Best way to new DVC membership?

[jellymoon]

What is the best way to join DVC?

What are the advantages/disadvantages to purchasing resale vs. direct from Disney?

Also, when we did a Disney Cruise in 1999, we were given the opportunity to put the entire cost of our Land/Sea Vacation towards our DVC membership. We wouldn't get to use our points that year, but still it would have been a savings (it seemed). We chose not to do it at that point--- now I wonder if we were crazy!!!

We are doing another DCL this fall--- 7 day western. We booked through Costco. Any chance we will have the same opportunity? We are booking 2 category 4's, not to mention staying 2-3 nights at AKL beforehand, so it will be a heft chunk that would be nice to put towards the DVC buy-in.

What are the annual maintenance fees?

What are the chances of the Beach Club still having membership opportunities come Sept/Oct? We stayed at Boardwalk and LOVED the ambiance of the area. A GREAT location--- especially with the great dining just across the bridge at Epcot, and the great "street performances" along the BW.

Thanks!

 

[Happy Birthday Cat]

jellymoon,

Did you book through a travel agent the last time or through Disney? We were allowed to put our cost of staying at the VWL toward our purchase of DVC, but they made a point of telling me that it was a good thing I booked through Disney and not through a travel agent.

HBC

 

[Lars624]

Hi- I can't answer all of your questions but I think I can answer at least the one about any BCV being left in Sept/Oct. They are about 40 percent sold now and they project being fully sold out by the end of the year.
We just joined in May and we got dinner for our family of five for taking the tour. I think the deal you were offered in 99 was a great deal and I hope you can get it again.
Good Luck

 

[wdwsos]

You'll get a lot of great info from the people on these boards and also from the FAQ located here. I also maintain a DVC Primer on Deb Wills' site if you need another place to get information. It may (or may not) fill in some blanks.

http://wdwig.com/dvc.htm

 

[Disney Adventurer]

I'm not a pro at this but maybe I can help with a few questions. We were staying onsite January of 2001 when we took the tour. I asked the same question about applying the cost of this vacation against the purchase and the anwer I got was that the Magical Beginnings program was all they were offering. If I'm not mistaken this is a Disney buyback at $5/pt at BCV's for your first years poinst (someone correct me if I'm wrong). As far as buying resale there are no drawbacks. The big difference is if you go through Disney you can finance and Disney pays closing costs. If you purchase resale you will have to arrange your own financing or pay cash and will probably have to pay closing costs but this can be negotiated with the seller. Just be sure to factor in closing costs and make sure you understand how many points the seller has banked or borrowed before determing if the resale is a good deal or not. This affects price and how maybe how soon you will be able to vacation. We bought resale and have no compaints at all. Just remember BUY WHERE YOU WANT TO STAY !

 

[WolfpackFan]

Originally posted by Disney Adventurer
The big difference is if you go through Disney you can finance and Disney pays closing costs. If you purchase resale you will have to arrange your own financing or pay cash and will probably have to pay closing costs but this can be negotiated with the seller.

The thing about Disney financing is that the Disney interest rates are absolutely ridiculous. They have a "special" rate right now of 10.95%. Sheesh, I get credit card offers thru the mail everyday that beat that interest rate by a mile and my home equity loan rate right now is only 5%. I'd love to have Disney finance my purchase just because of the simplicity of doing it, but not at that ridiculous rate.

 

[mikesmom]

You can buy from Disney and not use their rate. We've bought twice and never used their financing. Rolled it into a home equity loan which is much, much lower. Put the down payment on a VISA card that gave us air miles and then paid that off immediately.

 

[carriep1657]

mikesmom, I was just wondering if there was a limit to how much Disney will let you charge on your VISA. We are considering DVC and I LOVE getting miles.

 

[KathyR]

carriep1657-
You can charge the whole amount if you like.

 

[erikthewise]

We got a brand new rewards credit card, called for and got a higher credit limit, and put the entire amount (minus the deposit) onto it. It's only 2.9% for the first six months, so we'll pay it off what remains with home equity line after a few months. Don't even think about using Disney credit (or, god forbid, leaving it on a credit card with a high rate!).

With resales you have to watch closely how many points are left. If all the first year points are already used, that may effectively cancel any savings from buying resale. Closing costs can also make a dent in resale savings.

Using first year points is easier if you buy from Disney. If you buy from Disney they let you make reservations with your points as soon as you make a deposit (they give you a member number right away). As I understand it, with a resale you have to wait until closing, which may be as much as two months later. At some times of year that can make a difference as to whether you can get what you want (or anything at all!) at a DVC resort that first year.

 

[carriep1657]

KathyR and Erikthewise, thanks so much for the info. That is great news. It will definitely be a selling point for DH. I'm all for becoming a DVC member and he's on the fence. I can't wait to tell him about all of the miles we can get.

I hadn't even thought about calling to raise our credit limit. That's a great idea. I had planned to charge as much as I could and then pay it off right away. But, it would be even better to get a new card with a great rate for a few months like you did Erikthewise. I can get better than 2.9% on my money market and split the payments over 6 months and make a little bit more than I'm paying in interest.

I'm so excited, I can hardly stand it.

Thanks again.

 

[Traveliz]

Reading all this has me wondering --

When you buy through Disney or a resale - do you go through a credit check etc like you do when you buy a property - making the process sometimes last a lot longer or can you simply pay with cash and be on your way?

I assume if you finance there would be whatever credit checks are necessary through that creditor but hearing where people are putting the purchase on their Visa and then getting miles is certainly interesting and tempting. (And yes I know to pay it right off).

Liz

 

[erikthewise]

I suggest you call DVC to ask about the financing credit check.

For what it's worth, I've heard that DVC doesn't even bother with a credit check. After all, they have the perfect collateral. If you default, they just take back your points.

 

[Traveliz]

Actually if I bought I think I would go just cash - that is why I was asking about the credit check process - I know often that adds time to a project. I really don't want to finance.

Liz

 

[Shontell_Crawford]

Things have changed in the 10 years DVC has been around, so I'm sure what everyone wrote was correct when they bought. The good news is that now you can finance a resale, but the rate is not better than Disney. Tammac financial offers 11.5% for 5 years - no prepayment penalties. As for the miles I have a MilesOne card and they send me "purchase checks" which allow me to accumulate miles. You could use one of those to pay for a resale as well. So, you can save on the purchase price, get the miles and/or finance!

Talk to your agent for all the options. If you have any specific questions about resales - feel free to give me a call, I'll be happy to go over everything even if you opt to go with Disney.

BTW, Disney does do credit checks. But they are very lenient from what I've been told.

All the best,
Shontell

 

[robinb]

jellymoon, welcome to DIS!

It sounds like you might want to use DVC for booking Disney cruises. While many people do use their points for cruising, it is my opinion that actually paying cash for a cruise is more cost effective. DVC points are best spent at the DVC resorts.

Here are the current annual dues on a per point basis:
OKW $3.22
BWV $3.92
BCV $3.77
VB $4.17
HH $3.49

 

[dizfanz]

As to the credit check question, if you are financing the purchase through Disney, then a credit check is performed, that I know of. If you pay cash, then I would imagine not, but since you pay dues regularly, maybe. Doc, what's your ruling on this?