Has the exchange rate put you off buying DVC?

[suzycute]

We have 100 SSR points and loved our first stay there in October this year in a studio. However we saw the Bay Lake Tower model at SSR and DH, (who did not want to buy in to DVC initially) really liked it.

We had a letter from DVC this week to say that minimum buy in for Bay Lake will be 100 points after 15th January. I would love to buy enough points to stay there for 3 or 4 nights every other year so don't need 100 - more like 30ish (depending on when we go - normally off peak times). However the exchange rate is far worse than when we bought our initial points.

Has the exchange rate put you off buying DVC or would you go for it anyway??

 

[paulh]

when we bought we bought because we loved disney and dvc was a perfect means of staying at disney.we bought in 99 think price was $58 a point and rate was $1.60 to pound.did all the maths to see if good for us from $1 to pound and up.We would only advise people to buy to do the same.the £ will go up and down all the time.we bought points to cover going 2 weeks a year using banking and borowing.we have 200 points and we have always managed to pay our dues and i personly put aside a £1,000 per year to pay them.last year wa £500 this year think around £650-£700.like all things itsalways advisable to only buy if you can afford it.the £ at $2 was a great oppertunaty for people to buy but i think quite a few wouldnt have factored in the long tearm in rate declined.the rate at moment is around the average its been for the past 20 years so if anyone buying or adding on take notice.that being said an addon for us has never been an option as the amount of points we have has always been right which we got in the first place.and with the new add on min being 100 points,makes it a complete no no from now on
Paulh

 

[tubtruck]

I was going to add on at another resort probably BLT, but at the present £ to $ rate we will not be going ahead. If the rate improves again in the future we will reevaluate but for the time being we intend to stick with just our SSR contract.

 

[wilma-bride]

We were going to add on at BLT but, with the current exchange rate, it just does not make financial sense for us.. With the minimum add-on increasing to 100 points in january, I suspect my dream of owning at BLT will never make it to reality

 

[penlanspice]

Our intentions were to add on when BLT went on sale (it's been in the rumor mill for years and knew it would come around) but the $$ has most definitely made us hold off, if the dollar gets better during the next year or so we will definitely be buying.

If your worried about the number of minimum points for the add on I wouldn't worry to much, DVC are well know for the promotion ending etc, then something else comes along, I'm sure they won't keep the minimum buy-in at 100 points.

 

[TinkTatoo]

I'm glad we bought into BLT when we did as the exchange rate would affect my decision to add on there in the near future.

 

[Minniespal]

Thankfully we bought into BLT when we did before the dollar went into freefall. Think thats us finished our DVC purchases, well until DVC in Hawaii or California becomes a reality

 

[Halo]

One should look at ones finances overall - not just at the exchange rate. We added on at BLT in the Summer at roughly $2 to the £1 - buying 103 points. I think it cost us $11,021 or say £5,500. The same points today would cost us say £7,900 - or £2,400 more. HOWEVER our UK (tracker) mortgage rate has fallen substantially in the same period. Base rates have fallen from 5% to 2% (with 1% forecast for January). The current 3% fall would equate to a saving of £3,000 per annum on every £100k of mortgage borrowing for those with tracker mortgages. It is the fall in interest rates which has driven the £ down so much. Yes DVC has become more expensive as a result of the change in fx rates but fortunately a lot of people like me will have been compensated by the fall in our mortgage rates.

 

[wilma-bride]

One should look at ones finances overall - not just at the exchange rate. We added on at BLT in the Summer at roughly $2 to the £1 - buying 103 points. I think it cost us $11,021 or say £5,500. The same points today would cost us say £7,900 - or £2,400 more. HOWEVER our UK (tracker) mortgage rate has fallen substantially in the same period. Base rates have fallen from 5% to 2% (with 1% forecast for January). The current 3% fall would equate to a saving of £3,000 per annum on every £100k of mortgage borrowing for those with tracker mortgages. It is the fall in interest rates which has driven the £ down so much. Yes DVC has become more expensive as a result of the change in fx rates but fortunately a lot of people like me will have been compensated by the fall in our mortgage rates.

We're on a fixed rate so no saving for us there - shame as I could have used that as leverage to persuade DH to go ahead with the BLT purchase

 

[Stuart D]

I'm in the same boat. We're on a fixed rate deal as well but I have to say I think even if we weren't I wouldn't buy into DVC at the moment.

I had planned to add on points this year but I'm going to sit tight because of the exchange rate. We'll just wait an extra few months before going on our next holiday and bank and borrow to get the property we want. Perhaps if the exchange rate recovers in two years time we'll add on then but for the time being I'll console myself by working out just how much more my points are worth now than they were when I bought them. Renting our points certainly looks more attractive right now.