Just purchased VGF 160 pts - Good move?

[dis79tim]

Some really terrific insight provided here! I appreciate all of you input thus far and welcome additional opinions. I am leaning towards rescinding, and renting points to stay in a dvc resort this fall, and then touring the VGF when there.

I'll be looking at all the information I can get my hands on over the next few days to make the decision that is best for us.

Thanks so much to all of you! Keep it coming!

 

[NoleFan]

Buy where you want to stay if you are able to plan ahead within your home booking window & especially during peak seasons (holidays, f&W, & more). Look at the point chart. Room type & time of year to see how many points you need. If your preference is VGF, then keep the contract. It is a small resort that will probably be hard to get into if you are not an owner. However, if that is not your preference or you are not sure if it is, then rescind for sure so you can consider all your options (other resorts, resale). You can also have more than 1 home resort so if you want to stay @ 1 resort during a certain time of year & another during some other time. Lots to consider & a big investment so take your time & do your research. Good luck!

 

[Breyean]

Some really terrific insight provided here! I appreciate all of you input thus far and welcome additional opinions. I am leaning towards rescinding, and renting points to stay in a dvc resort this fall, and then touring the VGF when there.

I'll be looking at all the information I can get my hands on over the next few days to make the decision that is best for us.

Thanks so much to all of you! Keep it coming!

Depending on how long you plan to stay on that visit, consider trying more than 1 DVC resort. Some people love doing that, others hate it. Seems a lot depends on family size and willingness to not get too settled in your room.

But if you could spend a few nights at different DVC resorts, maybe in very different areas, like an EPCOT resort and a MK resort, or AKL or OKW, you might decide whether you like being close to the action (and parks) or like to get away to a secluded resort.

Even if you don't do a split stay, maybe you could devote a day or a couple of afternoons to visit some different resorts. Sometimes, if there are empty rooms, you can ask at the desk and you can get to see them.

Treat that visit as a fact finding mission for this big financial decision you will be making.

 

[BestDadEver]

I don't think all these other things people are bring up are an issue . I believe you will still find savings even when financed .

But mainly the thread title is what had me worried . "Good move ?" It makes it sound like you have little knowledge of what you bough , and for the amount of money you have spent I think you should know everything about it . Do you fully understand the use years , the 11/7 booking , did you realize you could have bought any of the dvc properties . These are things that I had quite a lot of questions about and they all were not answered in one tour , I went on 3 tours and leaned on a few of my friend that own DVC .

If you understand how it works and you really want to be at GF than I'd say keep it . But if not I'd rescind .

 

[BestDadEver]

Some really terrific insight provided here! I appreciate all of you input thus far and welcome additional opinions. I am leaning towards rescinding, and renting points to stay in a dvc resort this fall, and then touring the VGF when there.

I'll be looking at all the information I can get my hands on over the next few days to make the decision that is best for us.

Thanks so much to all of you! Keep it coming!

My opinion on this is that the price pp is going to skyrocket . So if you have plans to buy VGF within a year or 2 direct just keep the contract cause the pp will likely be around $180 pp .

 

[Minniesgal]

I think if you really want to own VGF to stay there and you know how you are going to use those points buy now because the price is only going to go up and fast.

If you bought on impulse because you got carried Way on a cruise and you would be happier buying a cheaper resort resale and staying at another resort then cancel the contract and buy resale.

DVC can be a great product or an expensive mistake, which it is depends on you being able to define what it is you want. In my opinion the only reason to buy VGF points is to stay at VGF. As long as you have bought am amount of points that give you the accommodations you need at the frequency you need then I would say good decision.

 

[disneynutz]

Some really terrific insight provided here! I appreciate all of you input thus far and welcome additional opinions. I am leaning towards rescinding, and renting points to stay in a dvc resort this fall, and then touring the VGF when there.

I'll be looking at all the information I can get my hands on over the next few days to make the decision that is best for us.

Thanks so much to all of you! Keep it coming!

Everyone is different but I think that it's fair to guess that DVC changes you. As a owner locked into repeating vacations most at WDW, you will change your mind set about WDW. No reason to rush into the parks to pack as much into the day as possible. You will slow down and enjoy things more, spending more time at your resort enjoying the sights and sounds of Disney.

Because of this picking your home resorts can be important. We bought BLT when it was first offered, we don't really care for the resort now, just not the theming that we enjoy. My adult DD wanted AKV so we both bought some AKV points, that resort isn't our favorite either and if we had stayed at either of those resorts a couple of times, we could have saved some money by not buying and selling.

Bill

 

[ELMC]

I don't think all these other things people are bring up are an issue . I believe you will still find savings even when financed .

Do you "believe" this as one would "believe" in Santa Claus or do you know that this will happen because you ran the numbers several different ways against a variety of options? I would love to see an analysis that shows a savings within the first 20 years when financing VGF at $150 pp.

 

[jerseyduke]

I would at least hold off.

I think spacemountain made some excellent points, about VGF being a more complex resort, due to size, fixed weeks, december bookings, etc

I for one am a First 10 days of december type...and it will be hard for me to get this year after year. I am going to have to be ready to book at 8 am 11 months out every year.

I did not know about the things spacemtn mentioned, which are bad things for me, particularly because of the fixed weeks and december bookings, HOWEVER, it would not have changed my mind. Here is why:

1. I wanted unrestricted points(meaning a direct buy), and i wanted to be staying at the GF. (these are the two biggest points)

2. I was planning on this December anyway, so assuming I could get the slow season discount that disney usually rolls out in the fall for December, i would have been paying about 4k to stay at the GF, so I have already "recouped" some of my investment.

3. It is my plan to add on via resale, most likely another resort, so if VGF becomes too hard to get for my december trips, I will have another option, and use the vgf points for a different time

4. I am 41 with no children (well, I guess I am the child) so I have a lot of flexibility with vacation times. Plus I own my own business, which increases this flexibility.


All this being said, OP, I would put a hold on your contract and do a little more research.

Depending on when you go, and what type of accommodations you want, 160 points will not be enough for 2 4-5 day trips a year...you might be able to do 1 one year, and two the next year. Check point charts.

The only thing you are giving up by waiting a bit, even if only 2 weeks, is the ability to book NOW vs. in a few weeks.

While no resale expert, i do not think when VGF hits, it will be going for more than 150 at resale...

Also, just out of principle, I would not pay about 10 percent on what is essentially a secured loan!

 

[BestDadEver]

Do you "believe" this as one would "believe" in Santa Claus or do you know that this will happen because you ran the numbers several different ways against a variety of options? I would love to see an analysis that shows a savings within the first 20 years when financing VGF at $150 pp.

I am not going to get into this again . I am sure any way you look at it there is still money to be saved .

 

[nd43]

Some really terrific insight provided here! I appreciate all of you input thus far and welcome additional opinions. I am leaning towards rescinding, and renting points to stay in a dvc resort this fall, and then touring the VGF when there.

I'll be looking at all the information I can get my hands on over the next few days to make the decision that is best for us.

Thanks so much to all of you! Keep it coming!

It always amazes me how many happy DVC owners quickly recommend others do not purchase DVC but it is just the nature of the board and your question. You simply cannot ask your question and not get a "cancel" recommendation here (especially if you buy direct - finance - on a cruise no less). You are, to many, a "high risk" profile even though thousands of people will do the same thing and be very happy. Just accept that on this board. It is not personal, you are just being profiled by how you purchased and the fact you signaled any form of uncertainly by the very nature of your question. Many people who do the same purchase, the same way, will end up loving their DVC purchase. Some, however, will regret it, and those prompt such responses to cancel.

I believe the advice is all given in good faith.

However, it does not mean you made a mistake. In fact, buying VGF direct at this time was probably the best direct buying decision you could make. That being said, check out resale and do not assume it is all wonderful on that side of the purchase either. Resale has its own challenges and you should learn about those as well.

In the end, the knowledge you gain can only help you with your purchase as long as you do not overreact to any one piece of it.

 

[hab321]

I'm not sure where the OP lives, but in my opinion that could have an impact on keeping the contract or not. We just got back from a trip and before leaving, we swung by to talk to our DVC guide. We were with a friend who ended up getting discounted points at HH. It worked well for them and they weren't concerned about the 7month window at WDW resorts. While we were waiting for their paperwork to go through. We started playing with the idea of adding on points. We checked the add on price from OKW to VGF. $20 different pp. We ended up getting the points at VGF as the long term cost of maintanance fees ended up comperable to the price difference pp. I never thought I'd get a chance to stay a the GF or VGF, but now I locked it up and will be able to stay there at least a 5-7 nights per year. Since I live in FL it is easier for me to get there at the non-peak times.
So if the OP lives fairly close, I think 160 points could work just fine.

 

[goNDmay9]

To the OP. It has been mentioned a few times already, but I wanted to stress the importance of understanding the 7/11 booking window.

How far in advance do you all plan your Disney vacations? For our family, this was the biggest driver not only on where to buy, but whether to even buy at all.

 

[Deb & Bill]

The thing is, if you are uncertain in any way about this purchase, rescind and study it. You can always buy in again, even in a month or so after you study it. DVC will not deny your right to give them money because you rescind this purchase.

 

[iluvthsgam]

At the end of the day you shouldn't do something because you read it on an internet message board. All the advice in this thread is pretty good - but it has limited practical application because nobody knows you or your situation.

So read all the opinions and then think it over yourself and make a decision. But do it because you got all the facts and came to a conclusion, not because someone on here told you to "keep it" or "rescind it."

 

[ELMC]

At the end of the day you shouldn't do something because you read it on an internet message board. All the advice in this thread is pretty good - but it has limited practical application because nobody knows you or your situation.

So read all the opinions and then think it over yourself and make a decision. But do it because you got all the facts and came to a conclusion, not because someone on here told you to "keep it" or "rescind it."

Exactly.

It's clear that the OP is on the fence. So what is the worst case scenario if he rescinds, does his research, comes to the conclusion that VGF is in fact the way to go and then buys in a few months (most likely at the same price)? Now what's the worst case scenario if he keeps and realizes that the contract size/UY/home resort/price doesn't work for him? One is clearly worse than the other.

It's all about risk management, and there is little to no risk in rescinding. Not knowing the OP's situation, I can't see a way to advise that he keeps the contract. Really the two pieces of advice that one could give are rescind or do what you think is best. Anybody telling him to keep it without knowing all of the facts is being irresponsible, in my opinion.

 

[Dean]

I am not going to get into this again . I am sure any way you look at it there is still money to be saved .

True for some, not for others. Financing a luxury purchase or a timeshare (DVC is both) adds risk and reduces benefit. Whether it does enough of either to move the needle depends on specific situations but USUALLY it does.

 

[Snurk71]

I am not going to get into this again . I am sure any way you look at it there is still money to be saved .

I did a pretty detailed financial analysis when we first bought in - based on our always staying at GF. The math worked out really well for us. I have doubts that the analysis would be positive comparing to a value stay (which is all the OP has stated they've stayed).

Sent from my SAMSUNG Note2 using DISBoards

 

[ELMC]

I did a pretty detailed financial analysis when we first bought in - based on our always staying at GF. The math worked out really well for us. I have doubts that the analysis would be positive comparing to a value stay (which is all the OP has stated they've stayed).

Sent from my SAMSUNG Note2 using DISBoards

It's been mentioned before on here, but I don't know exactly where to point you to, that many analyses have been done and over the long term and barring ridiculous market fluctuations, no way has been shown for DVC to save money over staying in Values. So good point.

 

[disneynutz]

I did a pretty detailed financial analysis when we first bought in - based on our always staying at GF. The math worked out really well for us. I have doubts that the analysis would be positive comparing to a value stay (which is all the OP has stated they've stayed).

I did a detailed financial analysis but I failed to completely factor in the cost of going on an expensive Disney vacation every year and sometimes 2 or 3 times per year. Ownership and points are one thing but transportation, admission to the parks, hard ticket events, food, and Disney toys increase in cost every year and you will be paying these costs for the length of ownership.

Bill