buying a little at a time???

[dis2cruise]

I am a person that has "0" balances on my credit cards, the companies hate me .

so, me and my husband wants to get a dvc....however, i really don't want to finance it. does it make more sense to buy a little at a time so we can pay it off right away from a broker than going through disney's dvc or does disney has some kind of promo going on???

 

[tammymacb]

Buying small resales and add ons won't be particularly easy.

Keep a few things in mind when you're looking around. First of all, good small contracts are extremely difficult to come by. I just added on a resale. My broker had me on a list and called with a perfect contract and I bought it before it ever hit the web. Most small contracts that go up are stripped and even those are usually gone the same day.

So, lets say that you find your small contract #1. Then you're ready to add contact #2. Well, at that point, you're even more limited in your offerings. I'm assuming since you're going to start small and add, you'll want all the same UYs so you'll be waitlisting for a decent contract at the place you want, with the number of points you want AND the same UY. Those contracts are often few and far between.

Also, keep in mind that with every resale contract you'll pay a little over $300.00 in closing costs and the smaller contracts are always more expensive ( per point ) than larger contracts.

I don't know how many points you want to add on, but there often some decent 150+ point contracts available that aren't stripped. You will pay less per point, only pay closing once and only got through ROFR and wait for you points once..( you'll be happy about that )

I know I have good credit and get offers all the time. When I bought my resale, I used a credit card check which offered 3.9 financing for the life of the loan. I've set up my own payment plan and really don't feel bad about the interest rate.

Good Luck.

 

[ZekeKelso]

If you don't want to finance, I think the best thing to do is start saving money in a special account and rent points for a year or two. I wouldn't start buying really small contracts, as the cost per point is a lot cheaper if you can buy at least 100 points at a shot.

 

[chalee94]

does it make more sense to buy a little at a time so we can pay it off right away from a broker than going through disney's dvc or does disney has some kind of promo going on???

i think it's a good idea, especially if it's just you and your husband. buy a 50-100 pt contract for cash if that works better for you and stay in studios for the next few years till you add-on.

it's very sensible to avoid financing luxuries like DVC.

i'm starting small myself. if you are ok with 5 weeknights in a studio, it is a great way to try out DVC, but it does have its limitations.

just call TSS and get on their email list of contracts that are available for sale and be ready to call immediately if you see one that you like. after that, adding-on directly is often cheaper and easier than buying another small resale (as mentioned, finding the right use year month in a resale is tougher and resales have closing costs while add-ons do not.)

but if you have kids and need the extra room, financing a larger contract may be a better idea despite the potential pitfalls. and cost per point is definitely lower if you start with a larger contract (great if you're buying, bad if you decide to sell.)

 

[Deb & Bill]

Buy a small resale through a reseller. Then you can add on to that contract directly thru Disney. But small purchases through Disney will not get you the incentives. Usually you have to buy at least a 100 points or more to get any incentive.

 

[ldo]

We bought 50 points VWL and paid cash. It was just the right amount of points for us to start--5 days sun-thur is a studio. Now, we are going to add-on 50 points at AKV directly thru DVC (no closing costs). I think it will be the perfect combo for us--we love both resorts--and with banking and borrowing, I can have up to 150 points at either resort to use for home resort priority (I want VWL for Christmas and AKV for other times). 100 points is about all we need at this point--so, yes, it worked for us. Elaine

 

[dis2cruise]

I think this is what we will do buy a little at a time I don't like financing anything....

now what companies are good ones any suggestions????

 

[tammymacb]

Good luck choosing your contract!

You'll love it.

 

[disneykidatheart]

I think buying a small contract is a great idea to start your DVC stays. We bought a small contract at OKW to "get our feet wet". After a couple stays we knew we were hooked and added on another small contract and another one again earlier this year. In each case we were able to pay cash. After we complete the current contract we have made an offer on, we will have all the points we are ever likely to buy.

I don't agree that the smaller contracts are usually stripped. They do cost a little more but I have still come out ahead by buying through resale on each purchase. By patiently watching the resale board on a regular basis you will find a contract. Talk to a broker and get on a wait list with them so you will be contacted when one becomes available and before it hits the website. Be prepared for the purchase process to take longer.

That said, some resorts are easier to find on resale than others. We love OKW and they are pretty easy to find. There are two 50 point contracts available right now, one with a September use year and the other with an October use year. Good Luck. You will love DVC.

 

[starwood]

We started with a 100 point contract from a reseale. DH thought that would be more than enough points. We paid cash. DH then decided we probably needed more points so we added on 35 points from DVC. After our first trip DH decided maybe another add on was needed so we added on 50. We now have 185 and paid cash for all of it.

 

[Laxmom]

I think this is what we will do buy a little at a time I don't like financing anything....

now what companies are good ones any suggestions????

We bought a 50 pt contract with all 07 & 08 points. We paid cash and will use the points for a trip next spring. That gives us a year to find that add on or we will borrow from 2010 and we still have anothe year to find more points. We prefer your point of view; no financing - cash purchase. We will probably look at adding on thru Disney next time because the closing costs are so high for SC. We just wanted to get into the system with less points because we don't need 160.

We bought thru GMAC and have had no problems whatsoever. Figure out what resort and what UY would work best for you. I would call and talk to all the resale companies listed on the disboards. Get on the email lists. Be ready to jump when the right one comes up. I would go with whoever has the contract that works for you. Don't wait for them to post the points to their website. As stated before, the good contracts get snatched up quickly. Especially the small ones. Good luck!

 

[syeaton01]

This sounds like what we have been thinking of. Or more accurately, what I have been thinking of and presenting to the DW to make it better for her. 100 points would be great, but I could live with 50 or 75 at first for a few years.

 

[PADISFAM]

I am a person that has "0" balances on my credit cards, the companies hate me .

we're the same way- how we purchased was we got one of those offers for 0% APR x 15months, we used that & set up a 'monthly $' to pay it off in the 15months. Good Luck!

 

[pokesfan22]

How close are they to selling out the resorts? Are they building any more resorts besides Hawaii?

 

[starwood]

How close are they to selling out the resorts? Are they building any more resorts besides Hawaii?

Rumor is the next one will be DVC at the Contemporary. I'm keeping my fingers crossed on that one.

 

[Chester's Mum]

We also zero out our credit cards every month. Our only debt is our mortgage, and line of credit (mostly due to DD's university costs). We started with a 60 point resale, then bought 40 more points. I'm hooked.

I think it's a great way to buy. In the event that I wasn't happy with my 60 points, it wasn't a huge investment, and those smaller contracts are easier to sell. If I had to take a loss it would be minimal.

I'm already planning how to buy at the contemporary when it is offered. I only hope they wait until I have enough money for at least 50 points.

 

[extremesoccermom]

We did that ourselves as we also pay off our cc every month and have no debt except the house. I just could not justify financing DVC
We found a 50point SSR contract and paid cash.
Next we added 25 points at AKV again paid cash.
Now we are considering adding on 50 points with the incentive at AKV.

 

[dis2cruise]

We did that ourselves as we also pay off our cc every month and have no debt except the house. I just could not justify financing DVC
We found a 50point SSR contract and paid cash.
Next we added 25 points at AKV again paid cash.
Now we are considering adding on 50 points with the incentive at AKV.

let me see if i understand this...say you have points at saratoga springs and akv and you just rec'd your points lets say in jan 08saratoga and march 08 akv you can apply both points to say at either of you home resorts (11 months out) or another that you don't have points for at 7 months out right??

so the key here is if you purchase smaller amounts try to get the start dates close enough so you can use them together ???

sorry very interested and very confused

 

[chalee94]

so the key here is if you purchase smaller amounts try to get the start dates close enough so you can use them together ???

i was understanding that the key was purchasing smaller amounts to be able to pay cash.

your question about owning separate home resorts and their booking windows was answered in a thread yesterday. i guess the answers were not clear, but if you purchase a contract at SSR, you should never expect to be able to use those pts to book another resort at 11 months. that would be unfair to the owners at the other resort. it's really not complicated at all - at least, there's no sneaky loophole that i'm aware of...

 

[Deb & Bill]

let me see if i understand this...say you have points at saratoga springs and akv and you just rec'd your points lets say in jan 08saratoga and march 08 akv you can apply both points to say at either of you home resorts (11 months out) or another that you don't have points for at 7 months out right??

so the key here is if you purchase smaller amounts try to get the start dates close enough so you can use them together ???

sorry very interested and very confused

You can only use points for a specific resort at 7-11 months out. You can use any points at 7 months or less. So SSR points can be used 7-11 months out to reserve at SSR, but nowhere else during that time frame. Once you hit 7 months, you can use them to book anywhere your heart desires as long as there is still vacancy.

When you have smaller contracts, you can bank and borrow to get three year's worth of points to make a reservation every three years. So that 50 point contract makes 150 points every three years.