Just Purchase BLT!

[Chkysbak]

My wife and I just purchased BLT for $160 pp @ 200 points. My entire family goes to disney at least once a year and this year we are going twice. We were ecstatic that our DVC sales person called us and said that BLT was available and we wasn't going to be on a waiting list. Of course as everyone here, the down payment killed us. This is especially true since I just got back from Disney last week.

I know we will use it, just terrified due to cost. My wife was insistent on purchasing direct. I did look into doing a Home Line of Credit, but we didn't have the equity since the housing market fall.

Nervous but excited

 

[cbnsoul]

Congratulations! BLT is my favorite resort - you'll love it.

Can I ask what your use year is? We were on the wait list for months for a December use year and finally canceled it.

 

[MouseMomx2]

First...Welcome Home!

Second...Since you are still within your cancellation window, and since you mention the cost...have you considered buying a resale instead? The cost is much, much lower. There are a few restrictions, but (IMO) they are all for things that aren't a good value for the points. You would still be able to trade out via RCI, you just wouldn't be able to use them for the non-DVC Disney options or for the Concierge Collection. If you are going to use your membership at the DVC resorts definitely look into resales before your cancellation window ends. You will save a bundle.

 

[wiigirl]

Congrats!

 

[Chkysbak]

Use year is June 2013, so we have 200 point now

We did look into that, but being new and just didn't want to deal with the headache. We are looking into paying it off sooner later on down the road when we do have all the equity in the house or another form of payment.

Thanks

 

[csharpwv]

OK, let me get this straight - you are paying $160 p/p for BLT with VGF is available for $150 p/p?!

I had no idea that BLT was more expensive than VGF! YIKES!

Are you sure your purchase price is $160?

 

[Andrew015]

If you are the slightest bit nervous about the cost, I would strongly recommend that you consider backing out and reconsidering your options. You wouldn't be too hard pressed to find a 200 point BLT contract on the resale market for $85-90 ppt. This would cut your cost in half, and your perks are largely the same as buying direct.

May I ask, what are the reasons that your wife insisted on buying direct? Does she have visions of using points towards Disney Cruises or staying at resorts such as the Poly on points? If so, does she know that these "perks" are actually poor uses of points (meaning that you are far better off paying cash for such vacations)? Really, the best use of your points is going to be at any one of the DVC resorts, which you have zero restrictions on when buying through resale.

If she is nervous about buying resale through a broker, she should research the DVC boards and know that many of us here have purchased successfully through one of the well-established brokers. We can guide you through the process, and while it does take a little longer and slightly more patience than buying direct, I find that the savings are more than worth the wait. For what its worth, I sleep much better at night knowing that I paid cash - $50/point for Villas Wilderness Lodge as opposed to financing something at three times the cost!

 

[cbnsoul]

I was quoted $158 ($165 minus $7 discount) on a 50 point add on being a current DVC member. I hadn't seen any discounts listed anywhere and was surprised to hear it. Apparently there is a $5 discount for new owners too.

As I just stated on another thread, now that you mentioned you bought, people will be all OVER you talking about resale (I can see it's already begun), which is fine. Just realize there are a few restrictions for resale purchases but a fairly substantial cost savings. Financing on resale is available in some cases. Most importantly, do what you are comfortable with and enjoy BLT for years to come!

 

[pinnocchiosdad]

OK, let me get this straight - you are paying $160 p/p for BLT with VGF is available for $150 p/p?!

I had no idea that BLT was more expensive than VGF! YIKES!

Are you sure your purchase price is $160?

I am perfectly fine with honoring the "to each his own" adage. BUT. Why is it assumed that VGF should be priced higher than BLT. Just because VGF is newer? Just because GF rack rates are higher than CR rack rates? The list of why I would purchase BLT over VGF is as long as my arm. I never once bought into the VGF hype. I have no desire to stay there. I would have no problem paying a higher price for BLT points.

 

[Andrew015]

As I just stated on another thread, now that you mentioned you bought, people will be all OVER you talking about resale (I can see it's already begun), which is fine.

Just to clarify my post above… I am not trying to start the 10,001st iteration of the “resale vs direct” debate. There are folks on both sides of the tracks with reasons for being there. I am simply trying to help a fellow DISer who seems to have buyers remorse, or at the very least, is very concerned about a very significant investment that they just made. As a longtime DISer, Disney fanatic, and fellow DVC owner, I feel compelled to reach out and offer what I feel to be some well-grounded advice…

I am a believer in re-sale through and through. I believe that most people who buy direct from Disney 1.) are not even aware that a re-sale market exists 2.) are buying impulsively while on vacation and are blinded by the pixie dust… when they get home and the pixie dust begins to wear off and the reality of a $32,000 investment kicks in, they begin to second guess things… much like our OP above… 3.) They really want the added “perks” of buying direct (i.e. the ability to book Disney Cruises), but have not bothered to sit down and crunch the numbers to determine that these “perks” are really not a good value. Rather, they’re just marketing tools used to suck in a larger audience of perspective buyers… or 4.) they find it all too convenient to finance through Disney, and pull the trigger impulsively (once again, blinded by pixie dust, unaware that other options – i.e. resale – even exist).

There may be a very specialized buyer that for one reason or another, makes for a good candidate to buy DVC directly. In my opinion, such a buyer has a significant amount of disposable income that warrants paying a 50-100% premium on a very large, luxury investment, or they need the points immediately and do not have the time to wait for the “right” re-sale contract to come along. With this in mind, I don’t believe that our OP has a significant amount of disposable income to “throw away” – otherwise, they would have paid cash rather than financing and they wouldn’t be writing us to say they’re “concerned about the cost”. And the whole “I can’t wait – I need my points now” argument is weak at best. Resale contracts can be purchased in 1-2 months.

To the OP – I just want to reiterate, my post is only meant to help you. You need to know that there are other, less costly options to get you essentially the same thing at 50% of the cost. If cost is a concern to you, I would exercise your right to walk away while you can and make sure you have a handle on things. Don’t worry about BLT going anywhere. You have time to think this through and make the best decision for you and your family.

--Andrew

 

[Chkysbak]

Maybe I need to explain a little...LOL

The reason why the down payment of 4k was "killing" me is due to the fact that I just spent 6k on my last vacation to Disney last week. So effectively, my savings account has gone down 10k in the past 10 days.

I have the money in savings, it was just a huge drop in the past 10 days.

My wife and I went direct to get the points now. I will in the future look at getting it paid off sooner. No, the monthly payments are not an issue. I don't have enough equity in the house to borrow 100% nor do I have that amount of cash in savings, but I can within a couple of years.

Financially, we will be fine its just the shock of 10k leaving that quickly.

Sorry maybe I should have been more upfront.

Resale is an option, but later down the road.

My wife and I have been contemplating DVC for at least 5 years. We recently decided that we wanted to do DVC, but at BLT. When we went to the visit BLT wasn't available direct. The main reason we chose direct is the convenient financing. We will be paying off early, so interest wasn't an issue. I have seen on resale that BLT does range from 95-110 pp. As stated, financing was the biggest issue.

With a daughter in college, a son about to go to High School I don't have the cash to pay for this purchase outright. So financing was the easiest option.

Hope this helps.

 

[Andrew015]

Maybe I need to explain a little...LOL

The reason why the down payment of 4k was "killing" me is due to the fact that I just spent 6k on my last vacation to Disney last week. So effectively, my savings account has gone down 10k in the past 10 days.

I have the money in savings, it was just a huge drop in the past 10 days.

My wife and I went direct to get the points now. I will in the future look at getting it paid off sooner. No, the monthly payments are not an issue. I don't have enough equity in the house to borrow 100% nor do I have that amount of cash in savings, but I can within a couple of years.

Financially, we will be fine its just the shock of 10k leaving that quickly.

Sorry maybe I should have been more upfront.

Resale is an option, but later down the road.

My wife and I have been contemplating DVC for at least 5 years. We recently decided that we wanted to do DVC, but at BLT. When we went to the visit BLT wasn't available direct. The main reason we chose direct is the convenient financing. We will be paying off early, so interest wasn't an issue. I have seen on resale that BLT does range from 95-110 pp. As stated, financing was the biggest issue.

With a daughter in college, a son about to go to High School I don't have the cash to pay for this purchase outright. So financing was the easiest option.

Hope this helps.

You list two main reasons for buying direct vs resale - the first being convenient financing. You should know that it is absolutely possible to finance a re-sale purchase. Your second reason for purchasing direct is the ability to quickly access points. I would assume that means that you already have your next trip in mind or planned? If so, is it worth it to you and your wife to potentially save $15,000 or more by moving back the vacation a few months and buying a re-sale contract? For what it's worth, The Timeshare Store (the DIS preferred re-sale broker) currently has six - 200 point BLT listings. I'm guessing between the six listings, you would find at least one motivated seller, and could have a contract locked up in 1-2 months... Just something to ponder, especially with a daughter entering her first year of college. $15K could go a long way in terms of tuition, books, beer or bail money ... (hopefully, she's not as rambunctious as I was, but that's for another thread)...

It sounds like your mind is made up that you did the right thing, so if you're happy, that is all that really matters. Just trying to play devil's advocate and make sure you are exploring all of your options thoroughly. Wishing you the best of luck and lots of great DVC memories in the years to come.

--Andrew

 

[Dacky619]

Congrats on your purchase. We've owned BLT for a few years but just booked our first stay there for next summer.

 

[Chkysbak]

Called my agent and left a message to cancel/rescind my contract. I know I will get my deposit back, so no worries there. I will look into resale and other options at that point. Thanks for all the information and after looking more into the resale options, I agree. I don't see spending 12k more for the same points.

Thanks for all the information. I will be back online posting one day soon.

 

[sweetdana]

Called my agent and left a message to cancel/rescind my contract. I know I will get my deposit back, so no worries there. I will look into resale and other options at that point. Thanks for all the information and after looking more into the resale options, I agree. I don't see spending 12k more for the same points.

Thanks for all the information. I will be back online posting one day soon.

This makes since. Also start small. If you can only afford 100 points cash then easy Buy 100 points. .. add on later. Buying 200 is a lot. Buy what you can afford makes more since. If you buy 60-75 points you still have enough for a nice studio trip every other yr or even a pretty good one 2 out of 3 yrs. then add on another 60 points when you can. No rush.

You might even find after 2-3 stays you cannot make the 7 month windows n OKw/ssr make more sense or after staying at bwv/bc you found a new love and don't love Blt.

Buying dvc from an informed buyer makes sense!!! Buying without thinking it through and taking the easiest route at the cost of 32k (and not having it to spare ) is another story.

 

[pinnocchiosdad]

DVC is a very impulsive emotional purchase. Once your resale contract closes you will have the same awesome feeling that you did when you purchased the other day. Call the Time Share Store and tell them what your looking for. I have dealt with them several times and they are a reputable company with great point inventory. They list many new contracts each week.

 

[sarah4770]

Called my agent and left a message to cancel/rescind my contract. I know I will get my deposit back, so no worries there. I will look into resale and other options at that point. Thanks for all the information and after looking more into the resale options, I agree. I don't see spending 12k more for the same points.

Thanks for all the information. I will be back online posting one day soon.

You have to put it in writing and mail it to the address noted in your contract within the 10 days. Not sure if you signed your contract yet?

 

[KAT4DISNEY]

Called my agent and left a message to cancel/rescind my contract. I know I will get my deposit back, so no worries there. I will look into resale and other options at that point. Thanks for all the information and after looking more into the resale options, I agree. I don't see spending 12k more for the same points.

Thanks for all the information. I will be back online posting one day soon.

If you didn't sign a contract yet this should be enough although you might also be asked to contact quality assurance to get your deposit back.

If you already signed the contract you will need to follow the instructions that were included with the contract on how to rescind and it will have to be in writing.

(FWIW - my "cheap" resale contracts have a special place in my heart. And my bank account.)

 

[Chkysbak]

I haven't signed anything. Just verbal. Nothing has been charged to my credit card. I am sure if an email is required I will find out when my agent gets the phone message. Thanks for all the help

 

[Mazz519]

Now that you made the decision to cancel through DVC, take ur time and search the resale market fully.... My cousin just bought a BLT resale 210pts for 93.00 a pt, that is 67.00 less that what you were gonna pay, a savings of 14,070.00. I know she is financing too with the whole purpose of paying it off early. I have been a DVC owner since 1997, my first purchase was through DVC OKW 150pt for 67.00 a pt. Through the years I have added on 4 times all through the resale market and I know that I saved a considerable amount of money. The only difference these days are you cant book a cruise and book non DVC resorts(something that I would never do, just not a gd pt value at all)..Good Luck with your searching....the real gd deals are out there.