DVC dues etc. Newbie needs explanations

[atdlawman]

My wife and I are planning a trip to Disney near the end of October/beginning of November, and she found out about the renting of points from DVC members. After looking into all of the details, we are seriously considering becoming members ourselves...however, I am confused/uncertain about a number of points:

1) How much are the "dues"? What do they cover? Etc., etc.

2) When can you begin to use your points after purchase? Do you have to wait the 7/11 months prior to first use?

3) What is the deal with resales? Any reason NOT to go this route?

4) Payment methods...is everything required up front, or are there payment plans, etc. Do most people get a mortgage type loan for this (can you do that for a time share?)

Anyway, any information would be greatly appreciated!

THanks.

atdlawman

 

[JimC]

1. Dues vary by resort, from 3.49 to 4.37 per point per year. Annual increases at OKW, the cheapest dues resort and the oldest resort have increased 3.1% per year since 1993. The dues cover the costs of operating the resort, member services and the like.

2. Once you are in the system you can use your points. When we purchased BCV from Disney, our guide made our first reservation when we confirmed the deal. Member services had our points activated within two hours. The 11/7 month window is the headstart you get when making reservations (11 months out at your own resort and 7 months out at all remaining resorts).

3. We also bought resale at OKW. They are less expensive than buying from Disney and more negotiable (just like any real estate transaction regarding closing costs and price). You can only buy full contracts (if you buy from Disney you pick the size >150 points). There is a greater selection resale, except that BCV is mostly available only from Disney (newest resort). We bought where we want to stay (which seems to be the common advice from most DVCers) -- so we bought BCV from Disney and OKW resale.

4. Disney offers a mortgage (different rates for different deposits and term up to 10 years), but the rates are much higher than a home equity loan. I am aware of one company that loans for timeshares on the resale market. You can get the name from the timeshare brokers.

5. By the way our Disney guide is Byron Helgeson and Pat Spell at Timeshare Store sold us our resale. Both were first rate to work with.

 

[atdlawman]

Thanks for the info, JimC...sounds like I still have some more research to do, but this really helps.

 

[DemoBri1]

I'll second the ringing endorsement for Byron. He really helped me through the process of purchasing our 170 pts at BCV. I put him through hell as it took me nearly 9 months to finally decide to buy in.

I never received any pressure at all from him and he was very personable, but not in a phony sort of sense.