Full-court press

[Needs Motivation]

OK, for those that have been helping me today, I need another blitz, a full-court press if you will, as I try to weaken DW's defenses. I just got done letting her review my thought-provoking threads and your most excellent responses, and while I may not have her on the ropes, at least she's not rolling her eyes at me while walking out the door. A few more questions to humor her:

1) Does anyone have any success stories using DVC points anywhere other than WDW? She's picked up on the WDW die-hards and wonders if anybody vacations anywhere else.

2) Can anybody let us in on interest rates being used if we finance through DVC?

3) How do people finance is going through a resale broker?

I need you guys to come strong. Thanks.

 

[pirateparrot]

Originally posted by Needs Motivation
OK,
1) Does anyone have any success stories using DVC points anywhere other than WDW? She's picked up on the WDW die-hards and wonders if anybody vacations anywhere else.

2) Can anybody let us in on interest rates being used if we finance through DVC?

3) How do people finance is going through a resale broker?

I need you guys to come strong. Thanks.

I am about the same place you are in the decision process and will likely buy SSR during my October visit. I will see what I can do on these questions.

2) Disney's financing is 9.75% if you select automatic payment. I think it is 1% higher if you don't use autopay. Disney treats these like mortgages (secured loans) thus may be tax deductible as a second home depending on your personal tax sitiation.

3) Many people use Home Equity loans to finance for resales. From my research, I found one company that specializes in timeshare financing. http://www.tammacfinancial.com This company lends on an unsecured basis and I think their rates start aroung 11.%% (not deductible).

Hope that helps.

 

[Richyams]

The Plaza in NYC during Christmas in a room over looking Central Park was kinda nice.

We used points to cruise back when Disney had The Big Red Boat, also nice.

AKL concierge was real nice.

Poly concierge was also real nice.

We have been members since '92, other than that, all our points have been spent at WDW DVC resorts.

Success stories? These weren't success stories, they were just call and make a reservation. Really kind of simple, almost mundane.

 

[Happy Birthday Cat]

After reading your other post, the fact that you are still in the game is a good sign.

Does anyone have any success stories using DVC points anywhere other than WDW?

Yes. I have stayed at the Sagamore Resort but have also rented out my points and used the cash to stay at the Woodstock Inn. In the case of the Sagamore, the points were worth more than $10.00 each by making the reservation through them and at the Woodstock Inn, they were worth less, so I rented the points, took the cash and paid for the stay. How many timeshares can you say that you can do that with? I have also done this for the cruise.

Can anybody let us in on interest rates being used if we finance through DVC?

Financing through Disney is not a great deal percentage wise but they don't report to credit agencies and the interest can be tax deductable. I think it is around 9% or 10% but am not sure.

How do people finance is going through a resale broker?

Most seem to use a home equity loan or one of those really low credit card rates.

Good luck.

HBC

 

[djnrook]

We used points for our Honeymoon in EuroDisney (now DisneyLand Paris). It was the only way my wife could get me to go to France, since all DLP employees must speak English. A simple train ride and you are in Downtown Paris - Notre Dame, The Louvre, Eiffel Tower, etc, and then at night you are back at DLP where folks speak the laguage I am most familiar with!

My sister (also a member) swapped points for a week skiing in Whistler, BC. She said is was the best skiing she ever experienced, and the most beautiful ski resort she had ever visted. They raved about how esay the transaction was, though it did take a week or so before they were confirmed to get the dates they wanted.

 

[flexsmom]

Home Equity Line of Credit - 3.73% for the first six months and 5% thereafter. Far beats Disney financing, in my opinion.

Best of luck! I was in the same boat, but DH is coming around (he came around enough to sign the closing docs and I expect to seal the deal once he walks through the door our first time in a 2BR OKW villa!)

 

[DebbieB]

I have a friend who has points at HH and VWL, bought on a special HH incentive stay in 2000 and has only been to a DVC resort once since (OKW in 2001). They have traded out to Lake George, New Orleans and recently Key West.

 

[Zurg]

I would do a home equity loan if you can much better rate and (see you tax advisor) since it is secured by primary residence deductable.

 

[disneycrazed139]

Disney also offers the option of putting 50% down and paying off the loan in 1 year at around 5% interest.

 

[pod2314]

Maybe this will be helpful-

We bought our DVC membership through resale, and used a home equity loan (so we can write off the interest). We went through BBT bank, and they allow us to just the interest for which is set at the prime rate. It is a 5 year loan, but we will be selling our house and moving in the next three years, so that will satisfy the loan balance.

As far as using the points for other than DVC resorts, last year spent Thanksgiving in NYC using the Concierge Collection (Shelburne Murry Hill hotel) and enjoyed it so much, we are repeating it again this year. We are also on a wait list for an exchange through Interval International for the Weston Resort, St Johns for this summer.

 

[doubletrouble_vb]

Went to the claremont...didn't like it. My brother used it to stay at a small B&B and felt it was great in terms of a romantic get away. I don't remember the name...it was near Dover, VT.

 

[psu1978]

I finally have my DH talking about the subject! He is a hard sell. He's not one to go to Disney every year, but loves the offerings in the Concierge Collection and the fact that you can rent by the night. He also likes the fact that you are not tied into a particular week like other time shares. Here is the thing...is it feasible to plan a Disney vacation every other year and use Concierge Collection in between.

From your posts it sounds like it is not to difficult to book the CC. How far in advance can you get ressies? How about the other U.S. hotels offered through the World Passport Collection. I know that you have to book for a week, but how hard are they to get and how far in advance can you book?

Biggest question...since the exchange points change on all the Member Getaways location, will we still be able to get anything in 10 or 20 years, or will Disney Resorts be the only viable option?

Thanks for the info.

 

[GrammieMame]

I used my points to stay 12 nights at Kapalua Bay Hotel in Maui, and am giving my son a week in Aruba in December at the Marriott Ocean Club.

 

[dianeschlicht]

WE exchanged for a week in Hawaii last year, and it was only 180 points for a 1 week exchange to the Kona Coast Resort in a 1 bedroom with 2 baths. That is on the Big Island of Hawaii, and is our favorite island. We had friends who did an RCI exchange for the adjoining week on Kauai, so the 4 of us had two weeks of timeshare exchanges and then we stayed another 4 nights on Oahu at the end of the trip and one night at the begining. The great thing was, that with it only costing 180 points, we were still able to vacation in WDW for 9 nights in a 2 bedroom as well that year! Most will tell you exchanges are not the best use of points from DVC, but I can tell you it was a fairly easy exchange even for a difficult to trade into Hawaii.

 

[Lisa P.]

Posted by psu1978: Here is the thing...is it feasible to plan a Disney vacation every other year and use Concierge Collection in between.

Yes. It's not usually a good value, rather it's an option to add occasional variety or use points that would otherwise expire. But for frequent usage, there are usually other, less costly ways to get the non-DVC vacations than using DVC points.

How far in advance can you get ressies?

It'll vary by season and where you want to go, rather like any hotel reservation program. (I'm speaking here about the Concierge Collection.)

How about the other U.S. hotels offered through the World Passport Collection. I know that you have to book for a week, but how hard are they to get and how far in advance can you book?

These are timeshares. They become available as owners deposit them with the exchange company, II. It's good to make your request very early (over a year ahead) and be patient. You're mostly likely to match closer to your travel date, perhaps 4-6 months ahead of check-in. Some prime weeks at prime locations are very difficult to secure (ex., major holidays at Marriott resorts).

Biggest question...since the exchange points change on all the Member Getaways location, will we still be able to get anything in 10 or 20 years, or will Disney Resorts be the only viable option?

The only absolute assurance is at your home resort. It's extremely unlikely that any of the DVC properties would ever leave the DVC program, so that's close to assured. All other options are subject to change. It's also highly unlikely that they would be eliminated without something else taking their place.