Are we crazy: Cash price for WL 2 Bedroom villa

[khanna]

I put this in my updated post on a thread on this page, but I thought I would post it here really quick. We are set to go end of April, pay cash price for 2 bedroom WL villa. Our guide is like (and I can see her point),that is soo much money--it could be your down payment on DVC!!

We are looking at 150 points, VGF home resort, they will convert April's WL stay to DVC if we buy. But then we have to finance about 24K. I almost just want to pay the 7K for the one trip and be done with it. Is that crazy??

 

[JohnDaleswife]

Yes. Yes it is.

 

[mort1331]

If its a one time trip then NO. But if you plan on going multiple years and at this level, then YES. Only you know that answer.

 

[khanna]

THank you both. I think that is the thing we don't know--how often will we go and want to stay on site in a 2BR villa? We like staying offsite too. We also like to go to other parks and non disney vacations. When I think of paying the maintenance fee for 50 years....whoa. That adds up. Lots to think about.

 

[bellablue2]

I put this in my updated post on a thread on this page, but I thought I would post it here really quick. We are set to go end of April, pay cash price for 2 bedroom WL villa. Our guide is like (and I can see her point),that is soo much money--it could be your down payment on DVC!!

We are looking at 150 points, VGF home resort, they will convert April's WL stay to DVC if we buy. But then we have to finance about 24K. I almost just want to pay the 7K for the one trip and be done with it. Is that crazy??

oh my...finance $24k, i'd say no in a hurry.

did you try to rent points for this trip...could you forget about this trip for awhile and put that cash rental payment toward a resale vwl contract. i feel quite certain you can get for something around $80/point with this year's points at a minimum, $12kish for 150 vwl contract.

think outside the box a bit and see if you can't come up with something better than the two options you see now.

 

[Missyrose]

THank you both. I think that is the thing we don't know--how often will we go and want to stay on site in a 2BR villa? We like staying offsite too. We also like to go to other parks and non disney vacations. When I think of paying the maintenance fee for 50 years....whoa. That adds up. Lots to think about.

Your signature says you just celebrated being debt free last spring. I don't think your next move should be to take on $24K worth of debt for a timeshare purchase. Perhaps take the $7,000 you were putting toward a cash trip and buy a resale contract.

 

[khanna]

Thank you all. Yes, we are huge Dave Ramsey fans and went through Financial Peace. This is why I have such an internal conflict with DVC. I like the idea of DVC but then when you put the numbers on paper, ouch, unless we could save up and pay out of pocket. I am looking into renting points for our upcoming trip. We will see. Thank you again!

 

[cmrdgrs]

Thank you all. Yes, we are huge Dave Ramsey fans and went through Financial Peace. This is why I have such an internal conflict with DVC. I like the idea of DVC but then when you put the numbers on paper, ouch, unless we could save up and pay out of pocket. I am looking into renting points for our upcoming trip. We will see. Thank you again!

First of all congratulations on getting yourself out of debt! I know what a burden that lifts and how good that must feel

With that said, and this is JMHO, but if you have to finance, I would strongly encourage you to not buy in to DVC. All your savings is lost when you finance. Now, as other's suggested, a resale contract, that makes much more sense. But, either way you have to know that you are willing to use your DVC membership every year. Many people do (me being one of those people), but going to Disney annually is not for everyone. You don't sound all that convinced it is for you.

For this reason, my advice is don't get sucked in to the emotional decision to buy. Pay cash for your 2 bdrm stay, enjoy and know that you can walk away without a 50 year commitment. Dave Ramsey would tell you the same, I'm sure.

There are lots of options for renting either from a broker (like the board sponsor David's) or from a private owner if you want a harder to get resort like VGF, VGC or PVB.

Listen to your heart and to Dave Ramsey

 

[DizBub]

I am looking into renting points for our upcoming trip. We will see.

Looking on a popular rental site I see that renting points costs $4900 for a 2 bedroom at VWL during your timeframe. That is significant savings over a cash reservation ($7000?) I have sticker shock!

 

[Sandisw]

Thank you all. Yes, we are huge Dave Ramsey fans and went through Financial Peace. This is why I have such an internal conflict with DVC. I like the idea of DVC but then when you put the numbers on paper, ouch, unless we could save up and pay out of pocket. I am looking into renting points for our upcoming trip. We will see. Thank you again!

IMO, if you are not 100% sure that DVC is right for you, especially given that you would need to consider financing it, you are not at a point to buy.

Take time to learn about DVC and whether or not it is right for you. If you decide it may be something worth investing in (and I don't mean to use invest to mean investment), then you can take the time to look at all the options, including resale.

For example, those 150 points on the resale market would run you close to 12,000 vs 24,000 via Disney...that is a HUGE difference.

DVC is a long term commitment and you have to be sure before taking it on.

Good luck!!!

 

[cmrdgrs]

Looking on a popular rental site I see that renting points costs $4900 for a 2 bedroom at VWL during your timeframe. That is significant savings over a cash reservation ($7000?) I have sticker shock!

I definitely agree DizBub that OP might want to consider a DVC rental. There is still savings to be found if she can get her dates -- even at $14pp through a broker.

 

[Just Peachy]

Looking on a popular rental site I see that renting points costs $4900 for a 2 bedroom at VWL during your timeframe. That is significant savings over a cash reservation ($7000?) I have sticker shock!

Having just rented a 2BR for a week in July, I went through the prices from Disney Travel with suites and they were all $7K - $9.5K depending on the "theme and hotel". I rented from a DVC owner for $4300 for the same length of time.

Oh...and I did decide to purchase DVC re-sale but the contract did not close in time to get the premium location in July and I had to unload another property to buy DVC with cash. I looked at the cost to finance (even using Home Equity or 401K loans) but the cost didn’t make sense if I only went to Disney every other year and took too long to pay back even with yearly visits with financing a Disney Direct buy.

 

[sweatandsteel]

Thank you all. Yes, we are huge Dave Ramsey fans and went through Financial Peace. This is why I have such an internal conflict with DVC. I like the idea of DVC but then when you put the numbers on paper, ouch, unless we could save up and pay out of pocket. I am looking into renting points for our upcoming trip. We will see. Thank you again!

We are huge Dave Ramsey fans as well and have been through financial peace. We decided to buy 150 points at VGF in December because we love WDW and could have already paid for it with as many trips that we have taken. We financed ours but plan on paying it off quickly. We also got 2014 points with our August UY and were able to book a 1 bedroom at VGF in October! Good luck with your decision!

 

[cde48]

Buy a resale. It will be a few thousand more than what you are paying for a week, and will have it for years to come.

 

[KAT4DISNEY]

I put this in my updated post on a thread on this page, but I thought I would post it here really quick. We are set to go end of April, pay cash price for 2 bedroom WL villa. Our guide is like (and I can see her point),that is soo much money--it could be your down payment on DVC!!

We are looking at 150 points, VGF home resort, they will convert April's WL stay to DVC if we buy. But then we have to finance about 24K. I almost just want to pay the 7K for the one trip and be done with it. Is that crazy??

I really don't see any sort of vacation habits that indicate DVC is a great product for you. Not going every year or two, willing to stay off site and needing to finance would lead me to a quick no, don't buy. Even if DVC seemed to make sense I wouldn't recommend buying direct from DVC at VGF unless you absolutely wanted to stay there all the time. You can get far greater value buying resale if you like to stay at different places.

I would however recommend looking at renting points for the times you do want to stay onsite in a 2BR villa.

 

[Pirate Granny]

We rented points for our OKW GV stay...we tried it out, and the family agreed it would be a good fit for our family, yes the $7,000 would've been almost the cost of the contract, but we needed to try on the shoe so to speak.

I would rent the points for your trip, IF it is still available. Also, you need to understand, there is no free dining when you own at DVC. There are no package deals, unless you rent the reservation directly from disney at almost double the cost of a point rental reservation.

 

[davedmaine]

I put this in my updated post on a thread on this page, but I thought I would post it here really quick. We are set to go end of April, pay cash price for 2 bedroom WL villa. Our guide is like (and I can see her point),that is soo much money--it could be your down payment on DVC!!

We are looking at 150 points, VGF home resort, they will convert April's WL stay to DVC if we buy. But then we have to finance about 24K. I almost just want to pay the 7K for the one trip and be done with it. Is that crazy??

You're a Dave Ramsey fan. Call him and see what he thinks about financing $24,000 for a timeshare.

 

[cde48]

You're a Dave Ramsey fan. Call him and see what he thinks about financing $24,000 for a timeshare.

By the time they are done financing the contract through Disney, they could have three resale contracts for the price of one direct. If you finance it for 10 years, it will cost you close to $36,000 by the time they are done. OUCH!

 

[khanna]

We decided we are NOT buying DVC at this time. Timing isn't right for us. Maybe someday, but not now. Thanks for your thoughts everyone

 

[Disneybuckeye]

No, I would not finance $24k for a DVC purchase. Of course I would not pay $7k for a week in a two bedroom either. I also agree that your vacation habits do not mix well with owning DVC.

Enjoy your trip.