Considering buying VGF-a few questions from the pros please :)**UPDATE pg 2**

[khanna]

We have looked a DVC over the past few years. Just haven't been ready. We are a large family-6 kids-ages 5 yrs to 11 yrs but growing..... I just spoke with a DVC guide on the phone. We really want a monorail resort and are considering VGF. We have not stayed there but have stayed DVC BLT 2 bedroom. We usually go to WDW once a year and travel either April/May or Sept/Oct. IF we bought now it would put our UY at August.

1) Is a UY of August a problem given when we usually travel?

2) Also we discussed 200 pts--is that enough for a 2 bedroom standard view?

Thanks! Kim

 

[rlovew]

We have looked a DVC over the past few years. Just haven't been ready. We are a large family-6 kids-ages 5 yrs to 11 yrs but growing..... I just spoke with a DVC guide on the phone. We really want a monorail resort and are considering VGF. We have not stayed there but
travel either April/May or Sept/Oct. IF we bought now it would put our UY at August.

1) Is a UY of August a problem given when we usually travel?Should not be a problem- you would be able to bank any current points in a reservation if you cancelled at 31 days out (and you can't bank them anyway if you cancel less than 30 days out. The biggest thing is if you cancel a last minute trip in May do you want to go in June of July instead to use those points- you should be able to find something open however to use the points. The only one that might be better is Sept which gives you a little more leeway on cancelling a late May trip and still banking.

2) Also we discussed 200 pts--is that enough for a 2 bedroom standard view?
It depends on how long you are planning on going- a week in a standard view 2 bedroom ranges from 340 points in Sept and up to 632 if you happen to be going Easter week in May- so it depends a lot on when you want to go and how many nights you are staying- you could stay 4 nights in Sept or not have enough for the Friday and Saturday night of Easter weekend without purchasing 1 time use points for those 2 nights by themselves.
Thanks! Kim

Answers above in red.

 

[McCrae]

We have looked a DVC over the past few years. Just haven't been ready. We are a large family-6 kids-ages 5 yrs to 11 yrs but growing..... I just spoke with a DVC guide on the phone. We really want a monorail resort and are considering VGF. We have not stayed there but have stayed DVC BLT 2 bedroom. We usually go to WDW once a year and travel either April/May or Sept/Oct. IF we bought now it would put our UY at August.

1) Is a UY of August a problem given when we usually travel?

2) Also we discussed 200 pts--is that enough for a 2 bedroom standard view?

Thanks! Kim

How many nights are you planning on staying? If it's a week or more you will need more than 200 pts. Depending on you exact dates it could be as many as 340 for a week.

 

[CarolynFH]

And don't forget to investigate the resale listings when you decide how many points you need - you may be able to save a few dollars.

 

[disneynutz]

Buy a UY based on your need, not based on what they try to sell you.

I suggest that you stay at VGF prior to buying there or be prepared to sell if you end up liking a different resort better.

Would you buy a car sight unseen?

Bill

 

[khanna]

Thanks everyone. Looks like May would be about 346 points (6nights) and Sept 285 points--(6nights). I think the part that is really hard to swallow is the interest with financing. We would rather save up the money and pay cash--so no interest. We do have a Disney Visa and the guide mentioned 0% financing for up to 10K but this is looking like 33K for 200 points. What did you guys do for the full amount if you didn't have cash? Finance through Disney? Interest rates range from 9.9%-12% ouch.

 

[ToddyLu]

You are so smart to be asking these kind of questions. We purchased direct as well. At the time I had not done as much research ( 2009) and was aware of resale but not enough to really consider it Anywho, five years later we are extremely happy with our DVC. Our Dec UY isn't the best for us because of when we travel--May and Oct/Nov. However we are in our 40s and the chance of cancelling a reservation is slim (no children). But the Guide did nt really give me choices either, he "guided me" to a Dec UY when we should have had an Oct one....so realize that you can have any UY you want, you may just have to wait for them if purchasing directly.

You can see the point charts at the top of the DVC forum to calculate how many you will need. I strongly urge you to consider resale. You will get more points for your money. My husband and I believe you get what you pay for in most instances---however when it comes to DVC you get the same points when you purchase resale. The only difference is it is difficult or not possible to use the points for cruises and hotels outside of DVC resorts ( you can find the details elsewhere). It is not a good use of points to use them for cruises or hotel stays outside of DVC.

For instance a 3 night cruise for one person may be 130 points ( just an estimate but close) and to stay at a hotel outside of Disney might be 75 points (estimate but close). There is no way I am using my points like that. We only have 210 points and we usually stay in studios. So for future add ons it will only be resale. We do not plan to stay outside of Disney so purchasing resale is a great savings for us in the future.

Are we glad we purchased direct? Well yes, we got what we wanted when we wanted it....was it the most economical way to experience DVC, no.

 

[ToddyLu]

Yes it was a bit difficult to swallow....but at the time banks were not really giving out a lot of second mortgages. So when we checked around it was about 8%. When we purchased from Disney in 2009 our AKV points were $93 and that was after a discount available at that time, our interest was and is 10.75%. So our monthly payment for 10 years is about $237 a month--we are half way through. We have to pay about $100 a month in MFs. But it was doable for us and we have squeezed out every last point effectively to go once or twice a year and take family.

The most important aspect of DVC is that you understand what you are purchasing. A nice place to rest your head, take a shower, wash cloths and cook while on a Disney vacation. It is nice to receive a few perks but they do not last. DH and I were in values until our purchase...we wanted more luxury and knew that on trips later we would appreciate the resort more.

Your trips with your children will change over time...DVC does that.

 

[khanna]

Thank you ToddlyLu. You have a lot of wisdom! Being a big family, we have stayed offsite in a house at Windsor Hills. Of course, this is much much cheaper than onsite--like $2500 for the house for the 6 nights BUT your offsite. I really love the magic of being onsite. My DH can go either way. We are trying to decide if DVC is the right way to go. I loved having a washer and dryer when we stayed at BLT 2bedroom MK view. Wow. But we could only afford 3 nights paying cash--but we got "free" dining. I know, we paid rack rate for that room. Ugh. But it was nice, very nice. I know I have never stayed at GF but we have been on property there and love the decor and the monorail/closeness to MK. MK is where we spend our time. Will that change over time? Maybe. I am very scared to buy away from WDW or not direct. Resale makes me nervous....but maybe we need to look into it.

 

[Cindyel]

We bought 200 points direct in Nov at VGF. We used our Disney Visa. What your guide told you is partially true. You can charge $10,000 PER DAY on your Visa, but the total DVC charges you put on your visa are eligible for 6months at zero interest. We requested a raise in our credit limit. We charged $10k and paid it right away. We then charged $10,000 2 more times and left the $20,000 on there. We have to have it paid by June to avoid interest but received Disney Reward dollars on the whole $30,000.

 

[aroundtheriverbend]

We bought 200 points direct in Nov at VGF. We used our Disney Visa. What your guide told you is partially true. You can charge $10,000 PER DAY on your Visa, but the total DVC charges you put on your visa are eligible for 6months at zero interest. We requested a raise in our credit limit. We charged $10k and paid it right away. We then charged $10,000 2 more times and left the $20,000 on there. We have to have it paid by June to avoid interest but received Disney Reward dollars on the whole $30,000.

You can only put $10k a day on a disney visa with a larger limit than $10k?? I swear I've put tuition charges on there larger than that all at once. Are they just restricting DVC purchases to $10k/day?

 

[Cindyel]

Not sure . Might just be a restriction by DVC to put $10,000 a day and not Disney Visa.

 

[Minniesgal]

Thanks everyone. Looks like May would be about 346 points (6nights) and Sept 285 points--(6nights). I think the part that is really hard to swallow is the interest with financing. We would rather save up the money and pay cash--so no interest. We do have a Disney Visa and the guide mentioned 0% financing for up to 10K but this is looking like 33K for 200 points. What did you guys do for the full amount if you didn't have cash? Finance through Disney? Interest rates range from 9.9%-12% ouch.

We bought direct but financed although we knew we could pay it off in 6 months by putting every spare penny into the loan so that is what we did. I wouldn't have bought if we knew we would have to pay it over the term Increasing your deposit reduces the interest so maybe ask about a larger down payment or look for independent finance. Or wait and maybe buy resale. Our second and third contracts we bought resale and paid cash as it was a lot less. We build up our points gradually. Bought 200 added 115 then another 40 and then 55 until we got where we wanted to be with mostly cash. You don't have to jump in and buy all the points you need at once. Buy 100 bank and borrow stay a few nights cash a few nights and buy more points once you are paid off. A lot of people build up there DVC over time

 

[sweatandsteel]

Thanks everyone. Looks like May would be about 346 points (6nights) and Sept 285 points--(6nights). I think the part that is really hard to swallow is the interest with financing. We would rather save up the money and pay cash--so no interest. We do have a Disney Visa and the guide mentioned 0% financing for up to 10K but this is looking like 33K for 200 points. What did you guys do for the full amount if you didn't have cash? Finance through Disney? Interest rates range from 9.9%-12% ouch.

We just bought VGF direct from DVC in December and received an August use year as well. It works out great for us as we usually travel in October or early December. We also financed through DVC and received a 9.9% interest rate and paid 20% down, which we put on our Disney Visa to receive the points. We have never stayed at VGF but we toured a 1 Bdrm when we were there and loved it. We actually toured it again at the SSR preview center(we were staying at SSR on rented points) early on the day we checked out and became members. VGF is a "buy where you want to stay" resort and that is why we decided to purchase there. Good luck with your decision!

 

[Dean]

We have looked a DVC over the past few years. Just haven't been ready. We are a large family-6 kids-ages 5 yrs to 11 yrs but growing..... I just spoke with a DVC guide on the phone. We really want a monorail resort and are considering VGF. We have not stayed there but have stayed DVC BLT 2 bedroom. We usually go to WDW once a year and travel either April/May or Sept/Oct. IF we bought now it would put our UY at August.

1) Is a UY of August a problem given when we usually travel?

2) Also we discussed 200 pts--is that enough for a 2 bedroom standard view?

Thanks! Kim

April is likely the best UY if your time is split evenly during those months, otherwise it depends on your busiest time. August & February will work less well but be OK. Personally I'd recommend against financing a luxury purchase such as this. You need a large volume. My suggesting is to consider underbuying in terms of resort and possibly points as well. Maybe SSR or BLT at the max and maybe 200 points but a loaded contract. With a loaded contract and banking/borrowing, 200 points will get you buy for some time for 6 nights in a 2 BR and BLT has the extra bath in the 2 BR. Or maybe skip a trip and stay off site an additional time where one saves up. I'd definitely stay at VGF before I bought there in this situation if only for a couple of nights.

 

[Snurk71]

Not sure . Might just be a restriction by DVC to put $10,000 a day and not Disney Visa.

I don't know if it's related, but there's some kind of requirement to report financial transactions above $10k.

 

[khanna]

We are still thinking this through. I got a call from our guide today and we are trying to decide what to do. We currently have a cash reservation through WDW at WL 2Bedroom for April--cash price is $7K--ouch. We are considering maybe purchasing 150 points now. The guide checked and we can convert this WL 2bedroom into a DVC for this year. As part of the deal, they are giving last years points without any maintenance fees so we would have 300 points. We need 295 for this Aprils trip. So this would use our points for this year.
Then we are thinking our next trip will be Sept of 2016, so we will have 5 points left over from this year, next years 150 points and borrow from 2017 150 points and stay at our home resort in a 2bedroom villa at VGF --using 285 points this time.
So... our struggle is: if we put 10K on the Disney Visa, that leaves 14,750 to finance. We just don't like to finance things. But then paying cash of $7,000 for the room only in April seems outrageous too. What are your thoughts? UGH.

 

[disneynutz]

We are still thinking this through. I got a call from our guide today and we are trying to decide what to do. We currently have a cash reservation through WDW at WL 2Bedroom for April--cash price is $7K--ouch. We are considering maybe purchasing 150 points now. The guide checked and we can convert this WL 2bedroom into a DVC for this year. As part of the deal, they are giving last years points without any maintenance fees so we would have 300 points. We need 295 for this Aprils trip. So this would use our points for this year.
Then we are thinking our next trip will be Sept of 2016, so we will have 5 points left over from this year, next years 150 points and borrow from 2017 150 points and stay at our home resort in a 2bedroom villa at VGF --using 285 points this time.
So... our struggle is: if we put 10K on the Disney Visa, that leaves 14,750 to finance. We just don't like to finance things. But then paying cash of $7,000 for the room only in April seems outrageous too. What are your thoughts? UGH.

Dave Ramsey would tell you to skip a couple of vacations and pay cash for a resale.

Bill

 

[khanna]

Actually, Dave doesn't believe in any sort of timeshare AT ALL. He would advise against the entire thing.

 

[CarolMN]

I don't know if it's related, but there's some kind of requirement to report financial transactions above $10k.

You're probably thinking of the anti-money-laundering provisions of the 2001 Patriot Act. That applies to transactions involving cash/currency.

The $10K limit is more likely due to an individual's credit limit. Those vary according to the Credit Card's criteria.