Direct DVC Purchase - do you need to sign within x days?

[jjanne]

Hello everyone! I'm thinking of a direct DVC purchase - I'd like to take advantage of summer incentives (incl Disney Visa $1000 which expires Aug 12) but would also like to see where new incentives land in September.

If I make the purchase now with summer incentives, what's the maximum time DVC allows before you have to sign the contract?

 

[Jimmy Geppetto]

Hello everyone! I'm thinking of a direct DVC purchase - I'd like to take advantage of summer incentives (incl Disney Visa $1000 which expires Aug 12) but would also like to see where new incentives land in September.

If I make the purchase now with summer incentives, what's the maximum time DVC allows before you have to sign the contract?

I guess it depends on why you want to do this. You can always request an extended closing (90+ days) and if incentives improve they will rewrite the contract with the new price. But it’s at DVCs full discretion. But I have also gone about 70 days without actually signing the documents. IIRC it was actually 72 days. At that point the QA team calls you to get you to sign them ASAP. They never canceled it on me but I was also making regular payments throughout that time via credit card.

 

[Cfabar1]

usually the limit DVC places is the date the contract has to close by.

You can request to have the payments spread out over 90 days, typically with a small deposit initially, then three payments on day 30, 60, and 90. Typically if the contract is not closed, Disney, as a courtesy, will allow the contract to be rewritten.

However, you have a recision right 10 days from when your contract is signed - so if you want to be guaranteed the ability to move to the new incentives, you'd want to do it say 8 or at the latest 9 days from when the current incentives end.

 

[Sandisw]

They seem to now be allowing people to jump into new incentives if they delay the closing up to 90 days out.

It used to be it had to happen within the 10 day period you can cancel, even if you did push closing out.

So, if you want to try this, talk with. Guide but get it in writing you’ll be able to rewrite if better once you pass the 10 day mark!

 

[CarolMN]

Was there ever a time when the incentives got better? I don't recall any, but I don't follow this very closely.

 

[Cfabar1]

Was there ever a time when the incentives got better? I don't recall any, but I don't follow this very closely.

last summer would have been a time, for example, when the DVC VGF Fire Sale began.

 

[Unclelude]

I think my guide told me 30 days to docusign (last summer VGF) ... I tested the waters a bit, I think I got a reminder every week or so to sign. I waited 3 weeks to sign. @Jimmy Geppetto - 72 days lol, I love it!

I think big takeaway is as @Cfabar1 mentioned... 10 day rescind doesn't start till you sign. So, you can for sure get the new incentives as long as you haven't passed your 10 day rescind ( i.e. just cancel and rebuy)

 

[supercarrie]

Was there ever a time when the incentives got better? I don't recall any, but I don't follow this very closely.

This spring is an example. The Riviera incentives got significantly better in early April (along with the launch of the OKW fire sale) and the current Riviera incentives were essentially extended through Sept. 30th PLUS the Disney Visa discount launched. We signed in late June and rewrote our contract at the 12 day mark to use the Disney Visa discount on top.

I don't expect them to get better this next round given they have had two rounds of fairly decent incentives, along with the expected launch of Poly, but you never know.

 

[TinkAgainU]

...

So, if you want to try this, talk with. Guide but get it in writing you’ll be able to rewrite if better once you pass the 10 day mark!

I always worry we refer to the 10 days here like it's cast in stone which could be a problem for new Buyers -- for Californians, for example, Disney legally adds an addendum changing the 10 day cancellation to 7 days which applies even to the purchase of Florida resorts! There are a LOT of pages to read (actually well over a hundred at last count), so it's easy for someone to assume the terms are customary - there are NO standard contracts in Timeshare purchases!

 

[Sandisw]

I always worry we refer to the 10 days here like it's cast in stone which could be a problem for new Buyers -- for Californians, for example, Disney legally adds an addendum changing the 10 day cancellation to 7 days which applies even to the purchase of Florida resorts! There are a LOT of pages to read (actually well over a hundred at last count), so it's easy for someone to assume the terms are customary - there are NO standard contracts in Timeshare purchases!

The 10 day rule is FL timeshare law and I am pretty sure DVD cannnot override it, even if CA allows for 7.

But, I do agree that people need to read the contracts carefully.

 

[TinkAgainU]

The 10 day rule is FL timeshare law and I am pretty sure DVD cannnot override it, even if CA allows for 7.

But, I do agree that people need to read the contracts carefully.

I reside in California and purchased Boardwalk Direct a few months ago - it was an Amendment which Disney added I was Required to sign.

Disney's attorneys write Every form they give us to sign. These are not "negotiated" contracts, likely not a paragraph in there is to the Buyer's benefit, or misses a single available loophole. 7 days vs 10 is the perfect example.

 

[Sandisw]

I reside in California and purchased Boardwalk Direct a few months ago - it was an Amendment which Disney added I was Required to sign.

Disney's attorneys write Every form they give us to sign. These are not "negotiated" contracts, likely not a paragraph in there is to the Buyer's benefit, or misses a single available loophole. 7 days vs 10 is the perfect example.

The adendum then might be allowed because you are a CA resident. As a resident of NY, I am entitled to the 10 day period to withdraw and am covered under the FL timeshare law....and that can't be changed...yes, I looked in to this.

 

[jacec]

How does the Disney Visa incentive work? I just signed up for this but won't have card in hand until 8/12 (day it expires).

 

[ShaneDJ]

I reside in California and purchased Boardwalk Direct a few months ago

Why did you purchase BWV direct?

 

[TinkAgainU]

Why did you purchase BWV direct?

1) Wanted a very small contract in a specific use year and got tired of watching for a resale. 2) Wanted to have the direct points to use at VDH (we are in Calif) if not feeling up for a Florida trip. On hindsight, would probably not buy another Direct with a 2042 expiration - it's a lot of extra money for a shorter contract. I would only buy BWV resale in the future.

 

[ShaneDJ]

1) Wanted a very small contract in a specific use year and got tired of watching for a resale. 2) Wanted to have the direct points to use at VDH (we are in Calif). On hindsight, would probably not buy another Direct with a 2042 expiration - a lot of money for a shorter contract.

Makes sense. Thanks.

 

[rentfn]

How does the Disney Visa incentive work? I just signed up for this but won't have card in hand until 8/12 (day it expires).

You can just call your guide and read them the number once you get the card. You don't even need to use the card.

 

[jacec]

Any benefits to using the Diney Visa to pay for the contract over collecting Amex Membership Reward points at 1.5pp per $1 ?

 

[sarahlord]

Any benefits to using the Diney Visa to pay for the contract over collecting Amex Membership Reward points at 1.5pp per $1 ?

I think you have 6 months interest free if you use the Disney visa.

 

[Lorana]

Any benefits to using the Diney Visa to pay for the contract over collecting Amex Membership Reward points at 1.5pp per $1 ?

I think you have 6 months interest free if you use the Disney visa.

This. If you have the premier, you get 2% back and 6 months 0% interest to pay it off.

As a note, we financed our recent direct purchases because we were selling another contract to pay for it and so I wanted to give myself wiggle room even with the delayed closing, as I spread deposit out over 90 days. Turns out loan payments don’t begin till you close and interest doesn’t accrue till you close, an unexpected bonus! Also, you can pay off the loan with credit cards, and while you won’t get the 6 months 0%, you do get 2% back with Disney premier visa and 3 Ultimate Reward points per dollar with Chase Sapphire card. Had I known this before, I would have financed all my direct purchase so I could pay them with my credit cards. I’m weeping at the amount of rewards points I could have had, lol.