Could I be nosey please?

[PoohBears#1fan]

Hi,

We're thinking of buying into the DVC, currently awaiting our video to arrive through the post with anticipation and I just wondered if I could ask a couple of nosey questions of other UK owners.

1) How did you buy your DVC (eg. through Disney or a reseller?)
2) As UK owners, would you recommend a reseller or not?
3) Do you have much trouble getting flights when you want them? (and any tips?)
4) (and this is really nosey, please feel free to ignore it if it offends) Did you finance your DVC and could I ask for recommendations of where / how to finance? (eg are the US interest rates better than UK, does it pay to use the Disney finance?)

If there's anything else you wish you'd known / considered before buying in that's relevant to being a UK owner, I'd really love to know.

Thanks ever so much, this is such a great board.

 

[vernon]

No problem
1) I bought in 93 through Disney and didn't know if there was a resale market. If I was buying now I would compare the whole package as closing costs etc can make the difference on packages of diffferent sizes.
2) Certainly worth a look, but use a reputable realator
3) Same as a regular holiday, if you're going at a peak time you'll need to book a reasonable time in advance , so you're going to be stuck on what's available. At off peak times, you should be OK for both rooms and flights.
4) I used Disney finance, but only for the short term as I knew I had a bonus coming to cover the payment in 6 months time. Even though US interest rates are lower than ours , it is likely that you'll find it easier and cheaper to finance in the UK. The only proviso for this is that you are, in effect, taking a gamble on the exchange rate between $ and £. If you finance in the UK, then you know ( in £) what that asset ( DVC ) is costing you ( which in some ways is a good thing) on the other hand if you need to sell your DVC then you would be paid in $ while your loan would be in £ ( an if an unfavourable move had happened you could in theory not recoup ennough to pay off the loan) . Sterling is at a recent high so it's possible to make the argument it's a good time to buy an asset in the US ( with £) but the markets are extreemly nervous at the moment and it only needs a couple more "Enroneque" fiascos and the $ could weaken further.

 

[Bexx]

I bought my OKW points through the Timeshare Store, and I found them really easy to deal with, even at this distance! It helps if you have access to a fax number, though some of the transactions were done by email. Point prices seem good value, but bear in mind the closing costs of $400-$500 depending on the size of the contract. Also, if you transfer any money over via your bank you are charged both ends which eats up about £50 each time. Also depending on when you want to use your points, allow at least three months for everything to clear, otherwise you start panicking about not getting them in time to bank, like I did!! I think it all takes a bit longer than normal when they have to post stuff over here.

I'm afraid I know nothing about flights - but I'm very interested to get some tips about that too.

Becky

 

[PoohBears#1fan]

Thank you both, it's so helpful talking to others who've done it

 

[Hilary]

1) How did you buy your DVC (eg. through Disney or a reseller?)
We bought from Disney, mainly because we're both ultra cautious and didn't feel completely comfortable with the idea of such a large financial deal through an unknown 'foreign' legal framework. We were hopeful that a high profile company like Disney would be nothing short of 100% above board. I have to say that I would now be happy to deal with any of the brokers regularly mentioned on the US DVC boards, but that's only because I feel we now know a bit more about the way it all works.

2) As UK owners, would you recommend a reseller or not?
See above!

3) Do you have much trouble getting flights when you want them? (and any tips?)
Yes, but that's got nothing to do with DVC, it's just because we have to travel at or around peak school holiday times.

4) (and this is really nosey, please feel free to ignore it if it offends) Did you finance your DVC and could I ask for recommendations of where / how to finance? (eg are the US interest rates better than UK, does it pay to use the Disney finance?)
No, we didn't finance, but I haven't heard many of the US posters say anything good about the rates through Disney financing! As Vernon said, I think I'd be happier knowing the rate from the outset, rather that wondering what the next $ / £ exchange rate will bring.
We bought last summer and added on this spring - both at times when the exchange rate was about as low as it's been! If only we'd had a crystal ball we could have 'saved' an awful lot of money

 

[benny2bunny]

I am not much use but well, we purchased our first 300 points on a wimb when was driving to Miami I think and on the spur of the moment stayed at Vero Beach like it and brought the points, it was done in a matter of hours and we got lot's of freebies and used the cash back for that years points as we were already there we wasn't going to use them, seemed the best thing to do. We financed them via Disney it was just convienent. We used those points to do the 7 night Disney Cruise we had to borrow most of the following year, the cruise was fantastic so guess what we ended up biting the bullet and buying another 150 points, all I can say is we love the flexiblity, although we will proberly only use them for the cruises now, since we have jumped in and brought a villa, most people think we are mad, if we get afew years use out of our points, and decide to sell then we will have magical memories, we plan to do the eastern and western cruise back to back 2004, after that I will proberly sell afew of the points but they are wicked just for the cruise, if we didn't have them we would never have been able to afford to do it, by the time we have finished with our points they will have saved us a fair few pounds so which ever way you look at it DVC is a great foot on the ladder to perfect vacations.

 

[jgale]

I was wondering where you got your count down program. If it is available to anyone can you tell me where I can get it

 

[Penny12]

Better late than never to answer, right???

1) We bought from direct from Disney - whilst onsite, during a trip.

2) Well, I was considering buying from a reseller because I wanted BW, but then I saw, and was very impressed with VWL so ended up buying that - however, I have been umming and ahhhing about more points and now I am undecided on whether to buy an add on at BCV or be patient and buy a resale of BWV instead as the re-sale prices are really very good! However, like Vernon says - stick with a reputable re-seller and try to find one with good references.

3) Nope, so far I've not had any trouble with flights. I always book my DVC dates first if I can as these are the flexible part - infact, as long as you have the points available, I tend to book my initial trip with an extra day or two tagged on the front and on the end, then depending on what day flight I get, I just cancel the days I don't want...if you know what I mean.

4) Finance. Well, what we did was pay Disney with our Credit card. We paid off as much as we could intially, then took out a year loan for the remaining balance. Apart from anything else, it meant we could collect some Airmiles to help us get to our new purchase all the easier

My only tip is to try and buy at the resort you think you'll be staying at the most (having said that, so far I have stayed 10 days at OKW, 8 days at BWV and only 1 night at VWL, my home resort so it is not the end of the world if you don't, just a little bit more work (and sometimes luck) involved.

jgale - Welcome to the DIS!

To get a countdown, check out this thread on the Techy Board for instructions.

Are you a UK DVC'er? I see you are in Maryland so if you haven't already seen them, you may perhaps also be interested in the US DVC boards here

Penny