Did I get ripped off?

[princess&tig]

I recently bought 100 points as an add on at SSR. They had 2 deals (you could only take 1):

5$ off because we bought 100 points = $500

10$ off if we bought 100 points and gave Disney our first years points. = $1000 (This deal is called magical beginings)

But I could have taken the first deal and easily sold my 100 points for more than $500. I only got $5 per point from Disney.

Did anyone else take this magical begining deal? Did I get taken?

 

[SSRex]

If you needed the points for a trip this year or wanted to bank them for a larger trip next year, you did the right thing. If I did not have a trip planned for the points, then I would have taken the Magical Beginnings deal for $10 off and giving up the 1st year.

 

[tjkraz]

I'm assuming you took the Magical Beginnings.

I wouldn't say that you got "taken". MB has been around for ages and many people use it as a way to get a bit of a discount off of the purchase price of DVC.

Technically, yes, you could have taken the flat $5 discount and then independently sold your points for $10 (or more) each. But there is some hassle and risk involved with this process such that many people with extra points aren't the least bit interested in renting out their points.

Did you get taken? Well, I guess that depends on how you define "taken". If you buy a car and the next week find out that a different dealer has it for $500 less, do you think you got "taken"?

Although point rentals are permitted under the structure of the program, DVC really doesn't acknowledge, encourage or assist with them. So if you think that DVC erred in not advising you to take the $5 and rent your own points, then I would disagree.

Practically speaking, the option has existed for years. You just found out about it. Lesson learned.

 

[Pa@okw95]

Disney does not consider what can or can not do with your points regarding renting them.. It looks to me like either way is fine. I f you don't want the points you save $1000 if you do, you save $500 looks like either way you can not go wrong to me.

 

[BigDisneyKids]

We orginally bought 200 pts. in Feb at SSR with the $5 discount.

Then I saw the price increase here on the boards. So we cancelled the 200 pt. contract and went with a 250'er.

We weren't planning on a trip until Jan 05, so we opted for the MB and surrendered our 04 pts.

We still have a Jan 05 trip (1/22 thru 1/31) but using the 05 pts., and still have 113 pts for the rest of 05.

I looked at it this way, the MB promo we took help to offset the 50 pt. add on we made before we even closed. (Yes, I can truly attest, you will be thinking add on all the time from here on out.)

Getting taken is all how you interupt it.

 

[CarolMN]

No, IMHO, you did not get taken.

There is no guarantee that you would have been able to rent points. (They aren't even usable for a stay until after your building opens for occupancy). Thus, a DVC guide will not suggest to you that this is a possibility. (Probably can't, legally).

If you look over the documents you just signed, you will see that renting points is allowed, but that Disney makes no representation that you will be able to do so. In fact, if you do so, the documents remind you that you would be competing with Disney itself. This language was also in the documents you signed to purchase your first contract.

Note also, that you would have had to pay maintenance on the points if you had not sold them back to Disney. That $500 would not be all "profit". Add in your time and effortand the hassle factor, and then, depending on how you value your time and ability to live with risk, maybe it wouldn't have been worth it to you. Just something to think about.

All that said, most who have tried to rent points have been successful. Even so, it is in no way DVC's job/obligation to mention the renting possibility to you.

Sorry you feel you were "taken". Hope you can let it go and move on to planning your next trip!

Best wishes -

 

[BigDisneyKids]

CarolMN, You stated "Note also, that you would have had to pay maintenance on the points if you had not sold them back to Disney."

We are currently scheduled to settle June 1st, since we too did the MB too for all of our points, are we still obligated to pay the maintenance fees and/or taxes for 04?

Or will we just be making our principle & interest payments for the remainder of the year?

 

[BillPA]

With either option, you pay the annual dues for '04. Not the full year, it is pro-rated on the first year.

 

[WDWDad]

We don't live in a perfect world. Sometimes we are asked to make decisions without as much information as we would like. In this case, with hindsight, you may have made a decision which could have been different. But had you made that decision, and rented your points, and had a bad experience with your renter you may have wished you had just taken the deal from Disney.

To say you may have gotten ripped off implies that Disnay was deliberatly trying to mislead you. I don't think that this was the case. Be happy, you have 38 more years of DVC to enjoy.

 

[BigDisneyKids]

BillPA, thanks for the response. That's what I thought we'd have to pay.

Steve.