doubting DVC purchase

[disney_bob]

We have the DVC paperwork and such and are even getting a decent deal (getting all of 2010 use year points). We were even paying cash for the whole deal. With the recent string of bad economic news, we're debating whether we should continue with our DVC purchase or see where things go. Anyone else in a similar situation?

 

[DVCconvert]

It's clearly a personal decision.
I generally, personally, wouldn't make the choice to, or not to, buy into any vacation club based on national/internation financial news - only in how it relates to me and my finances. So long as I wouldn't be left in a 'cash poor' position, I'd proably go ahead with it. Good luck in your decision.

 

[DenLo]

If you think there is any chance that you will not be able to take vacations using your DVC points for more than three years, then I would seriously reconsider purchasing. But if you still expect to take your usual Disney vacation then aren't you spending the money you planned to use for your DVC purchase? Purchasing a timeshare is not just for use today for the future.

To spend less of your savings, you could purchase resale instead of buying direct. You would have restrictions on using the resale points (you can't use them for DCL or most of the Disney Collection), but you might save a lot of money going that route.

 

[disney_bob]

If you think there is any chance that you will not be able to take vacations using your DVC points for more than three years, then I would seriously reconsider purchasing. But if you still expect to take your usual Disney vacation then aren't you spending the money you planned to use for your DVC purchase? Purchasing a timeshare is not just for use today for the future.

To spend less of your savings, you could purchase resale instead of buying direct. You would have restrictions on using the resale points (you can't use them for DCL or most of the Disney Collection), but you might save a lot of money going that route.

Thats a good point. I don't see us avoiding Disney for more than three years. Heck, I haven't been there since April and I already have the itch

 

[CMOORE185]

We have the DVC paperwork and such and are even getting a decent deal (getting all of 2010 use year points). We were even paying cash for the whole deal. With the recent string of bad economic news, we're debating whether we should continue with our DVC purchase or see where things go. Anyone else in a similar situation?

I have a DD entering college and could sure use the money I spend on DVC, but when you live in Chicago you gotta get out of town once in a while. All tongue in cheek, I would sell my DVC if it was too much of a financial strain.

 

[Sandisw]

We have the DVC paperwork and such and are even getting a decent deal (getting all of 2010 use year points). We were even paying cash for the whole deal. With the recent string of bad economic news, we're debating whether we should continue with our DVC purchase or see where things go. Anyone else in a similar situation?

I think if you are having any doubts, then take a step back and consider buying less, either via Disney or resale.

DVC is a big purchase and you want to be 100% convinced that your spending is something you are comfortable with.

At this point, especially since you are paying outright so no need to use Disney to finance (a bit easier than financing a resale), you can really save buying in resale.

While there are restrictions, those restrictions are not guaranteed, even for direct points. They are perks and Disney could decide to remove them from everyone. IMO, buying through Disney because you MAY want to use them to cruise down the road, when Disney can eliminate cruising anyway, would put you in for a big disappointment if they ever did.

 

[Chescat Magic]

Yes, my husband and I doubted our purchase, but it has been the best thing we ever did. It is the one bright and shinning thing we can count on. Each year we plan a vacation, using the points, and it gives us something to look forward to for the year. The silver lining in the cloud has Mickey Ears.

 

[disneydenisel]

It's great that you have a good deal and are able to pay cash (no financing, yay!). I have always had a slight bit of buyers' remorse with almost any large purchase, including our two DVC contracts, our Maui timeshare, etc. But, the feelings quickly fade and all I can think of is wishing we had another contract, more points, another week, etc .

True, the economy is in the tank right now, but people are still going on vacations and with the DVC, you really save $$ if you are planning to use the points. Having control over your points and having that 11-month window is really important.

On the other hand, DVC is not going anywhere, so you could always buy later. Retail will always be a higher price point, but resale is usually an awesome deal all the time!

 

[Mtnman44]

The price between resales and Direct for DVC has reached the point where myself and many others would find it nearly ridiculous to buy Direct. Assuming that you are currently considering buying direct, be sure you've checked out the other options and run the numbers.

 

[JimMIA]

We have the DVC paperwork and such and are even getting a decent deal (getting all of 2010 use year points).

That's actually not a deal at all. You are buying in your 2010 UY and they are doing nothing more than giving you what you are paying for.

You might want to research the resale marketplace. You'll save a lot over buying direct from Disney.

Either way, I think you are right that this is a dicey time to be making a luxury purchase.

With the recent string of bad economic news, we're debating whether we should continue with our DVC purchase or see where things go. Anyone else in a similar situation?

I wouldn't lock on to the term "current financial news" -- the economy has been in trouble since 2008 and isn't getting any better. This is not new news, and the global economy is much weaker now than it was back in 2008.

While the overall economic picture may not directly affect you yet, that doesn't mean it won't eventually. For example, I have friends who were secure in the fact that they had solid government jobs -- now they're taking big paycuts and some of them are being laid off. Two years ago, you never would have convinced them any of that would happen.

In the private sector, if we get the "second dip" of this prolonged recession (as appears likely), a lot of companies and a lot of individuals who weren't affected the first time around will be this time.

My personal opinion is that if you have any misgivings at all, buying a luxury like a vacation timeshare is the last thing I would do.

 

[crisi]

So, if you lost your job tomorrow, would you regret your purchase? If you lost your job tomorrow and were out of work for eighteen months, would you regret your purchase?

Those aren't bad questions to ask when the economy is good. They are necessary questions to ask now.

 

[csharpwv]

We have the DVC paperwork and such and are even getting a decent deal (getting all of 2010 use year points). We were even paying cash for the whole deal. With the recent string of bad economic news, we're debating whether we should continue with our DVC purchase or see where things go. Anyone else in a similar situation?

It all depends on if you are buying direct - or buying on the secondary market.
The pricing, and how you plan to use DVC will determine what the better avenue is.

You can't think of DVC as an investment. You can't think of DVC as real-estate. You can't imagine a monetary return on your investment. At no point in time in the foreseeable future is your financial outlay going to appreciate in value.

You are pre-paying for future vacation accommodations - and giving yourself an advantage of the over increasing price of lodging at WDW - and other Disney destinations.

The decision to cancel your purchase is yours, and yours alone - however, if you think that you are going to travel to WDW every year, or every other year - it is worth the consideration that DVC may be the safest bet for your money right now. Once again, not as an investment - but as a hedge against inflation.

One of the biggest things that we love about DVC is that we don't have to worry so much about budgeting for vacations. Lodging is usually the most expensive thing- and with DVC that's covered!

You have to think about DVC and how it fits into your life in 10-15-20 years from now.

It is a lot of money - and a decision that shouldn't be taken lightly.

 

[KAT4DISNEY]

Lots of good advice going on. Some of the best is that if you do decide to buy DVC to take a step back and look at resale. You will find far better deals than anything direct from Disney these days. And a lot of that has to do with the economy and purchasers that needed to sell because they couldn't afford to keep it. It's good you're considering that prior to buying.

 

[DisneyMotherOf2]

When in doubt, take a step back and confirm you're 100% on board with your purchase. It's a big decision. Good luck!

 

[dudelydude]

I'm with everyone else on purchasing in the resale market. Many people buy direct from Disney, then say, "Why didn't someone tell me about resale?"

Really, there's no trick to it. If you see identical shoes in two different sales papers with one costing up to 25% more than the other, don't you just go to the store where you can get the shoes cheaper? Seriously, getting your contract much cheaper will likely make your decision easier.

 

[littlestar]

I'd take a step back if you have doubts. My husband just lost his job after 29 years - his company moved most of their operations to the west coast to consolidate and save money. Something we never thought would happen in a million years. It's truly a tough economy! Almost everyone I know knows someone that has either lost a job, had their hours/pay cut, or are working part-time when they need full-time.

We were able to downsize our DVC points after my husband's job loss (we kept 25 points just to keep our foot in the door). Maybe you could buy less points and break it up to where you could keep a small package if the worst happens and you needed to downsize. We felt like the money we had tied up in DVC could be put to better use to pay off our mortgage.

 

[Judique]

Are you buying retail or resale?

 

[disney_bob]

Unfortunately my wife has made it clear that she has no interest in resale despite the cost savings. She doesn't want to have to deal with trying to sell points for future trips. I can't blame her too bad for not wanting to deal with it, though it does limit (aka remove) the resale option.

We're doing a 75point and a 70point contract.

 

[discorsner]

We are just in the researching stage at our house but I thought that even with resale you can use the RCI exchanges. I think it is just the Disney collection that can't be used if you do resale (cruise line and other disney non dvc resorts).

Also from what I have read a lot of people pointing out is that Disney could end all of those privildges for direct buyers anyway.

I am not sure I understand why she would have to rent points in order to do non-Disney vacations?

I'm sure someone else who actually has experience with DVC will chime in and correct me though if needed. Like I said we are extremem newbies to the DVC world but we are gathering info and money and hope to get a resale contract before the end of the year.

 

[disney_bob]

Sorry, I mis-spoke. One of those "knew what I meant but didn't say it" things. You can use it for RCI but not for concierge, disney, or adventurer collections.