Impulse buy - what questions do I need to ask before my 10 day window expires?

[disneynutz]

Most of us knew that you would go through with it. 95% of the newbies do so you are not alone.

Bill

 

[DopeysGal82]

But now you are making an informed decision based on your situation and priorities after a great deal of input. Best wishes

Thanks! I can't tell you all how much I appreciate it. I see a lot more of a downside, but I feel better knowing it going in, than having Pixie Dust in my eyes and being shocked later

 

[Mtnman44]

One last attempt to help.

Right now, there is a 200 point contract for Boardwalk Villas (which I believe you mentioned you would perfer) listed with an asking price of $66 per point (timeshare store). I think you could successfully offer lower. It has 196 current year points and the full 200 comming on Oct 1. This is identical to what direct from Disney offers in terms of fully loaded contract (full current years points). You could pick this up for less than $14k and have a very valuable location in terms of 11 month window, possibly more valuable than even BLT in terms of current demand trends. Find a resale 160 point contract to save even more.

BLT direct from DVC for $140 per point and only 160 points (not 200 points) will cost you $22,400 plus some closing costs. So you could save $8,400 today and have 40 more DVC points to use every year. Remember what the $8,400 is really worth over the life the contract if invested rather than thrown away on DVC's ridiculous prices. Hint: sock that saved money away for 25 years at 5% and you'll have well over $27,000.

 

[lovin'fl]

One last attempt to help.

Right now, there is a 200 point contract for Boardwalk Villas (which I believe you mentioned you would perfer) listed with an asking price of $66 per point (timeshare store). I think you could successfully offer lower. It has 196 current year points and the full 200 comming on Oct 1. This is identical to what direct from Disney offers in terms of fully loaded contract (full current years points). You could pick this up for less than $14k and have a very valuable location in terms of 11 month window, possibly more valuable than even BLT in terms of current demand trends. Find a resale 160 point contract to save even more.

BLT direct from DVC for $140 per point and only 160 points (not 200 points) will cost you $22,400 plus some closing costs. So you could save $8,400 today and have 40 more DVC points to use every year. Remember what the $8,400 is really worth over the life the contract if invested rather than thrown away on DVC's ridiculous prices. Hint: sock that saved money away for 25 years at 5% and you'll have well over $27,000.

Good suggestion. I saw 150 points at HHI a couple weeks ago that was going for $44/point. OP didn't want HHI, but she could definitely save some big bucks by going resale. It's worth it IMO.
Edited to add: looks like the HHI contract sold, but there are BWV contracts in the $60s.

 

[DopeysGal82]

One last attempt to help.

Right now, there is a 200 point contract for Boardwalk Villas (which I believe you mentioned you would perfer) listed with an asking price of $66 per point (timeshare store). I think you could successfully offer lower. It has 196 current year points and the full 200 comming on Oct 1. This is identical to what direct from Disney offers in terms of fully loaded contract (full current years points). You could pick this up for less than $14k and have a very valuable location in terms of 11 month window, possibly more valuable than even BLT in terms of current demand trends. Find a resale 160 point contract to save even more.

BLT direct from DVC for $140 per point and only 160 points (not 200 points) will cost you $22,400 plus some closing costs. So you could save $8,400 today and have 40 more DVC points to use every year. Remember what the $8,400 is really worth over the life the contract if invested rather than thrown away on DVC's ridiculous prices. Hint: sock that saved money away for 25 years at 5% and you'll have well over $27,000.

I'm the bargain hunter, and my DH will NOT hear of purchasing resale, esp since we need to finance some of it. He's a member of a credit union though, and he's done unsecured loans through them in the past, so maybe that would be an option. We're really bad. We finance everything, which I know is a terrible, terrible thing, but we tend to do that only with 0% or low interest rates to allow us more short-term liquidity.

I was telling him we can wait until this time next year, sock away $10K easily (considering we already put up a $2400 DP) and then buy a 100 point BLT resale for $100 pp in cash. He doesn't want to hear it!

If we purchase at any time before March 31, 2011 and ask for an August use year, would we still have all of the 2011 points to keep? The sales guy made it seem like getting 2011 points was a perk of buying right then bc otherwise we'd get a Feb 2012 use year and no 2011 points. From what I've read though, they're willing to be flexible on UY if it closes the sale. Maybe I can convince DH to cancel the sale for now and look into a personal loan to buy resale if I can assure him that we can get the same deal a month from now.

If only I hadn't gone to the bathroom at the GF that night, none of this would be happening. LOL!
(Forget the fact that I have our next 2 year of vacations already planned out).

Is there a site that has detailed info including room photos of each resort to help you choose? I'm guessing I'd like BWV better because it just looks so gorgeous there and it has such easy access to EPCOT and DHS. Then again, for the years when we have little kids, the MK access at BLT (and monorail -no stroller folding) access to EPCOT as well will be priceless.

 

[DopeysGal82]

Oh my stubborn DH. He keeps getting calls from me at work like "They said.." and he knows that "they" means the magical message board people.

I said "How about we buy a resale, and save $8K, and we can finance it thru the credit union"

Nope.

He s totally against resale. He's worried about future restrictions on resale members etc. He said "What if you didn't know about the resale market? Would you still think it's worth it?" "Umm I guess so".

Ahh....

Welcome me to Bay Lake Tower, please!

 

[taaren]

Welcome me to Bay Lake Tower, please!

HOME!
You'll love your membership, and look at it this way ... when you realize you don't have enough points (as we all eventually do), you can add on more resale.
I still recommend having your guide break the 160 point contract into two while you can ...

 

[Deb & Bill]

One thing to know about the BWV. None of the two bedroom villas are dedicated. They are all lockoffs.

One other thing to tell your husband. The only thing you are guaranteed is to be able to stay at your home resort. There is no guarantee that even if you purchase direct from Disney that you'd be able to cruise or use the other Disney Collection, you'd be able to book outside of DVC, etc. DVC could even sell it to another timeshare company.

 

[thebigman65]

Don't Worry!....Be Happy!.....and Welcome Home!!

 

[Mtnman44]

Ask your DH to write out the actual purchase prices of the two options. For 160 points, you are looking at your Direct BLT purchase to cost somewhere around 8k to $10k more, depending on your resale resort choice.

Now, have him list out the extra benefits that $10k is getting you.

-extra points? nope. this is a sales twist. everyone gets the current UY points when they buy. Resale can be different, but if it is important, just buy a contract that has current year points intact.

-DVC collection trades? yes. Buying direct allows these trading options (which can still be taken away from the DVC program, are not guaranteed, cost $95 to make a reservation, and cost a lot more points than they are worth (more than DVC villas!). does paying Disney $10k for this benefit sound like a great deal?

-Easy financing? Buying direct does offer that and at the lovely rate of nearly 11%! Does paying Disney an extra $10k now seem like a good deal in order to get this great financing.

-Buying direct is a bit faster and easier and you get that wonderful magical feeling. Is it worth the $10k to you? (over the life of the contract, you are really looking at over $30k of value to you lost, time value of money and all).

-Your guide (salesperson) will be happier and like you more.

Ok, so add up what you are ACTUALLY getting with your extra money. Is any of that worth $10k more upfront which is actually worth over $30k+ to you in about 25 years.

Oh my stubborn DH. He keeps getting calls from me at work like "They said.." and he knows that "they" means the magical message board people.

I said "How about we buy a resale, and save $8K, and we can finance it thru the credit union"

Nope.

He s totally against resale. He's worried about future restrictions on resale members etc. He said "What if you didn't know about the resale market? Would you still think it's worth it?" "Umm I guess so".

Ahh....

Welcome me to Bay Lake Tower, please!

 

[Mtnman44]

I'm understanding more and more why Disney is expanding the DVC program, even in a so called recession. It's a good money maker.

 

[burnsoc]

At this point you've done your research and presented other options to your DH. You now get the all access, unlimited use of the "I Told You So" should anything happen in the future. One more recommendation for you, if you decide to rent some points, make him do it. It might teach him a lesson in dealing with salesmen and that it's easy to say "rent it on ebay", not as easy to do. I noticed you're from Queens, me too. Born in Flushing and lived in Forest Hills for many years. Oh yeah... Welcome Home

 

[DopeysGal82]

I have definitely reserved the right to play the "I told you so" card.

I really hope it doesn't come to that. I hope we have many many happy years of vacation and maybe he'll "tell me so" when we're relaxing on a beach in one of the trade off locations.

He really wants this. If it were 100% up to me, I'd cancel and spend some time looking into the resale market now that I know about it, but I'm going to cave to DH on this one. He really wants it, and he left a job he liked a lot more to make more money, and if this is how he wants to spend it, I'll let him. I'm going to enjoy it as much as he is!

No more worrying. On to planning!

 

[thebigman65]

I have definitely reserved the right to play the "I told you so" card.

I really hope it doesn't come to that. I hope we have many many happy years of vacation and maybe he'll "tell me so" when we're relaxing on a beach in one of the trade off locations.

He really wants this. If it were 100% up to me, I'd cancel and spend some time looking into the resale market now that I know about it, but I'm going to cave to DH on this one. He really wants it, and he left a job he liked a lot more to make more money, and if this is how he wants to spend it, I'll let him. I'm going to enjoy it as much as he is!

No more worrying. On to planning!

Don't know if you were worrying near as much as Mtnman44 but enjoy your planning, it's one of the funnest parts of the whole thing!!

DVC is there to enjoy....no matter how you get there!

 

[Mtnman44]

Just trying to help. I just don't understand the logic of paying so much more for exactly the same thing. Oh Well. I tried my best. I'm still not sure if the OP's DH understands that resale is not some cheaper version of DVC, it is exactly the same thing. The same contract that someone else at some point bought directly from DVC. Same membership, same fees, same booking windows, same ownership terms, etc. The ONLY difference is a small restriction on trading your ponits out for the Disney Collection stuff which was done specifically for sales to be able to scare people into paying the developer price.

I tried my best to convince the OP to at least recind now and look into it further. They could always purchase direct in a couple weeks having lost nothing. If they investigated even a little, they would find that there is nothing about a Direct Purchase to justify paying soooo much more (especially $140 for BLT that is not even their perferred resort !) but oh well.

Welcome Home!

P.S. We actually bought our SSR contract direct from DVC. At the time, with a "referral incentive" it was about $5 per point more than the going resale price. Would I have paid $60 to $70 per point more than the going market rate? I'll give you one guess.

Don't know if you were worrying near as much as Mtnman44 but enjoy your planning, it's one of the funnest parts of the whole thing!!

DVC is there to enjoy....no matter how you get there!

 

[lovin'fl]

Welcome home!!! BLT will be wonderful. I loved staying at the Contemporary and REALLY want to try BLT someday. Congrats and enjoy!!!

 

[paults]

cancel now and wait til 2013 and buy in at the GRAND FLORDIAN VILLAS FOR about $ 175 a point maybe more

 

[DopeysGal82]

cancel now and wait til 2013 and buy in at the GRAND FLORDIAN VILLAS FOR about $ 175 a point maybe more

Don't tempt my husband. Maybe I can get him to buy 300 points at GCV and do it at the standard, rather than preferred financing rate..you know, since we're throwing money away and all

 

[DopeysGal82]

Just trying to help. I just don't understand the logic of paying so much more for exactly the same thing. Oh Well. I tried my best. I'm still not sure if the OP's DH understands that resale is not some cheaper version of DVC, it is exactly the same thing. The same contract that someone else at some point bought directly from DVC. Same membership, same fees, same booking windows, same ownership terms, etc. The ONLY difference is a small restriction on trading your ponits out for the Disney Collection stuff which was done specifically for sales to be able to scare people into paying the developer price.

I tried my best to convince the OP to at least recind now and look into it further. They could always purchase direct in a couple weeks having lost nothing. If they investigated even a little, they would find that there is nothing about a Direct Purchase to justify paying soooo much more (especially $140 for BLT that is not even their perferred resort !) but oh well.


Welcome Home!

P.S. We actually bought our SSR contract direct from DVC. At the time, with a "referral incentive" it was about $5 per point more than the going resale price. Would I have paid $60 to $70 per point more than the going market rate? I'll give you one guess.

I'm with you. I have a slight preference for direct, so I think paying a few dollars or $10 more pp is reasonable. My DH WILL NOT HEAR anything about resale. I am also but at this point I'm going to just go with it.

I read a lot. in fact, I spent TOO much of my vacation reading articles in tiny print on my phone. I have played devil's advocate with my DH 100x. He really wants to do this. Maybe it's an early midlife crisis or something. It's better than a motorcycle. It's not dangerous and we can both enjoy it.

I'm going to have one last "ARE YOU SURE" convo with him and make sure he understands we're really not getting anything by buying direct, and also go over how many points we actually need and after that just bask in the and start planning vacations. What else can I do????

ETA: I'm sure all of the married/LTR people can relate to a time when your spouse is being slightly irrational whether it's a big or small thing and at some point you just say "OK, this makes you happy, so I'm gonna go with it"...That's kind of where I am with this. Although honestly I'm still reeling because while I always expected to do DVC I thought it was far in the future when we're rich and wearing sweaters around our necks and calling people "my good man"... not for when we're living in at apartment in Queens and refusing to buy cereal unless it's on sale. LOL

 

[DopeysGal82]

What's a referral incentive? At the time I couldn't think of anyone who I was sure was a DVC member so I put no referral. Now I have several people asking me to add them (Not sure if I can since I already signed a "no referral" thing). Is there any incentive for me to do this? What's the incentive for the existing member?