Points and Money

[Nonna]

I will be visiting DW in January 2003 and am interested in looking into the DVC. How does the point system work(1 point equals what in $, when we go to use the points that is) and how long do we have to pay the full price of the points? I not too clear on alot of it, so I am not sure what questions to ask. Any help or opinions would be appreciated. Thanks so much!

 

[Laurabearz]

First I would check out the wonderful information here..... http://www.disboards.com/showthread.php?s=&threadid=1571

That will give you the basics......

But to answer some of your questions.....

Right now via Disney points are selling for $80 pp with a price incease to $84 per point in December (the 1st I think) Once you buy your points they are yours to keep.... you get a fresh alloment of points every year (IE if you buy 150 witha June Use year, every June you get a new set of 150) All you then have to pay is the maintence fees on the points you own..... That fee varies from resort to resort. And is rumored to be going up soon.... but is around 4 bucks a point give or take.......

Different resorts charge different points based on room size, day of the week, time of year, and in one case view (BWV has both standard and prefered views.... all others one view)

If you buy through DIsney you can finaice (sp) your purchase for 1 year, 5 years, and 10 years, each accruing different interst rates..... If you buy resale you must pay cash....

Hope that answers some of your questions..... the FAQ guide I linked you to above covers a lot more...... read through that and come back here and ask as many questions as you need!

 

[anniet]

Hi Donna-

I'll be down there in January too (last two weeks, I can't wait) and it will be our first trip "home" to the Villas at Wilderness Lodge. I just purchased this past March.

First you should be aware that points are a little different than dollar value.

When you buy DVC you buy a certain number of points that you will get in your account at the beginning of each use year.

For example, I purchased 150 points (the minimum if you purchase direct through Disney) and my use year is August. So every August 1, I get 150 points.

What those points will get you depends upon what size accomodation, which DVC villa you reserve at and the time of year. I don't know if there is a chart here on this website (anybody know where she can find one?)
Anyhow, as you can imagine, the more popular the time of year, the more points you will use. Since I travel in January, and it is one of the low-points season, the 150 points suits me fine. (We will be staying in a Studio at Wilderness Lodge for 10 days in January- it will use 140 points and I will bank 10 into the next year)

You will have to put down some sort of down payment and Disney will provide financing if you pass the credit check, and the financing is for 10 years, which is great because it lowers the payment. I financed for the ten years, but since Disney will accept additional payments without penalty I plan to have it paid off in 3 yearss, since the financing rate is a little steep in my opinion at 10.95%

There is a maintenance fee that you must pay every year, and it is roughly between $3 and $4 per point, so the more points you buy the higher the fee.

Also, you can bank points into your next use year, and borrow points from the upcoming use year, but there are rules to doing this.

There is a LOT to know, but I suggest that if you are seriously interested, call DVC now and let them know you will be visiting in January. Ask them to send you some material so you can review it before you get down there, and then if you are still interested, take the tour while your there. The office is over at the Boardwalk.


Good luck!

I'm certain the veterans here can add any other important information I neglected to mention, but as I said, there is a lot and it would be to your benefit to contact DVC.

 

[EROS]

DONNA, take the tour in January, and then buy a resale. You'll save considerable $$$$$

 

[SheriB]

Donna,

Hi! We're neighbors (I'm from Gibbstown).
All of the advice above is correct, and I would like to add that when you go there and get the sales presentation (very low pressure-actually very informative and enjoyable), you will tour some of the different room types at different resorts. Just remember that you should " buy where you think you will want to stay the most." The guides currently are trying to convince people to buy at Vero Beach and Hilton Head. But if you do that, and say you would prefer to stay at the Beach Club Villas, you may not be able to get the resort you want at the time you want. If you decide that the Boardwalk or Old Key West may be your favorite, you may want to look at a resale purchase.
We were ready to buy Hilton Head sight unseen while we were there, but I'm glad I came home and found these boards. It helped us decide to buy through Disney, but at Beach Club Villas. We also considered a resale at Boardwalk Villas. Although I do intend to visit all of the Disney resorts, we decided that BCV is where we would want to stay the most.
Whatever you decide, good luck! Keep reading these boards-the people here are very knowledgeable and won't steer you wrong!



Sheri