Bought into DVC on our cruise. Buyer's remorse/panic?

[YoSteph]

Thanks again everyone. We officially faxed over our letter of cancellation. As per usual in most things Disney, they were super nice on the phone when they called to confirm our decision and explain the cancellation process.

Did they give you a timeframe for a refund? I'm still waiting on mine...

 

[disneynutz]

But, there's also zero reason to talk to a guide unless you are buying. And, one can request a new guide at anytime. That should be a non-issue.

Non-issue but the OP needs to know what to expect and how DVD works.



Bill

 

[dreadpiraterose]

Did they give you a timeframe for a refund? I'm still waiting on mine...

Legally they have 20 days. She said expect it in 7-10.

 

[malba2366]

Can we call and rescind? I'd like to ensure receipt and I wouldn't even know where to find a fax machine, heh.

I would fax AND send a letter by certified mail. Make sure to retain the fax confirmation and the certified mail receipt. There is a significant sum of money and a significant commitment on the line.

 

[dreadpiraterose]

I would fax AND send a letter by certified mail. Make sure to retain the fax confirmation and the certified mail receipt. There is a significant sum of money and a significant commitment on the line.

I faxed and already got a confirmation call and email from DVC. No worries.

 

[_auroraborealis_]

 

[jerseyduke]

What is a fax? is that the thing that plays those 8 track tapes?

 

[jmmess]

The good news is that the rate you paid ($140 per point) is almost exactly the same price as the Polynesian ($168 per point) after you adjust for the difference in number of years remaining on the contract. Most of the other resorts are being sold retail at a hefty premium over the Polynesian price so you didn't come off nearly as badly as you could have.

It's actually more than I just bought my VGF resale at!

 

[ColinBlair]

It's actually more than I just bought my VGF resale at!

To be fair, you got an amazing deal with that contract especially considering the relatively small number of points on it. I put your contract at a 27% discount from Polynesian retail. VGF listed resale usually hovers at or just under Polynesian retail and the ROFR thread is showing around a 15% discount.

Considering that SSR generally runs around a 35% discount, I calculate that you were only paying a $13 per point premium over SSR after adjusting for the difference in contract lengths. Nice.

 

[YoSteph]

My refund posted 10 days after I cancelled.

 

[YoSteph]

My refund posted 10 days after I cancelled.

Oh, and five days after that, a Welcome Home kit (Welcome Letter, Memento, Membership Handbook and Magnets) arrived.

 

[KingRichard]

The good news is that the rate you paid ($140 per point) is almost exactly the same price as the Polynesian ($168 per point) after you adjust for the difference in number of years remaining on the contract. Most of the other resorts are being sold retail at a hefty premium over the Polynesian price so you didn't come off nearly as badly as you could have.

Not so much. lol

3 weeks ago they were selling Poly for $150 per point on the Magic. $18 discount and then 3 days later they came out with 10% extra points(still $18).

 

[gdrj]

FYI - The person who called you back wasn't the person who lost the commission so yes they were nice.

Bill

I'm sorry but that is cynical and a huge generalization, as if to say that guide would not be nice.

 

[disneynutz]

I'm sorry but that is cynical and a huge generalization, as if to say that guide would not be nice.

Yes it is, some guides might be nice but when their only job is selling timeshares and they lost the commission after they worked to make the sale, they might not be in a good mood. Quality assurance who called the OP back, they get paid even if you cancel the purchase.

Bill

 

[bumbershoot]

The guide that sold the OP points was likely still on a cruiseship when she called in, so of course it wasn't her salesperson that took the call.

 

[prestoncaldwell]

Thanks again everyone. We officially faxed over our letter of cancellation. As per usual in most things Disney, they were super nice on the phone when they called to confirm our decision and explain the cancellation process.

Now that you've got that taken care of, I'd suggest you join TUGBBS and peruse the DVC forums and learn everything you can about the product before buying resale from a reputable broker not named Disney. One thing you'll learn is that DVC is a great product and that if you buy it resale, there is a good shot you'll sell it for little loss once you decide you don't want it anymore.

Good job on reconsidering.

 

[dreadpiraterose]

Now that you've got that taken care of, I'd suggest you join TUGBBS and peruse the DVC forums and learn everything you can about the product before buying resale from a reputable broker not named Disney. One thing you'll learn is that DVC is a great product and that if you buy it resale, there is a good shot you'll sell it for little loss once you decide you don't want it anymore.

Good job on reconsidering.

We've actually decided not to buy in at all. But thanks for the advice.

 

[ajc]

I bought my first DVC membership at AKL with some financing and I don't regret it. The information packet was very helpful to navigate the resort options and I don't miss the $ from direct withdrawal ($133/mo). My next DVC membership was at Vero Beach as they have the lowest price point & DVC doesn't challenge ROFR as much. Yes, I know the maintenance fees are higher and I have to wait for the 7 month booking window but since my DH & I are empty nesters we don't need premium times to visit. It was an inexpensive way to add to our addiction (we go 3 times a year -Jan/May/October). The annual pass prices with discounts & TIW are worthy perks which I know you can get on a resale but it was easier to navigate the initial ownership learning curve.

 

[GAN]

You could buy a SSR contract (which ends only 3 years before the extended OKW contract) for $80-$90 per point. And the maintenance fees are lower.

Wow ..$80-90 for SSR. That's good to hear. I haven't been following the market lately(obviously), I'm not thinking of selling at this point anyway but it's good to know.

 

[LovesTimone]

DH and I thought about buying into DVC, and almost pulled the trigger on our Disney Cruise last year. Actual we were all set to hit go... actual on our way to the appt. time on the ship, but then I had this nagging gut feeling that said "Don't do it", it was almost making me sick physically. So I said something to DH and he said me too. So we did go and told the rep. that we decided it wasn't for us and how we vacation, he was very nice about it, and said its better to realize this now then once your owners. So if you are having remorse now... go ahead, and get out. Maybe its not right for you right now, things change.