Free vacation with DVC purchase?

[sistertrip]

Can anybody tell me the details of the offered free vacation with a new DVC purchase? We are interested in purchasing DVC and would make a decision sooner depending on what this "free vacation" consists of. Thanks!

 

[tjkraz]

If you buy SSR now, the points you purchase cannot be used until at least March 2005 due to the construction schedule.

To compensate for that, DVC will give you a set of Developer's Points, which is a fancy way of saying you'll still get an additional set of points for 2004 (must be used by 9/30/05) to be used at any resort OTHER than SSR.

Those Developer's Points represent the "free vacation."

 

[Shelby5514]

We just purchased 175 pts at SSR and we choose the "free vacation. Since we were already planning a Spring 05 vacation we knew this would be worth more than the $10/pp. Our use year is Dec and our points are not avail until Dec 05. Our 175 Developer points are good now thru Sept 05. We have booked 2 Studios at BCV for 6 nights. I don't think we could have booked 12 nights at BCV for $1750, even with a code. This will use 170 of our 175 points so we will only end up losing 5 pts. as these can not be banked.

Shelby5514

 

[sistertrip]

So, Shelby5514, you purchased the 175 development points separate from your DVC purchase?? How is this a free vacation, or am I confused?

 

[tjkraz]

Originally posted by sistertrip
So, Shelby5514, you purchased the 175 development points separate from your DVC purchase?? How is this a free vacation, or am I confused?

Shelby5514 purchased 175 points with a December '05 Use Year. She doesn't get her first set of SSR points for about 16 months.

DVC then gave her 175 "Developer's Points" to use for a trip between now and next September. These points are a one-time "gift", if you will. She will NOT get 175 additional "Developer's Points" in 2005, 2006, etc.

The other promotion being offered is that you can take a flat $10 per point off of the purchase price, bringing the price down to $85 per point. If Shelby5514 had chosen this promotion, she would have paid $85 per point, but would not have been able to make any DVC stays until at least 12/05.

 

[Shelby5514]

Your "Free Vacation" is basically an equal # of points to what you purchased. If we had purchased 200 pts. we would have gotten 200 developer pts for our "free vacation." These points have to be used by Sept 05 at any DVC resort except SSR. It was also my understanding that we could have split them up for multiple trips as long as both trips were before Sept. 05. We are taking friends with us so that is why we choose 2 studios at BCV. The $1750 I refer to is what the $10 per point discount would have been if we did not choose the free vacation.

Shelby5514

 

[sistertrip]

Aha - I get it. You have the choice between the $1750 off the purchase price or the points to use before the regular points are available. I do have one more question; two weeks ago a DVC representative said that prices start at about $14,000. Do you know how many points that would be? Also, what type of yearly extra fees are involved with DVC? Thanks! [I guess that was two questions - sorry]

 

[tjkraz]

DVC has a minimum purchase of 150 points. The base price is $95 per point. If you take the Developer's Points, you pay $95. If you take the $10 off per point, you only pay $85 per point, taking your initial cost down to $12,750.

DVC will finance the purchase themselves if you wish. You need to put at least 10% down, and they can finance for up to 10 years. The lowest interest rate you can get on a 10-year loan is 9.75% at last report.

If you have the resources, you can probably obtain a home equity line to finance yourself for about half of that interest rate.

Once that initial investment is paid off, your only recurring charge are your Annual Dues (aka Maintenance Fees). Right now that runs $3.80 per point at SSR. You can pay that in one lump sum every January, or you can schedule it as a direct debit where 1/12 of the fees are deducted from your bank account each month. The monthly payments are kinda nice because they don't charge anything extra for this service. It's kinda like having an interest-free loan.

There are no resort taxes or other fees due a check-out. In fact, unless you charge food or souvenirs to your room during your stay, you will have NO BILL at checkout.

Another nice feature is that some of the fees are tax deductible. A portion of your annual dues go toward property taxes on the resort. Those dollars are typically deductible on your federal taxes. And if you finance the purchase through DVC, the interest paid is usually tax deductible.

 

[Winksst]

DVC representative said that prices start at about $14,000. Do you know how many points that would be? Also, what type of yearly extra fees are involved with DVC?

Buying at SSR through DVC, it is $14,250 for 150 pts (DVC's minimum) at $95 per point.

The annual dues are $3.80 per point or $570 per year for 150 pts.

HTH,
Wendy

 

[Shelby5514]

Well said tjkraz...

Another thing... Our payments don't start until June 05 and the maintenence fees don't start until we get our points Dec 05.
So this Spring Vacation will really seem "free"!!!

Shelby5514

 

[sistertrip]

Is there a website where I can see exactly what the points would get me for a vacation?

 

[DebbieB]

Originally posted by Shelby5514
We just purchased 175 pts at SSR and we choose the "free vacation. Since we were already planning a Spring 05 vacation we knew this would be worth more than the $10/pp. Our use year is Dec and our points are not avail until Dec 05. Our 175 Developer points are good now thru Sept 05. We have booked 2 Studios at BCV for 6 nights. I don't think we could have booked 12 nights at BCV for $1750, even with a code. This will use 170 of our 175 points so we will only end up losing 5 pts. as these can not be banked.

Shelby5514

So when do you start paying dues on those points? December 05?

 

[Shelby5514]

We don't have to pay any yearly dues until Dec 05 when we actually get our first points. Our payments on the purchase start in June 05.

Shelby5514

 

[Shelby5514]

Originally posted by sistertrip
Is there a website where I can see exactly what the points would get me for a vacation?

At the top of the page there is a DVC Points Chart

http://www.wdwinfo.com/dvc/DVCpoints.shtml

and a DVC Points Calculator

http://www.wdwinfo.com/resort/dvcpoint.cfm


Shelby5514

 

[manning]

We don't have to pay any yearly dues until Dec 05 when we actually get our first points.

The total is worth more than 1750 dollars.