys :

Ive requested a call back from the DVC Website and a DVD for info but nothing has some through yet, that was about 2 weeks ago. Is this the best route to start discussing things with Disney or should I make contact with a specific sales person you can recommend ?

If I buy now and intend mostly to visit in October/November, or occasionally May I was figuring an August Use year would be a good bet, does this sound right ?

Also if I buy is the next few weeks and get an August Use year do I get all the points for this year or are they pro-rata'd, ie I get points for April through August for this year ?

TIA

 

[Hilary]

I don't know how quickly (or slowly!) you could expect a response from the website enquiry, but I don't suppose it would hurt to get in touch with a guide directly.

Our guide has been very helpful and did not try to pressurise us at all (as if that was needed! ). Her name is Linda Streetman, and I have her number down as 001 407 566 3045. Don't be put off if you get her voicemail - she has always been excellent at calling me back if I've had to leave a message. Also, if you do get straight through, ask her if she could call you back as you have some questions - that way you won't end up with a big phone bill!

Use Year - we will most often visit in Oct / Nov and sometimes March / April and our use year is March. Mention all this to your guide and they can expalin the best scenario for you. It's all to do with banking deadlines in the event of late cancellations so that you won't lose points.

If you purchase through Disney they will likely only offer you certain use years, depending on when you purchase and what's available. I think I'm right in saying that you'd get all of the current year's points (i.e. Aug 2002 / 3 in your example) unless you opt for the Magical Beginnings option (do you know what this is?).
If you buy resale, then points remaining for the current year will vary from contract to contract.

 

[Martin S]

<< Magical Beginnings option (do you know what this is?). >>


Hmmm, the answer is no , looks like I've got quite a lot more research to do !! and just when I thought I was beginning to understand it all !

 

[Hilary]

LOL

Magical Beginnings - if you buy at the moment (and maybe up to the end of May?) direct from Disney, you can sell your first year's points back to Disney, thus reducing the cost of the initial purchase price per point.

I think the current MB offer for BCV is $5 per point, (and $10 per point for Vero Beach) but you'll find more threads about this over on the main DIS DVC board. So, supposing you bought 150 BCV points @ the asking price of $84 per point
150 x 84 = $12,600
then sold them back to Disney under MB for $5 per point, you'd actually 'only' be paying $79 per point - making your total purchase cost
150 x 79 = $11,850
You would save $750 but lose the use of the first year's points. This may or may not be attractive to you if you were planning on using the first year's points, or whether you could wait for the next allocation of points (and that might depend on when your use year is). Of course, after closing you would be able to borrow next year's points anyway!

Also if I buy is the next few weeks and get an August Use year do I get all the points for this year or are they pro-rata'd, ie I get points for April through August for this year ?

BTW, I forgot to say before that even though you would receive the whole year's allocation of points even if you were half way through your use year, you would only pay annual dues pro-rated for the months remaining in that use year (if buying through Disney). Again, for buying resale, all these 'minor details' would vary from contract to contract and negotiation with the seller.

 

[Hilary]

P.S. Looking at some of the threads on the main DVC board, it looks as though MB for BCV is $10 per point!

 

[Martin S]

Thanks Hilary, I really do appreciate the help.

The magical beginnings may be an option for us depending on the use year I get as we are not planning our next trip Oct 2004, DS will be 2 then, and we will have all the 2004 points and could borrow 2005 points as well for the trip. Might regret this come 2005 however !! Decisions Decisions.

I'll make that call to DVC tonight or tomorrow and see what they say.

 

[paulh]

why not do what we did as we got 200 points the first time we went we did the cruise banked 200 and browed 200 that gave us 600 to play with.i say taht you should buy now as if you plan on going to disney for at least 4 visits it will pay for its self
PaulH