complimentary disney vacation???

[bartty]

Just went on the dvc website and saw

"Complimentary Disney Vacation!
For a limited time, receive a complimentary Disney vacation when you purchase a real estate interest in Disney's Saratoga Springs Resort

anybody know what this is about?

 

[KristiKelly]

I just signed yesterday with Gib. He called to say that they were now selling Phase II & there were 2 options to buy.

Option 1 - $85 per point, use year not until 2005.

Option 2 - $95 per point & they will match your points & give them to you. I'll try to explain better with our situation:

We bought 180 points June use year (not to start until 2005), no dues until then.In additional we get 180 points that can be used from today (7/13/04) until 9/30/2005 anywhere EXCEPT Saratoga Springs. We do not have to follow the 7 monthes out rule with this first set of points. This is the way I understand it & I hope this explains it a little bit.

 

[tjkraz]

Sounds like Developer's Points to me. They had a similar promotion last fall for SSR where you could buy and either get a reduced per-point cost, or a "free vacation."

On a related note, this apparently means 4 SSR buildings sold-out in less than a year. Wow!

 

[KristiKelly]

Developer's points - yep, that's what Gib called it, couldn't think of it, but was on the tip of my tongue.

 

[RweTHEREyet]

We do not have to follow the 7 monthes out rule with this first set of points.

Sounds to me like that is going to make availability for the rest of us members very limited for making spur of the moment ressies. Tieing up other resorts with SSR points doesn't sound fair to me.

 

[tjkraz]

Originally posted by RweTHEREyet
Sounds to me like that is going to make availability for the rest of us members very limited for making spur of the moment ressies. Tieing up other resorts with SSR points doesn't sound fair to me.

I don't believe they are SSR points.

I don't know the textbook definition of "Developer's Points", but they are points at DVC properties that DVC has somehow acquired. So, if someone bought SSR and wanted to have their free stay at BWV, DVC would allocate the appropriate number of Developer's Points at BWV. Since they are BWV points, they would carry the 11-month booking priority.

I suspect that in giving away these points, DVC is forfeiting the ability to sell a corresponding room at a cash rate.

 

[ticketwm35]

so which option did you take? Also how much did you have to put down?I have heard that some people put down 10% while others put down 20%.Confused about the down payment.

Ticketwm35

 

[OneMoreTry]

Originally posted by tjkraz
I suspect that in giving away these points, DVC is forfeiting the ability to sell a corresponding room at a cash rate.

Remember, we OWN those condos. We have the deeds. It would be ILLEGAL for DVC to give away rooms which are owned by DVC members -- Disney doesn't have that option. Ie. they can't give away our weeks. I don't think they can rent those for cash unless there is an exchange with Disney resorts for an equal value -- ie. a member is staying at another Disney resort (a non-DVC resort like CR or Poly) on points, and thereby leaving a DVC room empty for a cash guest.

If they are giving away points to use at other resorts I think they would have to be

Points they bought through ROFR that haven't been resold yet
Points that members forfeited for one reason or another

 

[CRobin]

Originally posted by OneMoreTry
Remember, we OWN those condos. We have the deeds. It would be ILLEGAL for DVC to give away rooms which are owned by DVC members -- Disney doesn't have that option. Ie. they can't give away our weeks. I don't think they can rent those for cash unless there is an exchange with Disney resorts for an equal value -- ie. a member is staying at another Disney resort (a non-DVC resort like CR or Poly) on points, and thereby leaving a DVC room empty for a cash guest.

If they are giving away points to use at other resorts I think they would have to be

Points they bought through ROFR that haven't been resold yet
Points that members forfeited for one reason or another

True, and I think that tjkraz is saying the same thing.

As well as what you point out above, DVD does hold between 2 and 4% of the rooms at each resort reserved for maintenance or for cash ressies. I suspect that is where these promotional trips are coming from.

 

[dianeschlicht]

Originally posted by tjkraz
I don't believe they are SSR points.

I don't know the textbook definition of "Developer's Points", but they are points at DVC properties that DVC has somehow acquired. So, if someone bought SSR and wanted to have their free stay at BWV, DVC would allocate the appropriate number of Developer's Points at BWV. Since they are BWV points, they would carry the 11-month booking priority.

I suspect that in giving away these points, DVC is forfeiting the ability to sell a corresponding room at a cash rate.

Thanks for that description. That sounds logical to me. I too was worried that SSR folks would be taking inventory away from the other resorts, but that makes some sense.

 

[tjkraz]

Originally posted by ticketwm35
Also how much did you have to put down?I have heard that some people put down 10% while others put down 20%.Confused about the down payment.

You'll probably have to speak to a DVC Guide in order to get all of the current facts regarding the financing. Recent posts seem to indicate that you can put down as little as 10%, but it has to be 20% in order to get the lowest interest rate DVC offers over a 10-year finance period.

Also, the promotional discounts are often handled in different ways. When we purchased last fall, DVC was offering a flat $10 discount on the purchase amount. However, we still had to put at least 10% cash down on the BASE per-point cost. So, with a base cost of $89 per point, we had to put down 10% of $89 each, and then the additional $10 off was deducted from the remaining amount to be financed.

Other folks using the Magical Beginnings program ($10 off per point in exchange for forfeiting your first year's point) have reported that the $10 per point was bundled in with their downpayment.

Talk to DVC and they will lay the numbers out for you, taking into consideration all of the promotions available today.

 

[brivers222]

% Down:

10-19% Down = 10.75% APR

20% and up = 9.75% APR.

It is true, if you take the magical beginnings (first years point buy back) you get that amount ($10 x #of Pts) towards your down payment percentage.

 

[KristiKelly]

Ticketwm35

I had to put 10% down on credit card. We are not financing through DVC & will be sending a check for the balance. I believe, but not positive, that if you finance through DVC then you put down 50% (which seems like alot to me) and then finance 50%. I don't know about 20%, that could be if you were paying over a couple of monthes - for instance, we were given the option to have 1/2 applied to our Disney Visa this month - pay it off, then the other 1/2 applied next month then pay it off, we could have gotten more points on our card this way, but I just wanted to pay & be done with it. We were told that they could apply to a credit card over a period of 2-4 monthes (does that make sense).

 

[tanner]

Where did you find that on the website? I couldn't find anything referring to a complimentary vacation.

 

[gracelrm]

I received an email from DVC today advertising this. There were no details, just a teaser!

 

[wdwstar]

sounds like to me that if you buy into SSR you are getting 2005 points to use in 2005, plus dvc will match the points that you buy as your Complimentary Disney Vacation! to use in 2004.

like a different way of saying, buy now in 2004 and your membership starts in 2005, but they will give you 2004 points to use now as some kind of gift.

the deal they always had buy your membership and if you sell last year points back it was $15 or $10 off a point, if you kept last years points then it would have been the going rate per point.
and you would have two years of points to use.

since you really cant use your points until 2005, and your buying in 2004 what happen to 2004 points .......

 

[wtpclc]

Just a clarification on financing. The lowest interest rate is if you put 50% down. There are several rates though for down to 10%. Additional electronic withdrawl of payment reduces interest rate. There was more specifics on financing on another recent thread too.