From In-Park Kiosk to Purchase: What to Expect, What to Watch Out For, What to Know

[The Rivers' Rats]

Does anyone know how many points we have to buy for GCV to become a founding member. And... what does being a founding member actually entitle you to?

The founding member status entitles you to purchase at GCV prior (not sure how long the time frame will be) to those members who bought outside of DL. Our guide indicated that DVC fully expects that GCV will be the first property that is sold out prior to being offered to the public. Between the members who receive the founding member status (and have the first opportunity to purchase) and the remaining members in DVC who can purchase after that, they assume that the property will be bought up rather quickly.

Being the first (and at this time only) DVC property on the West Coast, they anticipate the demand for this property being rather high. Her advice was for us to buy a lower amount for AKV and then purchase the remaining points that we wanted once GCV becomes available. She said that this will be one resort where having the ability to book 11 month out may make the difference between getting what you want or having to settle for a regular hotel room.

Not sure whether the information will hold true or not, but being that our family goes to DL far more than WDW we couldn't help but follow her advice and will be jumping on the opportunity to add points at GCV when they become available.

 

[thesupersmartguy]

Glad I was able to help! Sadly no, there are no incentives for paying cash except not having to make those monthly payments and 10 years of interest.

Hope all goes well for you,

Super.

Super,

This was EXACTLY the answer i was hoping for from the fantastic people on DisBoards! Lots of folks have encouraged me to make an appt directly with the DVC Sales Center at DLR instead of going to a kiosk.. so I may do that instead, and just arrange for transportation from GCH where we are staying.

One other question for you or anyone else; Do you get anything extra or better for paying cash instead of finanacing? I realize that Disney is making far less off of me by paying cash then if they got to collect interest from me for 10 years, but with other purchases there are sometimes cash incentives.

Thanks

 

[DVC_Corrys]

Watch out for those interest rates!!!!

At 10 years at 10.75% on a BLT min (160 points for $17920 less $800 incentive) purchase you would pay $10,889.42 in interest if you only make minimum payments. This assumes a monthly payment of $233.41 (based on the simple interest calculation).

Even adding $66.59 a month (total monthly payment of $300) helps a ton. You pay off your loan in 6.5 years and pay only $6,959.97 in interest.

I reccomend bankrate.com and use their loan calculator to play around with your budget.

 

[sdlipton]

DVC Corrys,

Even if we did finance, it would only be for a couple of years so that i can utilize the interest and property tax deductions to offset some income gains in 2009 and 2010. Additionally, given a conservative average of 5% money return (standard high balance savings account returns/money market returns/non-DJIA indexed funds), my out of pocket interest cost on those dollars is actually only about 5.75%. Nevertheless, I would have no intention of paying for all 10 years.

That being said, I appreciate your comments as alot of other people may not have the same realization.