Newbie questions

[Tigerkiet]

Hi,
Dh and I are looking into DVC. I like the idea of monthly payments towards almost 40 years of family vacations. I can't think of a better investment. We will be staying at BWI at the end of feb. and plan to go through the DVC tour at BCV. Our top 2 resorts to buy into would be either BCV or BWV, because we love EPCOT! The problem is we can't really afford it right now. (we could find a way I am sure) I know they are running the $10 off per point for selling back thing. Which sounds pretty good, although a little confusing.

Most of my questions have been answered by reading this board.
But I do have one,
has anyone rented their points on ebay? And what all is involved with renting points? can those of you who rent tell me your stories? (I'm thinking that we could rent some points to offset costs.)

And one more thing, could anyone tell me what they're monthly payments are in total for say 150 or 170 points? And how long is your loan?
I know it's nosey, but DH needs hard #s and he would trust it easier from a third party (ie., not me or disney) I want to do this, and I know he just needs a little push!! (okay, so do I, it's a big commitment)
I hope I didn't break any rules by asking something sort of personal.

 

[Cruelladeville]

I have rented my points on the rent/trade board here at the DIS board, and it's easily done. I wouldn't go thru Ebay. I guess I just think this board has more informed people, even if they are new I rented my points last summer, and it takes a lot of trust to give people your points, and expect them to pay you when they say they will. If you are planning on renting points, you must have about 3 days where you do nothing but answer emails--you can't actually work or live or anything during this time, because you must be able to call MS to ask about availability when you get an email. Most people who contact you will think you are someone with 24 hour access. You have to be good at accounting, and you will have to send about 100 emails to people who are not really serious about renting your points. It's difficult and time consuming and you will earn every cent you get. I did make nearly $2000, though I don't know if I would do it again.

As for your question on payments, we did one contract of 170 points for 10 years, and paid $130 per month. On our 250 points we paid $240 for either 5 or 7 years, I forget which. On our 105 points we paid $90 for 10 years. We paid extra on all of them, paying them off in 3-4 years. On top of that is maintainence fees of about $4 per point, deducted monthly from our checking account. We bought all our contracts from Disney except for one; on resales you usually have to find your own financing, except for the Timeshare Store. All finance rates are around 11%. I am nearly paid up on one contract, and have recently purchased a new one, to bring my total to 700 points. If you bought a 150 point contract, you could rent your points out every other year, but remember that your total intake will be no more than $1500 maximum, which doesn't completely cover your payments and maintenance.

The incentive program is that you give Disney back your points for the first year. In other words, you give them your first 150 points and they take $1500 off the purchase price. This makes the most sense if you got a March use year, and this is January, so you would get your second set of points on March 1 to rent out or to go on vacation yourselves. If you are staying at BWI, your nightly room rate would easily pay for DVC. Buying DVC means that you are getting a room for less than $70 per night, including financing and maintenance costs. It's your most cost-effective way to vacation. By all means, take the tour when you are at BW. They can answer all your questions. If you go into the center at BW you might want to talk to Ron Brumbaugh, our guide. He's honest and VERY low-pressure, and say hi from me (TClapper)

 

[Tigerkiet]

thank you so much cruelladeville! You definitely gave me a lot to consider.
So you mean if I got a march use year they'd buy back points I would be banking? And I'd still be able to take a vacation this year (after march) without borrowing? That seems like it's not that great of deal for Disney.
Does anyone know how long MB will be going for?