first year points = credit?

[apm]

We just received the DVC video, and it mentions using all or part of your first year points to receive a credit (presumably towards your downpayment?).

Can anyone explain how this works? If we bought 350 points, and used them all for the credit the first year, how much cash would that equal?

Thanks!

- Andy

 

[wdeversole]

Currently it's $5 per point at VWL, not sure about HH or VB, and it is applied toward the down payment.

 

[mickey7861]

Also, when we purchased Magical Beginnings was only available for 1/2 your first years points except for VB where you could sell back all of them. Not sure if this is still the case but if it is your selling back of the 350 points wouldn't work.

 

[Karen097]

We just did magical beginings and sold back all 150 of our points. We bought into VWL.

 

[KathyR]

I just wanted to say that $5/pt is not a good deal at all!!! It used to be $10/pt, and that was at least fair. You can rent your points for $10/pt or more, so giving them away for $5/pt just seems like a rip to me! That is just my opinion, but I know it is the opinion of most here as well. Your points are far more valuable than that!!! I would either keep them for yourself or rent them out after closing.

 

[Richyams]

KathyR speaks truth.

Unless you absolutely need help with the downpayment, it truly is an awful deal.

 

[chris1gill]

Not only is it a bad deal, but you have to pay dues on those points you sell back!! If you sell them for 5, you still need to pay 3.68 (or whatever the dues) back to Disney!! MB is really a bad deal.....

 

[Karen097]

Oh well....at least it helped us to put the 20% down. Can't win 'em all. I am just happy to be a member.