Just got DVC contract from FEDEX, confused...

[reedycreek]

it finally came, a big fedex box with lots of disney paperwork inside to sign for my DVC membership. i am confused about something though, and i cant get in touch with my guide--

my total purcahse price was 14,700. they want 1700 in 2 weeks for my down payment. i already gave them 500, and am supposed to get a credit of 1200 for signing up during a promotion. where are these $500 and $1200 amounts on my contract? they seem to have left them out. any ideas????

 

[gharrer]

There is a number in your packet you call for questions about the contract. I'm not sure how many points you got but we got 200 points and the deposit was 3800. We took the 2004 use year instead of the $8 per point.

 

[mef78]

RC -- If you've bought into Saratoga Springs as we're looking to do, your DVC rep probably quoted you the down payment price AFTER subtracting the $1200 incentive. For instance, the actual down payment for SSR is over $3,000; but after the incentive is subtracted, it's lowered to $2,000+. So that makes sense that the total amount Disney expects from you would be $2,200.

 

[reedycreek]

thanks, i got it all figured out now, i had time to sit down and read everything and it all makes sense now.

 

[tamu91]

it finally came, a big fedex box with lots of disney paperwork inside to sign for my DVC membership. i am confused about something though, and i cant get in touch with my guide--

my total purcahse price was 14,700. they want 1700 in 2 weeks for my down payment. i already gave them 500, and am supposed to get a credit of 1200 for signing up during a promotion. where are these $500 and $1200 amounts on my contract? they seem to have left them out. any ideas????

You must've purchased 150 pts @ $98 per point. If you put down $500 deposit and the contract shows another $1,700 for a total of $2,200 deposit, that's the 15% deposit.
IMO, the way DVC offers the $8/pt credit on paper is little confusing. I'm sure there are accounting/finance/tax wizards out there who can explain why Disney must handle their paperwork this way but DVC offers the credit against the amount of deposit you actually have to put down.
There should be a clause in the Contract about a down payment credit of $1,200 (150 pts x $8/pt) that will offset the total deposit shown in the settlement sheet.
The entire hoop-de-doo basically says your credit card will be billed $500 (initial deposit) plus another $505 = $1,005 your out of pocket expense for now. The other $1,200 will comes from the "deposit credit".
Makes sense. At least that's the way my Contract was structured on my add-on.