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

[DopeysGal82]

Is there a chart that shows when/where the 11 and 7 month windows begin?

Is there REALLY no fee to change or cancel?

 

[disneynutz]

Hubby keeps telling me don't worry about it, we can afford it, and it's going to be great to have priority on such a great location. Actually the salesman was pushing 100 points at SSR. Maybe because we're younger, or because he sensed my nervousness, he pitched the cheaper option.


Are there any downsides to splitting it into two contracts?

How does points rental work? I have been reading on the board you can only transfer points in or out per use year, so does that mean that if I decide to rent out points, and then change my mind, I can't turn around and rent points from someone else if I run a few short?

Can you still borrow from a future year if you have rented out points?

You have some great questions and so much to learn. Cancel the deal now so you can take your time to learn, learn, learn.

DVC can be a good thing and it can be a very expensive mistake if you don't fully understand what you are getting into.

When the rescind period is over you can't back out without selling at a several thousand dollar loss. Better to cancel now and buy again latter.

Bill

 

[DVCismyhappyplace]

I don't know of a "chart" but here's the simple explanation:

Today is 12/13/11. If you wanted to take a trip on 11/13/12 (11 months), you could book a stay at your home resort. If you wanted to stay at a resort other than your home resort, you'd have to wait until 4/13/12 (7 months) to book.

 

[DVCismyhappyplace]

You have some great questions and so much to learn. Cancel the deal now so you can take your time to learn, learn, learn.

DVC can be a good thing and it can be a very expensive mistake if you don't fully understand what you are getting into.

When the rescind period is over you can't back out without selling at a several thousand dollar loss. Better to cancel now and buy again latter.

Bill

 

[DopeysGal82]

I don't know of a "chart" but here's the simple explanation:

Today is 12/13/11. If you wanted to take a trip on 11/13/12 (11 months), you could book a stay at your home resort. If you wanted to stay at a resort other than your home resort, you'd have to wait until 4/13/12 (7 months) to book.

Ok, so it's calendar date, not however many days, etc.

 

[DopeysGal82]

I've been talking to DH, but he doesn't want to wait. He said if we wait, we're going to pay the same and use it for fewer years, if we know we're going to buy, why not now?

And lots of people are saying their biggest regret is not buying sooner. I'm trying to investigate it. It's so hard to argue with DH and say "No, let's not get something I always dreamed of"

ETA: This is how they get you, because it's such an emotional thing.

 

[disneynutz]

I've been talking to DH, but he doesn't want to wait. He said if we wait, we're going to pay the same and use it for fewer years, if we know we're going to buy, why not now?

And lots of people are saying their biggest regret is not buying sooner. I'm trying to investigate it. It's so hard to argue with DH and say "No, let's not get something I always dreamed of"

ETA: This is how they get you, because it's such an emotional thing.

It's your money and your DH so do what you want. Once that emotions fade and the bills start coming in, you can say I told you so!

Life's lessons are sometimes learned the hard way.

We own at 5 DVC resorts and BLT is our least favorite.

One last item. Think of the hundreds of people currently trying to sell their DVC contracts, and the thousands that have already sold this year. If DVC is such a great deal for everyone then why are so many people selling?

I am sure that each and every one of them intended to stay Members for many, many years, but for various reasons, including not fully understanding what they were buying, and buying on emotion, they are now willing to lose money to get rid of their obligation to Disney.

Bill

 

[DopeysGal82]

What sorts of things do people not realize when they sign up that causes them to change their minds later? Is there another thread on this?

 

[KAT4DISNEY]

What sorts of things do people not realize when they sign up that causes them to change their minds later? Is there another thread on this?

• How much maintenance fees will actually be when that bill comes in January.
• That they tire of going to WDW year after year.
• That renting takes work - sometimes a lot of it.
• That they are happy staying anywhere and wish they had purchased the cheapest DVC.
• That they are only happy staying one place and wish they had purchased at the DVC they love and have to stay at.
• That the resort they thought they would love is not their favorite.
• That DVC is just the beginning. WDW is an expensive vacation when you add on tickets, airfare and food and now they are locked in to it.
• That they would have been just as happy staying at moderates or values.
• That renting would have been a cheaper option and allowed greater flexibility.
• That there is a resale market for DVC and they could have purchased at a lower cost.

 

[lisa3635]

• How much maintenance fees will actually be when that bill comes in January.
• That they tire of going to WDW year after year.
• That renting takes work - sometimes a lot of it.
• That they are happy staying anywhere and wish they had purchased the cheapest DVC.
• That they are only happy staying one place and wish they had purchased at the DVC they love and have to stay at.
• That the resort they thought they would love is not their favorite.
• That DVC is just the beginning. WDW is an expensive vacation when you add on tickets, airfare and food and now they are locked in to it.
• That they would have been just as happy staying at moderates or values.
• That renting would have been a cheaper option and allowed greater flexibility.
• That there is a resale market for DVC and they could have purchased at a lower cost.

Great advice here, hope you take it and learn as much as you can and consider resell. I LOVE DVC but it certainly isn't for everyone. The other thing I'd add if if you can't/don't plan your trips until 7 months or out it doesn't matter what resort you have points at. Points are points at 7 months. The SSR points I am purchasing fully loaded on the resale market for $55/point are just as valuable as BLT points purchased directly from Disney at what, $150/point(?) at 7 months out. I also have a small amount of BLT points that I use exclusively to book standard view studios at 11 months out in December which there is no way I would ever get get consistently without owning.

Also maintenace fees will continue to rise, about 3% historcially, BLT saw a huge increase this year, in excess of 8%, I believe.

 

[Mtnman44]

The following is my opinion, I don't mean to put down or criticize anyone else's choice.

$140 per point for DVC at this point in time is ridiculous. Even if you love BLT MK views and never ever want to stay at any other DVC, at least buy resale and save several thousands.

If you only occasionally want to stay at BLT and/or would most likely want the lake view (MK views cost a lot of points) then for all that is decent and holy, don't pay $140 per point!

We all understand the excitement and Magic that you and your DH are feeling right now. It is all part of the sales presentation and Disney folks have mastered this. However, DVC points are DVC points. Add in the fact that you've said BLT isn't even at the top of your list, there is really NO reason to pay so much!
$140 per point vs. any number of options ranging from $45 to $75 per point.

Good luck with your decision.

 

[Lynne M]

I've been talking to DH, but he doesn't want to wait. He said if we wait, we're going to pay the same and use it for fewer years, if we know we're going to buy, why not now?

It's not worth taking a couple of weeks, to learn about what you've bought, make sure it's right for you, that you've bought the right contact, at the right resort, with the right amount of points? And potentially save thousands of dollars?

And lots of people are saying their biggest regret is not buying sooner.

You're hearing that from current, satisfied members on this board. You're not hearing from the people who bought DVC on impulse, were horrified to learn that it wasn't what they thought it was, and sold it at a loss. They don't post here.

It's so hard to argue with DH and say "No, let's not get something I always dreamed of"
ETA: This is how they get you, because it's such an emotional thing.

Yep, it's purely an emotional appeal, and that's what you need to fight against, to make a wise purchase. It seems that you and your husband have made a lot of assumptions about how DVC works, some correct, some not. It's important to take the time to learn how it *really* works.

DVC is a way of pre-paying for resort accommodations. That's all it is. You can get those same accommodations for cash. There's virtually nothing that you get as a DVC member that you wouldn't get as a cash customer, except for a few token perks. You're not a member of some exclusive club. You're not going to get special treatment. You're getting the same villas that anyone who books on cash will get. The value that people find in DVC is that prepayment gives you a reduced cost on villas, as compared to booking a cash reservation.

To me, there's no emotional component to owning DVC. It's a business transaction. Read the contract - all of it - and make sure you understand what you're getting.

 

[MsTessP]

<I've been talking to DH, but he doesn't want to wait. He said if we wait, we're going to pay the same and use it for fewer years, if we know we're going to buy, why not now?>

No! You will NOT be using it for fewer *years* if you wait a bit! It will take you less than a week to really study these boards and ask questions. And when you buy resale, it may be that only 4-6 *weeks* go by before you own.

A big decision like this is certainly worth 7-8 weeks of study.

I was just informed that our resale (first-time DVC owners ) took place on December 7th, so we are now DVC owners! I was also tempted by the immediate gratification that comes from buying direct from Disney. But after studying these boards from quite some time, I realized that the month and a half of waiting will be long forgotten, but the almost $8,000 of savings on our 140 point contract will be happily remembered! The way I look at it, I "paid" myself a bit over $1,000 a week to be patient!

Urge your DH to at least read all these comments and think about them. And make sure all your questions are answered. We will all feel better that you two at least had all the information before you made your decision.

 

[DopeysGal82]

Is there ANY negative to buying resale?

I know you can't use the points at DCL or the partner resorts. Can you use them at the DVC properties at DL, Vero, HHI, etc?

Please let me know which of my assumptions are incorrect.

The one thing they told us we'd get booking onsite vs. booking later was that if we booked onsite we'd get an August UY instead of February and we'd get a full year of points for 2011 rather than the points starting Feb 2012. Maybe I misunderstood this?

Are you still full members with the same status and benefits if you buy resale?

I definitely understand it's really about pre-paying for vacations and getting to stay at a nicer accomodation for a lower overall rate. In the past 8 years, DH and I have been to WDW 6x. It honestly would have been more if we hadn't had family issues come up and our wedding, etc. Our trips get better and better. I definitely don't see us getting bored of WDW any time soon, and when I say soon, I mean decades. We don't have children yet, so we'd have a whole new experience bringing the kids. I think the overall idea is good for us, but I keep reading about how buying direct is a waste.

Thanks for the advice, and for understanding that it's hard to listen when you're thinking "wow, theme park views and monorail access for the next 48 years!"

 

[DVCismyhappyplace]

from the member website:

"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."

As far as you UY goes, you can look for a contract on the resale market that has the UY you want.

 

[etemplet]

Hubby keeps telling me don't worry about it, we can afford it, and it's going to be great to have priority on such a great location.

Then I would suggest not worring about it. Think of all the fun you and your husband are going to have over the years. When you choose to add points you can purchase resale if you like and save a few dollars. There is nothing wrong with buying direct from Disney. There are beneifts to doing so.

Good luck whatever you decide.

 

[kristie03]

Just my 2 cents, but I think that a DVC is more of an emotional purchase than anything.

If you are comfortable with how DVC works, and with going through Disney, DH says you can afford it, then Welcome Home!

Stay here on the DIS boards and you will learn lots of info, but honestly the direct vs resale debate will always go on and on...you just have to be comfortable with what you decided.

Good luck with whatever you decide, but I think you will love it if you stay!

 

[crisi]

• How much maintenance fees will actually be when that bill comes in January.
• That they tire of going to WDW year after year.
• That renting takes work - sometimes a lot of it.
• That they are happy staying anywhere and wish they had purchased the cheapest DVC.
• That they are only happy staying one place and wish they had purchased at the DVC they love and have to stay at.
• That the resort they thought they would love is not their favorite.
• That DVC is just the beginning. WDW is an expensive vacation when you add on tickets, airfare and food and now they are locked in to it.
• That they would have been just as happy staying at moderates or values.
• That renting would have been a cheaper option and allowed greater flexibility.
• That there is a resale market for DVC and they could have purchased at a lower cost.

We've also seen

• People who could afford it when they purchased, but faced health care crisis or job loss or another life event that made it impossible for them to own.
• Couples who bought young who were shocked at how expensive children were when children were added to their lives
• As an addendum to that, people who traveled for nearly free with young kids who suddenly have to space their trips more than DVC will allow when they have four airfares and four Disney adults for tickets and dining.
• Then there are the "once the kids get into school and active with their sports and activities, we can't travel" people
• Many people, including some folks on posting to this thread right now, who had what they thought was an undying commitment to Disney who have become disillusioned and spend more vacation time other places.

 

[crisi]

I now see that there's an extensive resale market, but we're comfortable buying through Disney for the flexibility and financing.

By the way, if you can afford it, why is financing a concern?

 

[luckyman_apd]

I see all the emotion in your posts....in fact the very same emotions I first had last February when we rented at BLT last February. I'm hooked now. I want to purchase, but the reasonable (some would say cheap) side of me says, is this really a good deal?

So after almost of year of crunching numbers and analyzing and debating I've come to the following conclusions.

1. BLT is where my wife wants to buy. I think I have a love affair with the Mono rail too. Even though I need a bus to DHS, I still love the convenience of the Monorail for traveling to Epcot, or even MK. But it is a premium to buy there, and after several tries to talk her down, BLT is what she wants. If she didn't want it, we would definitely pay less for something else. Since she would NOT be happy on our Nov trips if we couldn't get in to BLT, it would add stress to the trip, and DVC should ENHANCE your vacations, not be a burden to it.

2. Buying Resale is the ONLY way I would buy BLT. We almost jumped the gun and purchased through Disney after our second trip in June/July. It would have been an SSR contract, but more points than we really need. (I'll get to that in #3). So buying resale, I can get the points I need at BLT for the same price or less that I would have paid for SSR through Disney. We ONLY plan to use the points for DVC travel at WDW. This doesn't mean it is the best way, but for our use, it is. If you only plan to use points at the resorts (and can wait 8 weeks to get your points though a resale) then this could be a cheaper option for you. (even though you DH says the money is not a problem)

3. Deluxe accommodations. Buying the 100 points resale will give us enough points to bank and borrow and stay on our planned Disney vacation timeline of roughly every 18 months. Sometimes a little longer, sometimes a little shorter (I've planned out the usage for the next 6 years ) In crunching the numbers 2 out of 3 trips will be in a studio, with a middle trip in the summer at a 1 br. We may not have the points for a BLT 1 br at the time, but at 7 months out I'm sure a 1 br will be open at 1 resort, and we like the idea of trying the other resorts in the summer when our stay is longer and more relaxed. For the money we will be spending, all of these trips would have to be in moderate or value rooms if spending cash. We ARE going to make these trips over the next several years, and I might as well stay at better resorts .

4. Calculate your points CAREFULLY. I have friends who own more points than they need. They say they calculated to have a 1 br for all the times they go. Well 4 years later, they've got themselves Disney'ed out. They have taken more vacations than they thought they would, costing them a ton more than they planned. I figure by going low now, I'm getting what I think I need. If in 3-4 years I see that we want better rooms, or longer stays, we will buy another contract. I agree with the post of splitting into two contracts if you can. It won't hurt you in the short, and could really help in the future should you plans change.

Good luck! Remember, this should enhance your vacations, not make it more stressful!