Cast Members and DVC

[Tink's Tormentor]

While on my recent trip, I took a DVC tour. Instantly I was floored. I wanted to buy in right then and there. However I didn't. After the tour, I met up with my CM friend who offered to co-sign with me so I could get her discount.... I would make payments and use the points, and she would help me with the discount. We didn't do anything yet because we had a question.... The question is, if a CM co-signs with a regular person, and gets the discount, would that same CM be able to buy into the DVC at a later date on their own?

 

[eva]

Yes, they should be able to. But remember that they will own your points along with you if you do what you mentioned. The CM will be on the deed and able to use the points just like you.

 

[Chuck S]

Also realize that there may be restriction placed on you renting your points or reselling the contract at a later date if the CM discount is applied.

 

[Tink's Tormentor]

Also realize that there may be restriction placed on you renting your points or reselling the contract at a later date if the CM discount is applied.

I do understand there may be some restrictions, which I no doubt would make sure to find out upon signing a contract... the biggest concern we had was if she would be able to buy into her own property if she is co-signed with me.... I would be making all the payments on everything and using the points... She would simply be trying to help me get the DVC at a cheaper price..... Which, I know a lot of CMs have done for their friends....

 

[lisaviolet]

Curious...

What is the discount?

 

[Chuck S]

Also be aware, that as the CM, they will be listed on the deed. This has legal implications, if she declares bankruptcy the DVC will be part of the bankruptcy, even if you made all the payments. Her credit history will affect your ability to finance the DVC purchase.

 

[goldilocks_63]

Unless you two are getting married, or making some other long term life partner arrangement,

my advice is not to do this.

It isn't worth mixing assets long term just to save 10 - 15%.

Think of all the arguments that you've seen over joint custody of children, who is hosting Thanksgiving, your roommate who won't put the top on the toothpaste.... and you'll see my point.

Best,
JMHO, Goldi

 

[dclfun]

I would not do this, and as to your original question, if your CM friend decides to purchase later, it would be considered an add-on to your contract. In financial matters where there's a deed involved and the next 50 years to consider, this is a bad idea for the savings involved. A CM is also not able to rent points to another person or sell their membership ( Disney will buy it back for what they paid, not the current market rate, etc.) which will affect you for the next 50 years...none of us know what our future holds.---Kathy

 

[MinnieGirl33]

Unless you two are getting married, or making some other long term life partner arrangement,

my advice is not to do this.

It isn't worth mixing assets long term just to save 10 - 15%.

Think of all the arguments that you've seen over joint custody of children, who is hosting Thanksgiving, your roommate who won't put the top on the toothpaste.... and you'll see my point.

Best,
JMHO, Goldi

As for the "can she get her own discounted contract?" She can still get another master contract (160 pts now but who knows in the future) at the CM rate as long as she is a CM at the time of purchase. Anything smaller than that would be considered an add on & be attached to you as well.

Best advice... don't do it. For both your sakes.