Confused- just looking for a few answers...thanks!

[lindsroc]

My husband and I have been going back and forth for YEARS about whether to buy DVC or not. At this point Im sure it would have been worth it, however I get a really good room discount (50%) because I work in the travel industry. Anyways...my questions are....
1) If we buy points directly through the DVC- how long do you have the timeshare/membership? I know typically it is financed for 10 or 15 years, but how long do you own it? Is there a 30yr limit for example?
2) If we buy resale DVC, do we only buy what is left on their time? So if it is a 30yr contract, and this person has had it for 7 years...selling their points for $70 a point- does that mean we only get 23 years?
3) Can you finance through an outside company?

Im just really confused and not finding the answers that Im looking for. Any help would be GREATLY appreciated.

 

[Mousewerks]

My husband and I have been going back and forth for YEARS about whether to buy DVC or not. At this point Im sure it would have been worth it, however I get a really good room discount (50%) because I work in the travel industry. Anyways...my questions are....
1) If we buy points directly through the DVC- how long do you have the timeshare/membership? I know typically it is financed for 10 or 15 years, but how long do you own it? Is there a 30yr limit for example?

Each resort has an "end date". So the answer to your question depends on which resort you buy as your home resort. For instance, my SSR points will revert to Disney in 2054.

2) If we buy resale DVC, do we only buy what is left on their time? So if it is a 30yr contract, and this person has had it for 7 years...selling their points for $70 a point- does that mean we only get 23 years?

Even if you bought a "sold-out" resort through Disney, you're contract would be for the life of that resort. So in effect, yes, you only get "what's left" on a contract. Buying into a new resort will give you the full 50 (?) years but you'll also pay full price.

3) Can you finance through an outside company?

This is a loaded question on the Disboards. Many will tell you it doesn't make sense to finance a luxury purchase but my personal opinion is to each their own. Should you decide to go the resale route, your broker can point you in the direction of outside lenders. Also, with home equity rates at their current level, it may make sense to borrow through that mechanism. Again, your mileage may vary.

Im just really confused and not finding the answers that Im looking for. Any help would be GREATLY appreciated.

I'd suggest you spend some time reading through the various DVC boards here. There's a wealth of knowledge and you will probably find all sorts of stuff you haven't even thought of yet. In any case, welcome aboard.

 

[lindsroc]

Thank you very much!
So, depending on which home resort we choose...that would determine how long the contract would be for. Thats interesting, I thought it was a set amount of years no matter where you chose as your home resort. Thats good to know.
Thanks again, and I will definitely be doing some reading today.

 

[Deb & Bill]

Owning DVC, even if you purchase a resale, will probably not beat your travel company discount.

 

[disneynutz]

Thank you very much!
So, depending on which home resort we choose...that would determine how long the contract would be for. Thats interesting, I thought it was a set amount of years no matter where you chose as your home resort. Thats good to know.
Thanks again, and I will definitely be doing some reading today.

I think that most will agree that owning a contract for 30 - 50 years is unlikely and that you shouldn't expect to make any money when you sell.

IMO buying where you love to stay is more important especially when after a few years DVC owners tend to spend more time at the resort and less time in the parks.

Bill

 

[lindsroc]

I think that most will agree that owning a contract for 30 - 50 years is unlikely and that you shouldn't expect to make any money when you sell.

IMO buying where you love to stay is more important especially when after a few years DVC owners tend to spend more time at the resort and less time in the parks.

Bill

Bill...thank you for the info, we really dont expect to make any $ off it down the road. The longer we have it the better. Why is it unlikely to have it for 30-50 years? Meaning most people sell theirs off after a while? We have kids and eventually (dont even wanna think about it!) will have grandkids so this is more of a long term investment for us.

 

[lindsroc]

Is there a place to find the "end date" for each resort? I have looked but been unsuccessful. I would think that would play a big part in which resort people choose?

 

[disneynutz]

Bill...thank you for the info, we really dont expect to make any $ off it down the road. The longer we have it the better. Why is it unlikely to have it for 30-50 years? Meaning most people sell theirs off after a while? We have kids and eventually (dont even wanna think about it!) will have grandkids so this is more of a long term investment for us.

Peoples lives change and vacationing at WDW year after year can get old after awhile. Very little changes in the parks from year to year and the novelty wears off riding the same rides over and over and over. Just because you may want the same vacation year after year doesn't mean that the rest of the family will. School schedules, school activities and sports, job changes, divorce, illness, can all change things.

In addition, Disney isn't cheap, it's a luxury. Your costs for everything will increase each year, transportation, admission tickets, food, dues, and all of the Disney extras that you will buy.

Bill

 

[chalee94]

Is there a place to find the "end date" for each resort? I have looked but been unsuccessful. I would think that would play a big part in which resort people choose?

the "DVC Resource Center" thread has a lot of great information. post 6 has the end dates listed:

http://www.disboards.com/showthread.php?t=2823943

 

[disneynutz]

Is there a place to find the "end date" for each resort? I have looked but been unsuccessful. I would think that would play a big part in which resort people choose?

Lets say that you go for a resort with a longer end date or like some, go for a resort that is selling at a lower price. If you don't love the place, then why bother. Spending $60,000 plus over the years to stay at a resort that doesn't turn you on doesn't make sense to me.

We thought that we would love BLT. We already bought at BCV, BWV, VWL, and AKV. Then based on Disney hype and reviews by others, we bought BLT without staying there first. It is our least favorite WDW resort and it will be the first contracts that we sell.

I wouldn't buy a car without driving it first and I wouldn't buy a house if I didn't love the house, the neighborhood, and the town.

Bill

 

[lindsroc]

Lets say that you go for a resort with a longer end date or like some, go for a resort that is selling at a lower price. If you don't love the place, then why bother. Spending $60,000 plus over the years to stay at a resort that doesn't turn you on doesn't make sense to me.

We thought that we would love BLT. We already bought at BCV, BWV, VWL, and AKV. Then based on Disney hype and reviews by others, we bought BLT without staying there first. It is our least favorite WDW resort and it will be the first contracts that we sell.

I wouldn't buy a car without driving it first and I wouldn't buy a house if I didn't love the house, the neighborhood, and the town.

Bill

Makes perfect sense....hadnt really looked at it that way. Thanks.

 

[Dean]

My husband and I have been going back and forth for YEARS about whether to buy DVC or not. At this point Im sure it would have been worth it, however I get a really good room discount (50%) because I work in the travel industry. Anyways...my questions are....
1) If we buy points directly through the DVC- how long do you have the timeshare/membership? I know typically it is financed for 10 or 15 years, but how long do you own it? Is there a 30yr limit for example?
2) If we buy resale DVC, do we only buy what is left on their time? So if it is a 30yr contract, and this person has had it for 7 years...selling their points for $70 a point- does that mean we only get 23 years?
3) Can you finance through an outside company?

Im just really confused and not finding the answers that Im looking for. Any help would be GREATLY appreciated.

to add to this for #3, www.timesharelending.net is the only place I know that will finance a timeshare independently. They actually do it as a mortgage is my understanding so it would be deductible. Other options might give you a signature loan but would not be deductible. I'd suggest just buying less and not financing though. Good luck.

 

[Crazy4Disney06]

I'd suggest just buying less and not financing though. Good luck.

Ditto!

Why not pay cash for a smaller contract then add to it later on....this is what we are doing. Made an offer on a 50 point contract then once we know that DVC is right for us we will add to it later on. Our contract will be paid in cash upfront......much better than paying 12.9% for 10 years

 

[normr]

Disney's Old Key West Resort OKW Opened 10/1/1991 - Expires 1/31/2042 or 1/31/2057
1510 North Cove Road
Lake Buena Vista, FL 32830
Phone: (407) 827-7700
Fax: (407) 827-7710

Disney’s Vero Beach Resort VB Opened 10/1/1995 - Expires 1/31/2042
9250 Island Grove Terrace
Vero Beach, FL 32963
Phone: (772) 234-2000
Fax: (772) 234-2030

Disney’s Hilton Head Island Resort HH Opened 3/1/1996 - Expires 1/31/2042
22 Harbourside Lane
Hilton Head, SC 29928
Phone: (843) 341-4100
Fax: (843) 341-4130

Disney’s BoardWalk Villas BWV Opened 7/1/1996 - Expires 1/31/2042
2101 Epcot Resorts Boulevard
Lake Buena Vista, FL 32830-1000
Phone: (407) 939-5100
Fax: (407) 939-5150

The Villas at Disney’s Wilderness Lodge VWL Opened 11/15/2000 - Expires 1/31/2042
801 Timberline Drive
Lake Buena Vista, FL 32830
Phone: (407) 938-4300
Fax: (407) 824-3232

Disney's Beach Club Villas BCV Opened 7/1/2002 - Expires 1/31/2042
1800 Epcot Resorts Blvd.
Lake Buena Vista, FL 32830
Phone: (407) 934-8000
Fax: (407) 934-3850

Disney's Saratoga Springs Resort & Spa SSR Opened 5/17/2004 - Expires 1/31/2054
1960 Broadway
Lake Buena Vista, FL 32830
Phone: (407) 827-1100
Fax: (407) 827-1151

Disney's Animal Kingdom Villas AKV Opened 7/2/2007 - Expires 1/31/2057
2901 Osceola Pkwy
Lake Buena Vista, FL 32830
Phone: (407) 938-3000
Fax: (407) 938-4799

Bay Lake Tower at Disney's Contemporary Resort BLT Opened 8/4/2009 Expires 1/31/2060
4600 North World Drive
Lake Buena Vista, FL 32830
Phone: (407) 824-1000
Fax: (407) 824-3539

The Villas at Disney's Grand Californian Hotel & Spa GCV Opened 9/23/2009 Expires 1/31/2060
1600 South Disneyland Drive
Anaheim, CA 92802
Phone: (714) 635-2300
Fax: (714) 300-7300

Aulani, a Disney Resort & Spa in Ko Olina, Hawai`i ARS Opened August 29, 2011 Expires 1/31/2061
92-1185 Ali`inui Drive
Kapolei, HI 96707

 

[zavandor]

I think that if you consider how much it will cost to finance the purchace, you'll end up paying more than renting points.

 

[lindsroc]

Thank you all for the information. Are there any benefits to buying new vs. resale? Do you lose anything if you buy resale? Flexibility, perks etc?

 

[Dean]

Thank you all for the information. Are there any benefits to buying new vs. resale? Do you lose anything if you buy resale? Flexibility, perks etc?

Almost a year ago DVC decided to restrict resale points so yes, there are differences. Resale you can't use points for DCL, Disney Collection, Concierge Collection, and Adventures by Disney. You can still use them for DVC, RCI and BVTC (Disney's own timeshare exchange company) the same as all other owners. IMO, you really lose nothing of value buying resale and you can save a ton of money in many situations. Even BLT is available resale. The only option that won't be available resale for a while is the GF. Please note they could remove other perks from resale members is they chose or they could add perks to qualified members excluding resale buyers. To me it's a no brainer, buy resale and avoid the options that are a poor value anyway. IMO, they've actually done resale buyers a favor by keeping them from making an emotional decision and buying too many points.

 

[Deb & Bill]

Thank you all for the information. Are there any benefits to buying new vs. resale? Do you lose anything if you buy resale? Flexibility, perks etc?

Ultimately, you are only promised to be able to book your home resort. Anything else is gravy.

 

[Dean]

Ultimately, you are only promised to be able to book your home resort. Anything else is gravy.

True in the strictest sense, but as long as the club exists, there is no real risk of that situation for WDW or other park related DVC resorts. The risk is a little more for VB and HH and even for HI but still pretty low. The reason being is the club would either have to cease to exist leaving individual resorts or the resort in question would have to cease to be a member of the club to be restricted to home resort only.

 

[luckyman_apd]

Ultimately, you are only promised to be able to book your home resort. Anything else is gravy.

Exactly. If you buy direct their are more things you can do with your points, but as many will argue (myself included) is that they are not a good value for your points, meaning you'd be better off doing those things with cash and not having the DVC membership. If you are looking into DVC it is because you like to vacation at WDW, and typically go every year or every other year. That is where its value is.

As Deb & Bill stated, you are only GUARANTEED points at your home resort. Disney can take away everything else from everyone (direct or resale) at anytime. Last March when Disney implemented the resale policy, all resales bought prior to this were "grandfathered in." I don't think legally Disney can take something away from resale buyers who have already purchased their contracts if they don't take it away from everyone, but they can add perks for members who bought direct.