If not too personal - how are the monthly payments like for DVC member w/points?

[djm99]

My husband and I were thinking about joining DVC (just ordered the DVD today). What are the monthly months like at the new Saratoga Resort (I think thats how its spelled)? It seems that SSR along with Old Key west are the least expensive. I really don't care which resort is my home resort - I just want to own one. What are the notes like? Is it really worth it month in your opinion? Your opinions please.

 

[RobDoc]

The answer to our question will depend heavily on the number of points you are financing and the amount of the downpayment made, plus the length of the repayment term.

Downpayments of 10%, 20%, 30% or 50% are the standard requirement. Finance options are 1yr (@5.95%) and 3 yrs, 5 yrs, 7 yrs or 10 yrs (@10.75%).

For 213 points ($17,800) with 20% down, the monthly payments would be $464.52 for 3 years, $307.84 per month for 5 years, $241.96/7 years or $194.15 for 10 years. Annual fees for those points would add about $65 per month to the payment.

I hope this helps.

Good luck with your decision.

 

[funcinderella]

We bought this past weekend, 210 total points, with the 15% discount.

Total cost without discount = 20,580

15% discount in the form of down payment = 3087
cash down payment = 4165

Total financed = 13,328 for 10 years

Used automatic debit for a rate of 9.75 % instead of 10.75% and the payment is 174.29 per month not including dues. Dues is another 67 per month.

 

[agotta]

I don't remember the terms of ours, and I did get a CM Discount, but we have 175 points and pay around $200 a month for our monthly payment AND dues.

 

[ClarabelleCow]

My husband and I were thinking about joining DVC (just ordered the DVD today). What are the monthly months like at the new Saratoga Resort (I think thats how its spelled)? It seems that SSR along with Old Key west are the least expensive. I really don't care which resort is my home resort - I just want to own one. What are the notes like? Is it really worth it month in your opinion? Your opinions please.

We didn't finance, but on 260 Wilderness Lodge points, the maintenance is about $95.00 per month.

 

[Jen D]

Here are some numbers for Saratoga Springs. with 10% cash and 15% discount applied toward the downpayment. All are at 10 year financing, and 9.75% interest (the interest rate with direct debit.. If you don't direct debit it is 10.75%.

1) 150 points. Pay $1470 in cash down. The amount financed is $11,025, so the monthly payment is $144.17. Dues are $47.83/month if paid monthly, so you're looking at $192/month.

2) 175 points. Pay $1715 in cash down. Amount financed is $12,862, and monthly payment is $168.21. Dues are $56.month, so your total is approx $224/month.

3) 200 points. $1960 down. $14700 financed. $193/month + $63.77 dues = $256.77/month.

A couple things--

Dues will probably go up slightly next year.

Most people, if they can't swing the 1 year financing plan at a reduced interest, choose 10 years, because the interest is the same whether you choose two years or ten. You can still pay it off early without penalty, but if you have a tight month you're locked into a lower payment commitment.

 

[kjm4]

Thanks Jen D. You broke it down very nicely for us non spreadsheet users.

 

[spiceycat]

call DVC - they will assign you a guide. the guide will be happy to send you or fax it.

one sheet with all the information on it.

automatic draft gets a discount - so be sure to tell her/him if you are going with automatic draft.

It is almost painless.

 

[Jen D]

Thanks Jen D. You broke it down very nicely for us non spreadsheet users.

Heh, I can't take any credit; I left a message for my guide asking for a numbers breakdown at 150, 175 and 200 and she left this on my voicemail.

Glad it helps!

 

[djm99]

Here are some numbers for Saratoga Springs. with 10% cash and 15% discount applied toward the downpayment. All are at 10 year financing, and 9.75% interest (the interest rate with direct debit.. If you don't direct debit it is 10.75%.

1) 150 points. Pay $1470 in cash down. The amount financed is $11,025, so the monthly payment is $144.17. Dues are $47.83/month if paid monthly, so you're looking at $192/month.

2) 175 points. Pay $1715 in cash down. Amount financed is $12,862, and monthly payment is $168.21. Dues are $56.month, so your total is approx $224/month.

3) 200 points. $1960 down. $14700 financed. $193/month + $63.77 dues = $256.77/month.

A couple things--

Dues will probably go up slightly next year.

Most people, if they can't swing the 1 year financing plan at a reduced interest, choose 10 years, because the interest is the same whether you choose two years or ten. You can still pay it off early without penalty, but if you have a tight month you're locked into a lower payment commitment.

Thank you very much!!!! I'm waiting for the DVD to come - The 200 points are affordable. For 200 points can you give me an example of where I can stay for how long. My DH and I are both teachers (don't hold all the typos against me) - so we have summers/spring break (usually mid - end of March) and of course Christmas Break off. Would 200 points allow my family some vacation time during our breaks or would I need more points? My in-laws and I were even thinking about getting points together and share the cost. Is this something that Disney allows - multiple owners of points.

 

[cobbler]

djm99-
It really depends on what kind of accomodations you want and for how long and at what resort.

I will give you both a week scenario (Sun - Sat) as the weekends are more points and the other scenario of just Sun - Thurs in a one bdrm and a studio

March
Studio Su-Th Studio week 1bdrm Su-Th 1bdrm week
SSR = 65 123 135 243
BCV = 70 134 150 270
VWL = 70 134 150 270
BWV(std) = 55 111 120 222
OKW = 55 109 110 218

June, July and the first 15 days of August are the same

Dec 24-31 are more

 

[djm99]

djm99-
It really depends on what kind of accomodations you want and for how long and at what resort.

I will give you both a week scenario (Sun - Sat) as the weekends are more points and the other scenario of just Sun - Thurs in a one bdrm and a studio

March
Studio Su-Th Studio week 1bdrm Su-Th 1bdrm week
SSR = 65 123 135 243
BCV = 70 134 150 270
VWL = 70 134 150 270
BWV(std) = 55 111 120 222
OKW = 55 109 110 218

June, July and the first 15 days of August are the same

Dec 24-31 are more

Wow, Friday and Saturday take up that many points. Thanks for the break down. Thats why I see so many Sun-Thurs "weeks" on Ebay - too many points to give up!!!

 

[Jen D]

djm, you can click on the DVC point charts at the top of this page... this will give you the point breakdown for all resorts.

 

[funcinderella]

Thank you very much!!!! I'm waiting for the DVD to come - The 200 points are affordable. For 200 points can you give me an example of where I can stay for how long. My DH and I are both teachers (don't hold all the typos against me) - so we have summers/spring break (usually mid - end of March) and of course Christmas Break off. Would 200 points allow my family some vacation time during our breaks or would I need more points? My in-laws and I were even thinking about getting points together and share the cost. Is this something that Disney allows - multiple owners of points.

Yes they do allow up to 6 people as owners on the contract. (We just did it with 5 people.) Everyone on the contract is considered a member. Plus, everyone in the members household is allowed to get the AP discount (up to I think 6 people per household.) We have three households involved.

 

[THESCHULTZFIVE]

My husband and I were thinking about joining DVC (just ordered the DVD today). What are the monthly months like at the new Saratoga Resort (I think thats how its spelled)? It seems that SSR along with Old Key west are the least expensive. I really don't care which resort is my home resort - I just want to own one. What are the notes like? Is it really worth it month in your opinion? Your opinions please.

Hi, after receiving our first bit of information probably 2 years ago, Dh and I just bought in (our closing Date is dec 28th, 2 days before my 30th birthday to me). Don't wait as long as we did. We never even saw the inside of SSR. We only saw it on the boat from our resort to Downtown Disney and I was convinced(love at first sight )! For us, I definitely think it's worth it. although we only bought 150 pts for now, I know we will be buying more probably soon. Good Luck in making your decision.