Question about selling points

[Disney-Kim]

We were thinking of selling off our add-on contract. but will still own our other one at BCV.
but I can't figure out if we can sell it for what we still owe on it.

so I need to:
get payoff from Disney (its financed thru them)
figure out how much per pt I paid (2 yrs ago)
figure out how much I could sell them for

anything else?
I have to figure out if the sale is even going to payoff the loan.
??? right???

thanks for any help.

 

[spiceycat]

yes, if selling it won't pay off the loan - if you can I would reconsider...

the going rate for BCV is high even in resale. $93 to $97

you probably brought at $82 or less per point.

you might also consider renting your points for a couple of years to pay for them...
www.myresortnetwork.com
www.tug2.net

also anything local - newspapers, bulletin boards.

figure how much per year your BCV contract is costing you - include the mortgage payment plus the fees - if it works out to $14 or $15 per point - you should be able to rent your BCV points for that amount - just not on this board.

 

[byoung]

Is your add on at BCV?

 

[CarolMN]

Unless you already have a buyer, you may need to hire a broker to find one. If so, you'll need to plan on paying commission.
Best wishes -

 

[kidsister]

I think I understand your dilemna...usually the financing of points is at a fairly high interest rate, and when you add that interest to the initial 'cost' of the points and especially if you take out the usual 15% commission to sell the points....you can end up owing more than you get when selling.

And while renting points certainly is a way to make money, again, once you subtract the 'interest' on the loan (per point) and the maintenance per point, well...it can cut into the profit margin considerably.

I guess you have to do the math and see which way you come out ahead.
There are a few sites like Tug2 and Redweek that allow you to advertise your points for sale for very little cost. If you do this make sure that you decide who will pay the ROFR ($75) fee. Typically the buyer pays closing costs and maintenance on the current years points. You could try to sell it yourself at one of these sites (make sure you never pay anyone upfront to 'sell' your points ok???), then perhaps ebay (with a reserve) and then, if that fails, try Tom Yeary.
I don't know how many points you have, but if you rented them at $12 and then subtracted the cost of the financing per point and the cost of maintenance per point...you might find that it is worth it to try to rent them for a few years to help you get back at least some of your investment.
Good luck to you!

 

[T.E. Yeary]

The commission on the purchase price is 10% through The Timeshare Store, Inc.

Best wishes,
Tom

 

[Disney-Kim]

thanks everyone for the advice. we are only thinking about it right now, investigating.
I can't say where they are...it's against board rules.

FYI....I am not trying to solicit any interest in buying my points, I am really just asking for help in trying to decide if its a financially sound decision.

thanks !!!!