Help please on purchase of DVC - we are in 10 day window

[Matty B13]

You will need to buy 50 points minimum for a new contract at any resort. You can "add on" 25 points to a resort you already have a contract at with the same UY.

 

[Matty B13]

If you were buying a OKW contract with a Feb UY you would get 2017 points, if you bought a June, August, September, October, or December UY contract you would get 2016 points.

 

[KAT4DISNEY]

Obviously I need to do a lot more research on the subject so I may have to cancel this contract - oh my the dreaded phone call. I don't want to pay for more than what we need.

I did wonder if the annual pass option as a DVC owner would help offset any discounts we lost not being direct members.

You deal with Quality Assurance for cancelling - you won't have to talk to your guide and it shouldn't be uncomfortable at all. They may just ask why but that's it. The instructions on how to rescind the purchase should be in your paperwork so really only a follow up would even be necessary. Don't worry about that at all - it's pretty easy as it needs to be or it wouldn't really be a cooling off period.

 

[KAT4DISNEY]

Thanks for all the help here and I'm going to read some more - may run the math again and throw out the 50 option then later add an additional 150. DH thought 150 would suit us better for two trips. Is there a waiting time that before we could purchase the additional points.

Also, one last thing, was that the contract we purchased included 2017 points available and that "seemed" like a big deal with the Feb renewal year.

EVERYTHING can be turned into a big deal by a timeshare sales person.

I'd also recommend resale first. Use it for a bit and decide if it's all fine for you without direct points. If you decide to add on direct then DVC will match it up to your UY and once you are an owner (that's all it is - ownership of a timeshare. You'll find the Club isn't so much) you can add on as few as 25 points.

Why OKW though? Have you lots of experience there and want to always stay there? I still caution against that resort because of the mix of end dates and the dues make it more expensive too. If it's where you love and want to stay that's one thing but if you plan on trying to stay everywhere there are better options.

 

[JETSDAD]

We just purchased at AKV this spring and bought most of what we wanted resale and then added on with 25 pts direct. This is the most cost effective way to get the points you want while also gaining the perks (if they will benefit you).

 

[disneynutz]

You should take the time to become an educated buyer. Which resort is your favorite, what are the DVC rules and policies, what is UY, banking, borrowing, busy times, availability, dues cost, dues increases, perks, management?

All of these are discussed weekly when buyers just like you post that they just bought. Take the time to scan the posts and then you will know if DVC ownership is for you.

Rescind your purchase to give you the time that you need.

Bill

 

[Nana2Callie]

Thanks and we will resend the purchase - the main factor in choosing Old Key West was the price point. I do appreciate all the comments and will be a regular here asking questions until we figure all this out.

 

[MamaBelle4]

Thanks and we will resend the purchase - the main factor in choosing Old Key West was the price point. I do appreciate all the comments and will be a regular here asking questions until we figure all this out.

If price was the main factor, may I suggest checking out SSR? It gets a bit of flack on here for not being as themed or as close as the mono rail resorts, but I absolutely love it and it's proximity to Disney Springs.

I'm happy you decided to rescind and think you'll be very happy with whatever you choose!

 

[miTnosnhoJ]

For less than you paid for OKW Direct, you could get the same number of points at Grand Floridian resale. Or for much less, you could get into other resorts. Be sure to buy a place where you love to stay, (or at minimum, where you don't mind staying) because the popular resorts at popular times get booked up before the 7 month window comes around.

 

[KAT4DISNEY]

Thanks and we will resend the purchase - the main factor in choosing Old Key West was the price point. I do appreciate all the comments and will be a regular here asking questions until we figure all this out.

When you start looking at resale then there are suddenly a lot more resorts (like almost all of them) that are within the same or a far lower price point than OKW direct.

You will want to spend some time considering where you want to stay - ie if it's a particular resort and you can book closer to 11 months out vs 7 months then you probably want to look at buying there. But if you can't book more than 7 months out then buying the most economical makes sense because at that time all points are equal for use. When you plan to go can also have an influence on where you buy or how you plan to use DVC. For example if you want to go in the last quarter of the year it's much more difficult to stay at locations other than your home resort - especially in studios - because it's a very popular time for DVC members to visit WDW. Other times of the year though it's easier to book other locations.

 

[supersnoop]

Your guide will be more than happy to sell you a contract next week or next month or next year. If you're unsure, rescind the contract and get educated. You aren't losing anything by waiting a few weeks.

 

[DisneyRegulars]

As a resale buyer you also won't be able to use your points for Disney cruises, or adventures by Disney or for the regular Disney hotel rooms. All not very good uses of points, so no real loss, but the salesmen will make it sound like a big deal.

I would also recommend SSR in place of OKW. It's basically the same location, but walkable to disney springs, and two great pools with two fun water slides.

 

[ELMC]

Lots of great advice here. I'll add that I also feel that you should rescind and take the time to learn as much as you can. In the end, you may make the same exact purchase that you originally made. However, at that point in time you will be making it with confidence instead of having the questions and doubt that you have now. Good luck with the process. Take your time, it doesn't make sense to rush a 30 year purchase because of one upcoming vacation.

 

[Dean]

There are cases to be made for direct purchase, but if you're only concerned about the perks and not sure if you will use them, then you might be better off with a resale contract if you can find what you're looking for on the market with points for your next trip.

Other than VERY small contracts there is not a case to be made for OKW, SSR or AKV retail, maybe for some resorts and maybe for 50 or less points total.

Obviously I need to do a lot more research on the subject so I may have to cancel this contract - oh my the dreaded phone call. I don't want to pay for more than what we need.

I did wonder if the annual pass option as a DVC owner would help offset any discounts we lost not being direct members.

It seems you've made your decision but the answer in this situation is always the same. If you're not very educated on the matter, cancel and get educated if you can. The retail options will always be there and likely for the same or possibly less. This can easily be a 5 figure issue on 125 OKW points or very close to it.

 

[thelionqueen]

Thanks and we will resend the purchase - the main factor in choosing Old Key West was the price point. I do appreciate all the comments and will be a regular here asking questions until we figure all this out.

All good points made already. Rescind as you have planned and read through as many posts here as you can. For an example, I'm in the process of buying 100 OKW points for $65 a point with double points (if I pass rofr). The same contract (less extra years if they were included) would cost me $14,500 from Disney direct. Simple math = $8,000 savings, more than twice as much buying from the mouse!

 

[frank808]

You will need to buy 50 points minimum for a new contract at any resort. You can "add on" 25 points to a resort you already have a contract at with the same UY.

Actually once you are member, you can add on direct at any resort dvc has points for sale. Now they mfight want to keep you in the same use year but there have been exceptions