Help!!! Did I make a mistake?

[ELMC]

So, if i am understanding this correct. If I purchased through resale - I am not able to use my points to stay at RCI resorts (I would have to pay cash?).

No. If you purchase through resale you may still trade through RCI.

 

[keaster]

So, if i am understanding this correct. If I purchased through resale - I am not able to use my points to stay at RCI resorts (I would have to pay cash?).

Resale points can be used for booking the RCI and Intrawest resorts.

Resale points CANNOT be used for DCL cruises, Adventures by Disney, other non-DVC Disney resorts, or the Concierge Collection.

 

[DannysMom]

So, if i am understanding this correct. If I purchased through resale - I am not able to use my points to stay at RCI resorts (I would have to pay cash?).

No that is incorrect. Resale points can be used to trade into RCI. But, many owners will say it is not the best use of your points (direct or resale) to get the best value out of them.

 

[chalee94]

So, if i am understanding this correct. If I purchased through resale - I am not able to use my points to stay at RCI resorts (I would have to pay cash?).

if you purchase a resale, you ARE able to trade your pts to stay at RCI resorts.

you would generally have to pay a $95 fee to trade out of the DVC system and RCI trades typically cost 160 pts for a week in a 1BR or 270 pts for a 2BR (subject to availability.)

 

[arpasquajr]

So, if i am understanding this correct. If I purchased through resale - I am not able to use my points to stay at RCI resorts (I would have to pay cash?).

No, you can use points for RCI. But you cannot use points for I believe Cruises, Adventure collection, Concierge collection.

 

[julefish3]

Ok ... this might be a dumb question ...
What is the difference between the RCI resorts and the non-DVC resorts???? I thought the DVC resorts are - WDW, Cali, Hawaii, Vero Beach, and Murtle Beach ... and the non DVC resorts were the others listed in the booklet as RCI properties ?????????

 

[chalee94]

Ok ... this might be a dumb question ...
What is the difference between the RCI resorts and the non-DVC resorts???? I thought the DVC resorts are - WDW, Cali, Hawaii, Vero Beach, and Murtle Beach

hilton head SC, not myrtle beach. it's a little farther south past charleston SC.

also, DVC resorts at wdw are only the villas, not the disney hotel rooms (like the poly).

... and the non DVC resorts were the others listed in the booklet as RCI properties ?????????

there are lots of different types of non-DVC resorts. most of the non-DVC options are RCI.

there is also a concierge collection, which includes the hotel del coronado near san diego (101 pts per night for an ocean view room here in standard season) and grove park inn in asheville NC.

there's also adventures by disney tours, which tend to run about 500 pts per adult for roughly a week's guided tour of an area (germany/costa rica/etc.)

you lose the concierge options and adventures by disney tours if you buy resale. you'd also lose the option to take a disney cruise on pts or trade pts for a stay at the poly or port orleans (for too-high point costs).

but RCI and intrawest trades are still an option for resale owners. but you need to do your homework as a few of the trades are a decent value but most are not.

 

[grimgrinnin]

Ok ... this might be a dumb question ...
What is the difference between the RCI resorts and the non-DVC resorts

It's not 'non-DVC resorts', it's 'non-DVC Disney resorts'. That is to say, Disney resorts that are not DVC like Pop Century and the Polynesian. Those cannot be reserved with DVC points if you buy resale, but can be by buying direct.

 

[keaster]

Ok ... this might be a dumb question ...
What is the difference between the RCI resorts and the non-DVC resorts???? I thought the DVC resorts are - WDW, Cali, Hawaii, Vero Beach, and Murtle Beach ... and the non DVC resorts were the others listed in the booklet as RCI properties ?????????

The DVC resorts are the ones listed in WDW (AKL, BCV, BWV, BLT, OKW, SSR, WL), Grand Californian at DL, Aulani in Hawaii, Vero Beach, and Hilton Head (not Myrtle Beach!)

Non-DVC resorts are the other WDW and DL properties that don't have a DVC component (like the Polynesian, Port Orleans, Caribbean Beach, Disneyland Hotel, etc.)

RCI properties are available all over the world (I believe DVC members have access to around 500 properties.)

 

[DougEMG]

Buy DVC if you want to stay at DVC.

Buy direct if you want to trade for Cruises, Adventure collection, Concierge collection or if you want the fast and easy convience of buying from Disney.

Buy resale if you want to save money and don't mind waiting a couple of months to get your points.

Both resale and direct can trade into RCI resorts. If you want to do a lot of trading in the RCI system with more selection and at a cheaper price, buy a different timeshare. Dean is the local expert on all things to do with RCI

I have a lot of DVC points and I think it is really great for my needs, which is staying on site at a Disney resort.

 

[marie1981]

I also didn't think resale was the way to go b/c I read that you can't use your DVC to travel to non disney resorts if you bought on the resale. (?) And as I mentioned I would like to travel all over the world on the RCI network using my DVC points. But again people on here are saying that it isn't worth it. Isn't that the whole concept behind "banking" points in "the world." (i.e. so you can travel all over).
?

Presently, when you buy 'resale', you can still do RCI exchange.

As per the Member site:

Under the new policy, Members who purchase from anyone other than Disney Vacation Development, Inc., on or after March 21, 2011, will not be eligible to use those Vacation Points to make reservations within the Concierge Collection, the Disney Collection or the Adventurer Collection. Those Vacation Points will instead be valid only for reservations at Disney Vacation Club resorts, as well as for RCI® exchanges, Club Cordial and Club Intrawest

 

[AJA]

I'm not arguing, and I'm certainly not an attorney (accounting girl here ) but in your post you said you were not even clear about MF fee's? I find that so hard to understand that you totally 100% understood your contract, but you skipped over everything about the need to increase MF fee's on an ongoing basis?

You can use resale points to travel the world with RCI. -no cruising (not a good use of points from the numbers side of it anyway) no members cruise, no Concierge collection or Adventure collection.


For me, knowing Disney can take away ANY added bonuses to the points, rather DIRECT or RESALE in the future makes me want to get the most for my money now. I can always rent the Disney points, use that cash to make my own cash reservation anywhere at anytime around the world....and still save money.

AKL Resale is around $60-$65 per point? -if "I" paid any more it would not be a good investment for me personally because at the end of the day my points are worth EXACTLY the same as someone who paid double to buy direct, meaning legally for the life of the contract I could use those points to book a vacation at Disney's Animal Kingdom Lodge in Orlando Florida. -that is all that is a guarantee for anyone no matter how your purchase.

ETA: We love Disney, if we can't get a good discount (again numbers can rule my life, even when I don't want them too!!) then we stay in a moderate. Buying DVC is a way for us to get a deluxe location for about the same out of pocket expense as a moderate.

As others have posted, a small contract is not enough to trade out anywhere on a regular basis, for most families they will need hundreds if not thousands of points to take the vacations alluded to in the Disney Adventure collection.

For me knowing I can rent my points at $10 per point, if I have 200 points, I can turn that in to $2K and use that $2K toward my cash reservation anywhere in the world because 200 points would not get a great value (in trade out value) for where my family would like to vacation.

Resale does take time and time is money. If you have to have points NOW then direct might be a good choice. If you have at least 3-4 months before you need to check availability for your next vacation then resale can save 30-40% or more.

 

[disneynutz]

Here are my suggestions/observations:

Use your points for vacations at DVC resorts.

Buy where you love to stay to guarantee your 11th month advantage.

Buy the correct UY to give you more options should you need to cancel a vacation.

Expect to pay a few thousand dollars each vacation in addition to your purchase price and yearly dues. (dues increase 3%-8% per year, 15% max)

Contractually Disney can change every rule and policy except your right to stay at your home resort. They have changed several in the past few years.

Disney is in the business of selling DVC Timeshares so they will stretch the truth and change the rules to favor direct purchases.

Rent a reservation from a owner or buy resale if you want to save money.

Bill

 

[permavac]

Lots of good information here OP and I won't focus on your first post, which I agree made me think backing out would have been the best choice for you with all your doubt and confusion.

I think the best way to think about this is with the question, "Why would I (a DVC owner) recommend someone else buy into DVC?". Knowing what I know now, I personally feel that the best answer in recommending someone buy into DVC is:

- If they want to vacation on-site at Disney every year (or at the least every other year) and optimize the dollars that they spend doing that
- They always want to stay in Deluxe Villa accommodations and they don't want (or at least don't mind not having) daily housekeeping
- They are comfortable being locked into paying the yearly (and ever increasing) maintenance fees for some 30+ years and knowing that their initial investment upfront could potentially be degraded year after year (i.e. resale value) until it is essentially worth $0

The above, in my mind, is the financial answer. The people who buy in based on actually trying to lessen their annual cost whilst staying deluxe will win here.

Now, with that said, there are so many OTHER reasons that people bought DVC and are still happy that they bought DVC because of those reasons. Some people want to upgrade their accommodations (I did), some just want to "own" a piece of the magic, some like the ability to bring extended family members without breaking the bank, and some just have that kind of money to buy it without any regret - regardless of how or why or even if they use it . If you weren't looking to save money by buying DVC and, by using those other "collections" that they offer for your points, don't mind paying a little extra for your non-DVC trips, then you will probably be very happy with your purchase. If you were looking to save money, then DVC is not the best idea for trading out of the DVC network.

Terri

 

[Brian Noble]

My standard answer with any timeshare purchase is, "If you have even the slightest doubt about the wisdom of your purchase, RESCIND."

This, exactly. When the rescission period ends, the value of your AKV purchase will drop by something between 1/3 and 1/2. So, you want to be absolutely sure that you bough the thing that is right for you, because if you sell it, you will be selling at a non-trivial loss.

Timeshare is a product that is not bought. No one wakes up of their own accord and thinks "Today, I will pay tens of thousands of dollars to obligate me to pay for the upkeep and operation of a portion of a luxury condo." Instead, timeshare is *sold*. You are on vacation, having the time of your life, and someone promises to bottle that vacation magic "at today's prices." So, you jump. Who wouldn't?

And, for many people, timeshares are really really wonderful. I own three, and each one has been a great purchase that I've never regretted. But, I've never regretted it because I did a LOT of research before purchasing any of them, and I bought them all resale so I knew I was getting a fair price.

And, it's clear that you are probably not yet in a position to know whether or not this timeshare purchase is right for you. From your original post, you do not yet seem to know that DVC points are really only best used on DVC lodging. You do not yet know that, yes, annual fees are likely to increase each year. You do not yet understand how Use Years, baking, and borrowing work. These are all things you absolutely must understand before you can know if this is a purchase you will enjoy for decades to come, or regret and dump at a loss. And, this observation is spot-on:

I find that so hard to understand that you totally 100% understood your contract, but you skipped over everything about the need to increase MF fee's on an ongoing basis?

So, my advice is rescind. Do your homework. Find out whether DVC is really right for you, and if so what resort, size package, use year, work for you---and, whether or not it makes sense to buy on the secondary market (hint: it probably does.)

If at the end of that process--which is going to take at least many weeks, but probably a few months---you decide that you want 120 AKV points with a February Use Year purchased directly from Disney, you will be able to get that. It might cost a few more dollars two months from now than it does today, but that extra cost will be worth the certainty that you are spending this money in the right way.

 

[k3chantal]

I just want to know why you all love this club ... the negatives on here are really troublesome to me ... i.e. no dining plan perks, no park passes ....etc. Why did you all join and why are so many people so happy. I have been told by so many "this was the best decision I have ever made for my family" ...why????????

I am happy with my direct purchase of AKL (280 points a year; paid in full immediately like you; absolutely does not make any sense to me to finance this) because now that the major part of the money is spent I can go on incredible vacations without having to use actual cash 'yearly' for my accommodations. For the cost of my yearly dues, I get resorts I would never justify reserving if I was paying cash. I would stay at moderate resorts if we did not have DVC. But with DVC, I feel 'free' to 'upgrade' my stay by staying at the deluxe resorts. Over the course of time, the points to stay at these resorts are not suppose to change dramatically (they do shift around) so it should be more cost effective since these resorts are going to be more expensive over time to stay paying cash.

Over the course of a 24 month period with my dues for two years being $3000, I have been to Disney World (AKL savanna view two bedroom; six nights), a 7 night Disney Wonder cruise staying in two adjoining port window room, and used my points to go to Kauai, Hawaii and stayed in Princevalle. The price of the accommodations for all of these trips would have 'cost' a lot more if I made reservations and paid cash for them.

There is a lot of negativity on this site specifically about purchasing a membership direct. I did not know about this website when we bought and it never occurred to us that there was a resale market for timeshares. We now know. But for us, it still makes sense that we bought direct because we can use our points for 'other' vacations. And for every 'argument' that this is not a smart way to use our points, it works well for us and we intend to go on more vacations this way.

Have fun; don't 'read' into the negativity too much. It is just their opinions and you are certainly welcomed to use your membership any way you wish.

 

[Brian Noble]

the negatives on here are really troublesome to me

Someone else upthread already made the point, but here's why these discussions can often be so blunt. A Guide's job is to sell timeshare. A Guide's job is not to figure out whether timeshare is right for the person considering the purchase. And, a DVC purchase simply won't be right for everyone. Reading over the thread, I am not reading "DVC is bad." Rather, I am reading: "DVC can be great, but it doesn't work for everyone and here is why you might or might not feel good about buying it."

I did not know about this website when we bought and it never occurred to us that there was a resale market for timeshares. We now know.

Almost everyone active at TUG (the Timeshare User's Group) and similar sites bought from the developer---some of them more than once. They are some of the most passionate fans of timeshare you'll ever see, and most of them will tell you that even their developer purchases are ones that they have enjoyed and have been "valuable".

True, if they could do it over again, they'd buy on the secondary market instead, even when resale owners don't have all of the options or perks that a retail owner does. And, those perks are almost never worth what it costs to obtain them, because they are paid for out of the Developer's coffers---they developer needs to ultimately charge at least as much as they are worth, and usually will charge more to make it work. But, once the rescission period ends, you can't go back and do it over, so these folks have decided that as it is water under the bridge, they may as well go on vacation and enjoy it.

But, in the OP's case, the rescission period has not expired. And, until it does, it is worth asking some serious questions about whether this purchase was the right one. If the OP rescinds but ultimately decides it *was* the right purchase, they are probably going to be able to get the very same deal from the very same Guide one or two months from now---at worst, the price will go up slightly. That's not a big risk. The risk of not rescinding a purchase that turns out to be a bad fit is much bigger.

 

[DizBub]

I don't think you are making a mistake. You can afford it and if you want it, go for it. You got a decent incentive/deal. It's your money and it's no one else's business how you spend it. Of course, resale is cheaper. This is why people were telling you to rescind and you owe it to yourself to at least know what it is you are buying into.

No negativity from me. For us, it's a dream come true. Unlike other timeshares, we are only restricted by our lack of points. We bought direct a few years ago at BLT and added on direct a year later. Currently buying resale at BCV. The savings are worth it to us. We want to go to WDW at least 3/4 times a year, for at least a week each time. Also want to treat family at least once a year. Would like more points even now. It's just what WE do. We also just back from Colorado and we go other places too, just aren't world travellers. In our case, it is the best $ we have ever spent.

 

[a742246]

Going back to your orginal post. Why do I like DVC?

To put it simple.

It makes me feel like we have an upscale second home. We usually go for 3 weeks a year and for those 3 weeks we refreshen ourselves. Disney is not a stressful vacation for us.


I believe DVC would be a good fit for you, especially since you have stressful careers. The last thing you need is a stressful vacation.

Anyway, good luck in whatever you decide.

 

[julefish3]

Thank you all for your replies. This has really been helpful and I appreciate all of your opinions.

That being said, I locked into a price last friday and am STILL waiting for my fedex'ed contract. SO my 10 days hasn't even begun and that's why I "didn't skip over the MF portion of my contract." I will read it thoroughly and I'm sure I will have a greater understanding of everything.

I think one of the last posts made it very clear to me ... I, too, would like the freedom to use my points however I want. If I am doing this, then I am going for it and want no restrictions. We had the money in a vacation fund, and from what I gather, after three trips (Spending like we normally spend) we will break even and still have 40+ years of trips to take!

I also don't like to be scammed, which is my hestiation. Don't mess with a consumer protection attorney!

One more question, as I am intrigued by this resale market, if I bought more points on the resale market can I combine them? I vaguely recall reading that they can't be combined for certain things?