Now the big ?? DVC direct or Re-Sale

[soluc]

Since we can't take advantage of the incentive program for BCV. We've now been thinking maybe we should do re-sales.
What are your opinions?
Any info on re-sales would be appreciated.
If you could get a better deal through re-sales, why would you go through Disney?

Thank-You

 

[Richyams]

One very good reason to go resale is that most of the resorts aren't available through Disney.

OKW, my personal favorite, is only available through resale.

The resort that you expect to spend the most time in should be your home resort. If that is BCV, buy through Disney, if its not, buy a resale.

Home resort is VERY important. Buying where you plan to stay is about the only question you need to answer.

Read here as much as you can about the resorts.....whatch out though, there is this kook here who claims there is only one 'true' DVC resort.

 

[Bennet]

Originally posted by Richyams
..whatch out though, there is this kook here who claims there is only one 'true' DVC resort.

LOL wonder who that may be?

Rich is correct pick your resort and that will tell you if you should go with Disney or resale. We have two contracts at BWV bought one from the mouse and one resale. To us -who we bought from doesn't matter where the points are does. (It has nothing to do with the guy in the GV@OKW cooking pig feet I swear )

So what floats your boat soluc?

Parking, access to parks, room size, SAB...

 

[RickW]

Other than wanting to buy at the Beach Club, the other reason to buy through Disney instead of resale is if you need financing. Getting financing through Disney is pretty easy (they don't have much to lose if you default), but getting financing for a resale can be a challenge.

Fortunately, we had the cash and decided that OKW was the best option for us, so we bought an OKW resale in 1999.

 

[Bennet]

Your local bank can do a home equity loan at a better rate & may have tax advantage over mouse financing.

 

[dougmatt]

Only 3 things to consider when making the decision (I have done both).

1) When do you want to start using the points (resale could take 1- 2 1/2 months or longer to close and be registered at MS (espescially if the current owner has ressies!) if you can wait then I would go resale if

2) You can find a resale cheaper than DIS.. IE Dvc is selling HH and VB points at 65 if you want points there, it may be cheaper to buy through them if you can't get owner to pay closing. and finally:

3) resort... If resort matters you will have to go resale to get any that are sold out, likewise BC isn't very available via resale yet.

HTH

Doug

 

[soluc]

Hmm what floats my boat?
Access to parks is the first thought that comes to mind. From what I've read VWL, BWV or BCV would probably suit our family.
I really want our home resort to be one of these(mind you we still have yet to physically see these resorts) We are staying at WL in June.
We're going on the Disney Wonder in Dec and it would be great to at least pay for some of the cruise with points.
I'm assuming we can't apply them to our trip in early June right?

Do you always try to get the owner to pay closing costs on a re-
sale?

Thanks for all the info.

 

[Terry S]

Richyams.... Too Funny!

Soluc... Well your heading in the right direction... Definately buy where you plan to stay most often. If it is VWL or BWV you will have to buy resale or if its BCV you will have to buy from Disney. You have decided you want one with park access so now go with whichever one has the themeing and decor you like the best, this seems to be the next deciding factor for most people after location. (Someone just did a poll on this). Your best bet is to visit them in person. There is also plenty of sites with pictures of each of them if you really want to purchase before visiting in person.

 

[DisneyKidds]

soluc - once again, the wonderful people on these boards have the bases covered. They were a great help when we purchased a couple of resales a few months ago. BTW - we have been very happy with our resales.

As has been said, buy where you want to stay. If that means anything other than BCV than resale is the way to go.

The reasons to buy direct - first, you can make reservations right away. With a resale you will have to wait 4 to 6 weeks. Second, DVC provides easy financing. Not the cheapest, but easy.

If you would be happy with BCV but are considering resale based on the economics, just make sure you do the math. A resale between $60 and $65 a point with all 2002 points (and maybe even some banked points) is a good (or maybe great) deal. However, a resale at the same price with no 2002 points available, or points borrowed, may not be any better deal than thru DVC.

 

[crisi]

You may or may not save money when going resale. You will pay some closing costs. And because there are lots of resales out there with their points borrowed into next year, you have to pay attention. You will have to be patient if you want something specific - you will need to shoot for a "range" (BWV, Spring use year, 200-250 points at less than $65 a point with most points available, for instance) and not something specific (220 points exactly with an April use year at BWV at $61 a point with all points available. The more flexible you can be, the quicker you will find a resale that meets you needs.

Sent the final payment and paperwork in for our resale yesterday, looks like it will have been about two months for us from contact to being able to make ressies. But since we are planning an Oct 2003 trip, that isn't a big deal for us. So it does move a little slower.

(You also miss out on any freebies the sales guides are giving away).

 

[soluc]

Thank-You for all the information.
It was funny, talking to the guide yesterday he said to me "You seem to know a lot about DVC already" I told him, only what I've learned off this website! He thought it was great that there is so much info available (probably makes his job of explaining so much easier!).
Thanks Again and I'm sure I'll have a ton more questions that will pop into my head!

 

[Laurabearz]

Originally posted by crisi
You will have to be patient if you want something specific - you will need to shoot for a "range" (BWV, Spring use year, 200-250 points at less than $65 a point with most points available, for instance) and not something specific (220 points exactly with an April use year at BWV at $61 a point with all points available. The more flexible you can be, the quicker you will find a resale that meets you needs.

THis is exactly what we did. We emailed Jaki (japetz@attglobal.net) and told her we wanted a BWV resale between 170-270 points with spring/summer UY. It took a couple of weeks but we got a sweet deal ( 65 PP...with closing fees included) with lots of banked points. THis contract never made it to the public.... I had first dibs

Finding the prefect resale is do-able, you just need to be paitient AND contact a resale rep (as you can see I highly recocmend Jaki) ALl the really good resale contracts never make it to any website.

HTH and keep us posted!

 

[Jon99]

Someone mentioned that financing is often a problem with a resale... Why???? Are banks not real quick to give out loans for DVC????

From what I have seen so far, while buying thru Disney is more expensive up front, their financing is cheaper which will probably even things out over the long term...

 

[crisi]

For banks it will probably be an unsecured loan. Some of the resellers can help make financing arrangements. Your options

1) Pay cash (my favorite). No interest, no payments.
2) Home equity loan or line of credit (probably the lowest interest rate - mine is well below Disney's. )
3) Buy from DVC and use DVC financing (interest rates aren't bad, but I don't think they are great either)
4) Reseller helps find financing (some people have reported getting rates that closely match Disney's)
5) Arrange for a loan through your local bank. Some will balk with the word "timeshare" involved. Interest rates will vary.
6) Arrange for a personal loan. (i.e. Mom and Dad, its the opportunity of a lifetime, and with your help...)
7) Credit card financing. Some people have good rates on credit cards - in some cases, excellent rates for six months, and if you can pay it off in six months (or play the credit card transfer game), this can save you a lot in interest.

A home equity loan or a DVC loan MAY allow you to take a tax deduction on the interest. Obviously, not everyone has cash, a home to take a home equity loan on, or parents willing to float them $10k.

There may be some more ways to finance. You may want to talk to your bank before you begin looking at resale contracts - or talk to the resellers.

 

[JonHM]

I wholeheartedly agree with Rich on 3 points :

1) that home resort is VERY important,

2) that you should buy where you want to stay the most, and,

of course

3) that there is some kook here who claims that there is only 1 'true' DVC resort...

That was too funny, Rich - excellent post.

Anyway, Soluc - I just wanted to ask what you like to do the most in your trips to WDW - are there certain parks that you like to visit more than others? Do you prefer more action, more quiet, or somewhere in between?

Just trying to help you narrow down between the 3 that you said sounded like they interest you the most.

 

[joepoe]

We've done it both ways. Buying through Disney is easy, there are no closing costs (about $4-500 bucks) and the close is quick. Points become available as soon as your check clears! It only took a couple weeks. Disney financed us over 10 yrs.

We bought through the Timeshare Store. We did our homework and shopped around and settled on a contract through them. We got 232 pts for $58 a point at OKW, and total time from when we sent in our down payment to when we closed and could book a trip was about 8 weeks. We paid through our home equity line of credit. My main message is have fun shopping, do your homework and you will make the best decision for your situation.

 

[soluc]

"Anyway, Soluc - I just wanted to ask what you like to do the most in your trips to WDW - are there certain parks that you like to visit more than others? Do you prefer more action, more quiet, or somewhere in between? "


Well considering our children are 3 and 5 I'd say for now the MK RULES! BUT in later years Im thinking of the resorts near Epcot/Mgm. OKW seems to be too quiet and out of the way for our liking. Then again, we've yet to see it. We might go there next mnth and totaly fall in love with it!

BUT..

As much as we'd love to save $$ on a re-sale I know what we are like and if we are as pleased as I think(know) we'll be, I'm sure we'll sign the dotted line right there and then for BCV. It would be just too painstaking to have to wait until we got home(after DW we are going Canada to visit relatives for 3 weeks), put in an offer on a re-sale after searching for the right one, then wait another 2months for the deal to close!



"lightbulb" I think my question has just been answered

Thanks again for all the help, you guys are great!

 

[Mickmse2002]

We bought our first contract from DVC, 200 points at BWV. We have never stayed at BWV so I am not so sure that where you stay most should be your home resort. We have stayed at OKW three times now on our points and have never had a problem with availability. We just recently added another 150 points at BCV, again through DVC. We preferred doing it that way for ease of financing, the incentives, and no mental stress waiting to see if DVC would exercise their ROFR.