DVC resale just trying to get some things straight

[Tlmb615]

We have been looking into DVC for years...This is the closest we have ever come and I have some questions.

From what I have read you can only use DVC resale points at disney DVC properties. Does that mean you cannot use them at other Disney World resorts, such as Pop Century?

Also, how have most people paid for their points. Do you go out and find a way to finance or do the brokers offer any financing?

Thanks

 

[_auroraborealis_]

Does that mean you cannot use them at other Disney World resorts, such as Pop Century?

This is true. However, using DVC points for other Disney hotels is typically a poor use of points, and most owners will do better by renting their points for cash, then making a cash booking using a discount.

Also, how have most people paid for their points. Do you go out and find a way to finance or do the brokers offer any financing?

You can get financing. I, and many others, feel that financing is not a great financial move, as you will be looking at 10-18% interest rates, even going direct with Disney. DVC is a purchase many of us feel is best made cash-in-hand.

Lots of solid information here to read: http://www.disboards.com/threads/★-☆-★-the-dvc-information-center-★-☆-★.3436037/

 

[Tlmb615]

This is true. However, using DVC points for other Disney hotels is typically a poor use of points, and most owners will do better by renting their points for cash, then making a cash booking using a discount.



You can get financing. I, and many others, feel that financing is not a great financial move, as you will be looking at 10-18% interest rates, even going direct with Disney. DVC is a purchase many of us feel is best made cash-in-hand.

Lots of solid information here to read: http://www.disboards.com/threads/★-☆-★-the-dvc-information-center-★-☆-★.3436037/

Thank you so much

 

[Tlmb615]

I have seen some brokers listed that people have used. What is the best way to find one?

 

[disneynutz]

We have been looking into DVC for years...This is the closest we have ever come and I have some questions.

From what I have read you can only use DVC resale points at disney DVC properties. Does that mean you cannot use them at other Disney World resorts, such as Pop Century?

Also, how have most people paid for their points. Do you go out and find a way to finance or do the brokers offer any financing?

Thanks

DVC resorts are deluxe resorts, if you enjoy value or moderate resorts, don't buy DVC you probably won't save any money. If you need to finance, you will save even less money.

Have you considered renting a reservation from a member to try the DVC resorts and rooms out?

Bill

 

[Tlmb615]

DVC resorts are deluxe resorts, if you enjoy value or moderate resorts, don't buy DVC you probably won't save any money. If you need to finance, you will save even less money.

Have you considered renting a reservation from a member to try the DVC resorts and rooms out?

Bill

We have rented points. I was really just trying to totally understand how things work before making the purchase. I had read that it was not a good value to use at other disney properties and would not do that.

Thanks

 

[icc2515]

I have seen some brokers listed that people have used. What is the best way to find one?

I have recently purchased 2 contracts and am waiting on a third from The Timeshare Store. They were easy to work with and kept me informed along the way. Now that they are using a different title company, things seem to be moving along more quickly. Disney is the one dragging it's feet now with slow ROFR and Estoppels. Just look at their website and find a contract that works for you. Make an offer on the contract (don't pay asking) and wait. The whole process is easy, but it does require patience. I financed one of the contract through Monera.

 

[Tlmb615]

I have recently purchased 2 contracts and am waiting on a third from The Timeshare Store. They were easy to work with and kept me informed along the way. Now that they are using a different title company, things seem to be moving along more quickly. Disney is the one dragging it's feet now with slow ROFR and Estoppels. Just look at their website and find a contract that works for you. Make an offer on the contract (don't pay asking) and wait. The whole process is easy, but it does require patience. I financed one of the contract through Monera.

I have been reading and reading. What is Estoppels? Wow that is so much great information. Thanks

 

[Dean]

We have been looking into DVC for years...This is the closest we have ever come and I have some questions.

From what I have read you can only use DVC resale points at disney DVC properties. Does that mean you cannot use them at other Disney World resorts, such as Pop Century?

Also, how have most people paid for their points. Do you go out and find a way to finance or do the brokers offer any financing?

Thanks

As noted yes and you wouldn't want to. If you want that option just don't buy in or buy less points and only use the points at DVC. You currently lose NOTHING of value buying DVC resale.

 

[icc2515]

I have been reading and reading. What is Estoppels? Wow that is so much great information. Thanks

Estoppel, as I understand it, is basically a document that Disney supplies to the title company verifying the number of points on the contract, how many are used, banked or borrowed, and any outstanding loan info.

 

[Tlmb615]

Estoppel, as I understand it, is basically a document that Disney supplies to the title company verifying the number of points on the contract, how many are used, banked or borrowed, and any outstanding loan info.

Thanks so much

 

[KAT4DISNEY]

We have been looking into DVC for years...This is the closest we have ever come and I have some questions.

From what I have read you can only use DVC resale points at disney DVC properties. Does that mean you cannot use them at other Disney World resorts, such as Pop Century?

Also, how have most people paid for their points. Do you go out and find a way to finance or do the brokers offer any financing?

Thanks

The only value resort that has ever been available to use points at is Art of Animation but the point requirements are high and it really doesn't make sense to book the hotel side so nothing of value in not being able to use that option.

We did not finance and I wouldn't personally recommend it. You have to figure out how much that adds on to the cost vs looking for deals for the hotel rooms. If DVC does make sense for you then it's likely better to save up for a bit longer or to buy a smaller contract and continue to save for more until you reach the number of points that you feel is needed.

 

[OutNChiTown]

I like to assign a dollar amount to my points before making any type of a decision. I.E.:

You can get an average of $13pp to rent them (usually higher, but lets go with $13). Now, take that and apply it to the per points for a resort room. Art of Animation in September is at its lowest 30points per night. That's $390/night or a total of $2730 for a 7 night stay. If you book the Little Mermaid Room as just a room stay for the same dates, it costs you $139 per night or a total of $1089 for the exact same stay, after taxes. So, this is why most of the DVC members will tell you it's a huge waste of money to rent a resort room using your points.

I use this same process when I'm booking a room to justify the room I'm booking. If I want to stay at Disney's Old Key West it will cost me $988 for a studio or $2041 for a 1-bdrm for 7 days in September or to get a 1-Bdrm for 7 days at the Villas at Disney's Grand Floridian it will cost $3211 (in points, that is).

I feel that's the best way to justify the room that you're booking.

 

[SleighBelle]

As far as what other people have paid, look at the ROFR page. Tons of useful information there!

 

[MsTessP]

I like to assign a dollar amount to my points before making any type of a decision. I.E.:

You can get an average of $13pp to rent them (usually higher, but lets go with $13). Now, take that and apply it to the per points for a resort room. Art of Animation in September is at its lowest 30points per night. That's $390/night or a total of $2730 for a 7 night stay. If you book the Little Mermaid Room as just a room stay for the same dates, it costs you $139 per night or a total of $1089 for the exact same stay, after taxes. So, this is why most of the DVC members will tell you it's a huge waste of money to rent a resort room using your points.

I use this same process when I'm booking a room to justify the room I'm booking. If I want to stay at Disney's Old Key West it will cost me $988 for a studio or $2041 for a 1-bdrm for 7 days in September or to get a 1-Bdrm for 7 days at the Villas at Disney's Grand Floridian it will cost $3211 (in points, that is).

I feel that's the best way to justify the room that you're booking.

And don't forget to factor in the $95 fee and the annual dues paid on those points if you use points in this manner. Plus, many deep-discounts on those non-DVC rooms for different parts of the year and "free" dining are only offered when not using points.

I've never figured out why someone who has spent premium money on one of the most expensive timeshares would be willing to exchange those pricey points on a budget or moderate resort. However, if someone finds themselves driven to stay in a particular non-DVC resort, they can simply rent their points for the trip and use that cash to book. That way, they would receive the best value by far.

 

[_auroraborealis_]

And don't forget to factor in the $95 fee and the annual dues paid on those points if you use points in this manner. Plus, many deep-discounts on those non-DVC rooms for different parts of the year and "free" dining are only offered when not using points.

I've never figured out why someone who has spent premium money on one of the most expensive timeshares would be willing to exchange those pricey points on a budget or moderate resort. However, if someone finds themselves driven to stay in a particular non-DVC resort, they can simply rent their points for the trip and use that cash to book. That way, they would receive the best value by far.

That's why I say rent the points and book the value at the discount rate!

That said, if you're regularly looking to stay Value, DVC is probably not a great fit.

 

[Tlmb615]

I totally get that it is not a good idea to use them at non DVC properties. Thanks everyone for all of the input. I will keep you posted on what we decide to do.

Thanks again

 

[ziravan]

Monera Financial finances only DVC. No credit check but they do require electronic debit. Automatic approval in most cases.

I put in an offer and filled out application same day and same day Monera sent a pre approval letter to the Timeshare Store. Easy Peasy.

DVC is their business. They know it well.

 

[Tlmb615]

Monera Financial finances only DVC. No credit check but they do require electronic debit. Automatic approval in most cases.

I put in an offer and filled out application same day and same day Monera sent a pre approval letter to the Timeshare Store. Easy Peasy.

DVC is their business. They know it well.

That is really great to know. Thanks so much.

 

[Dean]

That is really great to know. Thanks so much.

For those set on financing, of the 3 I know of that are a potential option, lightstream will likely be cheaper than Monera or Timesharelending.net.