DVC? lots of questions,

[huckster]

I will start by asking the first one i dont know if is aloud so please remove if i am not aloud, i read thru rules of board but may have misunderstood thanks you
some one told me if you have to ask how much to purchase a DISNEY DVC then you prolly would not qualify any way so dont ask .
So what up front money might one need to get started?
thank you

 

[Disneypubgal]

It depends on whether you but direct from Disney or resale...

 

[huckster]

Is there a range as to were to start?
thank you

 

[chalee94]

So what up front money might one need to get started?

how much room do you need? what time of year do you travel? how often do you go? edited to add: what resort do you prefer?

i only need a studio for a week in early december every other year or so - or 4 or 5 weeknights per year - and it cost me less than $4000 up front. if you need a 2BR for a large family during the summer, it would cost considerably more.

1) start by looking at the point charts for the different DVC resorts linked in the top right-hand corner.

2) then look at the resale link to see how much a contract at that resort might cost (closing costs for resales run about $350-500) - or else look at the prices to purchase directly:

http://dvcnews.com/index.php/dvc-program/financial/pricing-a-promotions

3) consider how much additionally that you would have to pay in annual dues (or "maintenance fees") to own that resort.

here is a link to historical annual dues per point for the different DVC resorts.

 

[Disneypubgal]

If you are buying direct from Disney the number of pts is 160 (although I think AK may be 100, please jump in and correct me if I am wrong)... you would have to put some % of that down and you could finance the remainder thru DVC. I think the price per pt is between $110-$120 depending on current incentives... Resale you could get a contract as low as 25 pts if you can find it and the pricing varies depending on the location and whether or not is is "stripped", meaning all the points for the current and next use year have been used. For a resale you would need to have the dollars up front as there is not a financing option.

 

[Mtnman44]

This is really like asking "I'd like to buy a new car, what is the price range?"

There are a lot of variables for price...Direct or resale, how often you want to travel, how long each trip, what size room, what season, what resort.

A very small point contract that only allows for a few days in a studio every three years may cost as little as $2,000. Enough points to spend two weeks a year in a 2 Bedroom at Bay Lake Towers may cost $45,000 or more.

Is there a range as to were to start?
thank you

 

[dmoore22]

some one told me if you have to ask how much to purchase a DISNEY DVC then you prolly would not qualify any way so dont ask .

That statement is just too bizarre. As previous posts have stated it all depends. Are you considering direct from Disney or a Resale? Because you ask the price doesn't exclude you. It just shows your thoughtful and want information to plan wisely. Visit sights such as the Timeshare Store to get an idea of what you may be able to get, within your budget, via resale. Then you can compare that to the Disney DVC sales incentives to see which may work best for you. Good Luck!

 

[Corwin]

If you buy directly from Disney now, they are actively marketing BLT and AKV.

To get BLT directly from Disney, the minimum purchase is 160 points. If you get the minimum 160 point contract, you will pay $114/point, which works out to $18,240, plus closing costs of about $300. You have to put down at least 10% of this. The rest can be financed through Disney, depending on your credit. Their best rate is 10.75%, IIRC.

You can buy AKV for $102/point from Disney, with a minimum 100 point purchase. This works out to $10,200.

You can also buy resale from a company such as The Timeshare Store, which is a sponsor of this site. There is no minimum purchase, and prices are much lower. However, the process takes longer, and financing is a bit more difficult to arrange. Also, if Disney feels that your purchase is below market value, they will exercise their "Right of First Refusal (ROFR)" and purchase it out from under you--so you have to start over.

See listings here:
http://www.dvc-resales.com/dvclisting.cfm

We're currently in the process of purchasing a resale from them, and we've been very happy with the process.

 

[Sandisw]

There are some who believe that if you can't pay cash upfront (and most new contracts through Disney are going to run you at least $16,000), then you can not afford the luxury.

However, everyone's circumstance is different. Currently, you can buy and finance through Disney for as little as a 100 point contract at AKV and SSR. Based on the price per point they are charging, it is about $10,000 - $11,000.

Disney requires at least 10% down and will provide a loan up to 10 years at interest rates of about 11 - 15% (depending on your credit).

If you want to save money, there is a great resale market which can save you a lot of money. You can still obtain financing, but I don't think it is quite as easy as going through Disney, especially since Disney's loan doesn't show up on your credit report.

However, resale takes a lot longer than Disney. If you have patience and don't want one of the newer resorts (BLT or VGC) where resale contracts are limited, then it is definitely a wise idea to check with one of the resale brokers (we used the board sponsor, The Timeshare Store and they are great!).

Good luck!!!


Good luck!!

 

[kcdivine]

There are some who believe that if you can't pay cash upfront (and most new contracts through Disney are going to run you at least $16,000), then you can not afford the luxury.

However, everyone's circumstance is different. Currently, you can buy and finance through Disney for as little as a 100 point contract at AKV and SSR. Based on the price per point they are charging, it is about $10,000 - $11,000.

Disney requires at least 10% down and will provide a loan up to 10 years at interest rates of about 11 - 15% (depending on your credit).

If you want to save money, there is a great resale market which can save you a lot of money. You can still obtain financing, but I don't think it is quite as easy as going through Disney, especially since Disney's loan doesn't show up on your credit report.

However, resale takes a lot longer than Disney. If you have patience and don't want one of the newer resorts (BLT or VGC) where resale contracts are limited, then it is definitely a wise idea to check with one of the resale brokers (we used the board sponsor, The Timeshare Store and they are great!).

Good luck!!!


Good luck!!

How is it that a disney loan will not show on credit report?????? I don't think that can be true!

 

[ToddyLu]

WHen they check your credit for the loan it is instant. Our guide told us right then what we qualified for. Since Disney backs the loan...from what I understand....they are the ones risking and can just take the points back. Because it is a Disney product, financed through Disney the risk is theirs and it doesn't show up.

 

[wdwnut]

I've had 2 different loans from DVD Co. that have never, ever shown on any of the big 3's credit reports on me. On the other hand, now that they're paid off (early), that doesn't show either.

 

[Deb & Bill]

And once you have purchased your points from Disney, you will also pay annual member fees (at a price per point - currently in the range of about $4-6 a point this year). Those maintenance fees do go up each year. And if your resort has any major improvement or repair not covered by insurance or the fees, they can implement a special assessment.

 

[Sandisw]

How is it that a disney loan will not show on credit report?????? I don't think that can be true!

Because of Disney Magic!!! I believe they own the loan and therefore, choose not to report it. For some, this can be a really good thing!!

When we bought last year, we almost went with the financing, just for the ease while we figured something else out for less.

We ended up cancelling because we used our Disney Visa and got 6 months, 0% interest on both our add on purchases, enough time to pay them off. It was great (plus we got a lot of Disney reward points!!!)

 

[littlestar]

I've heard the Disney loan doesn't show on your credit history as long as you stay current. I imagine if you quit making your payments that it would.

 

[Crystal_27]

Is there a range as to were to start?
thank you

I will tell you what we paid. We bought 220 point at BLT (Bay Lake Tower) and we paid $96/point (a total of $21,120) plus about $300 in closing costs. Right now (I believe) BLT is selling for $120 less an $8 incentive, so those same 220 points would currently cost $24,640. However, depending on the resort you choose, the method of purchase (resale or direct through Disney), and the number of points purchased, you can be all over the map. When buying direct through Disney, they will insist on a minimum purchase of 100 or 160 points, depending on which resort you buy into. So, you should assume that if buying through Disney the minimum you would spend would be about $9,000. Resale is a completely different story, though. If you are interested, just browse the listings of The Timeshare Store by clicking the banner above. Good luck!

 

[charvel67]

When we bought went with a small 60 pt. contract thinking we would go every other year. We have already gone twice since Oct. 2009 and stayed in a 1 BR in Oct. and can't go back to a studio. We paid cash for a resale through the sponsor of this board and everything was smooth and quick. Our lesson learned is buy enough points the first time around. I realize not everyone can do this but if you can go for it. Resale offers a great opportunity.

 

[smcdaniel4688]

DH and I are looking to purchase and would finance for less than a year and use his bonus to pay it off. I have a few questions and you all seem very in the know so any info would help!! Looking at BLT or AKV.. We have myself, DH and two kiddos and would be looking to go twice a year and stay 5-7 days per visit in a studio or 1 bedroom. We prefer off times and gladly take our kids out of school (always excused absences of course)...Can anyone give me an estimate on the amount of points we would need for that? Also, can you up your points if you buy in and see you have too few? And can you add points if you buy a resale? I am sure these sound like very amatuer questions but the DISboards is the best place I know to ask them! Thanks guys!!

 

[Sandisw]

DH and I are looking to purchase and would finance for less than a year and use his bonus to pay it off. I have a few questions and you all seem very in the know so any info would help!! Looking at BLT or AKV.. We have myself, DH and two kiddos and would be looking to go twice a year and stay 5-7 days per visit in a studio or 1 bedroom. We prefer off times and gladly take our kids out of school (always excused absences of course)...Can anyone give me an estimate on the amount of points we would need for that? Also, can you up your points if you buy in and see you have too few? And can you add points if you buy a resale? I am sure these sound like very amatuer questions but the DISboards is the best place I know to ask them! Thanks guys!!

The number of points you would need really would depend on what resort you would be going.

For example, a 1 bedroom standard view room at AKV for a week will run anywhere from 162 points to 270 points, depending on the season. A studio would be only be 81 to 146.

However, at BLT, the standard view 1 bedrooms would run you from 201 to 347 points a week, depending on season. A studio would be 103 to 183.

With wanting to go two trips a year, you would probably be able to start with 200 points and do studios at the different resorts.

My suggestion is to click on the link at the top of the DVC point charts and look at your different options. There are different seasons and depending on when you go will make a difference. Once you have an idea, then you can decide on home resort and how many points.

You can add on once you buy in with more points, either direct or through resale. With Disney, add ons can be as little as 25 points (paying cash) or 50 points if you want to finance.

 

[smcdaniel4688]

The number of points you would need really would depend on what resort you would be going.

For example, a 1 bedroom standard view room at AKV for a week will run anywhere from 162 points to 270 points, depending on the season. A studio would be only be 81 to 146.

However, at BLT, the standard view 1 bedrooms would run you from 201 to 347 points a week, depending on season. A studio would be 103 to 183.

With wanting to go two trips a year, you would probably be able to start with 200 points and do studios at the different resorts.

My suggestion is to click on the link at the top of the DVC point charts and look at your different options. There are different seasons and depending on when you go will make a difference. Once you have an idea, then you can decide on home resort and how many points.

You can add on once you buy in with more points, either direct or through resale. With Disney, add ons can be as little as 25 points (paying cash) or 50 points if you want to finance.

Thank You for the info!! I was beginning to feel a bit overwhelmed and didn't really know where to start.....thanks again!