Member add-on discount Q

[Hypaflex]

Hello all,

I was wondering if anyone can confirm or deny that once you buy either a resale contract or direct contract you have to wait one year until you are able to buy additional direct points via member add-on discount?

I am considering buying Poly resale first, then 150 direct for perks. However, I read from someone there is a one year waiting period, so I am nervous about purchasing the resale (and the timeline related lol) then when I go to buy direct there is a waiting period of one year where the price will definitely have increased considerably.

Thanks in advance, everyone!

 

[Genie+]

Hello all,

I was wondering if anyone can confirm or deny that once you buy either a resale contract or direct contract you have to wait one year until you are able to buy additional direct points via member add-on discount?

You do not have to wait a year.

The existing member discount will work as soon as the resale closes, and DVC has even allowed the discount for people who just passed RofR.

The confusion may come from financing direct. That has some importance at the 1 year mark.

I am considering buying Poly resale first, then 150 direct for perks. However, I read from someone there is a one year waiting period, so I am nervous about purchasing the resale (and the timeline related lol) then when I go to buy direct there is a waiting period of one year where the price will definitely have increased considerably.

Thanks in advance, everyone!

No worries here. You can buy the Poly resale, and in the meantime touch base with a direct guide who will likely work a timeline out with you so that you can get Existing Member pricing asap.

 

[Merida1]

I purchased direct points at Poly in May, 3 weeks after receiving my DVC membership number for a resale purchase, so there is definitely no waiting period.

 

[WDWEPCOT]

I was working with a guide Awaiting my resale contract to go through She actually seen my number pop up before I was notified it was there so I could buy my points direct but in order to get the discounted financing you have to be a member for one year so you can buy direct points as soon as you get your number but in order to get better financing you have to be a member from one year But you do get the DVC discount the minute you get your number Welcome Home

 

[Girlstar30]

The reason people such as myself want to wait 1 year is if they need to finance, their credit is not pristine, and they want to automagically get the 8.99% finance rate which is a huge difference from Disney's highest financing rate (dont know what that is, but pretty sure its over 15%)

You dont have to wait if you dont want.

 

[Hypaflex]

Thanks everyone!

Can anyone answer if you pay cash for resale, can you then get good financing immediately where you can add on direct?

 

[Girlstar30]

Thanks everyone!

Can anyone answer if you pay cash for resale, can you then get good financing immediately where you can add on direct?

No, buying resale has nothing to do with financing thru Disney.

The rates are based on your credit. They will run your credit and give you the number. If you have great credit you'll get the best rate. If not and you want the best rate you need to wait 1 year.

 

[Hypaflex]

No, buying resale has nothing to do with financing thru Disney.

The rates are based on your credit. They will run your credit and give you the number. If you have great credit you'll get the best rate. If not and you want the best rate you need to wait 1 year.

Thank you so much for the reply. I am just lost on how waiting a year changes anything regarding credit, especially if you are planning on paying cash for your first contract

 

[Girlstar30]

Thank you so much for the reply. I am just lost on how waiting a year changes anything regarding credit, especially if you are planning on paying cash for your first contract

I completely agree. I told my guide this too. I was like I have three resale contracts that I put down payments on and paid the maintenance dues up front (except one where the seller paid) before closing so obviously i had the cash to do this. On one i even paid two years worth of dues upfront because it had 2024 and 2025 points and that was needed to close.

Disney wont see how well I manage paying from here on out because I wont have a long history of paying dues again that they will see before granting me the best rate. I already paid off one and they wont budge. It makes no sense. Maybe they're hoping impatience or fomo gets the best of you and you cave and if not they offer the best rate to incentivize someone who otherwise will not pay that crazy rate on such a high loan.

The thought that I can get Riviera right now with a simple phone call has tempted me greatly, but I must hold strong

 

[davidhr]

Thank you so much for the reply. I am just lost on how waiting a year changes anything regarding credit, especially if you are planning on paying cash for your first contract

Because if you pay cash your resale, your transaction is with someone else and not DVC.

If you pay cash direct, they still don’t know if you got a large sum and blew it in that contract and you’re horrible about regular payments.

They want to see some history of timely payments from you. That’s why they require a year so you should have paid dues twice with no late payments before they “trust” you enough to give you the better rate without checking your credit.

 

[Hypaflex]

Because if you pay cash your resale, your transaction is with someone else and not DVC.

If you pay cash direct, they still don’t know if you got a large sum and blew it in that contract and you’re horrible about regular payments.

They want to see some history of timely payments from you. That’s why they require a year so you should have paid dues twice with no late payments before they “trust” you enough to give you the better rate without checking your credit.

Great explanation. Thank you. So, basically you have no chance of the better rate until you show a year of regular dues payments - whether that’s your resale or direct contract - even if you have a pristine credit score?

 

[davidhr]

Great explanation. Thank you. So, basically you have no chance of the better rate until you show a year of regular dues payments - whether that’s your resale or direct contract - even if you have a pristine credit score?

If you have an excellent credit they’ll give you a slightly higher rate than the premium for owners with a year as far as I know.