Make a case for buying DVC if it makes sense.

[jade1]

I know a married couple around 30 that are getting nuts for WDW. They have gone 2 years in a row and split the week with Fort Meyers (parents winter there) and are very interested in DVC.

They plan to go every year forever.

They did Allsatars, then Carribean Beach, and now want to try BCV or BWV as they really like EPCOT and the short walk.

Anyway I have only purchased direct with 1/2 down and the rest over 1 year so I am not sure what a smaller resale would cost if they get financing on their own.

They have great credit but not a lot of cash. So does anyone have some examples of a monthly payment for a 50 point 75 or 100 point contract at BCV/BWV/VWL/BLT? Prefer BCV.

I just want to explain what they may be paying for the purchase, and then the yearly dues etc. Not exact just app for discusion/consideration. Thanks.

 

[ToddyLu]

We purchased direct 210 points at AKV in 2009 for $93 pp, financed direct for 10 years at 10.75%. Our monthly payment to Disney is $237 and monthly MF are $80 a month. So divide that by 4 and you have somewhat of a cost direct. Best money we have ever spent and I do not regret one dime--niether does DH.

 

[TDluvsDaisy]

Beach Club is currently running for $115 per point direct sales. Maint fees is $5.50 per point. I bought 130 points in June at $14,950 with 10% down. Paying my maint fees monthly at about $60 per month. We are paying off our purchase in Feb cause the interest hurts!

 

[michelleiada]

You cant buy a small contract direct from Disney. They have a minimum point purchase, I believe it is 160 points, at least it used to be. If they want a small contract (less than 100 points) they would have to purchase on the resale market and get their own financing. Resale is much cheaper anyway and in my opinion, the way to go. Check out the resale brokers web sites and you will see the contracts that are being sold. Most Beach Club contracts are listed for anywhere from $70-$85 per point depending on the contract. The larger contracts list for less per point, the smaller contracts are usually more per points. I am in the process of purchasing 250 points at Beach Club Villas and I am paying $68 per point, seller is paying closing cost and we are splitting the maintenance fee for 2012. Maintenance fee at Beach Club is $5.50 per point and is due at the beginning of every year. I am paying cash so I can't offer you any information with regards to financing. Hope this info helps you out.

 

[Dean]

I know a married couple around 30 that are getting nuts for WDW. They have gone 2 years in a row and split the week with Fort Meyers (parents winter there) and are very interested in DVC.

They plan to go every year forever.

They did Allsatars, then Carribean Beach, and now want to try BCV or BWV as they really like EPCOT and the short walk.

Anyway I have only purchased direct with 1/2 down and the rest over 1 year so I am not sure what a smaller resale would cost if they get financing on their own.

They have great credit but not a lot of cash. So does anyone have some examples of a monthly payment for a 50 point 75 or 100 point contract at BCV/BWV/VWL/BLT? Prefer BCV.

I just want to explain what they may be paying for the purchase, and then the yearly dues etc. Not exact just app for discusion/consideration. Thanks.

If they bought BWV resale for around 100 pts at $65 a point and financed through timeshare lending.net, they'd pay about $75-80 a month on the loan at 10 years (just under $1K a year) plus the yearly fees which would be going on another $600 a year, maybe $1500 total a year for 10 yrs (fees go up) then just fees after that. I have no way of knowing their situation, nor do I care to, but in general I think financing a luxury purchase such as a timeshare is always a bad idea and only compounded negatively if they have any other debt.

 

[Missyrose]

You cant buy a small contract direct from Disney. They have a minimum point purchase, I believe it is 160 points, at least it used to be. If they want a small contract (less than 100 points) they would have to purchase on the resale market and get their own financing. Resale is much cheaper anyway and in my opinion, the way to go. Check out the resale brokers web sites and you will see the contracts that are being sold. Most Beach Club contracts are listed for anywhere from $70-$85 per point depending on the contract. The larger contracts list for less per point, the smaller contracts are usually more per points. I am in the process of purchasing 250 points at Beach Club Villas and I am paying $68 per point, seller is paying closing cost and we are splitting the maintenance fee for 2012. Maintenance fee at Beach Club is $5.50 per point and is due at the beginning of every year. I am paying cash so I can't offer you any information with regards to financing. Hope this info helps you out.

Actually, Disney has reportedly relaxed their minimum buy-in (even for new members) to 50 points.

But for a couple such as the OP's friends, they would likely be better off saving for a year to save enough cash to buy a 50-100 point contract outright via resale so they don't pay any interest charges.

 

[jade1]

Good grief-would help if I would check back on a post I made. Sorry about that. Thanks for the very good information. I am planning to meet with them end of this week and see what kind of reaction they have, but I know they will appreciate the input.

 

[jade1]

If they bought BWV resale for around 100 pts at $65 a point and financed through timeshare lending.net, they'd pay about $75-80 a month on the loan at 10 years (just under $1K a year) plus the yearly fees which would be going on another $600 a year, maybe $1500 total a year for 10 yrs (fees go up) then just fees after that. I have no way of knowing their situation, nor do I care to, but in general I think financing a luxury purchase such as a timeshare is always a bad idea and only compounded negatively if they have any other debt.

Thank you-this is about as exact as I was looking for, obviously 50 points would cut these in half-if they can expect maybe 3 nights each year at WDW studio and 4 nights at F Myers etc.

 

[jade1]

Beach Club is currently running for $115 per point direct sales. Maint fees is $5.50 per point. I bought 130 points in June at $14,950 with 10% down. Paying my maint fees monthly at about $60 per month. We are paying off our purchase in Feb cause the interest hurts!

Thanks-so your scheduled payment on the principle/interest was scheduled for 10 years? But without paying that off early the payment would be how much?

 

[skirby]

A simple loan calculator can be found here
Resale loans seem to be around 10.75% right now. Find a suitable resale listing and add up the total amount financed (points/closing/MF). For ten years, the number of payments would be 120. Press the "Find It" button next to Periodic Payment field to see what the payments would be.

If you want to see what adding a little bit to each monthly payment will do, Bankrate has a good calculator here
It's got a little bit more detailed inputs, though.

 

[Muffley]

I puchased 100 points at BCV on the resale mkt in 2004 for ~82pp...with closing costs I think the total purchase was about $8800...we used a home equity LOC that was low rate and tax deductible and paid it off in a few years...that's the way I'd go if I were you/your friend

 

[cfw213]

We bought 160 pts at $60 a point and financed through timeshare lending...we put 20% down in cash so got 12.9%. We did 5 years rather than 10, our payments are $179 and dues are $65 or so a month.

Just FYI, closing costs were almost $900, since we had financing.

 

[jade1]

We bought 160 pts at $60 a point and financed through timeshare lending...we put 20% down in cash so got 12.9%. We did 5 years rather than 10, our payments are $179 and dues are $65 or so a month.

Just FYI, closing costs were almost $900, since we had financing.

Not bad esp for 5 years and 160 points is a nice size.

 

[super mike b]

.....so got 12.9%.