DVC for Dummies

[Shellybird]

OK -- Finally, my DH says buying DVC is a go! Here's a couple of questions.

When I look at resales that are available -- say at 200 points, some have no points for 2004, others have some points now, some have banked points. But the price per point is for the flat 200 points, right? So, then, it's a better deal to buy a contract with banked or available points than points for 2005 -- is this right?

How much do the offerings flucuate from resort to resort? When I first started looking a year ago, we thought for sure we wanted WLV because we stayed at the Lodge 5 years ago and loved it. But now, one son is 15, one is 9, and we're thinking BCV may better meet our needs now. When I looked last year, hardly any WLV were available. Now, hardly any BCVs are available. Does this change month to month? Or am I in for a long wait for BCV in the low-to-mid $70s? I'd love that 700 point sale -- if only I'd hit the lottery!

Has anyone put a certain amount of money down, then put the rest on a Disney Visa card for the rewards? Did this work well?

Thanks for any help! I WANT TO COME HOME!

Shellybird

 

[5infam]

When I look at resales that are available -- say at 200 points, some have no points for 2004, others have some points now, some have banked points. But the price per point is for the flat 200 points, right? So, then, it's a better deal to buy a contract with banked or available points than points for 2005 -- is this right?

That's correct. That is why you may see a little bit higher price for those with banked points and points available for the current use year, versus those that have used more of their points. Keep in mind also, that many sellers may look to you to pay dues on the existing use year points that are still available. This is negotiable, but remember, Disney may exercise their ROFR (Right of First Refusal) if the deal is too sweet.

As far as resales go, it is hit and miss. Keep in close touch with the resale brokers and check with them regularly. Often the best contracts never hit their web site. Who knows what this summer will bring; more BWV and BCV and less OKW?, no one really knows for sure.

The Disney Visa thing works well (or at least I have heard) when you are buying direct from Disney. However, resale purchases have to be paid in cash, so I do not think your Visa will be an option. Good Luck!!!

 

[Merilyn]

It does make a difference to have points you can use now when you buy a contract if you plan a trip right away. If it has banked points then more the better. The banked point would have to be used by the end of the use year they were banked into. I wouldn't want a contract that had no points this year and you have to wait to next year. You could borrow them into this year to take a trip but then you will want to borrow every year to have a trip that year. Borrowing will finally catch up with you. I would buy where you want to stay the most. Keep in mind the size unit you will need in the future. I have added on several times-can't get enough points! I did use a credit card to confirm my purchase and then paid it off. It is nice to get all those miles.

 

[cruise-o-matic]

OK. For example if you go to the Timeshare Store resale sites, there are VWL's for sale at $69pp, but the 2004 poinnts are borrowed and none available til 12/05. Then there is a listing for one that has 99 points (out of 150) available on 8/04 for $71pp. Another has 156 points on hold for now, with 195 (out of 221) more points available on 12/04 for $72.

It would seem that the ones w/o points available til 12/05, though cheaper pp wise, are not the best deal. At least with the other 2, the points are available now to use or rent (to recoup closing costs).

Which would be the better deal? What would be the best buying strategy for all 3?

BTW, what does "hold status" mean?

 

[gchiker]

It would be nice if some published a book: "DVC for Dummies," just like the other books in the series.

 

[smjj]

5infam is correct. The best deals many times never hit the website. Thats how we got ours. We told our rep. at The Timeshare Store what we wanted and got it before it hit the site. It did hit the site for a day or two put came out as pending then was removed. Call and keep in touch with your rep...smjj

 

[Cruelladeville]

You do NOT want a contract that doesn't at least have the current year's points, and maybe even banked points. If you bought a contract where the points were borrowed, even if the price was good, you are paying thousands of dollars for something that you can't even use for another year! That's like paying your house payment for a year before you can move in!!

Now, there might be an exception to that under special circumstances--I bought a contract once where I couldn't use it for a year, but I couldn't travel for a year, the price was $59 a point, and they paid me two year's worth of dues after the ROFR went thru, so it worked out well. That would be very unusual to happen, and you wouldn't be able to work with an agent to work this way, I don't think.