BCV Purchase Questions

[rtp-resident]

Thanks for all the wonderful information on the DIS board. I stumbled across it while researching a purchase of BCV. I SHOULD have bought in 1995 when I first learned about DVC - it would be paid for by now - and all those trips in between would have been covered. But my wife never believed we would go every year (and that was before kids).

I have just received the BCV package which I requested when I saw that point purchase prices are going up. I have been told that the $75 price has been locked in (assuming I buy shortly).

Basically I have a few newbie questions -

1) For those of you who just bought or are contemplating purchase - what are the current incentives? It appears that MB is no longer being offered.

2) From past posts I had the impression that if you put 20% down Disney's financing was approximately 11.5%. The projections included in my package show rates from 12% to 13.5% depending on the 3/5/7/10 year. Does anyone know what the current rates are and do they depend on the "incentives" being offered?

3) There was some indication when I spoke with DVC that they may have some flexibility in my use year start date. Obviously if you started earlier in the year points would be gained earlier for next - but this would be a one time event. If I am planning on trying to use my points in the September to December range - what would be the best use year for me?

4) My thoughts are to buy in at 250 - 270. I know YMMV on point usuage - but does this seem like a reasonable compromise between cost and maximum flexibility for use? I am trying to factor in that for the next few years, kids school schedules will limit off high season time.

Thanks for the help in advance!!

 

[Maistre Gracey]

rtp-resident, I am not an expert on all your questions, but I'll give it a shot until someone more in the know comes along.

1) MB may be offered at a $5 rate for BCV, $10 for VB & HH, depending upon when you purchase and your use year. You must ask your guide on that one.

2) Currently I believe it is 10% down (just did a VB add). Interest is 12.95, but reduced to 11.95 if you have direct payment from your checking account (as of 1 week ago).

3) The best use year would depend on when you travel. Basically in case you had to cancell a trip. You will want those points in your holding account for longer.

4) Buy as many points as possible before the price increase. I originally bought in Feb, and have added 4 times already, including VB!!!

Most of all...HAVE FUN, and GOOD LUCK WITH YOUR DECISION!!!

 

[chris1gill]

I'm pretty sure that right now MB is available, but only paying $5.00 per point, you still have to pay maintenance fees on those points, so you're only getting a little over a dollar per point using MB... MB isn't worth it at 5.00/point IMHO...

If you attend the onsite presentation, you can get 1% (or something like that) taken off your interest rate if you buy right then... buying over the phone, you don't get that extra percent taken off....

250-270 is a good range, we're at 300 & we're pretty happy with that... Mostly for now we'll stay in the 1 bedrooms for 10-12 nights a year, starting our stays on a Sunday... that ranges between 242 & 306 points a year so far.... I'd suggest strongly that you buy the number of points you think you are going to use... But, if you are going to buy 300 points for instance, purchase 2 150 point packages... I only say that, because it's always easier to resell smaller packages should you ever need to do that...

Hope this helps!

 

[mle]

My husband and I recently closed on a BCV purchase. The interest rate is 10.95%, with 20% down and automatic payment debit.

With Sept through Dec reservation dates, from my understanding of banking rules and cancellations, it looks like your best use year month would be March (please someone correct me if I am wrong!).

The reason for March is this:

You have until Aug 31st to bank 100% of your points; if you make a reservation in Sept and need to cancel it, you would want to do that within 31 or more days prior to the arrival. If you are unable to reschedule that trip before the end of your use year, you are still able to bank all those points for use in the following year. (As a side note, if you cancel a reservation 1 - 30 days prior to your arrival, all your points go into your holding account and must be used in that use year; you are not able to bank those points.)

Likewise, if you made a reservation in Dec and had to cancel, you will have until Nov 30th to bank 50% of your total point allotment (which should be okay, assuming you already used at least half of your points prior to Dec). And subsequently, with a March use year you have until Dec 31st to bank 25% of your total point allotment.

It wasn't clear from your post whether or not you would be taking multiple trips between Sept and Dec, or one trip somewhere between Sept and Dec. My March suggestion was obviously assuming the former (you can't just go once a year!). With an April use year the banking schedule is 100% by Sept 30, 50% by Dec 31th and 25% by Jan 31st. A June use year (there is no May) would allow you to bank 100% by Nov 30th, 50% by Feb 28th and 25% by Mar 31st.

If they are not currently offering the month that you deem best for your needs, just ask your guide about getting approval for that month.

Also, I agree with Maistre Gracey and chris1gill. Buy as many points as you can now. When we bought our 260 pts, we had an option of $10 off the price per point (not Magical Beginnings) or 10 nights complimentary stay at any of the resorts, except the Grand Floridian. We chose the complimentary accomodations, knowing that we were planning a trip for our annivesary (that's how this whole DVC "thing" started), and thought we would bank all our points. NOT! In addition to using most of our points for a two bedroom in Aug (bringing parents and in-laws), we are doing a small add-on at Hilton Head. I'm also on the look out for a small add-on at VWL or BWV, but DH doesn't know about that yet!

Hope this was helpful.

 

[Terry S]

Chris1gill... the 1% discount on interest rate is not for on site buyers only. The way this works is it is for first time buyers only and you can get it if you purchase within 30 days of first talking to DVC rep, weather it be by phone or in person. This would make the lowest interest rate available with direct debit 10.95%.

 

[Maistre Gracey]

I didn't get that 1% discount

 

[Terry S]

Maistre Gracey... I noticed you said you just did an add-on. The 1% was for first time purchases only. I don't know when you originally purchased, maybe they were not offering this at that time.

 

[spruce]

270 points is a good amount of points. We originally bought 164 then added 64 and then 50. We are now at 272 points. With Sunday starts and lower point seasons, we were getting 2 trips a year out of 228 points. Now, with 270 points, we should get 3 trips or a longer stay for our normal 2 trips. If we got creative, we could go for just about 3 weeks in January with 10 nights in a 1br and the rest in a studio with 1 weekend off-site. Add to that other timeshares we own and we could do 5 weeks in Florida when it's pretty cold here in Pa....spruce

 

[mle]

Both my initial purchase (at BCV) and my add-on (HHI), about two weeks later, are at 10.95%. Both 20% down, direct debit. For the add-on I was going to put 20% down plus the $10/pt. MB credit on top of it, but my guide suggested I put the minimum of 10% my own money, then apply the MB credit to the balance(about 13.3%).

 

[Terry S]

mle... your add-on was still within 30 days of your original purchase, this is why they allowed the 10.95% interest rate. We did the same thing, I called my guide about 3 1/2 weeks after our initial purchase at BCV and asked to do an add-on at BCV because we decided we wanted more points, he told me that as long as it was within 30 days of the original purchase we would still get the 1 % discount.

 

[mle]

cool. maybe I could squeeze another one in before the end of the month... (just kidding!)

 

[Maistre Gracey]

I guess I did not get the 1% decrease because we put down 10%. DARN! If I knew, we would have put down 20%. Oh well, hopefully not that big of a difference.

 

[HookdonWDW]

We put down 10%, and we received the 10.95% interest rate

 

[rtp-resident]

Thanks for all the wonderful advice. Hopefully it will help prepare the discussion with the guide. One clarification if anyone can say. The projection sheet I received showed financing interest rate percentages varying with the number of years financed e.g. 3/5/7/10. The 1% reduction - does this apply to each level of financing or is there really only one level 11.95% with a possible 1% reduction making it 10.95% with auto debit?

Or did everyone who responded finance for differing lengths of time - perhaps giving a reason for differering rates? It may be too personal for everyone, but I thought I would ask.

Thanks again!!!