Questions - Bought DVC while oneboard Wonder.. and now am getting cold feet

[Foxes Den]

We just got back today, the 11th of December, we bought on the 10th of December - and I am getting cold feet. We bought because we want to do the exchanges, but from people I have spoken to both at RCI and II its really hard to get one. What is the cooling off time for DVC?

We bought 320 points at Bay Lakes, (I think) and the yearly fee's are rather high. (new build?)

Has anyone been able to exchange their resort with ease? We want to travel to Europe, and outside of North America.

Thanks for your help!

 

[ILIKEWDW]

Hi, I am new in DVC, and also were amazed with the posibility to use my points for exchanges, but I have adviced for many people here that the best use I can do with points is to stay on Disney property.

And after reading some cases where people are unable to get what they request or get only the worst rooms, that advice has sense.

For that reason we decided to buy only the amount of points we need for our WDW travels every other year.......

For international travels maybe we will look for a Marriot, Hilton or Westin Clubs, or paying cash.

Hope that can help you as you are on time to cancel your bought.....

 

[bradisgoofy]

You have three business days to cancel, if I remember correctly. And I would say the primary use of DVC should be using them at DVC resorts.

 

[jel0511]

DVC is not the timeshare to buy primarily for trading. If you plan on primarily using it for WDW stays, it's a good deal and occasionally trading out. Also, with the switch from II to RCI, the Marriotts and Starwood (Sheraton and Westin) will no longer be available to DVC members to trade into, as they exclusively use II for trading.

 

[The Rivers' Rats]

When we bought our membership in October, we were told that there was a ten day cooling-off period (apparently that is per Florida Law)....

 

[Deb & Bill]

If I were you, I'd call DVC and cancel. DVC is pretty expensive to use for trading out. If you still want DVC, buy only the minimum you have to buy.

Annual member fees will continue to go up. Limit is 15% per year, but it all adds up after a few years. You'll wind up paying more in the annual fees than in the points themselves after a while.

 

[drusba]

Agree with above, do not buy DVC unless your intent is to use DVC resorts most of the time. You have 10 days from contract signing to cancel. You should call immediately to express intent to do so and then immediately send a letter actually doing so because that cancellation needs to be in writing to be effective. You mention annual fees for BLT are high. Yes, it is a new building but its annual fees are actually lower than any other DVC resort.

 

[DisneyWalker44]

If you have cold feet, call now and cancel. DVC may be right for you. It may not be. But take time - months if necessary - to figure it out. If you cancel now, you can always buy back in later.

 

[CarolA]

I am one of the one's who has attempted to trade with NO success. So probably eventually I will buy another TS for trading. It may be different under RCI, but we really don't know right now.

I agree that you probably need to do a lot of research so I would just call and cancel. That "deal of the century" will be repeated LOL!

 

[Tara]

We just got back today, the 11th of December, we bought on the 10th of December - and I am getting cold feet. We bought because we want to do the exchanges, but from people I have spoken to both at RCI and II its really hard to get one. What is the cooling off time for DVC?

We bought 320 points at Bay Lakes, (I think) and the yearly fee's are rather high. (new build?)

Has anyone been able to exchange their resort with ease? We want to travel to Europe, and outside of North America.

Thanks for your help!

You have a 10-day cooling off period. If you have any questions about the date by which you can cancel, call your guide. Fees are lower at Bay Lake than any other DVC resort, and they will only go up over the years. They might remain lower than other resorts, but they might not.

We bought into AKV this summer and then canceled when we got home - we knew DVC was for us, but the time wasn't right (some low-level uncertainty that made us nervous, but turned out fine) AND we knew that AKV wasn't really where we wanted to be. So when Bay Lake was announced, we placed our order for points and the order went in as soon as the public sale began.

Another option is to look at the number of points you are getting. How do you plan to travel to WDW? What size room/s would you need? 320 is a lot of points - if you think you still want DVC, maybe you should consider canceling this contract and buying a smaller one. Or look at the very healthy resale market. Fees won't change, but you can pay significantly less per point. One resale company is this board's sponsor and their link is at the top of the page.

Good luck with your decision.

 

[plc001]

...You have 10 days from contract signing to cancel...

I marked my 10 days in a calander.

 

[ldo]

Mail a letter stating you want to cancel. Get a receipt that you mailed it. I have traded with RCI for 10 years (not with DVC). Trades to Europe at prime times in prime spots are hard to get. AS others have said, many feel that DVC is a VERY expensive trader. Also, I would want to wait a year or so with DVC-RCI switch and see how it pans out before I bought DVC with the idea of trading on a regular basis.

I also agree with others, and would buy DVC to mainly stay at DVC. Elaine

 

[Foxes Den]

Thanks everyone one.

I just called to cancel, and my sales agent is out of the office, until next week. The girl I spoke to said "notes" on the file were fine to cancel as far as dates go. I am not sure I am okay with that.

I do no have a mailing address, or membership number- but she was able to find me via my phone number.

Does anyone have a mailing address they can give me?

I want to get this out in the mail ASAP to cover my self.

thanks!

 

[Tara]

Thanks everyone one.

I just called to cancel, and my sales agent is out of the office, until next week. The girl I spoke to said "notes" on the file were fine to cancel as far as dates go. I am not sure I am okay with that.

I do no have a mailing address, or membership number- but she was able to find me via my phone number.

Does anyone have a mailing address they can give me?

I want to get this out in the mail ASAP to cover my self.

thanks!

We faxed in a signed letter canceling our contract. If you call they can give you that number.

 

[BWV Dreamin]

We faxed in a signed letter canceling our contract. If you call they can give you that number.

Did you cancel your BLT? I was so hoping for more faq's from you!

 

[Foxes Den]

I have tried to cancel, but our sales rep is out of the office until next week. We have left her a voice mail, sent a email to DVC advising that we wish to cancel, faxed her fax number, advising we wish to cancel and had a note put on our file that we wish to cancel with membership services. She is back in the office on the 16th, so I guess I will call her again?

T

 

[ldo]

call your guide's # and push 0 for operator, or talk to anyone who answers and get a mailing address. I know that DVC is VERY good about letting people cancel over the phone, fax, etc---but I can tell you that other timeshares are not and many times the cancelation rules say you must MAIL cancels in writing within a certain time.
So, just call again and ask where to MAIL a cancelation request. IF they say not necessary, just say you would prefer to do so for your accoutant's records. best wishes, and good luck--DVC is a great timeshare--for when you are ready. Elaine

 

[Foxes Den]

I did that, but was told that I had to spek to our sales rep first. So I am kinda suck in limbo right now.

 

[ldo]

you should send your cancel in today. Call back and insist for mailing address. Also, other timeshares use the "unavailable--he'll call you back" tactic to stall the days until it's too late to cancel.
IMHO, DVC is a very honest operation (the best I have dealt with) and so I would not suspect that is the case here---but there is absolutely no requirement that you speak with your rep. 1st before you mail in a cancel letter.

 

[Foxes Den]

so i called back, and was told to fax a letter, and then call back in three days to make sure it was cancelled. I hate when you are not given the same info by different people... such a pain, and extra work for everyone.

she also would not give me a mailing address for a letter.

taylor