Help!!!

[Reno]

I recently bought 320 points at BLT and think that maybe I shouldn't have bought it.

The going rate is 112$/point however with the incentives, we paid 107$ point plus we got a 7 day cruise (worth supposedly 8000$)

We will most likely be coming back to Disney very rarely (one or twice in the next ten years). We enjoy the Caribbean. Our sales person told us that we would have excellent trading power with RCI considering that we are Disney.

I have read different threads and read that if we don't travel to Disney very often then we are paying too much for our timeshare considering that we want to travel outside of Disney.

Despite the above, we really have confidence in Disney, they come across very organized and efficient. The resorts that they offer with RCI are splendid. Also, from what I see, the value of Disney properties do not lose that much in resale in comparaison to other property ownerships.

In consideration of the above, I don't want to cancel but should I?

Reno

 

[CPTJAK]

Based on what you have stated I would say that yes you should cancel.

You should go here and read up on timeshares as for what you want to do you can do better (Marriott/Hilton/Starwood/Wyndham/Worldmark/Hyatt) all have timeshares that if bought resale will a lot less than DVC ($3000 to $14,000 total for 2 bedroom every year) and will trade as well if not better.

Go here and read: http://www.tugbbs.com/forums/

 

[CPTJAK]

After you cancel, you may decide to buy a smaller DVC contract for your DVC stays...but for trading there are much better and cheaper methods...definitely cancel.

 

[disneynutz]

Despite the above, we really have confidence in Disney, they come across very organized and efficient. The resorts that they offer with RCI are splendid. Also, from what I see, the value of Disney properties do not lose that much in resale in comparison to other property ownerships.

In consideration of the above, I don't want to cancel but should I?

Reno

Cancel before it's too late. DVC is not for you based upon your travel patterns.

Disney may seem organized and efficient and they put on a good front, but sadly I have found them to be like most other companies. Many feel that the RCI offerings are a down grade compared to the company that they used a couple of months ago.

Members selling now are losing thousands per contract as compared to a year ago.

 

[Deb & Bill]

I'll echo the comments. DVC isn't for you. Contact them immediately and cancel your purchase.

 

[CarolA]

CANCEL TODAY!

DVC is overpriced for what you need!

 

[Tozzie]

Cancel, you are not guaranteed to get the trade you want.

 

[JimMIA]

Under Florida real estate law, you have 10 days from the time you sign the purchase agreement (not make a deposit or offer) to cancel. It's called the recision period. Your cancellation is non-negotiable and you get all your money back.

 

[thepops]

I'd say cancel and if you want, get enough points resale to cover going every 3 years (Ok that would be 3x in 10 years vs. your two, but that's close) and get something with more trading power.

 

[december14disney]

Who was the guide that heard this information and told you DVC was still a good match?

Cancel.

 

[Dean]

Under Florida real estate law, you have 10 days from the time you sign the purchase agreement (not make a deposit or offer) to cancel. It's called the recision period. Your cancellation is non-negotiable and you get all your money back.

In some cases the 10 days is extended if certain paperwork (like the POS) isn't delivered at signing or before.

Reno, DVC is an extremely poor choice for your situation. Not only is it a VERY expensive choice, many other choice will actually trade much better and give you more and better options than will DVC. For once every 5 years or so, you shouldn't own DVC even for a small contract.

 

[Brian Noble]

Rescind, rescind, rescind. As Dean points out, DVC may well be the worst timeshare possible for your needs.

 

[JSTX]

I agree with what everyone else has said.

We own both DVC and Marriott. I would never suggest that someone purchase DVC if their main intent was to trade through RCI. I think the number of points required to trade a week with RCI is too high - when you compare the cost per point and what it gets you at WDW.

I agree that DVC runs a good operation. But the value in what they are selling is really for those who choose to visit WDW on a regular basis. If that is not what you planned, I agree with the other posters that their are much cheaper options on the market if you want the flexibility of trading through RCI.

Also, another thing to keep in mind. DVC only gives the ability to trade to a selected group of RCI properties that they have picked. So you may not even be able to trade to the places you want to visit. Whereas with the typical timeshare that is affiliated with RCI, or even Interval International (which is Marriott), you bank your week from your home resort into RCI and then go to RCI and decide what you want to trade it for.

We love our DVC membership, but we purchased with the intent of using it at DVC. For us, if we want to trade a week, we will trade one of our Marriott weeks.

Good luck with your decision. DVC is great, but it doesn't sound like it is the right option for you based upon what you described.