Just paid our deposit yesterday for CCV - Guaranteed Week

[Anthony Vito]

Thats great! Congrats!! Feel free to come join us on the CCV thread!

https://www.disboards.com/threads/•...k-villas-cabins-owners-lovers-group•.3631019/

Thank you and we will!! We haven't yet, and I hadn't replied for a few days, because we had a little bit of a hiccup earlier in the week, so we wanted to make sure we were good before jumping the gun and saying we're owners any more. Normally I would wait until all the paperwork is signed before posting, but we were so excited that I went ahead and posted this last weekend. Then we went a couple days without our credit card being charged, so we were getting worried there was an issue.

Well, it turns out there was a kind of small issue, which we didn't find out right away because our guide was off (and was only in Monday because of Riviera going on sale to the public). It turns out that Disney is not registered to sell financing in Delaware, where we live. They're registered to sell the timeshares, but not financing. So this apparently means they cannot send out any paperwork to us in Delaware or to anyone for us with us having a DE address. Apparently, signing the paperwork (purchase and the financing) AT Disney is not an issue at all. So we were able to pay our deposit, having a contract for purchase as of now and have to pay dues, etc. from now, but we'll just be able to sign the financing paperwork in a couple months when we're down there on vacation. I guess being in a small state, this was not something that came up very often.

 

[Anthony Vito]

10% more points to book it. So, for example, say it's 100 points for the week. You pay for 110 points as a guaranteed week, and that week is automatically booked for you for 110 points every year. Then, you have the option each year to cancel and get 110 points to use on a different accommodation. The other advantage is you're protected from a reallocation. Suppose they reallocated points and it was then 115 points to book that same week. You still get the guaranteed booking for 110 points every year.

Honestly, this was another big selling point for us. The premium seemed well worth it for us, but we're thinking eventually we might actually be getting a discount in points for that week if they reallocate the points throughout the year, given that December is such a popular time for DVC reservations and that summers aren't as busy as they used to be.

 

[ScubaCat]

Honestly, this was another big selling point for us. The premium seemed well worth it for us, but we're thinking eventually we might actually be getting a discount in points for that week if they reallocate the points throughout the year, given that December is such a popular time for DVC reservations and that summers aren't as busy as they used to be.

I was surprised they didn't "fix" the December points chart in the now-retracted 2020 points chart. But I agree, that's a good time to lock in via a fixed week deed. Plus, a 10% premium is a very small price to pay to lock in a tough-to-get room for 5 decades!

 

[mrsap]

Thank you and we will!! We haven't yet, and I hadn't replied for a few days, because we had a little bit of a hiccup earlier in the week, so we wanted to make sure we were good before jumping the gun and saying we're owners any more. Normally I would wait until all the paperwork is signed before posting, but we were so excited that I went ahead and posted this last weekend. Then we went a couple days without our credit card being charged, so we were getting worried there was an issue.

Well, it turns out there was a kind of small issue, which we didn't find out right away because our guide was off (and was only in Monday because of Riviera going on sale to the public). It turns out that Disney is not registered to sell financing in Delaware, where we live. They're registered to sell the timeshares, but not financing. So this apparently means they cannot send out any paperwork to us in Delaware or to anyone for us with us having a DE address. Apparently, signing the paperwork (purchase and the financing) AT Disney is not an issue at all. So we were able to pay our deposit, having a contract for purchase as of now and have to pay dues, etc. from now, but we'll just be able to sign the financing paperwork in a couple months when we're down there on vacation. I guess being in a small state, this was not something that came up very often.

Oh wow! What a headache! Luckily you’ll be there soon and can get everything done!! Good luck to you!!!

 

[princesslover]

Congratulations on your new home! Interestingly enough, I just got off the phone with DVC sales ( am currently a CCV owner as well) regarding adding on 50 points and checking into financing. I asked about guaranteed weeks, and he indicated that you do not get the extra 10% in points back if you give up your guaranteed week in lieu of a different week. He said you just get the regular amount of points and that the 10% is only for the purpose of holding the room. He seemed very certain. Perhaps he is misinformed?

 

[Brett Wyman]

I had always thought buying a Guarantee Week isn't a good idea, since you are paying more for points for the same week. However, you convinced me otherwise. Not that I plan on buying direct, but this actually the only reason that make sense to me to buying direct and to buying a Guarantee Week.

I think you will be really happy at the end with your purchase decision. Enjoy!!!

Great3

It depends greatly on room type, resort, and time of stay. It makes since sometimes and not at all at others. A studio at CCV in the first two weeks for December is the devil's holy trifecta of impossibility. Definitely the perfect case for a guaranteed week if that's when and how you want to travel.

 

[crvetter]

Congratulations on your new home! Interestingly enough, I just got off the phone with DVC sales ( am currently a CCV owner as well) regarding adding on 50 points and checking into financing. I asked about guaranteed weeks, and he indicated that you do not get the extra 10% in points back if you give up your guaranteed week in lieu of a different week. He said you just get the regular amount of points and that the 10% is only for the purpose of holding the room. He seemed very certain. Perhaps he is misinformed?

He is misinformed. You get the 10% if you do not exercise your GW.

 

[princesslover]

He is misinformed. You get the 10% if you do not exercise your GW.

Well that is pretty discouraging that a DVC sales rep is misinformed on the rules.

 

[crvetter]

Well that is pretty discouraging that a DVC sales rep is misinformed on the rules.

I will say I was explicitly told that the Guides are educated on GW for all 5 mins. So I'm not entirely surprised they were misinformed. In order for me to get true answers on GW I had to go up very high in the DVC chain. I would ask to to speak to your Guide's leader for confirmation on anything related to GW.

 

[Anthony Vito]

My guide told me from the start that he didn't know a lot about GWs because they came up so rarely, and he's been there for 28 years. He was very good though because any questions/info related to it, he looked into it and asked higher up to get the right answers, then called me back. When it turned out to be different than he thought, he told me so and admitted that he learned something new.

When I get home later, I can even quote the language from my contract as it relates to this issue. What I did find interesting is that the contract language makes it so that the contract has to be for the number of points (with the 10%) for that guaranteed week. We had thought about just rounding up to 120, but he told us we needed to just do 118 (the GW point total). In the contract, this is clearer because the language used states that when reserving the GW reservation, all of the points in the contract are used, regardless of what the points allocation charts say. This of course also means (which was told to me as well) that we're protected from increases in the points needed for that week.

 

[motherof5]

10% more points to book it. So, for example, say it's 100 points for the week. You pay for 110 points as a guaranteed week, and that week is automatically booked for you for 110 points every year. Then, you have the option each year to cancel and get 110 points to use on a different accommodation. The other advantage is you're protected from a reallocation. Suppose they reallocated points and it was then 115 points to book that same week. You still get the guaranteed booking for 110 points every year.

Thanks. Makes sense.

 

[motherof5]

I was surprised they didn't "fix" the December points chart in the now-retracted 2020 points chart. But I agree, that's a good time to lock in via a fixed week deed. Plus, a 10% premium is a very small price to pay to lock in a tough-to-get room for 5 decades!

Are they letting people lock in Christmas week, school vacation and the high demand weeks?

 

[ScubaCat]

Are they letting people lock in Christmas week, school vacation and the high demand weeks?

Sure. What do they care? It's a free 10% premium for them. The POS caps guaranteed weeks at 35% per residential unit, although I doubt they've even sold that many.

CCV also introduced "guaranteed event week". I haven't heard much about anyone buying those, but that's basically guaranteeing you a week for a certain event. So if the event gets moved on the calendar, so will your guaranteed week. As far as I know, it's only sold for the marathons, but that could certainly have changed since it was announced. (In other words, suppose you want a room for the star wars dark side marathon. Your guaranteed week will always cover that event regardless of when it is.)

 

[motherof5]

Sure. What do they care? It's a free 10% premium for them. The POS caps guaranteed weeks at 35% per residential unit, although I doubt they've even sold that many.

CCV also introduced "guaranteed event week". I haven't heard much about anyone buying those, but that's basically guaranteeing you a week for a certain event. So if the event gets moved on the calendar, so will your guaranteed week. As far as I know, it's only sold for the marathons, but that could certainly have changed since it was announced. (In other words, suppose you want a room for the star wars dark side marathon. Your guaranteed week will always cover that event regardless of when it is.)

I will have to see about learning more next time in FL this summer. Interested in school vacation week as that is a stress to get each year

 

[ScubaCat]

I will have to see about learning more next time in FL this summer. Interested in school vacation week as that is a stress to get each year

If you want copper creek, it'll probably be sold out by then. May want to call soon!