Looking for DVC Answers

[MUDisneyCouple]

We have gotten the video, and are planning on taking the tour when we visit WDW on our next trip in August. We're a little confused and just have a couple of questions, so we thought we would ask all of you the DVC experts.

1) If (God forbid) you can only make it down to Orlando only once a year is it still worth getting a DVC membership?

2) Right now we're a family of 2 but...things may change...how many points should we look at getting? Note: our extended family is very large and my be planning to tag along if we get a DVC membership, should this change our thinking?

3) Can you put down a large down payment and get some money off of your yearly lease amount?

4) Can you rent DVC villas out from other DVC members without being one yourself?

5) We've experienced the "bad timeshare" presentation before, are there any hidden pitfalls or pressure that we should look for?

We know these are alot of questions but thanks for helping us rookies out, afterall you are the experts!

 

[chalee94]

1) If (God forbid) you can only make it down to Orlando only once a year is it still worth getting a DVC membership?

the general rule is that as long as you plan to travel to orlando at least every other year, DVC is usually a pretty good deal.

2) Right now we're a family of 2 but...things may change...how many points should we look at getting? Note: our extended family is very large and my be planning to tag along if we get a DVC membership, should this change our thinking?

you can start as small as you need if you look resale contracts. use the point charts (link at the top right corner) to estimate your requirements. (and...ummm...just don't tell your extended family... )

3) Can you put down a large down payment and get some money off of your yearly lease amount?

sure.

4) Can you rent DVC villas out from other DVC members without being one yourself?

yes. see the board below called "rent/trade."

5) We've experienced the "bad timeshare" presentation before, are there any hidden pitfalls or pressure that we should look for?

DVC tours are "notorious" for being low pressure and avoiding gimmicks. they may offer you a "limited time only" deal but that's about it. they may offer you fastpasses or ice cream or not much of anything for taking a tour. they seem to be pretty confident in their product...

(it is true that trading out to other locations and some of the benefits of ownership may be a little more complicated than a salesperson makes it out...please read the boards for many useful tips on benefiting from DVC.)

here's another thread to review for more information: http://www.disboards.com/showthread.php?t=1424498

 

[disneynutz]

3) Can you put down a large down payment and get some money off of your yearly lease amount?

Do you mean the yearly dues? Dues are not discounted.

 

[MUDisneyCouple]

Not very clear, eh? I think we were wondering if you could pay off the total amount due (you know if you pay more on your house payment you own your house quicker sort of thing). Is all you owe are dues?

Maybe the real question is: When is your membership over? When you pay in full? When you sell it?

Dues are another question...are they factored into monthly payments or are they seperate?

Thanks for helping us clarify...I think I maybe going in circles

Also, thanks to chalee94 for responding with some good info and reassurance! We would love to call a small piece of Disney "home"!

 

[ilovefh]

Not very clear, eh? I think we were wondering if you could pay off the total amount due (you know if you pay more on your house payment you own your house quicker sort of thing). Is all you owe are dues?

Maybe the real question is: When is your membership over? When you pay in full? When you sell it?

Dues are another question...are they factored into monthly payments or are they seperate?

Thanks for helping us clarify...I think I maybe going in circles

Also, thanks to chalee94 for responding with some good info and reassurance! We would love to call a small piece of Disney "home"!

You make two payments....one is a one time payment for your timeshare (or more than one if you finance) and the other is the yearly dues to keep the resort up and running. (you pay these every year, and they are based on a price per point. so hypothetically your dues are $3/point and you own 200 points you pay $600) They are two separate things. Example: I financed part of my purchase so I pay a set amount on the 15th of the month towards my purchase price and my dues I pay on the 1st of every month (you can also choose to pay your dues in one payment/year). Like everything else in life you can pay the whole purchase price up front if you want. You only have to put 10% down to finance through Disney.

The DVC memberships have an expiration date. Old Key West, Beach Club, Wilderness Lodge, Boardwalk, Vero BEach and Hilton Head have end dates of 2042. Saratoga Springs is 2054 and I believe Animal Kingdom is 2057, someone correct me if I am wrong. At this point no one is sure what will happen when the current contracts end.

Hope this answers your question!

 

[hrsmom]

Maybe the real question is: When is your membership over? When you pay in full? When you sell it?

You can purchase your points in full on day one or you can finance them (and you can put down however much you want and there is no penalty for paying your loan off early). When your contract ends depends on which resort you buy - we own at SSR and our contracts ends 2054. It would also end if we sold it.

Your dues are yearly fees and you can pay them monthly if you choose. Your dues are based on how many points you have and also vary from resort to resort. I can't remember what ours is per point (I'm sure someone on here has that info), but it's roughly $4 per point owned.