Can we buy into DVC for $300 a month?

[disneynutz]

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

In a way Disney uses the DVC as a guaranteed source of vacationers. I am sure that they know to the penny how much we are good for each visit. That's why they discount our AP's. Take off $100, (it doesn't really cost Disney a dime), and make $1000.

Bill

 

[Minne's Friend]

When considering buying you real do need to figure in your other costs. For us it was air fare because the drive was just to long. So we counted that in before we bought into DVC. When we bought in we got a small number of points (100 at AKV) and we were going to finance them but decided to keep the number low so that we could pay cash. This has actually enabled us to take 2 (5 day) trips this years. We stay in studios which I think are just lovely, this stretches our points. We are looking to add 50 or so points at the BWV but because we want to be able to book 11 months out there. I really have enjoyed DVC since becoming a member but it took us 5 years to make the decision.

 

[MinniesYooHoo]

All of the "other" expenses of the trips are not an issue at all. We're looking into buying DVC to have a place to call "Home". However, I have another question. I'm sure it's been asked on here, sorry. If we buy say 100 points through resale, how quickly can we add on more points? How does this work? I think I recall reading somewhere that when adding extra points AFTER buying through Disney, they absorb the closing costs. How does this work for resale? The problem is we don't really want to finance anything, but like most folks, don't have an extra $20,000 laying around. We'd like to pay cash for small amounts of points at a time. (DH gets regular bonuses and travels extensively for work therefore gets ample "Per Diem") Anyone else go this route? Any advice?

 

[Marcy Mouse]

How did you buy only 100 points? I thought there was a 160 minimum from Disney?

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.

 

[KBazzel]

Actually the minimum to purchase is now 50 points (at most resorts I think. I only checked at a couple but I'm assuming they've lowered it for all).

 

[delmar411]

All of the "other" expenses of the trips are not an issue at all. We're looking into buying DVC to have a place to call "Home". However, I have another question. I'm sure it's been asked on here, sorry. If we buy say 100 points through resale, how quickly can we add on more points? How does this work? I think I recall reading somewhere that when adding extra points AFTER buying through Disney, they absorb the closing costs. How does this work for resale? The problem is we don't really want to finance anything, but like most folks, don't have an extra $20,000 laying around. We'd like to pay cash for small amounts of points at a time. (DH gets regular bonuses and travels extensively for work therefore gets ample "Per Diem") Anyone else go this route? Any advice?

you can add at any time and they are in your acct pretty much instantly after your guide processes the order (which should be right away). And as far as I've seen, yes they absorb the closing costs for add-ons. So if you wanted to add on 25pts a month, you could do that or even less time between add ons.

 

[MinniesYooHoo]

you can add at any time and they are in your acct pretty much instantly after your guide processes the order (which should be right away). And as far as I've seen, yes they absorb the closing costs for add-ons. So if you wanted to add on 25pts a month, you could do that or even less time between add ons.

Okay, so should we buy a low number of points from resale to "get our foot in the door" and then purchase from Disney after that so they will pay closing costs? Is that a bad thing to do?

 

[JWG]

I'd also look at outside loan options. 10.75+% interest rates aren't great in this environment. You can get home equity lines of credit for under 4% if you qualify. That will save you considerably.

Also, if you first buy resale you'll save on the per point cost which will also drive the cost down.

I'd do the tour, understand the costs, pursue the resale option to understand cost and think about securing a loan through a 3rd party bank.

 

[AirGoofy]

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

Or, you could save your money for 2 years, and with $7200, may be able to buy a 100 point resale contract through TimeShare Store. It's not the popular answer, but it saves you financing.

 

[FindTheMickeys]

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

Bill, I agree with you that the whole cost of the vacation is more than just the DVC costs. What I said, though was that I personally didn't factor those into my budget for a couple of reasons, the main one being that I had every intention of paying off my DVC loan early, making those monies available to the rest of my vacation budget. And I did pay it off in 2 years. My new set of points will be paid off within the year so there again, not a long time payment schedule. NOW, I understand that this doesn't work for everyone. Also, I am single and my kids are grown so the only person I have to pay for is me. My vacations usually cost me about $300, give or take, depending on how cheap I can get air fare...

 

[delmar411]

Okay, so should we buy a low number of points from resale to "get our foot in the door" and then purchase from Disney after that so they will pay closing costs? Is that a bad thing to do?

I don't see why not. It's not what most people do as most people don't have chunks of cash coming in throughout the year that's not earmarked for other expenses but I don't see anything wrong with your plan.

 

[Sandisw]

Okay, so should we buy a low number of points from resale to "get our foot in the door" and then purchase from Disney after that so they will pay closing costs? Is that a bad thing to do?

This is what we did. We bought 50 points resale at VWL. We really wanted BLT but contracts were not available yet on the resale market.

As soon as we closed on the resale (it took 4 weeks from our offer to closing), I called 5 days later and added on at BLT. In the end, once I added on the BLT points, I realized I didn't really want the VWL points so I sold two months later (at a slight loss).

Now that Disney is allowing buyers in with as little as 50 points (not available when I bought in 2009), I would not hesitate giving them a call if you are considering one of the newer resorts. Since you want to start small and pay cash, it might not be that big of a difference.

In addition, if you have a Disney Visa, you can put your purchase on it and get 6 months, 0% interest, up to at least $5000 but read somewhere it might even be $10,000 now. You get reward dollars and the extra time, something that may benefit you. When we bought last year, we actually got our entire cost to qualify which was great. I knew I would have the cash at the end of December (I teach an online graduate class for a college), but was able to purchase in June, which saved me money as the price went up in October.

Good luck!!!

 

[MinniesYooHoo]

Okay. I haven't heard of Disney lowering the minimum point number for direct buy in. I'm definately going to have to give them a call. I've taken the tour several years ago before BLT (which is where we want to buy) so I know there is alot of new info out there. How thorough is the information they send you at home? I don't want another DVD telling me what DVC is. I want solid numbers. How do I find out who to contact to talk with someone and maybe get some info in the mail?

 

[delmar411]

Okay. I haven't heard of Disney lowering the minimum point number for direct buy in. I'm definately going to have to give them a call. I've taken the tour several years ago before BLT (which is where we want to buy) so I know there is alot of new info out there. How thorough is the information they send you at home? I don't want another DVD telling me what DVC is. I want solid numbers. How do I find out who to contact to talk with someone and maybe get some info in the mail?

You can just call the 800# and get a guide or find out if you've been assigned a guide. Then speak with them about what specifically you are looking to do. They aren't pushy at all and that's the best way to get some hard numbers and answer any questions you have.

 

[MinniesYooHoo]

You can just call the 800# and get a guide or find out if you've been assigned a guide. Then speak with them about what specifically you are looking to do. They aren't pushy at all and that's the best way to get some hard numbers and answer any questions you have.

PERFECT!! Thank you so much! Until I started searching this particular DVC forum, I didn't even know there was such a thing as a guide, so I don't think I have anyone assigned. I'll call now. Thanks again everyone for all of your help. Hopefully I'll be able to post on the celebration board soon!!

 

[dudelydude]

I don't see why not. It's not what most people do as most people don't have chunks of cash coming in throughout the year that's not earmarked for other expenses but I don't see anything wrong with your plan.

I didn't quote you as a contradiction, but for a point of reference. From what I gather, buying 50 points direct from Disney is a much better offer than buying 50 points resale. You get your 50 points immediately (in lieu of waiting for ROFR, etc) as well as getting 50 points from 2009 and no closing costs. I'd quote where I got my information from, but I forget....but it was a reputable source.

 

[disneynutz]

I didn't quote you as a contradiction, but for a point of reference. From what I gather, buying 50 points direct from Disney is a much better offer than buying 50 points resale. You get your 50 points immediately (in lieu of waiting for ROFR, etc) as well as getting 50 points from 2009 and no closing costs. I'd quote where I got my information from, but I forget....but it was a reputable source.

I know that human emotions are a big issue when the word Disney is involved, but I just don't see why the rush to get your points when you buy? People have waited this long to become owners and they can't wait another month or so to get their points through resale? It seems that they will even pay a premium price through Disney to get their points ASAP.

Bill

 

[dudelydude]

I know that human emotions are a big issue when the word Disney is involved, but I just don't see why the rush to get your points when you buy? People have waited this long to become owners and they can't wait another month or so to get their points through resale? It seems that they will even pay a premium price through Disney to get their points ASAP.

Bill

Bill - I always read your posts and respect them, but in this case, you need to widen your focus. You missed the remainder of my post about the double points and no closing costs. Now, I forget the value of these 50 points from Disney vs. 50 points through resale and what the difference was, but much advice on here has led to doing the 50 point buy-in through Disney with the so-called incentives I mentioned. The expediency by which you get your points were not factored into the "value," however, one might like the idea of having an immediate 150 points to use (if borrowing from 2011).

Now, here is where I believe you are spot on. Before this new 50 point buy-in offer, I have ALWAYS been more interested in buying resale. As you said, I am in no hurry and can be patient through ROFR review. Resale is just too good of a value over what Disney is charging.

 

[KateB]

We bought into BLT getting 200 points for $230 a month. $300 is definitely enough to get a good contract. I know that we got a discount for knowing a current member. So keep in mind that knowing a current member will give you a discount.

 

[disneynutz]

Bill - I always read your posts and respect them, but in this case, you need to widen your focus. You missed the remainder of my post about the double points and no closing costs. Now, I forget the value of these 50 points from Disney vs. 50 points through resale and what the difference was, but much advice on here has led to doing the 50 point buy-in through Disney with the so-called incentives I mentioned. The expediency by which you get your points were not factored into the "value," however, one might like the idea of having an immediate 150 points to use (if borrowing from 2011).

Now, here is where I believe you are spot on. Before this new 50 point buy-in offer, I have ALWAYS been more interested in buying resale. As you said, I am in no hurry and can be patient through ROFR review. Resale is just too good of a value over what Disney is charging.

dudelydude, I wasn't speaking about you or your post, even though I quoted it, my mistake. I am thinking and talking about humans in general.

Bill