Disney offered to directly purchase - not a ROFR

[Terry S]

I was really surprised when my mom told me that when she called Disney to ask them the payoff balance for her loan, they told her that they would buy it back directly and she could have a check in 2 weeks. She owns at Beach Club like me. They told her they would buy it at $58 a point. I told her no way! Call the Timeshare Store. She is still not sure if she is selling but I was really surpirsed to hear that Disney offered to buy it directly, I didn't realize they did that.

 

[nmere]

For $58 a point they can't go wrong!!! buy at 58 sell for add ons at 96 or so, not a bad profit.

 

[sean-1966]

That's kind of sneaky of DVC. They should have at least offered the going rate.

 

[Doctor P]

I was really surprised when my mom told me that when she called Disney to ask them the payoff balance for her loan, they told her that they would buy it back directly and she could have a check in 2 weeks. She owns at Beach Club like me. They told her they would buy it at $58 a point. I told her no way! Call the Timeshare Store. She is still not sure if she is selling but I was really surpirsed to hear that Disney offered to buy it directly, I didn't realize they did that.

I think things are getting confused here. If she has a loan, Disney actually still owns the points. She owes money to them. They are offering to take the points back and pay her $58 for her equity in each point it sounds like. This might be much simpler than a forclosure or even having to go through an outside closing for them. IMHO, this is very different than offering to buy points back directly.

 

[Doctor P]

That's kind of sneaky of DVC. They should have at least offered the going rate.

Thats a NET $58 per point. We don't know if that is a good or a bad offer depending on how much she owes on the loan.

 

[Terry S]

No not a net! Because they specifically told her, the amount of $14,616.00 (252 points) and then subtracted the amount she owes ($7,379.90) and said the amount she would be getting would be $7,236.10. They told her a check would arrive in the amount of $7,237.10 in 14 days if she choose to do that today.

 

[Mickmse2002]

Never heard this before. This would certainly be a new wrinkle to the whole system. I recently paid-off my loan and they made no offer to me.

 

[Doctor P]

No not a net! Because they specifically told her, the amount of $14,616.00 (252 points) and then subtracted the amount she owes ($7,379.90) and said the amount she would be getting would be $7,236.10. They told her a check would arrive in the amount of $7,237.10 in 14 days if she choose to do that today.

Were you on the phone? I find this story incredibly difficult to believe for a number of reasons. I am not calling you a liar, but I think there was a misunderstanding somewhere. For one, I don't think that the people who would be able to give her the accounting information would be licensed to make the kind of offer that was claimed to be made. They could possibly make a settlement offer, however.

 

[ClarabelleCow]

No not a net! Because they specifically told her, the amount of $14,616.00 (252 points) and then subtracted the amount she owes ($7,379.90) and said the amount she would be getting would be $7,236.10. They told her a check would arrive in the amount of $7,237.10 in 14 days if she choose to do that today.

Did she pay 14,616 (58 a point) when she purchased her points, if so, she would get all her money back, and have ended up with free vacations. Or she could come up with the payoff, and then sell the contract and make some money, cause she could get much more than 58 a point on the resale market, even with brokers involved. Did she even say to them she wanted to sell? It just seems odd.

 

[T.E. Yeary]

She's lucky to get a $58per pt. price. Our customers reported they were offered $55per pt.

Have her give us a call,
Tom

 

[Terry S]

OMG my mom is an intelligent women and I beleive what she told me. She wrote the figures down and gave them to me as above. I don't care if you beleive me or her, I just thought that the information might be of interest to some people here.

She paid $70 per point which is what BCV sold for at the beginning with discounts.

She did mention to the women that the reason she was calling for the payoff amount was that she was considering selling.

 

[Terry S]

Thank you Tom for confirming that my mom is not an idiot! I did tell her to give your company a call if and when she does decide to sell. I have sold several of my contracts with you recently and 3 are still currently up for sale.

 

[LisaS]

I was really surprised when my mom told me that when she called Disney to ask them the payoff balance for her loan, they told her that they would buy it back directly and she could have a check in 2 weeks. She owns at Beach Club like me. They told her they would buy it at $58 a point. I told her no way! Call the Timeshare Store. She is still not sure if she is selling but I was really surpirsed to hear that Disney offered to buy it directly, I didn't realize they did that.

There have been a couple of threads about this in the past year or so where people reported Disney offered to buy back their points at $55/point. Looks like they have raised their standard offer to $58/pt now, or maybe it's just because it was BCV. I don't know if they will buy back any resort or just the ones most in demand for add-on points. In any event, it's not a good deal for the seller! Certainly a great deal for Disney who will turn those points over in a few days for $95/pt.

 

[sean-1966]

She paid $70 a point. Resellers are getting around $90 a point and DVC offers $58??? Really sneaky if you ask me. If they want it they should pay the going rate of $90. This actually bothers me a bit. I always thought of disney as a reputable company. I understand that they need to make a profit but it sounds like they are trying to profit off of someones ignorance to the points actual value. Thank god for sites like this.

 

[tjkraz]

She paid $70 a point. Resellers are getting around $90 a point and DVC offers $58??? Really sneaky if you ask me. If they want it they should pay the going rate of $90. This actually bothers me a bit. I always thought of disney as a reputable company. I understand that they need to make a profit but it sounds like they are trying to profit off of someones ignorance to the points actual value.

How is that any different than selling a 2-liter of soda for $4 at the resort when you can get it for $1 at Publix?

How is that any different than offering tickets for sale at about 5% more than outfits like Undercover Tourist or Ticketmania?

How is that any different than selling souvenir t-shirts for $30 each when you can get them for $15 at the Premier outlet?

This doesn't surprise me a bit.

 

[rinkwide]

How is that any different than selling a 2-liter of soda for $4 at the resort when you can get it for $1 at Publix?

How is that any different than offering tickets for sale at about 5% more than outfits like Undercover Tourist or Ticketmania?

How is that any different than selling souvenir t-shirts for $30 each when you can get them for $15 at the Premier outlet?

How is that any different than someone listing their points on eBay at $17 per?

Err... Wait, maybe that wasn't such a great example.

 

[tor]

Sounds like a smart move for Disney if you ask me aren't they in the business of extracting money from your wallet??

Forget the bottled sodas what about a cup of soda 1 cent for the soda 3 cents for the cup and dont' forget we can't give you a lid or straw for enviromental reasons and they sell it for $2

 

[Slakk]

Were you on the phone? I find this story incredibly difficult to believe for a number of reasons. I am not calling you a liar, but I think there was a misunderstanding somewhere. For one, I don't think that the people who would be able to give her the accounting information would be licensed to make the kind of offer that was claimed to be made. They could possibly make a settlement offer, however.

I was told DVC would buy back points as well so the conversation seems valid to me.

 

[utahkennedys]

I can see why some people would take up DVC on their offer -- they don't want the hassle. Same reason millions of people every year trade in their old car for a new one at the dealer for 1/2 the value they could get selling it on their own -- they don't want to do it. Although I think that is kind of a low price point, Disney does have costs associated with the administrative end...

 

[JimMIA]

I don't think any of this is new news. Like LisaS and Tom, I've heard of Disney paying $55 for quite a while. It seems to be only when they are approached by the owner, but it's nothing new. The $58 price might be because they've raised their overall prices since the last direct buybacks we've heard about.