BUYING SS DVC in 24 HOURS - LAST MINUTE ADVICE

[Darthmerideth]

I have my personal finances in order. I have thought thru this since October and I plan to join DVC tomorrow. I am planning a trip to DW mid-March, my guide has placed a hold on a 1 BR for the week while I make my final decision. I plan to purchase 150 pts at $91/pt with a discount of $1500 ($10/pt once you hit 150 and for every point thereafter). I will probably put $500 down and finance the rest thru Disney with plans to have it paid off by April 2008. My guide says I am getting in at a good time because I am getting the 2006 points to use this year. I tried pushing him for discounts with no luck so I don't think there is anymore to squeeze out of him right now, however, I think I am getting a great deal.

Am I missing anything?

P.S. I threw out the Contemporary idea and he said it was a years away, but definitely said it as if it was coming.

 

[MIDisFan]

I'm not sure if anything has changed, but I was always told the minimum down payment was 10% of the pre-incentive price which in this case of 150 points would be $1515. Usually they give you the option of current use year points or the $10 off per point, so if you are getting both I would say that you are getting a good deal. We bought under the F&F promotion and our unit wasn't finished yet so we didn't have the option to receive the current use year points, but we only had to wait 2 months for our first set of points

 

[NYMomof4]

I got "double points" when I bought in 2005 and the discount too. I have an April use year and finalized everything in late October but got the April points with it.

It sounds like you are ready to purchase, so I would just add an early Welcome Home! Check out the SSR Spa when you go-it's heavenly.

 

[BroganMc]

Sounds like you're in good shape.

Only advice things I can think of is maybe break up that 150 points into 3 50 pt contracts. You should get all the same deal, same process and same membership number. It just makes it easier to resale a small 50 pt'er here and there as time goes on. Say if when CRV comes out you decide you want to put the majority of your points there but keep just enough back at SSR. You can sell off a 50 pt contract and use the proceeds to help finance your CRV purchase.

Oh and, I'm not one for financing. Either I'll use a low interest credit card and pay off in a couple months or do cash out. But it sounds as if you worked all those details out already. Just be sure you can afford the entire purchase. Last thing you want to do is end up in hock over a timeshare.

 

[castleri]

I'm not sure if anything has changed, but I was always told the minimum down payment was 10% of the pre-incentive price which in this case of 150 points would be $1515. Usually they give you the option of current use year points or the $10 off per point, so if you are getting both I would say that you are getting a good deal. We bought under the F&F promotion and our unit wasn't finished yet so we didn't have the option to receive the current use year points, but we only had to wait 2 months for our first set of points

I think the $1500 discount actually acts as part of the downpayment in this case. Sounds like a good deal to me. Having the extra points makes it even better if you value them at a $10 a point rental possibility it would bring the cost down to $81 a point from the original $101 unless I am figuring something wrong. From my standpoint using the extra points is an even better value when you look at what the unit would have cost to reserve through CRO.
To OP
Good luck with your purchase and may you have many wonderful DVC trips

 

[CarolA]

Sounds like you're in good shape.

Only advice things I can think of is maybe break up that 150 points into 3 50 pt contracts. You should get all the same deal, same process and same membership number. It just makes it easier to resale a small 50 pt'er here and there as time goes on. Say if when CRV comes out you decide you want to put the majority of your points there but keep just enough back at SSR. You can sell off a 50 pt contract and use the proceeds to help finance your CRV purchase.

Oh and, I'm not one for financing. Either I'll use a low interest credit card and pay off in a couple months or do cash out. But it sounds as if you worked all those details out already. Just be sure you can afford the entire purchase. Last thing you want to do is end up in hock over a timeshare.

I don't think you can break up your initial purchase from Disney. I think it has to be the 150 point deal in one contract.

I am a little concerned that OP says thier guide has "put a hold on a one bedroom". That doesn't make sense!

 

[dianeschlicht]

I don't think you can break up your initial purchase from Disney. I think it has to be the 150 point deal in one contract.

I am a little concerned that OP says thier guide has "put a hold on a one bedroom". That doesn't make sense!

I think he means the guide has put a hold on a 1 bedroom from developer points. Guides do that when they think a sale is iminent. Our guide did that way back when too.

 

[Pennyguy23]

I think they do that now Carol. When my guide was pushing me to buy SSR a few month back, she said "are you planning a trip soon, because I can put a hold on a room for you and you can use your points". So I think that they must be doing that now.

 

[mommyoftwinfants]

I just took the tour and it was my understanding that the $10p/pt was not part of the down payment, you still need to put $1515 down.

 

[CarolA]

I just took the tour and it was my understanding that the $10p/pt was not part of the down payment, you still need to put $1515 down.

On my AKV the downpayment was 10% and then they added the "incentive" money to the downpayment effectively reducing the debt.

 

[Jeanine3kids]

You are right because I just bought last week and I put 500 down but I must send in another check for 1015 by March 21