Purchase add on points....

[ree123]

Was considering buying a small amount of points as an add on. we come at least 2 times a year to WDW and with my cousin and her family moving to California, we will be visiting DL as well. Now that we are DVC owners, we have family asking to come with to WDW for the next 3 trips and will need Grand Villas or 2 bedrooms at the least. Our points will not cover that~ Can you tell me what the minimum amount of points we are allowed to add on. Also, do they just add on to the payment we already have taken out with auto-draft, or seperate? Im 99% leaning towards going thru with the add-on if Im able to do so. We have 160 at AKL/SSR. Would they put the add-on attatched to just one property? Thank you all

 

[hellerjw]

The minimum add-on is 25 points (50 if you need Disney financing on them). It can be any number above these minimums you choose, it doesn't have to be in a specific increment. So for example you could add on 29, 67, 112, etc. It would be a new contract at a specific resort, in your case either AKV or SSR, so you would need to decide which resort to do the add-on with. There are no closing costs for member add-ons. They would setup a new, separate payment plan for the add-on. If financing the add-on you would need to do the normal 10% down but the points would be available almost immediately after placing the down payment (usually within 24 hours). You should also get 2010 points with the add-on as long as your 2011 UY hasn't already started. For example, if you have a June UY and do a 50 point add-on, you will get 50 - 2010 points (since your 2010 Use Year runs from June, 1 2010 - May 31, 2011) plus your normal allotment of 50 -2011 points when June 1st rolls around. You aren't really getting any points free but it is nice to kind of double-up on the front end like that especially if you need the extra points right away. They will also assign you the same Use Year as your current contract at the resort where you do the add-on.

 

[ree123]

Thanks! Do we need to go thru the whole contact signing, credit check, etc or is this process a little more speedy?

 

[hellerjw]

Yes, but the points will be availabe for you to use almost immediately. Since this is a separate transaction you do have to go through the same document signing process, notary, etc. There shouldn't be any closing costs and they should give you the same interest rate as your current loan. I don't know if they actually run a new credit check, but if you are current on your primary loan they may not. If you have the higher interest rate on your existing loan and your credit history has improved it may be beneficial to have them run it again to see if you qualify for the lower rate now.

 

[ree123]

thanks again....Our credit is just about perfect and im current on the other points.When DH gets in, Im gonna sit him down and sell DVC-AGAIN!! lol

 

[newyorkmike]

We just added on in January and if you are financing they do run a new credit check. All other mechanics of closing the add-on are as stated by the previous poster. In addition to the regular incentives (i.e., "X" points off), I think the gift card promotion is ongoing, which gives you a $500 visa gift card for add-ons over 100 points.