Questioning what DVC agent said

[correctcraft97]

Thank you. I didn't take anybody's comments as steering. I'm thankful for all the input. Risk is definitely the deciding factor, which is why I am leaning towards resale. I would only go once a year, maybe even sneak in a weekend somewhere so AP wouldn't benefit the cost vs just buying tickets from Disney or undercover tourist. I would not miss the benefits of buying direct but I could see myself buying 25 direct in the future

 

[Sean91]

Thank you. I didn't take anybody's comments as steering. I'm thankful for all the input. Risk is definitely the deciding factor, which is why I am leaning towards resale. I would only go once a year, maybe even sneak in a weekend somewhere so AP wouldn't benefit the cost vs just buying tickets from Disney or undercover tourist. I would not miss the benefits of buying direct but I could see myself buying 25 direct in the future

We feel the same, we just purchased our first contract resale and bought just enough points for 2 weeks per year during our usual travel time, The time we travel is likely to change in a couple of years so we plan on buying an add on direct with just enough points to allow us to stay during the dream season, figure it's worth it for that just so we don't have to wait around for a 50 point contract at our resort and in our use year.

 

[docsoliday1]

How can you tell when a timeshare sales person is lying?

Their lips are moving.

A good rule is to never, ever mention resale to a DVC Guide. They do not make money when you buy resale.

As with politicians, DVC sales reps are lying if their lips are moving. Love it!!!

 

[docsoliday1]

I think some must be rewarded with points. Our guide (who obviously lives in Florida), kept talking all the resorts he owns at and how he has 900 points and books MK view during 4th of July every year. My ears just heard "I get points on commission".

Either that or he gets a deep discount when he buys vs. the price they give us. I know there may be some pitfalls (possibly unknowns) buying resale, but given the price differential, it's worth that risk to me. I was just at AKL and the price I was quoted was $165 per point and when I see AKL resales going for $79-$85 a point, it's closer to a 50% difference. So, anyone who has done a resale, how does financing work if not through Disney? What kind of rates are typical? I have good credit and I think I could possibly get better than 11% they offered.

 

[Nie0214]

Either that or he gets a deep discount when he buys vs. the price they give us. I know there may be some pitfalls (possibly unknowns) buying resale, but given the price differential, it's worth that risk to me. I was just at AKL and the price I was quoted was $165 per point and when I see AKL resales going for $79-$85 a point, it's closer to a 50% difference. So, anyone who has done a resale, how does financing work if not through Disney? What kind of rates are typical? I have good credit and I think I could possibly get better than 11% they offered.

If you're financing, you're probably better off going to a local bank or taking a home equity. Most people will tell you not to finance vacations, though.

 

[docsoliday1]

If you're financing, you're probably better off going to a local bank or taking a home equity. Most people will tell you not to finance vacations, though.

Well, to a certain extent, I understand that, but I'm not independently wealthy, so I don't just have $15 - 30K to plop down. Maybe I'm in the wrong forum if that's not the case for most here.

 

[Reuven Shechter]

Well, to a certain extent, I understand that, but I'm not independently wealthy, so I don't just have $15 - 30K to plop down. Maybe I'm in the wrong forum if that's not the case for most here.

Most people will tell you not to finance it--we've saved up enough for about 1/3 of our contract (if it goes through ROFR). We're using Monera for financing because it's simple and easy. I think the other good option--if you own your home, is taking out a home equity line of credit. If you have truly amazing credit (800+), with little to no debt, there are some companies that can offer a better rate than Monera (9.9%). Those loans seem very difficult to secure though, at least for me.

 

[docsoliday1]

Hmmm...just refinanced my mortgage to get rid of my equity line, so either that was a bad move or now I can open a new one.

 

[Nie0214]

We are using a HELOC for 1/4th of ours, at 4%, which definitely beats those 10% loans. Like I said, most will tell you not to finance, but you know your situation best.

 

[MrInfinity]

During our presentation he kept pushing Poly and when we said we loved the 1BR we'd been staying in and couldn't see staying in a studio every visit (and couldn't afford a bungalow), he kept telling me all the 1BRs are always open to book and you'll have no trouble finding one at 7 months. This was after telling him we travel in the fall. Research > sales man.

In all fairness, this is actually pretty true. I checked 1B's right now, for 6.5 mo out -- Last week of Sep = fall. Full availability for a 1B in...
AK Jambo
AK Kidani
BLT
OKW
SSR
BWV
GFV
BRV
In fact only BC was down to partial.

Checked 1st week of Oct. Ditto on good availability.
AK Jambo
AK Kidani
OKW
SSR
BWV
BRV
BLT - 5/6 nights
GFV - 4/6 nights
BC - nothing.

I'd say that qualifies honestly as "no trouble finding one" to check in the heart of fall season and they're readily available just inside 7 mo. 1B's are typically the last to sell out.

 

[MrInfinity]

I'll add... It's not unreasonable for a timeshare salesman to employ aggressive techniques like this. It's common sense. Do you really expect them to tell you "oh sure you can buy resale... you'll save a lot of money and the money saved more than makes up for the benefits". Really. That guy wouldn't have a job very long. It's no different than a car salesman telling you stories about the guys across the street. They don't have to be true, since it's all hearsay. It's up to the buyer to make heads or tails of what the person with an obvious interest in selling you something really means.

 

[disneynutz]

Well, to a certain extent, I understand that, but I'm not independently wealthy, so I don't just have $15 - 30K to plop down. Maybe I'm in the wrong forum if that's not the case for most here.

Adding the purchase price, yearly dues that increase 4% per year and the cost of financing your DVC savings may not be much of a savings. In addition, DVC causes you to take yearly Disney vacations, sometimes more so now your vacation spending is more than before.

Bill

 

[correctcraft97]

I understand that there is some kind of monthly DVC publication of some sort. Is this available only to direct sales or can resale buyers get it too? I know this is a really small perk but I would love to get it even if I could pay out of pocket for it

 

[Wakey]

I understand that there is some kind of monthly DVC publication of some sort. Is this available only to direct sales or can resale buyers get it too? I know this is a really small perk but I would love to get it even if I could pay out of pocket for it

Everyone gets this I think, I think it is paid from dues but stand to be corrected. You can download a pdf anyway from the members site.

 

[KAT4DISNEY]

I understand that there is some kind of monthly DVC publication of some sort. Is this available only to direct sales or can resale buyers get it too? I know this is a really small perk but I would love to get it even if I could pay out of pocket for it

You should receive it. It seems to go out in batches so some members will report receiving it long before I see it and vice versa sometimes.

It's published quarterly, not monthly. And it's content varies in being relative to DVC or not. As mentioned it's also online.

 

[RRB]

Earlier in the thread, a poster stated that re-sales cannot book more than 7 months out. Is that correct? There are other limitations to the re-sale points, correct?

Thanks

 

[Paula Sedley-Burke]

Earlier in the thread, a poster stated that re-sales cannot book more than 7 months out. Is that correct? There are other limitations to the re-sale points, correct?

Thanks

No I have never heard of this! You can book your home resort at 11 months no issue. Just no AP discount and no exchange points on DCL. No EPCOT member lounge and no events. I think that is it. You can still use Top of the World lounge and Pool hoop I believe.

 

[Wakey]

No one can book outside their home resort between 7-11 months. Resale is no different to direct. Resale get a white digital card that specifically says they are entitled to TOTWL, pool hopping and dvds

 

[Dean]

No I have never heard of this! You can book your home resort at 11 months no issue. Just no AP discount and no exchange points on DCL. No EPCOT member lounge and no events. I think that is it. You can still use Top of the World lounge and Pool hoop I believe.

It's been an often reported rumor but is not accurate. I don't believe they have the legal right to such a restriction for the current club.

 

[Paula Sedley-Burke]

It's been an often reported rumor but is not accurate. I don't believe they have the legal right to such a restriction for the current club.

Good to know. I don't see how they could make that change. I don't have resale but it is a healthy part of the circle of our DVC membership.