Question about adding on

[StitchFan73]

I have a probably dumb question about add-ons. If you buy then say in a few months decide to add on more points, if you finance is it rolled into your existing loan? Are there closing costs? And if you pay cash for them are there closing costs?

Sorry if this sounds stupid-I got a bunch of info from DVC and this is the one question I forgot to ask.

Thank you for being patient

 

[drusba]

Once you are an owner, your second and thereafter purchases drom Disney (add-ons) have no closing costs (Disney absorbs them). Any loan would be separate from original one (and you must add-on at least 50 points to be able to finance rather than pay cash). And the question is not stupid and the rule of courtesy followed by those on this site is that no question is considered dumb.

 

[StitchFan73]

Once you are an owner, your second and thereafter purchases (add-ons) have no closing costs. Any loan would be separate from original one (and you must add-on at least 50 points to be able to finance rather than pay cash)

WOW! Thank you for being so quick and clear with an answer! I really appreciate it There is so much stuff to learn and consider when purchasing and I just want to make sure I got it all straight.

 

[JimC]

Keep asking because we all learn from each other.

 

[StitchFan73]

Keep asking because we all learn from each other.

Thank you that is very kind of you

 

[stanamy]

I've periodically read the some DVCers have added on a small number of points for other resorts. Why would one get a small number of points (like 50) at other resorts? I could see adding points to your home resort. Is there a strategic reason to have small add ons for various resorts?

 

[loreejohnson]

Stitchfan...when you figure it all out let me know. I am having such a hard time deciding too. If you don't mind, let me know what you figure out for the resort to buy at. Thanks!

 

[aceys_h0ney]

I am new also but I think the advantage to buying smaller contracts at other resorts is to get the 11 month booking advantage at other resorts.

 

[mgroshans]

you also automatically get preferred financing, even if your first loan is standard!

 

[Sandisw]

I am new also but I think the advantage to buying smaller contracts at other resorts is to get the 11 month booking advantage at other resorts.

Yes, but remember, only those points can be used there at 11 months. You can't combine points until 7 months. So, if you own 50 at BLT and 100 at AKV, you can only use the 50 at BLT at the 11 month window (unless you bank or borrow from that contract).

The 100 AKV points can't be used until the 7 month mark. But, for those that really want to be able to stay at different resorts for different reasons, owning points at each can be very beneficial. I have read that some own points at BCV or BWV, simply to do a few nights every year for F & W.

 

[drusba]

Why buy only a 50 point add-on at another resort? It is to get the 11 month banking window. For some that is all they need for 3 or 4 nights in a studio. For others, it creates a resort they will go to every other or third year and have 100 to 150 points by banking and borrowing and thus give them a more lengthy trip that they can reserve 11 months out.

 

[PoohNFriends]

Why buy only a 50 point add-on at another resort? It is to get the 11 month banking window. For some that is all they need for 3 or 4 nights in a studio. For others, it creates a resort they will go to every other or third year and have 100 to 150 points by banking and borrowing and thus give them a more lengthy trip that they can reserve 11 months out.

Exactly why we only added-on 50 points at VGC. Since this is currently the only DVC resort at DLR and doesn't have very many units (48?) it's going to be tough to get some reservations at 7 months. Right now it's just the 2 of us and I think we would only go there every 2-3 years so 50 points works for now. My spidey sense tells me once I experience the resort itself and all of DLR I'll want more than 50 points !

 

[StitchFan73]

Stitchfan...when you figure it all out let me know. I am having such a hard time deciding too. If you don't mind, let me know what you figure out for the resort to buy at. Thanks!

LOL-I'll be honest-other than knowing I WANT a DVC membership, I am swimming in a sea of details trying to make a choice.

DH wants BLT and does not want AKL. I am so simple I don't care which resort, but I want to make a financial decision I can feel at peace with.

I like the idea of a small 50 point contract to start with because honestly, at this moment I am not comfortable with taking on more of a payment. Can we do it-yes. But should we-maybe. I am a "what if" type person-as in "what if there's no work few Dh for the next 5 months?"(he works in the construction trade). Will it happen-probably not, but what if?

I know in the end I we are going to buy in. I just have to think the whole thing to death first