Buying Resale...

[hmire]

So now that I have been reading a lot of post. Resale I think is the best way to go. I do plan to use RCI properties in the future. (I know not the best way to use some of my points). How does the whole process work? I went on Timeshare store and looked around. So basically you are buying there contract (what is left of it right..less years than if I bought directly from Disney). Can you still finance through a bank? Once its bought is there anything I am not getting b/c I bought resale and not direct (I know the cruise doesn't work).

 

[lions1995]

If you buy resale you can ONLY use your points for DVC resorts. Some one else posted that you can stil use them for RCI exchange, but I would definately look into that before you bought resale if you were looking to use RCI. Note that each DVC resort has an expiration date (when the timeshare ends). No matter when or who you bu your points from, the expiration date is the same. So buying into a resort directly will not get you any more years of use than buying resale. The newer resorts have the longest time left.

 

[luckyman_apd]

If you buy resale you can ONLY use your points for DVC resorts. Some one else posted that you can stil use them for RCI exchange, but I would definately look into that before you bought resale if you were looking to use RCI. Note that each DVC resort has an expiration date (when the timeshare ends). No matter when or who you bu your points from, the expiration date is the same. So buying into a resort directly will not get you any more years of use than buying resale. The newer resorts have the longest time left.

RCI exchange can still be done with resale, but the biggest bang for the buck with the points is through a DVC resort.

 

[chalee94]

So basically you are buying there contract (what is left of it right..less years than if I bought directly from Disney).

not generally. VWL and BWV expire in 2042 regardless of whether you buy from disney or a resale contract. you may get more or less pts by buying resale...some contracts are "loaded" and include banked pts while others are "stripped" and have no pts coming until 2013 or so...but the years left is the same (except for OKW which always expires in 2057 for direct purchases but OKW resales could expire in 2042 or 2057 depending on whether the owner chose to extend their contract.)

Can you still finance through a bank?

most timeshares are pretty worthless these days...you can get them on ebay for $1. DVC could be headed in that direction...who knows?

so a bank will not finance the timeshare based on the value of the timeshare. they will make you a personal unsecured loan - like a credit card loan - but the rates will be higher than for something like a house or car. if you finance through a bank with an unsecured loan, you cannot deduct the interest.

but really, financing a luxury purchase like DVC is rarely a good move.

Once its bought is there anything I am not getting b/c I bought resale and not direct (I know the cruise doesn't work).

right now, you are just losing disney trades like cruises, disney hotels and adventures by disney. you still have the option of RCI, but remember that you would be trading mostly for timeshares that cost $1 upfront with lower annual dues than DVC. (some would say you are buying a cadillac to trade for a chevy.) it's an option but if you are going to do it on a regular basis, then buy fewer DVC pts for DVC trips and pick up a $1 timeshare on ebay to trade in RCI or II...

RCI trades are also a little more complicated than using pts for DVC resorts so be sure to plan well in advance and do your homework about what you are trading into.

but the most important rule is that disney makes the rules. resales could lose benefits down the road if disney changes the rules...and so could direct purchases.

just remember that if your personal circumstances change and you need to sell, you will be selling at resale prices whether you bought resale or direct.

 

[Brian Noble]

Some one else posted that you can stil use them for RCI exchange, but I would definately look into that before you bought resale if you were looking to use RCI.

As of today, yes, any DVC contract may be used in RCI, regardless of its provenance. It is almost always a spectacularly poor value, but you can do it if you want to.