Dumb Question, Maybe(?)

[SkippyZippy]

ok so scenario.

Im Getting Married in November. My Future Wife and I got engaged in Disney, Love being there, went through the "open House" thing for DVC on our last vacation but held off. Its something we want to do, I think myself a little more so then my future wife. Looking at the Current incentives, I was thinking of doing this.

Buying 160 Points at SSR as a Wedding gift to ourselves.
Using the 500 Prepaid Visa Card you get with Purchase for Annual Passes.
Then using a small part of the money we get from Family and Friends to pay off DVC.

Does this seem feasible to everyone/Anyone? or is my head just in the clouds.

Thanks in advance.

P.S. Anyone know what form of payments are taken for down payments if buying direct? Can I just put the down payment on my Disney Visa? Or does it have to be Check/Money Order etc. thanks again

 

[WRWDisney]

I'll answer your last question first. The down payment/deposit is 10%. You can put this on your Disney Visa. Check with Disney Visa, but I believe you can get 6 months no interest and I believe it can be for more than the 10%.

All of that said, While I am unaware of Disney's current incentives for SSR, there are numerous contracts available on the resale market and they are priced in the mid $60's. Something to consider.

Good luck

 

[Mtnman44]

Don't know your specific situation, but I wouldn't look at this purchase unless you already have school, home, and savings taken care of. It is a luxury and for many it is a commitment of significant expense. I don't mean only the purchase and maint fees. I also mean the cost of actually using the points every year. For us, it costs my family around $4,000 minimum to use our points each time (travel, meals, etc), over and above the cost of the actual points.

That being said, if you want to buy then there is almost no reason not to buy SSR on the resale market right now at half the cost or better.

 

[cvjw]

I would look into buying resale first, you can save lots of money that way. I remember when DH and I were first married - neither of us were making much money, we were saving for a house, still had car payments, no savings, etc. No way we could've swung DVC back then. We waited until we had our financial house in order, so to speak, before buying DVC - which is a want, not a need!

 

[5forDiz]

I'm not trying to discourage you from ever purchasing DVC, and this is jmho, but get your wedding and getting settled into married life with all other things taken care of that are part of beginning a life together ( your own place, furniture, better cars, adequate insurance for both persons & possessions etc. etc. ) and then get your future Mrs. 100 percent on board with it too before thinking about DVC purchase; it's not going anywhere & will be around for quite some time.

As other posters here have said, the resale market is where the savings can often be significant There's alot to learn about DVC & asking questions here is a great resource. Take the time to find out everything you can about the resorts, booking windows, points you'd need for when you are most likely to travel, etc. At the open house presentations they do make it seem so easy to do this, that & the other but there's much to know and understand. And if you are thinking about using it for non-DVC resort travel there are much better timeshares out there for that purpose.

Best wishes to the future Mr. & Mrs.

 

[DisDad07]

My DD is getting married in July, and she loves WDW! They will honeymoon at BLT.She would love to own DVC but I told her visit a half dozen times when married and see if you both still love it. then decide.

 

[Alice-in-wonder]

Yes, but if you consider the cost of vacationing there half a dozen times, your DVC could be payed for!

 

[Sandisw]

I think that you should really investigate the resale market as the price difference is about $30 - $40/ppt for SSR if you go that route via Disney.

The only drawback is that the rules for resale contracts change on 3/20. Buying that way, after that date, will limit the use of DVC points for certain options like the Disney Collection (there are other limits too but I don't remember them off hand since I only use my points for DVC).

If any of that is of interest, and you are not ready to put in an offer on SSR right now, then you will be forced to go through Disney.

If you are anticipating that your wedding money will be enough to cover the cost of DVC, then you should be aware that you can put the purchase (up to $10,000) on a Disney Visa and they will give you 6 months, 0% interest. Not sure when you are planning to get married, but this may help if you needed to short term finance.

Good luck!

 

[SamSam]

Yes, Disney Visa can be used for the down payment (6 months), you can also put all the cost on visa, but I wouldn't advise that unless you can pay it off.

Just keep in mind that you will have yearly dues to pay.

If you keep all that in mind, I say go for it. Dh and I didn't buy in until our kids were grown and gone, and we very much regretted not buying in earlier.

 

[newyorkmike]

Congratulations on your pending nuptials!

If you finance the purchase, you must make a minimum downpayment of 14% to qualify to receive the visa gift card right away. If you only make the 10% downpayment, you are required to make a minimum of 4 monthly payments if you buy less than 160 points and 3 monthly payments if you buy more than 160 points before you qualify to receive the gift card. Given that it takes around 45 days before you close on your purchase, it could be 6 months from the date you call up and "buy" your points until you actually receive the $500 visa gift card.

Also, as a husband of almost 10 years, let me suggest that you consult your future bride before buying points to make sure that she is in agreement with the decision. The last time I made a significant purchase without consulting my wife, my golf clubs ended up on Ebay.