Question about Magical Beginnings...

[ArnyVee]

I had a quick question....

Does anyone know if the current Magical Beginnings 'sell back' option lets you borrow points from the following use year right away?

I'm tryin' to possibly buy into DVC with 150 points at BCV at $84/point, use the 'Magical Beginnings' option and sell back the points bringing the total to $74/point and then borrowing the following year's points (maybe not all 150 so I'm not fully behind one year) right away.

Would this work?

 

[DebbieB]

Techically, you have to close before you can borrow to make a reservation. But guides can sometimes help you get around that.

If you buy now, they will probably give you an October use year, so you can make a reservation for a stay after October 1 without borrowing. For a stay before October 1, you would have to borrow.

 

[rtkane]

Our guide told us that we wouldn't be able to call MS directly to make any reservations until we closed. I asked him the same thing about borrowing and he did say that if we wanted to borrow points and make reservations right away, we could but we'd just have to do it through him.

 

[ArnyVee]

Originally posted by DebbieB
If you buy now, they will probably give you an October use year, so you can make a reservation for a stay after October 1 without borrowing. For a stay before October 1, you would have to borrow.

So, if I buy now I end up with an October use year? How does that work? My use year begins 6-7 months after closing?

I'm a little unclear here.

 

[Richyams]

Actually, your use year is usually 4-6 before closing. You would be getting ct 2002 points.

You could look into a resale. You may be able to spend less money and have a MUCH better current point situation.

 

[JOC]

Your use year (or month, if that's easier for you to understand) is the month when you get your next allotment of points. So if you have an October use year, your get your points on October 1 every year, but that doesn't mean you can't stay at your DVC resort until October.

 

[ArnyVee]

Originally posted by Richyams
Actually, your use year is usually 4-6 before closing. You would be getting ct 2002 points.

You could look into a resale. You may be able to spend less money and have a MUCH better current point situation.

I'm plannin' to charge my DVC purchase on my Disney Rewards Visa for the cash back option. That way, my purchase of approx $13K would yield about $130.00 in rewards. I can put that towards an annual pass for WDW. Also, I can take the 2002 points that I'll have (if I read your comments correctly) and rent some or all of them out to be able to generate some additional cash to pay for annual passes.

I understand that I cannot charge the purchase with a resale because it's like buying a home using a creditcard. Is that true?

If so, then I'd have to go with Disney direct. Unless, as you say, I can find a deal out there with unused current points and a use year (or month) that would be closer than October. Sheesh...so many options.

 

[Richyams]

Sorry, but I don't see the $130 reward as a reason to go one way or the other.

You may be able to save $1500 or more on a resale, just how important is that $130?

Needing forgiving financing, not wanting to do any legwork, needing a fast closing, saving money is unimportant...are all reasons to go with Disney, $130 in credit card rewards is not.

 

[Disneyaholic]

If you're planning to use Magical Beginnings, you won't have your 2002 points to be able to rent out. Those are the ones you would give back to Disney in exchange for the $10 per point reduction.

You COULD actually take the 2002 points, so that your purchase price would be greater, and therefore your Disney Rewards would be more as well, and then try to rent them out privately, but there is some risk involved with that, whereas MB is a "sure" thing.

 

[ArnyVee]

Originally posted by Richyams
Sorry, but I don't see the $130 reward as a reason to go one way or the other.

You may be able to save $1500 or more on a resale, just how important is that $130?

I'm absolutely aware that the $130 does not outweigh some of the benefits of purchasing via a resale. But, I meant that if all things were equal, I'd like to try and take advantage of gaining an extra little perk by utilizing my Disney Rewards Visa.

Thanks to everyone so far with great suggestions!

 

[JOC]

Hi ArnyVee,
I thought that you were leaning towards purchasing OKW...have you decided which DVC property you want for your home resort?

 

[ArnyVee]

Originally posted by JOC
Hi ArnyVee,
I thought that you were leaning towards purchasing OKW...have you decided which DVC property you want for your home resort?

Hey JOC,

Actually haven't decided yet. I've been throwin' around all of the ideas that everyone has been givin' me and I'm still not sure. I love the idea of having less maintenance fees and also being able to get some peace and quiet from the hustle and bustle that can happen when on vacation. But, I'm still not sure.

I think that it really depends on whether I can find that 'good' deal out there with OKW. If not, then I'm leaning towards BWV. Again, only if a 'good' deal comes up.

Just gotta keep my eyes open!

Keep an eye out for me if you see anything that you'd think would be up my alley, okay?

 

[JOC]

Arny,
How many points are you looking for, which resort and what's your budget? I don't know what your idea of a "good deal" is! Have you checked out any of the resale sites lately?

 

[reneesam]

Arny-

I'd call up one or a few of the major resellers and tell them you are very serious and let them know what you are looking for. A few years ago, Shontell Crawford (she was at the Timeshare Store at that time) called me with my contract info before she listed it on the internet, and I bought right then. They also had a "hot deals" email service for new listings and price drops. Good luck!

BTW, I agree with Rich...the ability to use Disney Visa for the paltry 1% reward vs other means of payment needs to be weighed against your total savings...you may save enough to buy several APs!!

Renee

 

[ArnyVee]

Originally posted by reneesam
Arny-

I'd call up one or a few of the major resellers and tell them you are very serious and let them know what you are looking for. A few years ago, Shontell Crawford (she was at the Timeshare Store at that time) called me with my contract info before she listed it on the internet, and I bought right then. They also had a "hot deals" email service for new listings and price drops. Good luck!
Renee

Actually, when I'm absolutely ready (and have convinced my DW who does not see the 'magic' completely yet) I will definitely call Shontell and maybe one or two of the other major resellers to express my interest.

Joc, I'm not sure exactly how many points I'm lookin' for. Although, I had originally thought that 150 might be enough and I've been slowly movin' that number up already!

Right now, I'm thinkin' in the neighborhood of 200.

Actually, I'll post another thread to try and get some opinions on that.

Thanks for the suggestions!

 

[panfan]

I just put my deposit on BCW on tuesday!!!!

On the very same phone call my guide transferred me to MS and I booked BWV in a one bedroom for May 25-30. I was surprised at the availability on such short notice but I am not complaining
! I borrowed the points from next year. My year starts in December. She told me that was the only option for a use year.