OK! I read FAQ and I'm still clueless!

[dutton]

I understand that DVC is purchasing points for certain hotels. Ok, so here are my ques.
1. If you buy 200 pts, then you are getting 200 pts/yr. until 2042?

2. What kind of accom. do you get w/200 pts?

3. What are details of the tour?

4. WHat expenses are added on to the initial point purchase and do you finance for so many yrs. and what are annual costs?

5. What if you want to go another time of the yr. than the allotted?

6. Is it for one week per year?

7. What are the savings, or is it just to prepay your vacation?

8. What do you do w/children while you take the tour?

9. How and why do you rent points?

Well, I know I have many more but I guess this gets me started. We have 4 kids ages 8,6,3,1 and I am a Disney freak!! I can't imagine going anywhere else!!Also, if I do then Hilton Head is close, as is Vero Beach! Sorry I seem so stupid, I am an accountant(well stay at home mom now) and I understand the financing but can't grasp the other basic info.Thank you all so much

 

[loribell]

1. yes, you get a new allotment of points each year for your use year. So if you buy 200 points with a use year of say May, you will get a new allotment each May.

2. That all depends on what time of year you go. With there being 6 of you you will need a 2 bedroom. These run from anywhere around 22-41 points/night for Sun-Thurs and 54-100 points/night Fri-Sat at OKW to 30-50 points/night Sun-Thurs and 60-106 points/night Fri-Sat at BWV & VWL in 2002. Alot of members don't use points for weekend nights since they are so much more expensive.

3. The tour is very low key, they will go over what you want them to. They show you sample room, go over what all is included, financing, etc.

4. Through Disney there are no added costs that I remember. You can finance for 1, 3, 5, or 10 years. There may also be a 7 in there but I don't remember for sure. Annual dues also vary between resorts with OKW the lowest, but I don't think any of them are more than $3.90/point. This is a yearly maintenance fee that can be paid monthly.

5. We are not locked in to a specific week or even time period. We have an 11 month booking window at our home resort and 7 month at any other resort. What this means is that you can book at your home reort for a trip in June during the month of July.

6. See #2. It depends on when you go, what size room you need, etc.

7. The savings are over deluxe accomodations at theis point and probably in the future will be over most accomodations onsite as they will continue you rise in price but our point requirement will stay roughly the same.

8. They have a child care facility that will definitely keep the 8 & 6 year old and if they aren't busy may keep the other 2. They watched my 2 year old this summer and gave me a beeper in case they needed me. The kids have fun, nintendo games and other stuff.

9. Not sure about renting points other then when I needed some I checked the rent/trade board for someone that needed to rent theirs. I think sometimes it is because they didn't use them and forgot to bank them before their banking deadline.

Hope I was helpful and didn't give out any info I wasn't supposed to.

 

[TnRobin]

Loribell did a great job at explaining, but I will give my version too. Maybe we two can communicate in Accountant language.

1. If you buy 200 pts, then you are getting 200 pts/yr. until 2042?

As Loribell explained, you will get a new influx of points each year based on your use year (think annuities). There are ways to bank and borrow points between years, but that is best left to its own discussion.

2. What kind of accom. do you get w/200 pts?

Depending on location and time of year, these points can be used in a variety of ways. Weekdays cost less points than Weekends. You can mix and match to arrive at a multitude of options.

3. What are details of the tour?

Ditto loribell

4. WHat expenses are added on to the initial point purchase and do you finance for so many yrs. and what are annual costs?

If you purchase directly from DVC, no additional closing cost. If you purchase a resale, there will be approx. $400 - $500 in closing cost. DVC offers a mortgage loan over 1,3,5 or 10 years. If you are purchasing a resale, you will be responsible for your own financing ( I suggest a home equity loan because most bank will no give you a mortgage for a timeshare)

5. What if you want to go another time of the yr. than the allotted? 6. Is it for one week per year?

You have not set time to go with DVC. You choose when and where you want to go each time. There is no need to bank "your week" like at other timeshares. DVC is based on points.

Think of the points as DVC dollars instead of points. Each resort has a price based on size and season. The bigger the room, the better the season, the more DVC dollars(points) needed to secure the room.

7. What are the savings, or is it just to prepay your vacation?

There is a saving component involved but trying to put a dollar amount to it is not that easy. Based on the trend of inflating resort prices, many people feel that they break even in 5 years.

8. What do you do w/children while you take the tour?

ditto loribell

9. How and why do you rent points?

How

You find a DVC member who has points he/she cannot use and make a deal with that person. He will make the required reservation for you (or transfer the points to your DVC account if you are a member). The monetary transactions are between the renter and rentee.

Why

For instance, one of my possible reservations for next year is going to cost five more point than I have. I can possibly rent those points from a fellow DVC member to complete my reservation. For non-members, this is a way to try out a DVC resort at a possible savings.

Sorry I seem so stupid, I am an accountant

No wait a minute, don't start trashing accountants.

 

[drusba]

Some additional info to above:

1. You use points issued annually to reserve a room. You can go any time of year and can always make ressies 11 months in advance at home resort and 7 at others. Because of that booking window you should buy where you plan to stay most because it can often be difficult to get what you want 7 months out as opposed to 11 particularly during busy seasons (like summer at HH; holiday times at OKW; most times of year at BWV).

2. You have a usual 6 total in your party. Understand that means you are going to have to reserve a 2BR as the studios and 1BR's sleep only 4. As a result (and this may be taken as a little cold water), you need to buy enough points for a 2BR and that generally means in 350 range to go a week each year during non-school times (less at some resorts higher at others).

 

[Granny]

dutton...

Add in to the mix the banking and borrowing features. You can bank all or some of your points from one year into the next. And you can borrow points from a future year into the year prior.

So if you don't go every year, your point requirements may be less than if you go every year.

I'm sure this is confusing, but actually the banking and borrowing provide tremendous flexibility and are great features of DVC.

You've got great DVC experts here. Ask questions, get answers, and when the time comes, confirm everything with your DVC sales rep (guide).

Good luck!

 

[PKK/MJK]

An important thing to understand is that DVC is NOT like the conventional Timeshare. You do NOT have to go every year in the same month, for a specified time in the same type accommodation. You decide when you want to go, what size unit you want (a studio, 1 bedroom, 2 bedroom or a Grand Villa)and how long you want to stay. (you can even stay just one night). If you buy JUNE points, that does NOT mean you can only go in JUNE. It just means that every year on June 1st, you get a new allotment of points.

The number of points you'll need will vary depending on when you want to go, what size unit you want and how long you want to stay.

Let's say you want an OKW two bedroom for 12 days in July 2002--you'll check in on a Sunday and leave 12 days later on a Friday (I'm using this because it is the size unit we get and I'm familiar with the math). This involves only one weekend (weekends are higher points). This would cost you 446 points. Let's say you purchased 200 June points in 2001.(these points must be used between 6/1/01 and 5/31/02--unless you bank them!!) You bank those points--now they are available for another full year (6/1/02-5/31/03). On June 1, 2002, the 200 banked points are available again AND you get another 200 June 2002 points. Now you have 400 points for your July 2002 ressie. You still are short 46 points--you can borrow those out of June 2003.

You can make your reservation for July 2002--11 months prior to your date of departure. Let's say you want to leave OKW on July 19,2002---on August 19, 2001 you can make the reservation--using your banked 2001 points, your June 2002 points and your borrowed 2003 points.

IF you want to stay at a resort other than your "home" resort (you bought OKW points but want to stay at BWV), you make the ressies 7 months from the date of departure (Dec. 19, 2001). Keep in mind, a ressie at BWV costs quite a few more points than at OKW ( a 2 bedroom for the same time period would range from 466 for a standard view to 550 for a preferred view; most of the rooms are PV). This reservation window can be important so be sure to buy your points at the resort you prefer to stay at the most. Although OKW and BWV are sold out, you can still buy points for them on the resale market--Timeshare Store is very reputable--and there is another one DVCers frequently mention. Resale is an excellent way to go--and you are treated exactly the same by the Disney people. Hope this is somewhat clear and helps you a bit.

 

[normr]

Just look st the top of the screen for the Timeshare Store, they are just one of the great places to buy a resale for a great price.

 

[JonHM]

when Drusba was talking before about it taking 350 points to go for a week during the high season, I just wanted to reiterate one point, which was briefly mentioned earlier.

You don't HAVE to stay for a whole week, so you don't HAVE to have that many points. Many DVCers plan trips so they arrive on Sunday and leave on Friday, and thus never have to pay the *unbelievably* expensive points for Friday and Saturday nights. You can either take a shorter vacation that doesn't include weekends, pay cash for the weekend days in the same resort, or pay cash for the weekend days at a different, more inexpensive resort.

As an aside, many people in DVC wind up getting annual passes, which you will see referred to as AP. AP discounts are often very very good on cash discounts for WDW rooms, if you *do* wish to pursue the cash option for weekend days. Keep in mind, however, that those discounts are seasonal, not necessarily year round...

I guess what I'm saying is that while Drusba is absolutely correct about the point cost for a week, you do have OPTIONS. Don't feel like this is all out of your range because you'll have to be getting the 2BR villas.

 

[bwvmary]

I agree that the tour is easy and low key, no real pressure. However, if you are planning to finance through Disney, you should know that you may be offered a preferred rate if you buy when you tour (or within some very short period afterward). You will not be offered this rate from Disney again or at a second tour.

That said, there are so many excellent financing options right now that I would be inclined to look at resale and financing on my own, if I were buying now.

Whatever you decide, good luck!