Curious about buying DVC...

[lenshanem]

Hello! I'm hoping I can get some help. I have a few questions about DVC...
I'm thinking about talking hubby into going and touring the BCV Villas. (We're going next month to AKL and again next April by renting points at BWV.) We've stayed in a studio before at BCV by renting points, but I would like to hear more about DVC. I'm correct in that it is not high pressure? Is there a one bedroom to tour? How long does the tour take?

BCV is the only one we can buy from Disney? All the others would have to be bought through a resale?

If we buy 150 points and want to add more later, but BCV is then sold out would we have to buy the extra points through a resale, or no?
How long before BCV is sold out do you think?

From what I have gathered, resales don't usually offer financing?
How is Disney's financing? What is the typical down payment and monthly payments on a 150 point purchase? Can they split up the yearly dues into the monthly payments?
Anyone have what the dues are per point for each of the resorts?

What is this Magical Beginnings? Is this the $1500 credit deal? On a sale of 150 points at BCV would this just cancel out your first year's points? Does this seem like a good deal to do?

Is it true it is not a deal if you want to go on the cruise? It uses up too many points?

Thanks for reading my million questions and for answers you can pass my way.

 

[lenshanem]

Oh, and do we have to be down there to close? Most paper work done by mail? Is it possible to see if we can get preapproved first before we even think about venturing ahead?
Thanks!

 

[ncligs]

I will answer some of your questions on the dues, and others I am sure will answer the rest.
The dues for each resort in 2003
Old Key West - $3.49
Hilton Head - $3.69
Beach Club Villas - $3.97
Wilderness Lodge - $4.05
Boardwalk Villas - $4.10
Vero Beach - $4.37

They can be paid yearly(in Jan) on a credit card or cash-check, or monthly deductions from a checking acct.
You don't have to be down at WDW to close.Papers will be Fed Ex'ed to you and you sign and send them back.

P.S. Atlanta is a very nice city.......my son lived in Buckhead for 2 years before moving back to Pittsburgh(job).

 

[DVC4US]

Okay, I'll chime in with my 2 cnts worth and try to answer some of your questions also.

It is definitely not a high pressure sale. When we purchased in 1998 we really wanted to think about it and this is what we told our guide. He told us that was fine and to let him know what we decide and if we had any questions. We talked about it on the way home and the next day we called him to complete the sale. There should be a 1 bedroom for you to look at. They used to have a sales office with the rooms to look at on the Boardwalk. Last time we were there it was still open. If I remember correctly the tour took about 1 to 1 1/2 hours. (It's been a while though)

I think BCV is the only available DVC resort at Disney at the moment and they expect it to be sold out by this summer. Saratoga Springs is in the process of being built and should open next year. If you want to add on at a later date and BCV is sold out you could either buy through a resale or go on a waitlist through Disney. Disney has right of first refusal on all resales and I believe they then put these points back out to be sold.

The down payment can be a little as 10% I believe and you can finance as long as 10 years.

Most DVC people on these boards will say that using your points to take a cruise is not a wise choice. We used points on our first cruise and if that is the only way you can take a cruise then I think it is ok. A lot of people find it is better to rent their points and then use that money towards the cost of a cruise. I think it just depends on what you can do financially.

Lastly, I think I read on another post that someone had called down to speak to a guide and to get preapproval before they went to WDW so they would know exactly how many points they could buy.

I hope all this helps. And if you have any other questions please feel free to ask. We have owned DVC for 5 years and we love it. It was one of the greatest investments we ever made.

LeiLani

 

[ZerasPride]

We purchased in late 2001. I had been in contact with my guide off and on for close to a year before we bought. He never pressured us once.

We are using our points for the 4 night Wonder cruise in November and yes it was a lot of points but we can't afford to cruise with cash at this time so we decided to go for it. Would I do it again? Probably not because this 4 night trip has eaten up more than our year's worth of points. We were fortunate enough to be able to get one of the secret porthold rooms but are still using over 180 points (we only own 170).

Regarding financing, we have a 10 year loan and our monthly payment is 138 and some change just to give you an idea of what you could be paying.

We got pre-approved before our purchase so we knew how many points we could buy. I sometimes wish we would have gone with the larger amount but it seems you can never have too many points and I'd probably just want more anyway!

Hope this helps. This is a great place to gather information. Hope to welcome you home soon!

 

[jmminarik]

Originally posted by lenshanem
I'm correct in that it is not high pressure? Is there a one bedroom to tour? How long does the tour take?

Most people consider the sales pitch to be low pressure...very relaxed. They have samples to view at the Boardwalk DVC office. We took about 3 hours to do our tour,but we got a free lunch at Spoodles in the middle of the tour.

BCV is the only one we can buy from Disney? All the others would have to be bought through a resale?

No, Vero Beach is still available through Disney, but if you meant 'in WDW', then yes. All sold out resorts are only available through resale or a (probably long) waiting list through the DVC office.

If we buy 150 points and want to add more later, but BCV is then sold out would we have to buy the extra points through a resale, or no?
How long before BCV is sold out do you think?

Yes, you'd either go resale or on the waiting list...or buy more points at the upcoming Sarasota Springs resort. BCV will probably sell out within 6-9 months, if not sooner, assuming the current rate of purchasing continues. That's a guess.

From what I have gathered, resales don't usually offer financing?

Resales are from individual human beings...and most of us don't offer strangers financing.

How is Disney's financing? What is the typical down payment and monthly payments on a 150 point purchase? Can they split up the yearly dues into the monthly payments?
Anyone have what the dues are per point for each of the resorts?

If I recall, we took advantage of the Magical Beginnings, put $500 down and financed the rest of a 225 point purchase. With autodebiting on the loan from our checking acount, we were paying about 11% interest. We paid this off with a reasonable interest rate debt vehicle as soon as possible. Annual dues can be paid monthly through said checking account debit. The dues per resort has already been answered.

What is this Magical Beginnings? Is this the $1500 credit deal? On a sale of 150 points at BCV would this just cancel out your first year's points? Does this seem like a good deal to do?

Magical Beginnings is simply giving up your first year's points for money. I don't know what it is right now, but $5 or $10/point has been offered. Whether it is a good thing to do is a matter for debate. If its the only way you can afford to buy, then it is probably an ok thing.

Is it true it is not a deal if you want to go on the cruise? It uses up too many points?

We have never used our points for anything other than DVC, but from what I've read, the point cost for going outside of the DVC resorts has been rising recently and it is probably a better deal to rent your points and use the cash to pay for your 'other' trips. There are a whole host of reasons why this is, but if you plan on going outside of the DVC resorts a lot, DVC isn't right for you. Think of the other non-DVC options as a nice option to occasionally do something other than DVC resorts.

Unless we had a friend _ask_ us to rent them points, we'd not bother with the hassle of renting them out and then using the cash for a different trip....uhm, assuming we had the points to rent out anyway.

Thanks for reading my million questions and for answers you can pass my way.

You should also use the search engine on this board. All of your questions have been previously answered.

 

[momsully]

Wilderness Lodge is also available through Disney. When I spoke to my guide several weeks ago they had February and March use years left.

 

[lisareniff]

Originally posted by lenshanem
BCV is the only one we can buy from Disney? All the others would have to be bought through a resale?

What is this Magical Beginnings? Is this the $1500 credit deal? On a sale of 150 points at BCV would this just cancel out your first year's points? Does this seem like a good deal to do?

We just sent in our paper work on Monday (very easy through the mail). Our guide was offering us WL, VB and BCV about 3 weeks ago.

If you have received the first informational packet it has a flyer for a $1500 OR MORE credit. That (I believe) is referred to as the Magical Beginnings. With this offer we were offered to sell our first years points back to Disney for $10/pt at BCV. I have read on this forum that it was $15 at VB. The min. credit is $1500, since the min. purchase is 150 points. We did this since it was only 6 months to the beginning of our use year and we had no urgent plans to go to WDW. This brought the price to $74/pt and no closing cost plus it was very painless (except the check!)

Good luck,
Lisa

 

[jmminarik]

Originally posted by momsully
Wilderness Lodge is also available through Disney. When I spoke to my guide several weeks ago they had February and March use years left.

Hmmm. Reports were that these were sold out....unless they count 'almost' sold out as 'sold out'. Either that or Disney's exercised a lot of right of first refusals and the wait list for WL isn't too big.

-Joe

 

[lenshanem]

Thanks everyone for all the replies. It was very helpful. Prompted a few more questions though...

Can we tour with our little kids? Will they understand that we would have to keep it short because of the kids?

Is there a BCV sales office? Is there a one bedroom there to look at instead of at BWV?

I have only received a video in the mail. I should call for an informational packet? Would this have all the info in it or only a glorified description of it all like the video? Would a preapproval form be in the packet? Is a particular "guide?" assigned to us immediately?

How long does the whole process usually take?

Dues increase a lot each year? What makes BCV less than the others?

Is there a difference between buying from Disney or a resale? Get better perks if bought through Disney?

What is an estimate amount of points for a Disney cruise for two adults and two children going four nights?


And here's my big question -
If BCV sold out and we wanted more points...
How long could a waitlist be?
Is there a minimum amount of points you would have to buy for an add on through Disney?
If we wanted additional points through a resale, do people ever sell a partial amount of their points?
If we bought extra points at Saratoga -
Could we use them with our BCV points at the eleven month window to make a ressie there or would we have to wait and use the Saratoga points at the seventh month window at BCV?
Would there be a minimum amount of points we would have to buy at Saratoga if we just wanted more add on points?

WOW... This is complex stuff for my burned out mind! LOL
Thanks again.

 

[CarolA]

The resale companies do have financing arrangments. The rates are not great, but what I did was finance and paid it off with a bonus so it was not a major issue.

I think the unit at Boardwalk has been remodeled to show you what the BCV looks like.

They do have a play room for kids during the tour. I think that since this is Disney they pretty much know there will be kids involved!

If BCV sells out and you add points at another resort you would have an 11 month window at BCV and an 11 month window at your second resort. You cannot use Saratoga Springs points to book at BCV at 11 months even if you have points at both places. I have points at three places and it is kind of confusing!

 

[lenshanem]

So I would go to BWV to take the tour even if we were interested in BCV?

Anyone have any info about Saratoga? What it will look like, etc.?

Any links to some pictures?

Thanks!

 

[jmminarik]

Lots of questions in two posts and I'm tired, so I'll just take the ones I know in order without copying them.

Dues go up and down, though I think Florida law prevents an increase of more than 15% per year. I think the average is around 2-3% per year, but again they have gone down in the past. The dues reflect the cost of running and maintaining a resort in a particular year. Two big parts can be taxes and Maintenance. Taxes are part of the reason Vero Beach is more expensive for dues. Beach Club is new, so the maintenance aspect of it should be minimal for a few years until they need to start refurbishing units. Taxes should be fairly stable considering the property is in WDW.

Buying from Disney or buying resale gives the same membership with membership perks--Disney doesn't treat you differently once you're a member. Buying from Disney is pretty simple and quick with their financing set-up and they offer things like the Magical Beginnings...and currently are probably the only place to get a beach club 'ownership'. Oh, Disney pays closing costs as well. Buying resale you pay the closing costs (a relatively fixed price, so the larger the number of points in the contract, the 'cheaper' resale can be) and you have to come up with your own financing (not guaranteed to be available through the broker...and timeshare financing is generally pretty expensive from what I hear, though how much more than Disney I dont' know...there was also a thread that disney financing doesn't show up on a credit report unless you are late with a payment, but I'm not sure about that). But buying resale you can get 'sold out' resorts and can acquire memberships with banked points, which adds to the value.

The cheapest cruise you'll get for 2 adults, two toddlers <2 in the least expensive cabin during value season is 200 points...and goes up from there. If the kids are 3-12, the cost would be 248 pts. At this price point, you can see why people will rent points for cash (cash can be alot cheaper, especially in this economy).

Add-ons are minimum 25 points, 50 if you want disney financing.

You can not sell 'partial' contracts. If you have two contracts, you can sell one, but not part of one. Might be part of the reason the high points contracts seem to be listed longer.

As mentioned, you'd have to book BCV at 7 months using Saratoga Springs points (or any other points for that matter). What many people do if they have 'split' resort contracts is reserve their vacation where they can at 11 months, then see if their desired resort is open at 7 months. If so, they cancel their 11 month ressies in favor of the place open at 7 months...heck, they do this even if they only have one resort.

The tours and discussions are given at the BWV office. You can sign up for a tour before you go or when you get there, find a DVC kiosk and check in with them. The layout of the rooms (other than OKW) is pretty similar at all WDW DVC resorts, so even if they don't have the decoration of the beach club, you can get an idea of the sizes by going to the boardwalk. Besides, you can always ask to see BC if the BWV office isn't decorated like the BC.


Saratoga Springs is supposedly themed like the old resort/spa area in upstate New York. There's a little bit of a write up in the 'members only' section of the official DVC website, but ethically I can't give the the highly secret, super secure username and passwd to get in...until you join. Do a search on this board for the resort name and you should see some more useful information. Minimum add-on would be 25 points.

 

[Cruelladeville]

As long as you do not get behind in your payments Disney does not show up on your credit report. I have purchased 3 contracts, and non has ever shown up on my credit report.

If you go to Beach Club, you can walk right into the Villas to look around, no one will stop you. It's not like it's gated, or anything. You will be able to see all the public areas, and they do have a villa open for viewing during the day, with just one person there to say "Welcome Home". She can answer all your questions, but the sales people are over at Boardwalk, so this is just for looking around. I was staying there last week in Villa 103, and it's just across the hall, both members and non-members stopped in to look around. Sometimes they just close up and go somewhere else for a couple of hours, so be aware that they are very loose on this. They will be glad to arrange for you to talk to someone, if you wish. If you walk in the front door of the Beach Club, turn left and walk down the hall until you are by the gift shop--the solarium is right there. Go in, and you will see how to get to the villas front door.

If you go on the waitlist for extra points, you could wait six months or 6 years. It just depends--we waited almost a year for an OKW add-on. Since DVC is buying back lots of contracts right now, everyone is getting calls for adding on to their points. If they have 150 point contract, you can buy any amount up to the 150 points that they have available.

 

[lenshanem]

for all the great responses. That was very nice.

Do any of you have a particular "guide" you would recommend assuming I can request to talk specifically to one of them?
Number?
I'll think I'll go ahead and call for the informational packet and preapproval papers.

Now to talk hubby into it..................

 

[ncligs]

Originally posted by lenshanem
Do any of you have a particular "guide" you would recommend assuming I can request to talk specifically to one of them?
Number?

Ours is Marc Turner(800-340-6419).He is very good about returning calls,keeping you updated,etc.
If you decide to join please give him our name(sent you an e-mail and PM). Four members of our family our also DVC members and have him as there guide.
Thanks,


ncligs1@aol.com

 

[Cruelladeville]

Our guide is Ron Brumbaugh (800 827 7160) and he is a kind, laid back man who will not force anything on you that you don't want. Like Nick (above) we have 4 separate DVC families, and three of us have used Ron as our guide. I would not hesitate to recommend him to anyone.

 

[bbowers]

And my guide was Robin Daniels at 407-787-4141. I ended up buynig resale, but Robin was an absolute wealth of information and helped explain a lot of stuff that I thought I had from these boards, but she managed to completely clarify them. She is a peach!

 

[lenshanem]

Thanks for all the referrals! Hubby came home sick today and was kind of out of it. I thought...maybe I should bring this up while he is sitting on the sofa so peacefully. Well, he went for it! Said we should go ahead and call and get more info and get preapproved, what would it hurt he said! He said he has a very good client that owns in DVC and he wants to call them and get their opinion. I'm assuming we'll probably use their guide, unless they bought resale. Sooo, if he procrastinates for too long or they bought resale I'll just go ahead and call Marc Turner since Nick posted back first. (I did call Marc Turner before I spoke with hubby earlier but he is out of the office anyway until Tuesday.)
I'll be sure to give him your name if I end up calling him. Thanks so much everyone! Wish me luck.