Getting closer, a few more ?'s about the first step into DVC

[Misty89]

Ok we are getting closer, and the down payment fund has been started.
I am wondering about the starting process, if you can indulge me

When i call my guide and tell him we are ready - what happens?
most importantly, when is the Down payment made/due?


Tina

 

[Misty89]

also,
we are shooting for Buying in December, ( hoping to call my guide on my birthday pressie to myself LOL) so we would have a December UY - how does that work with getting the current years points? we can get the 09' points right? then after Dec 31st, we would have 2010 points correct?
Would we have to pay the MF's on the extra 160 points? ( i hope that makes sense, we would buy before the end of the month, so i am assuming we will qualify for the current UY points right?)
Only wondering so then we know if we will need a little extra $$ to cover the MF's on the 09' points. finally, when would we pay the 2010 points?
If i am thinking correctly, we would pay the 09' MF's when we close, and the the 2010 MF's 2 months later ( Feb 2010?)
this is confusing, but i amtrying to keep it straight

thank you

Tina

 

[chalee94]

also,
we are shooting for Buying in December, ( hoping to call my guide on my birthday pressie to myself LOL) so we would have a December UY - how does that work with getting the current years points? we can get the 09' points right? then after Dec 31st, we would have 2010 points correct?
Would we have to pay the MF's on the extra 160 points? ( i hope that makes sense, we would buy before the end of the month, so i am assuming we will qualify for the current UY points right?)
Only wondering so then we know if we will need a little extra $$ to cover the MF's on the 09' points. finally, when would we pay the 2010 points?
If i am thinking correctly, we would pay the 09' MF's when we close, and the the 2010 MF's 2 months later ( Feb 2010?)
this is confusing, but i amtrying to keep it straight

UY month has nothing to do with when you buy. you can negotiate for the UY month you prefer, if it is available.

dec UY would receive pts starting on dec 1.

MFs are based on actual calendar year and have nothing to do with UY, so no, if you receive pts from the current dec UY (2008), you would not have to pay additional money if you buy in around dec 2009 and receive both 2008 and 2009 UY points.

if you don't read this thread to learn about what UY month means, then don't complain later... i really, really think you should read it.

 

[Sandisw]

As soon as you call your guide and tell them you want to purchase, you can negotiate your deal right then and they will take your down payment over the phone in that same call.

As far as UY, you can get the UY that best works for you, providing they are still selling points in that UY. I wanted June for my BLT add on and that is what I ended up getting.

With BLT, the first set of points come in 2009. If you are hoping for a December UY, then you will get your first set in December. For 2009, you will only pay, at most, 1 month of MF's with that UY (since the resort does not open until August).

This may also have been mentioned before, but if you have a Disney Visa, you can get 6 months interest free on your down payment.

Good luck!

 

[ssawka]

As soon as you call your guide and tell them you want to purchase, you can negotiate your deal right then and they will take your down payment over the phone in that same call.

As far as UY, you can get the UY that best works for you, providing they are still selling points in that UY. I wanted June for my BLT add on and that is what I ended up getting.

With BLT, the first set of points come in 2009. If you are hoping for a December UY, then you will get your first set in December. For 2009, you will only pay, at most, 1 month of MF's with that UY (since the resort does not open until August).

This may also have been mentioned before, but if you have a Disney Visa, you can get 6 months interest free on your down payment.

Good luck!

So does that mean that if you want a use year that is later than you call that you will have to wait until your use year arrives before getting any points? For example, I'm interested in an October UY and I'm real close to purchasing, does that mean I won't get any points until October?

 

[5forDiz]

So does that mean that if you want a use year that is later than you call that you will have to wait until your use year arrives before getting any points? For example, I'm interested in an October UY and I'm real close to purchasing, does that mean I won't get any points until October?

Depends upon the resort you want to purchase the points at.

Sandisw spoke of BLT which because it is newest yet to open will not allocate points with 2008 Use Year. So if you decided to pick BLT for your Home Resort your first allocation of points would be October 1 2009. However, that has no bearing upon when you may make your reservation ( you may always make a reservation as early as 11 months before the check-in date you would want at your Home Resort - so you can make a reservation today for a check-in at BLT as far out as 11 months away which would be on March 17 2010)

Also, no matter which resort you decided to purchase at the months of January, May, July & November are not Use Years. Available Use Years are Feb, March, April, June, August, Sept., October and December.

 

[ssawka]

Depends upon the resort you want to purchase the points at.

Sandisw spoke of BLT which because it is newest yet to open will not allocate points with 2008 Use Year. So if you decided to pick BLT for your Home Resort your first allocation of points would be October 1 2009. However, that has no bearing upon when you may make your reservation ( you may always make a reservation as early as 11 months before the check-in date you would want at your Home Resort - so you can make a reservation today for a check-in at BLT as far out as 11 months away which would be on March 17 2010)

Also, no matter which resort you decided to purchase at the months of January, May, July & November are not Use Years. Available Use Years are Feb, March, April, June, August, Sept., October and December.

Thank you, I was under the impression that we would be allocated points right away, but I guess not. We are looking to buy at BLT.

 

[hellerjw]

Even if you didn't get your first set of points until October 2009, you can book now for any dates after October 2009, up to 11 months out at your home resort. The UY is just there for cancelation deadlines and a marker to help you remember when your points "renew" each year. If your home resort will have units available for occupancy before October 2009 (AKV- Kidani for example) then you could borrow points from your Oct 2009 UY to stay after AKV opens May 1st.

 

[Crystal_27]

Thank you, I was under the impression that we would be allocated points right away, but I guess not. We are looking to buy at BLT.

Well, actually, you can use your points right away to reserve travel after August 4, 2009 (or whenever BLT officially opens). The day that we signed our paperwork, we were able to go ahead and reserve a 2 bedroom at BLT for September, 2009. So, your points are immediately available to you, but you just can't actually stay anywhere until after BLT opens (even in other resorts). That's the reason why the maintenance fees are prorated this year and are only due from August-December. Best of luck!

 

[Sandisw]

Thank you, I was under the impression that we would be allocated points right away, but I guess not. We are looking to buy at BLT.

The only reason that you will not with BLT is because they only started giving points in 2009.

So, yes, if you buy now and want an October UY, then your first set of points will come in October, 2009. Of course, you will only owe MF's for 3 months this year.

If you really want immediate points for BLT, then you have to choose a UY that is earlier in the year. If you bought today and asked for February UY, you would have immediate points, and then get the next set in February 2010.

It all comes down to how important UY is to your travel. For me, I did not want to be in a borrowing situation all the time so went with June because we travel in the summer (at least for now since I am a teacher) and that works out perfect.

If October really is the best for your situation, I would go with that and not worry too much about it. If you have some flexibility, then you might want to consider an early UY.

 

[ssawka]

The only reason that you will not with BLT is because they only started giving points in 2009.

So, yes, if you buy now and want an October UY, then your first set of points will come in October, 2009. Of course, you will only owe MF's for 3 months this year.

If you really want immediate points for BLT, then you have to choose a UY that is earlier in the year. If you bought today and asked for February UY, you would have immediate points, and then get the next set in February 2010.

It all comes down to how important UY is to your travel. For me, I did not want to be in a borrowing situation all the time so went with June because we travel in the summer (at least for now since I am a teacher) and that works out perfect.

If October really is the best for your situation, I would go with that and not worry too much about it. If you have some flexibility, then you might want to consider an early UY.

Thank you Sandisw. I was just curious because I thought that if I was getting points for this year I was considering what to do with them since I was not planning on going back to the World until after October, but I guess that's not an issue. Anyway, October works out best for us because even though I have a child in school, I basically refuse to go to Florida in the summer, which means in most cases we have to go during peak times, but oh well! DD(7) won't be in school forever! Our schools also tend to have quite a few "in service" days during the year.

 

[Sandisw]

Thank you Sandisw. I was just curious because I thought that if I was getting points for this year I was considering what to do with them since I was not planning on going back to the World until after October, but I guess that's not an issue. Anyway, October works out best for us because even though I have a child in school, I basically refuse to go to Florida in the summer, which means in most cases we have to go during peak times, but oh well! DD(7) won't be in school forever! Our schools also tend to have quite a few "in service" days during the year.

I think you are wise to choose a UY that works for you as being in a borrowing situation, IMO, is not a good thing.

We travel in the summer (I am a teacher and the airfare from Syracuse to Orlando during our break times is OUTRAGEOUS) so I really wanted June UY. Now my points will come right before we typically travel.

Good luck with your purchase!!!

 

[Misty89]

OP here,
I have that thread, more than a few times and it makes me more confused. I did not realize that UY did not coincide with when we purchased sorry i will get this sooner or later.
We want a december or February YU, as we will travel at NYE or spring break. ( I am a daycare teacher, and we have children in school that should not miss anymore, HS Senior and middle school)
So if i understand right, when i call my guide, i tell him i want either one for my YU and thats that? - will he ask me if i want the current year points or do i have to ask?

I also am hoping someone could expand on my first question, Once i call my guide and tell him we are ready, give him my Down payment, then what? I want to understand the proces so we are not confused. we will be doing everything by phone or snail mail. ( no plans to travel until we have our first trip "Home")


thank you

Tina

 

[chalee94]

We want a december or February YU, as we will travel at NYE or spring break. ( I am a daycare teacher, and we have children in school that should not miss anymore, HS Senior and middle school)
So if i understand right, when i call my guide, i tell him i want either one for my YU and thats that?

if you would be traveling over christmas vacation through spring break and summer (i.e. virtually never traveling sept through november), just tell the guide you want a december UY. that's probably best for your situation.

(a feb UY would be a poor choice if you plan on regularly traveling in late dec through january).

will he ask me if i want the current year points or do i have to ask?

if you are buying BLT, a december UY will not have any current year pts. there just aren't any.

otherwise, start the process a few months before the start of the new UY month (for a dec UY, call your guide around sept/oct) and go ahead and clarify whether you would be getting current year pts.

I also am hoping someone could expand on my first question, Once i call my guide and tell him we are ready, give him my Down payment, then what? I want to understand the proces so we are not confused. we will be doing everything by phone or snail mail. ( no plans to travel until we have our first trip "Home")

i believe you can put the downpayment on a disney visa if you have one, but i bought through resale, so i'm pretty useless here... sorry.

 

[Crystal_27]

I also am hoping someone could expand on my first question, Once i call my guide and tell him we are ready, give him my Down payment, then what? I want to understand the proces so we are not confused. we will be doing everything by phone or snail mail. ( no plans to travel until we have our first trip "Home")


thank you

Tina

Tina, once you call your Guide and tell him the number of points you want to buy, what incentive you want and, if you are financing through Disney, you will provide him your SSN and he will then check your credit and come back with the payment terms (i.e., monthly payment, when payment due, number of years financed, etc.). He will also give you the option of whether to pay your maintenance fees via direct debit or in one lump sum payment. Once you settle on your terms, you will be sent via FedEx your contract and closing documents. You will sign then and send them back. Your contract will have a tentative closing date and, at some point by the closing date, your deed will be sent to the county real estate clerk for recording. However, within a couple of days of having sent your signed contract documents back, you should be in the DVC system and be able to start making reservations. Hope that helps!!

 

[ThePecks]

Tina, once you call your Guide and tell him the number of points you want to buy, what incentive you want and, if you are financing through Disney, you will provide him your SSN and he will then check your credit and come back with the payment terms (i.e., monthly payment, when payment due, number of years financed, etc.). He will also give you the option of whether to pay your maintenance fees via direct debit or in one lump sum payment. Once you settle on your terms, you will be sent via FedEx your contract and closing documents. You will sign then and send them back. Your contract will have a tentative closing date and, at some point by the closing date, your deed will be sent to the county real estate clerk for recording. However, within a couple of days of having sent your signed contract documents back, you should be in the DVC system and be able to start making reservations. Hope that helps!!

I can second that! I just sent my paperwork back yesterday. I initially put my down payment for my contract. I got the paperwork, and read on here and made a call to Disney Visa...you get 6 mo at 0% for everything you purchase through DVC....down payment or the complete contract. I called back and put my complete contract on my Disney Visa since I planned on paying it off within 6 months. No need to pay 10% interest when you ca get 0%. Just a thought.

I'm glad we purchased, I'm in the system, but we can't come up with any dates to do "home" yet. My wife and I thought about going down over labor day and NOT taking the kids. But it is tough to find someone to watch 3 kids!

 

[Misty89]

Tina, once you call your Guide and tell him the number of points you want to buy, what incentive you want and, if you are financing through Disney, you will provide him your SSN and he will then check your credit and come back with the payment terms (i.e., monthly payment, when payment due, number of years financed, etc.). He will also give you the option of whether to pay your maintenance fees via direct debit or in one lump sum payment. Once you settle on your terms, you will be sent via FedEx your contract and closing documents. You will sign then and send them back. Your contract will have a tentative closing date and, at some point by the closing date, your deed will be sent to the county real estate clerk for recording. However, within a couple of days of having sent your signed contract documents back, you should be in the DVC system and be able to start making reservations. Hope that helps!!

Thank You

Tina

 

[kmaach]

I thought the 11 months is from check out date not check in date. That's what I read in my docs yesterday.

 

[chalee94]

I thought the 11 months is from check out date not check in date. That's what I read in my docs yesterday.

that used to be the case. they recently changed the rules. now it is 11 months from check in date - you can reserve up to 7 nights.

 

[lark]

I can second that! I just sent my paperwork back yesterday. I initially put my down payment for my contract. I got the paperwork, and read on here and made a call to Disney Visa...you get 6 mo at 0% for everything you purchase through DVC....down payment or the complete contract. I called back and put my complete contract on my Disney Visa since I planned on paying it off within 6 months. No need to pay 10% interest when you ca get 0%. Just a thought.

Hi -- do you happen to know the standard disney visa interest rate after the 6 months? Also, if you continue to have charges after the 6 mo. period, do you then have to pay interest on the whole initial balance? (Some credit card companies do that. In other words, you have to pay off the entire initial balance, and if you don't, you retroactively get charged interest for the entire amount, even though you paid it off. Usually not that much, though, since you paid it off quickly.)