Can we buy into DVC for $300 a month?

[MinniesYooHoo]

Just wondering. I am having a debate with DH about DVC. Just curious what we could do with $300 a month.

 

[KBazzel]

Depending on how many points you're wanting - yes. We're looking at buying in with 60 points because we'll only be traveling to Disney every 2 or 3 years and are willing to stay in a studio sometimes. We plan to add on at some point down the line but for the next 4 or 5 years these points will be perfect for our needs.

 

[whamma]

Just wondering. I am having a debate with DH about DVC. Just curious what we could do with $300 a month.

If this helps--we have 2 contracts at BLT with points totaling 150 points. We financed through DVC. The combined payment for these 2 contracts is right around $210 per month.

Is that the kind of info you're looking for???

YES--you can afford it!!!

 

[disneynutz]

Remember, you also need to budget for dues, travel, food, tips, and Disney stuff.

bill

 

[MinniesYooHoo]

If this helps--we have 2 contracts at BLT with points totaling 150 points. We financed through DVC. The combined payment for these 2 contracts is right around $210 per month.

Is that the kind of info you're looking for???

YES--you can afford it!!!

This is exactly what I'm looking for!! Does this include the dues? Do you pay those at once or do you do it monthly? I know.......a lot of questions! I guess I just need to take the tour on our next trip huh?

 

[delmar411]

our original 220pt contract at OKW w/ the 14.25% interest rate and only 10% down was $297/mth (I believe we bought the points at $96/pp), not including dues. We pay $202/mth in dues on 530 pts.

You should be able to run any mortgage calculator to find out what your payment will be. Just input the amount you'll finance, what interest rate (14.25 or 10.75) and for how long your loan term will be.

HTH!

ETA~ you can pay you dues all at once when they are due in Jan or spread them out over the whole year (no fees or interest) for a monthly payment.

 

[mom3sonstt]

We currently pay $183.50 a month in dues (460 points - 200 OKW, 210 SS & 50 BW) Our OKW loans are paid off, and the 50 Boardwalk points were bought for cash. So the loan payments we have are for the 210 SS points (2 different contracts so one will pay off sooner than the other) but the combined payment is $236.91. We started with the 150 points at OKW, decided that wasn't enough and added another 50 within the first year. When those were both nearly paid off DVC offered us an extension on our OKW points - we turned it down, but that is when we decided to add 110 points at SS. The following year we added an additional 100 points and a few months later decided we wanted to try to get a few points at Beach Club or Boardwalk. They didn't have any Beach Club available in our use year so we got Boardwalk.

We did what we could afford at the time and added to it when we thought we were able. When we first purchased we took 2 trips every 3 years. As we have added on we have moved up to a family trip every year, and last year we added a couple short parents only trips into the mix. Do what you can afford - you can always add more later.

 

[FindTheMickeys]

Remember, you also need to budget for dues, travel, food, tips, and Disney stuff.

bill

Well, when I was planning my budget, my monthly payments only included loan payments and MF costs. Everything else is a long term cost because those costs will always be there and therefore didn't factor into my monthly cost. I did 150 points at SSR in 2005 for approximately $200/mo. I just did 100 more points at SSR for $147... Both of those monthly costs include loan payment and MF...

 

[whamma]

This is exactly what I'm looking for!! Does this include the dues? Do you pay those at once or do you do it monthly? I know.......a lot of questions! I guess I just need to take the tour on our next trip huh?

Dues are due annually on January 15th. It depends on where you buy as far as what dues cost. We also own 160 points at AKV. I am not postive but I think the AKV DVC property has one of the higher dues because of maintaining the savannas. The dues we owed this year on 160 pts at AKV were just under $800.

Yes, you should take the tour but I know it's difficult to take time from WDW to do it. We never wanted to but did on our trip in December. They do make it worth your while (i.e. usually have some type of fast pass or other gift to make up for lost time in the parks). If you have kids, they keep them busy while you are getting the sales pitch and you get ice cream at the end!

Our first purchase was at the Disney Doorway to Dreams sales location in the Chicago area--there is one in New York now too. If you live close to either one of those places, you should check them out--then you don't feel like you're giving up precious vacation time for the sales pitch.

 

[cbnsoul]

We just bought BLT resale through TTS at $100 point with 10% down and it is $209/month on a 5 year loan (not including dues). Longer loan options were available too to lower the payments.

 

[bumbershoot]

160 points at Bay Lake, paid the going rate in March '09. Preferred rate, 10 year loan, approx 227/month. Dues are approx 46/month for us (you can pay them all at once each January, or you can have auto-pay set up where they take out a twelfth each month of that year). So yep, under 300.

And the loveliest part is that you can pay more easily and without penalty. Starting next month we'll be putting as much as possible towards it to get rid of the loan asap! Woo! So for you, if you can afford 300 easily, and things come in under that, you can easily just put that extra towards it each month. And if you find extra ($10 or over if paying it online) you can send that too. Take that principal down quicker!

 

[ToddyLu]

Financed 210 AKV points for 10 years with Disney at 10.75%. We pay $237 per month mortgage note and another $80 month for dues.

 

[sam_001]

a 160pt contract through disney is under $300.00 a mouth that includes maintenance fees you would have to come up with about $2200.00 for a down payment

 

[ercrbc]

For $300/month you could rent 360 pts in a year. No maintenance fees, no down payment and no finance charges. Just something else to consider.

 

[Goobergal99]

We just bought in too!!! $343 a month for 5 years for 160 points at Bay Lake tower and the dues are somewhere around $650ish I would have to look at all my paperwork... It is absolutely worth it for us and we are very excited, the incentive for us to buy in there was a free 3 night cruise on the magic next summer (not totally free as the monthly payments were slightly higher then if we opted not to have it) But I am excited none the less!

I would def do the tour, the three free magic fastpasses made it totally worthwhile and it's not pushy at all, they give you the information some ice cream and send you on your way. We are def glad we did it and Bay Lake is awesome!

 

[PMDR59]

Just wondering. I am having a debate with DH about DVC. Just curious what we could do with $300 a month.

We bought in end of 08 out UY is December. We bought 230 pts. (I dont recall the $$ amt per point but I think it was 96 or 98 after the incentives)... Our payments are 298.00 on the loan and 82.58 for the maintence. You could make it under $300 a month with less points.

We financed with the intention of paying off ASAP. But several home emergencies last year ate up alot of the money intended for DVC. Hoepfully will be back on track by years end.

 

[disney ny]

We bought in through Disney, at VWL for 100 points a few months ago. We got the preferred rate and our monthly payment is around $120 plus like $50 a month for dues. I think we had put downlike $1200. So yes it possible to doit for well under $300 a month.

 

[disneynutz]

Well, when I was planning my budget, my monthly payments only included loan payments and MF costs. Everything else is a long term cost because those costs will always be there and therefore didn't factor into my monthly cost. I did 150 points at SSR in 2005 for approximately $200/mo. I just did 100 more points at SSR for $147... Both of those monthly costs include loan payment and MF...

That may work for you, but the true costs includes travel, food, admission, entertainment, and Disney stuff.

It doesn't do any good to buy a interest in the DVC if you can't afford the vacation. I don't know about everyone else, but our WDW vacations cost us at least $2000.00 in addition to the DVC costs.

Bill

 

[delmar411]

That may work for you, but the true costs includes travel, food, admission, entertainment, and Disney stuff.

It doesn't do any good to buy a interest in the DVC if you can't afford the vacation. I don't know about everyone else, but our WDW vacations cost us at least $2000.00 in addition to the DVC costs.

Bill

I think Bill has a very good point. Esp since many DVC'ers travel more once they buy in. So your vacation costs can go up pretty drastically. I know our vacations cost a lot w/o even factoring in DVC costs due to there being 6 of us.

 

[Tiger926]

That may work for you, but the true costs includes travel, food, admission, entertainment, and Disney stuff.

It doesn't do any good to buy a interest in the DVC if you can't afford the vacation. I don't know about everyone else, but our WDW vacations cost us at least $2000.00 in addition to the DVC costs.

Bill

Excellent point! I started a thread about this last month, and I couldn't believe that most DISers don't count these variables into their total vacation costs. The consensus was that I was being too analytical, and these factors weren't necessary. This really surprised hubby and myself, as all of those factors listed, will surely add major costs to DVC vacations.

Tiger