Newbie interested in DVC

[QJ411]

Hi everyone,

During our last trip to WDW, we spoke w/ a DVC CM and made an appointment to look around. But due to our schedule (I was sick and we were leaving the next day), we had to cancel.

We are very much interested in learning about DVC and perhaps making future purchases in DVC. But we have NO clue as to what the prices really are and if it's worth it.

We have APs and w/ that, we think the codes they release are great for the resort stays, but overall wouldn't DVC be a better deal in the long run? We'd love to also visit Vero Beach or Hilton Head as well.

What's the minimum price and the maintenence fees? We're totally clueless, (we ordered the video and loved it, but we're still in the dark w/ the prices).

If you can offer any information we'd really appreciate it. (When we cancelled our appointment last time in May, Bob - the DVC CM had asked when we'll be returning, when we said in December, Bob said we really should consider DVC because it can start saving us money each trip...) Please help. THANKS!

 

[calypso*a*go-go]

Welcome to the DVC Board!

As you've probably already realized, this board is a wealth of info. on the whole DVC process. Have you had the opportunity to find out about the different resorts and decide which on appeals to you the most? If not, that's the first place to start as the rule of thumb here is buy where you want to stay!

If SSR is your first choice, you would probably need to buy directly from DVC as it's newness hasn't really created any resales on a regular basis yet. The minimum purchase @ SSR is 150 pts. The current price is $95/pt with a couple of different incentives that would reduce the cost slightly. Other benefits include no closing costs, easy financing at decent rates, and an extra 12 years on the contract.

Any of the other resorts would be available through the resale market and vary in price depending on where, number of points available, etc. Everything is negotiable in your offer but most people have had success with the seller paying the transfer fee and the buyer paying closing costs which can be anywhere from approx. $275+ depending on the number of points involved. Who pays the maintenance fees is usually determined by how many would be available for the buyer to use. In our case, there where 64 points available for '04 so we only paid the fees ($3.69/pt) on those points. You can probably find a link with all the maintenance fees by using the "search" option. Benefits of purchaing resale include lower cost per point, buying into existing resorts other than SSR, and no minimum point requirements.

I hope I've answered some of your questions. Don't be shy -- just keep asking!!!

 

[QJ411]

THANKS A BUNCH for all the info!!! I think this time when we head down, we'll definitely stick w/ our appointment for a walk through and see our options!

Thanks again!

 

[las3888]

We were in the same boat - going to Disney with codes maybe 1-2 times a year, but we finally pulled the trigger and bought. We are happy with our decision. We felt like we would be limited as to where we would stay (we like to sometimes stay on the monorail or at AKL or WL), but we might do a 'cash' trip on the side down the road here.

I will say it is REALLY NICE when we go on points that we aren't killing the pocketbook. We only had some meals and incidentals on the room charge and with points from our Disney reward Visa, we were pretty much covered. Now, of course that isn't taking into effect the cash outlay that we had to pay up front.

BTW, Bob sounds like a friend of ours who is semi-retired from around our neck of the woods in Illinois (although there could be another Bob). He tells us that he often uses DH and I as an example to prospective buyers because we thought about buying into DVC for quite a few years before we pulled the trigger. He tells people how much money we could have saved if we had bought years ago!

Good luck with your DVC purchase research!

 

[geffric]

we bought DVC years ago.. it has helped our family be in a 1 bedroom with a full size washer and dryer and kitchen as opposed to a hotel room., we can have frozen water with us and save over $20 per day if we had to buy water at the parks.... we eat some meals in the room so we can sample and enjoy meals at the WDW wonderful restuarnts.. my kids don't have to sleep on top of each other in the same bed and DH and I have a chance to enjoy our vaction too.... . we stay at significantly better resorts than we could afford due to DVC..

does that help??? PM me if you would like me to tell you our expercince over the past years.. we bought in 1993...best investment we have made so far..

 

[QJ411]

Thanks everyone for the info. It sounds like it's great, I can say it sounds better than anticipating AP codes (like we are NOW) for each trip just to book the rooms!

If we meet w/ the DVC CMs, there's no pressure right? I hate feeling pressured to buy something, they say it's no pressure, but I just want to be sure!

Thanks again!

 

[Mike]

Originally posted by QJ411
If we meet w/ the DVC CMs, there's no pressure right? I hate feeling pressured to buy something, they say it's no pressure, but I just want to be sure!

Thanks again!

This may vary from guide to guide but in general I think this is a very low pressure program. SSR seems to be selling better than expected so there is no need for high pressure tactics. I toured in June and it was very low pressure - more of an informational session. I wasn't going to buy just then anyway so I was prepared to hold my ground - but I never had to. My guide suggested that we go enjoy the rest of our vacation and think it over. He never even followed up with a phone call. He was very good.

We ended up going back to the WL and I went online and found a great resale contract at OKW and we jumped on it. I still feel bad that I wasn't able to make a sale with my guide as he was really nice and helpful to us. But the savings I got by going resale were significant.

 

[las3888]

I don't think the sales pitch is real high pressure. We have sat through it at least twice that I can remember. Our first 'guide' we really didn't care for. If anything, I felt our guide just didn't really care one way or another what we did. We eventually got a new guide, and while she's not our favorite person either (okay, we're picky), we didn't feel pressure to buy from her. We did have alot more interest as we sat and listened though, and you probably will too.

I believe they will make some supposed claim that if you don't buy before you leave for home or maybe it was a few days later, that the cash back incentive ends (at least from what I remember). If it's any consolation, we thought long and hard and resisted at least twice. In the end, we bought 2 resales, so the guides weren't the final factor in reeling us in by any means. To us, DVC really sold itself to us after trip after trip. I will say that DH who is a major numbers cruncher still felt that realistically with codes, we can still do better (getting interest on the initial cash outlay etc.), but he finally caved in, and while I think he still thinks it's not necessarily that it's cheaper to have bought DVC, we just enjoy I guess 'owning a piece of the magic'.

 

[puffkin]

We just bought 150 points at SSR in early July. We decided to buy through Disney because SSR has the extra 12 years (important for us because we are 24 and 26) and the financing (we don't have a lot of equity in our home yet and I didn't want another credit card). I had done a lot of research ahead of taking the tour, so I was pretty much decided on buying through Disney rather than a resale.

The presentation was very low key. There wasn't a lot of pressure. The only pressure point was that if you wanted to take advantage of the VIP financing rate and magical beginnings, you had to leave a deposit that day of $500. They would then fed ex the package to your house and then you would have two weeks from that point to decide if you wanted to proceed. If not, then you could get your $500 back. This is what we did since we were pretty certain we would buy in.

Before you go back, I would suggest researching your options regarding buying resale or through Disney. There are lots of threads on that topic. Have as much information ahead of time so that you can make an informed decision and not get caught up in the moment.

 

[idratherbeinwdw]

Along with these wonderful boards I found this DVC Primer on Allears to be very helpful:

http://allearsnet.com/acc/dvc.htm

I bought my resale in June, just a few more weeks to my first trip as a "real" member! (after renting just once in May I was hooked).

 

[QJ411]

Hmm...sounds easy enough. But now, I have some silly questions, like Puffkin we're 27 and 25, so w/ SSR and the add'l 12 yrs sounds good, but I we choose SSR, does this mean we can only use those points to stay there or can we use the points elsewhere.

Also, I we buy through Disney, is it like another mortgage? (W/ the whole closing ordeal) Or is like an additional loan (like a home equity kind of deal where it's not as indept w/ paperworks?). THANKS A BUNCH for everyone's help!!!

PS: How much is a point for SSR? THANKS!!

 

[ScottNBecky]

My wife and I just did it (we are 33) and there is some paper work to be completed but DVC pays all closing costs. We signed everything during our Open house @ DVC. It was pretty hastle free really. They have everything filled out for you once you decide the point total you want to buy. Then they explain it all and yuo sign like 20 papers, but thats it. Any other Q's email me.

 

[mom_rules]

Another newbie question here too! Do they actually take you on a tour of the resort you are interested in?

Can you use your points to stay at let's say YC but your home resort is SSR? How would that work?

 

[puffkin]

QJ411

To answer your questions:

- You buy points at your home resort (for us SSR). You can book your trip 11 months in advance at your home resort. If I wanted to stay at BCV, I wouldn't be able to book there until 7 months in advance. You get 4 months priority booking at your home resort. Most people don't seem to have a problem getting other resorts, but you might have to be somewhat flexible. We thought SSR is beautiful, so if we couldn't get another resort one trip, we are more than happy with our home resort.

- The paperwork is similar to a mortgage, but not quite as indepth. They fill everything in, so all you have to do is sign and date it. We had the paperwork sent to our house, and we looked over everything and then sent it back in the provided fed ex. It was very simple and easy. The nice thing about financing from Disney is that they don't report to any credit bureaus, so it won't show up on your credit report. Disney pays the couple hundred dollars of closing costs.

- The price per point is $95 at SSR. We sold back our 2004 points for $10 a point, so inessence, we paid $85 a point, with our first allocation of points coming in June of 2005. They call this magical beginnings.

Hope this helps. Any other questions, just ask or PM me.

 

[tamu91]

Originally posted by QJ411


Hmm...sounds easy enough. But now, I have some silly questions, like Puffkin we're 27 and 25, so w/ SSR and the add'l 12 yrs sounds good, but I we choose SSR, does this mean we can only use those points to stay there or can we use the points elsewhere.

Also, I we buy through Disney, is it like another mortgage? (W/ the whole closing ordeal) Or is like an additional loan (like a home equity kind of deal where it's not as indept w/ paperworks?). THANKS A BUNCH for everyone's help!!!

PS: How much is a point for SSR? THANKS!!

As others have mentioned, you get 4 mos head start at your home resort over the others and this is one of just a few 'home resort' advantages, maintenance fee rate being the other, that DVC offers.
SSR does have the extra 12 years but that is reflected in the price, $95 pts. vs $84 pts., that Disney charges so I think the question goes back to which resort you find it most convenient for you.

 

[las3888]

Just for comparison I think resales at BWV, BCV, VWL are running around $74, $75 per point, but it depends on the package. Some points are all gone and even borrowed against the next year, but some resales (like the 2 we bought) include this year's points and even a few that were banked from last year. This usually drives the resale cost up a dollar a point or so.

Another advantage of buying resale is that you can start at a smaller package if you are unsure. We started at 100 points, which you can't do when you buy direct from Disney.

The key advice that we were given on the boards is really right-on. Buy where you want to stay. We are trying to re-arrange an upcoming trip we have in a few months, and since the 7 month window has passed, our home resort is totally and completely booked up for most of Oct. (wine and food festival etc.). I think the only other place we can get into right now is OKW.

Good luck with your decisions!