Can someone explain DVC to me?

[tinkerbell_xo]

My Aunt and Uncle as well as my cousin and his wife all own DVC. Aunt and Uncle at OKW & BLT, cousin and wife at BLT. So I know a LITTLE about it, but not a lot.
I also did one of the tours at SSR in 2007.

What I want to know is how much would it cost for my DBF and I to buy into DVC, let's say BLT? It's just him and I, so a studio is good, and the view doesn't matter so the cheapest studio is fine. We would like to go for 2 consecutive weeks a year.
I know Sun-Thurs and Fri-Sat use different amounts of points as well as different times of year.

What I wanna know is how many points would we need to buy to get what I came up with?
How much would we have to pay up front?
How many years would we have to pay off the rest?
What is the interest like?
How much would it cost us every year for maintenance fees or whatever they are?
What is the best way to go about buying DVC?

I don't want to call them and go through a big spiel or anything, I'd rather hear from you DVC owning dis'ers.

THANK YOU for anyone who dares to take a stab at this one...

 

[vicki_c]

What I wanna know is how many points would we need to buy to get what I came up with?
How much would we have to pay up front?
How many years would we have to pay off the rest?
What is the interest like?
How much would it cost us every year for maintenance fees or whatever they are?
What is the best way to go about buying DVC?

I don't want to call them and go through a big spiel or anything, I'd rather hear from you DVC owning dis'ers.

THANK YOU for anyone who dares to take a stab at this one...

A BLT studio for 2 weeks would range from 204 to 362 points, depending on which weeks you're talking about.

I don't know what the down payment requirement is.

Disney financing was around 10.75% last year (preferred) and about 15% (non-preferred) or I think less if you paid it off in a year. They offer 10 year loans last I knew.

I'm not sure what the current maintenance fees are at BLT - in the $4 per point range, I think. You pay those every year.

The current price per point is about $99 with a member referral and for the # of points I posted above.

So you're looking at somewhere between $20K and $36K to buy in and another $800-1500 for maintenance fees per year.

All this is strictly based on the example you gave above - there are many ways to do it and looking at the fact that you currently want a studio for 2 weeks a year may not be best for the long term. Remember you will be an owner until the year 2060 - that's a long time!

I'm sure others can provide some more specific on the maintenance fees, or more info, but I'm going to bed now!

 

[arthur06]

My Aunt and Uncle as well as my cousin and his wife all own DVC. Aunt and Uncle at OKW & BLT, cousin and wife at BLT. So I know a LITTLE about it, but not a lot.
I also did one of the tours at SSR in 2007.

What I want to know is how much would it cost for my DH and I to buy into DVC, let's say BLT? It's just him and I, so a studio is good, and the view doesn't matter so the cheapest studio is fine. We would like to go for 2 consecutive weeks a year.
I know Sun-Thurs and Fri-Sat use different amounts of points as well as different times of year.

What I wanna know is how many points would we need to buy to get what I came up with?
How much would we have to pay up front?
How many years would we have to pay off the rest?
What is the interest like?
How much would it cost us every year for maintenance fees or whatever they are?
What is the best way to go about buying DVC?

I don't want to call them and go through a big spiel or anything, I'd rather hear from you DVC owning dis'ers.

THANK YOU for anyone who dares to take a stab at this one...

Lets see if I can help some!

You cost is going to depend on what "home" resort you have. BLT, AKL, SSR, and VGC are all selling for $112 per point and have different levels of incentives depending on how many points you buy. From memory VGC has the best incentives and can be had for $86 or $88 per point. So depending on your home resort will change that.

you are right, Friday and Saturday nights are the most expensive nights at DVC, however with the 2010 reallocation of points they are now lower then they were in 2009. How many points you will need depends on the resort that you are staying at. You can stay from a few points per night 8-10 to many per night MK view at BLT is considerably more. So you will have to decided how many points you need. remember, 160 is the minimum you can buy through Disney (some have posted that at AKL and SSR they are allowing 100 point buy ins).

up front you have to put 10% down.

Disney loans are typically 10 years and 10.75% Preferred and 14.25% Standard. the loans are transparent and do not show on your credit report.

MF are so much per point, based on your home resort. I believe that AKL was $4.85 per point. So multiply how many points by that and there you have it!

You will get a ton of answers on here. Always remember, "buy where you want to stay" and know how DVC works and understand it!

 

[doctoralchick1]

What I want to know is how much would it cost for my DH and I to buy into DVC, let's say BLT? 160 points

It's just him and I, so a studio is good, and the view doesn't matter so the cheapest studio is fine. We would like to go for 2 consecutive weeks a year.
I know Sun-Thurs and Fri-Sat use different amounts of points as well as different times of year. You have to give EXACT dates as the number of points required for the cheapest studio changes, dependent on the time you stay. One of the weeks could require more points than the other. What is your EXACT 2 weeks in 2010?

What I wanna know is how many points would we need to buy to get what I came up with? Again, if you provide the exact dates, I can find out for you.
How much would we have to pay up front? 10% down payment, and $245 in closing cost fees if you don't finance it through DVC, $345 if you do DVC financing
How many years would we have to pay off the rest? DVC offers 1, 3, 5 and 10 year financing.
What is the interest like? I think it's 10.75%, not great IMO.
How much would it cost us every year for maintenance fees or whatever they are? $3.67 multiply by the number of points so about $588 for 160 points at BLT
What is the best way to go about buying DVC? I didn't use DVC financing. I took out a cash advance from my credit card because I have 0% APR until June 2010. But that's just me.

 

[kristenrice]

what i want to know is how much would it cost for my dh and i to buy into dvc, let's say blt? It's just him and i, so a studio is good, and the view doesn't matter so the cheapest studio is fine. We would like to go for 2 consecutive weeks a year.
I know sun-thurs and fri-sat use different amounts of points as well as different times of year.

What i wanna know is how many points would we need to buy to get what i came up with? 366 points gets you 2 weeks, standard view in premiere season at BLT
how much would we have to pay up front? with a referral from a current DVC member and the current incentives, you're looking at $99/point. For 366 points, that's just over $36k
how many years would we have to pay off the rest? I believe disney finances over 10 years. We paid cash via resale so I cannot speak from experience
what is the interest like?I *think* the preferred rate is 10.99% for 10 years. Again, someone may need to verify that.
how much would it cost us every year for maintenance fees or whatever they are? 2009 maintenance fees for BLT are $3.67/point. They will generally increase 2-4% every year. For 366 points, that comes to $1343.22 for 2009.
what is the best way to go about buying dvc? We bought resale because we wanted only 100 points at AKV. Since you want BLT, your best deal will come through disney directly. Any other resort, and resale would be the first place I would look.

thank you for anyone who dares to take a stab at this one...

HTH. Good Luck!

 

[doctoralchick1]

What I want to know is how much would it cost for my DH and I to buy into DVC, let's say BLT?
Oops, I realized you were asking something different from what I just posted. It's a little less than $18K right now but it can be cheaper if you have a DVC member referral.

 

[tinkerbell_xo]

Thank you for all the help!

Is BLT the most expensive place to buy?
Honestly, the home resort doesn't matter to me, all of the DVC resorts are great, in my opinion. And I would be happy to stay at any of them.
If any other places are cheaper I would gladly look into those, like a pp said I could buy resale for less?

We would probably go for the first two weeks of May.

My cousin and his wife bought at BLT and he said they paid $16, 000 and their yearly fees are like $500 or something.. How did they do that? Cuz everyone is quoting me more..

 

[Sandisw]

Thank you for all the help!

Is BLT the most expensive place to buy?
Honestly, the home resort doesn't matter to me, all of the DVC resorts are great, in my opinion. And I would be happy to stay at any of them.
If any other places are cheaper I would gladly look into those, like a pp said I could buy resale for less?

We would probably go for the first two weeks of May.

My cousin and his wife bought at BLT and he said they paid $16, 000 and their yearly fees are like $500 or something.. How did they do that? Cuz everyone is quoting me more..

Your cousins probably bought a minimum contract of 160 points. That would be around $16,000 given the incentives that have been around lately. The quotes you are receiving are for contracts big enough to accommodate the 2 weeks you mentioned.

Yes, BLT is the most expensive right now. If the resort is not that important to you, you can definitely save a lot of money going resale. SSR is the best WDW property in terms of cost right now.

You can get a SSR resale for about $70.00 per point, much cheaper than BLT. I would definitely check that option before you make a decision.

Good luck!

 

[BGparadise]

Thank you for all the help!

Is BLT the most expensive place to buy?
Honestly, the home resort doesn't matter to me, all of the DVC resorts are great, in my opinion. And I would be happy to stay at any of them.
If any other places are cheaper I would gladly look into those, like a pp said I could buy resale for less?

I personally looked as points per stay as the true cost. AKV has options for studio that are significantly lower costs in points than other resorts. So even though you may pay a little more to get them, you need fewer for your stay.

 

[bumbershoot]

FWIW, the guides I've met aren't hard-sell types at all.

However, I believe, because you seem to be in Canada, you won't be able to have anything sales-related sent to you (not even sure if you can get a phone call) b/c of Canada rules, and you'll have to buy while at WDW or DLR.


They've changed hte point costs a few times just since March. Well, not the costs, but the incentives. So I believe we paid more per point than the incentive is now, but we got incentive points which I'm not 100% sure they are giving right now. That's why the costs might be different. The dues, however, should be the same, but BLT isn't charging those quite yet (since they aren't open), so the total this year will be different than next year b/c there will be more months charged dues.

 

[3guysandagal]

FWIW, the guides I've met aren't hard-sell types at all.

However, I believe, because you seem to be in Canada, you won't be able to have anything sales-related sent to you (not even sure if you can get a phone call) b/c of Canada rules, and you'll have to buy while at WDW or DLR.

Certain Provinces have different rules.
Ontario (where the OP lives) is fair game for DVC.
I think Alberta and Saskatchewan do not allow it, there may be others.
We have BLT points from WDW and then an add-on through the mail.

Oh, and definately NOT a hard sell presentation.
They encourage you to go home and think about it.
I had issues with our first guide (not getting back to us while trying to buy ), but our new guide is great.

 

[ppony]

I just want to say as some one also gleaning this info for a possible future buy-in... DISers are so generous w/ their knowledge and time!

 

[eliza61]

I just want to say as some one also gleaning this info for a possible future buy-in... DISers are so generous w/ their knowledge and time!

Thanks ppony,

While the majority of us, love our purchase we want you to get as much info (the good, the bad and the ugly) to make the best decision. We know it's a lot of dough and some times at the sales tours our eyes can get a bit of pixie dust in them.

feel free to ask away.

 

[Mickey'sApprentice]

If you want the most bang for your buck, you need to look at 5 things:

Sale Price
Maintenance Fees
Number of points per night / per stay
Number of people usually staying in the room
End Date


Old Key West and Saratoga Springs both have very good sale prices.
Saratoga Springs and Bay Lake Tower have the best maintenance fees, I think.

Old Key West and Boardwalk Villas have the best point charts.

Bay Lake Tower and Animal Kingdom Villas have accommodations that sleep 5 in 1 bedrooms, and 9 in 2 bedrooms.

Bay Lake expires in 2060
Animal Kingdom Villas and Extended Old Key West expire in 2057
Saratoga Springs expires in 2054
All others expire in 2042

However, people say to buy where you want to stay.

We bought at Boardwalk Villas because we loved the Epcot area, and the lower point charts.

One other thought, the smaller resorts, and special views such as Savannah View, or Concierge Level, or Boardwalk View can be difficult to get at the 7 month window, while other areas/and whole resorts are very easy to get in less than 7 months, which devalues the home resort advantage.

Most resorts have similar square footage in each of the rooms. However, Old Key West rooms are HUGE!

Also, don't forget that you can bank and borrow points and use a maximum of 3 years points in 1 reservation. You can buy 1/2 as many points if you go every 2 years.

Some people also decide to either pay cash or move on weekends.

Our 100 points at BWV allows us to stay 10 weekdays in the off-season if we desire. I can't imagine the luxury of 360 points, or the payment or maintenance fees for that matter.

Finally, there are a lot of websites that discuss Disney Vacation Club, and several websites for resellers.

Good Luck!