Can DVC buy back pts directly from me?

[Alisha&Jay]

If I want to sell some of my points from my 1 contract, would Disney buy back these points from me directly, or do I have to try to sell thru resale? Just wondering, I want to add on at BLT and would consider buying the same amount of points I sold back to DVC, in my new BLT contract plus an additional amount. Any help with this would be great.

 

[JaxFLBear]

You can not break a contract up and sell only part of it. It's all or nothing.

 

[Lynne M]

And, if Disney were to buy your contract back, it'd be for a very low price - much less than you would get on the resale market.

 

[Alisha&Jay]

Oh, okay. Thanks for your input on this. You know, the only reason I even thought of this in the first place is because I called a Guide yesterday (not mine, because she is in WDW right now) and in our discussion about BLT, he told me that if we added on we automatically will get the Disney preferred financing rate (our current contract is financed thru Disney, but at the standard financing rate) because we have excellent payment record, never late, etc. I thought this was fantastic, and I even questioned him about this, asking if we would still get the preferred financing even though the original contract was at the standard rate. He said yes and verified with another guide. It got me to thinking about all of this. I wonder if Disney would change my rate on my current contract to a preferred rate because we have an excellent payment record? Does anyone know this?

 

[WilsonFlyer]

I'm sure disney has become more flexible on the "preferred rate" too because of the lowering of interest rates. Their "standard rate" has been out of line for a number of months now, IMHO. So much so that had we not gotten the preferred rate in April, we likely wouldn't have been members today since I refuse to pay credit card interest rates for what is essentially, a secured mortgage.

It never hurts to call and negotiate. If they would change it, I'm sure the paper work would have to be redone (just the loan paperwork, obviously) but it's only one sheet from what I remember. I would think there would be some sort of fee since loan documents have to be filed with the clerk of courts in Orange county. I'm only speculating though.

I'd call and ask. What's it gonna hurt?

 

[luvindisneyworld]

Oh, okay. Thanks for your input on this. You know, the only reason I even thought of this in the first place is because I called a Guide yesterday (not mine, because she is in WDW right now) and in our discussion about BLT, he told me that if we added on we automatically will get the Disney preferred financing rate (our current contract is financed thru Disney, but at the standard financing rate) because we have excellent payment record, never late, etc. I thought this was fantastic, and I even questioned him about this, asking if we would still get the preferred financing even though the original contract was at the standard rate. He said yes and verified with another guide. It got me to thinking about all of this. I wonder if Disney would change my rate on my current contract to a preferred rate because we have an excellent payment record? Does anyone know this?

I dont think they will do that unless things have changed from a few years ago. We had the same thing happen to us about the higher interest rate on the first and they would not change it for us. So unless Disney is doing things diffrent now it does not matter about your excellent pay history to them.

 

[jlewisinsyr]

I'm sure disney has become more flexible on the "preferred rate" too because of the lowering of interest rates. Their "standard rate" has been out of line for a number of months now, IMHO.

In September, I was advised that they actually have become more strict with their financing requirements, increasing the FICO score required for preferred financing a quite a bit (about a 10% increase in the minimum score).

They actually were very cautious about even mentioning the preferred rate and advised they quoted everything currently at the standard rate until the credit check was run.

 

[Alisha&Jay]

Well, I called DVC today and spoke with the loan department. I was told they would not lower the interest rate to the preferred rate. They also can't buy back part of my points. So, I guess I'm out of luck. I will probably add on at BLT early next year, which brings me to another question. Maybe some of you knowledgeable folks can answer? What if I buy an add on at BLT for 150 points next year (and get the preferred financing rate, as I was already told I would receive), then I sell my current contract (with the standard financing rate) at AKV thru resale (this assumes I can sell it at a price I am comfortable with), and finally buy another add on at BLT (after my sale of the AKV) to replace the number of points I lost with selling AKV (and, also getting the preferred financing rate because it is an add on). This is just a thought I had, who knows what will end up happening, but does anyone want to comment on this?

 

[ILIKEWDW]

Good tought, but people on resale are looking for better deals, lower prices p/points, and smaller contracts, as they don´t want to pay what DVC is asking for.....

 

[Alisha&Jay]

Good points, but if I sell at $85 per point (for instance), I would end up owing $1350 that I would have to come up with out of pocket to pay off my standard rate loan (this is after the broker commission). So the big question is "Does spending the $1350 out of pocket make sense in order to get a preferred loan rate which is 5% less than the standard rate, over a 10 yr period?" I don't know the answer to that question, my DH will have to run the numbers.

 

[ILIKEWDW]

Just be patient as a big contract as yours will take time to resale. I suggest you not to buy BLT until you have sold AKV.