Requirements to purchase DVC?

[Minky]

Is anyone aware of the requirements? Do you have to own a house or something in order to purchase? Never had any experience with this or any timeshare type thing. Any info would be greatly appreciated!!

 

[jjohnson]

We'll they do a credit check and if you are financing thru Disney your interest rate is based on your credit report.

 

[skibum]

There are really no stringent requirements, other than having the money, or at a minimum 10% down with DVC financing. Minimum buy-in through DVC is 150 points, which you can get down to $86 a point with a member referral. Remember that every year you will be responsible for dues that are currently running about $4 a point (so about $6oo for a 150 point package).
The program works well, and is based on points. It costs more points to stay in larger units, and more points for busier times of the year.
Although dues may (will) increase, the number of points is guaranteed to stay the same - over the course of the year. Points may go up for some specific period, but are required to come down for another period.
Good luck with your decision-making, and read through these boards. Probably every question you have has already been asked.

 

[KJSJpipe]

It's not like a regular timeshare where you have to be a married couple with a certain amount of income. My friend just joined and is single/no kids, she sat with me during my tour and said the info/tour was just like the one she had and I will be joing as married with children. Very low pressure too, I have done another TS tour not far from WDW and it was very hard to 'get out alive'. They were so set on selling they would not take no for an answer, they even brought out the manager and a closer~ take a hint people we said no! We had all intentions of joining till our car died the week before and we had to but the TS money towards a new car. They did not care, even tried to get my GF to give us her money and they would give her passes!

 

[OneMoreTry]

It's not like a regular timeshare where you have to be a married couple with a certain amount of income. My friend just joined and is single/no kids, she sat with me during my tour and said the info/tour was just like the one she had and I will be joing as married with children. Very low pressure too, I have done another TS tour not far from WDW and it was very hard to 'get out alive'. They were so set on selling they would not take no for an answer, they even brought out the manager and a closer~ take a hint people we said no! We had all intentions of joining till our car died the week before and we had to but the TS money towards a new car. They did not care, even tried to get my GF to give us her money and they would give her passes!

My sister had the same experience. It was unbelievable -- Vistana just 2 miles from WDW. What a nightmare!!! Her son found me in the condo and told me she was in tears. I had to go rescue her. After 3 hours they didn't want to give up. I MADE her just to get up and walk away even without the promised blood money she was supposed to get. I told them sayonara. They were .

To the OP: I realize this may be rude, and you can call me a busybody if you like, but I have to insert my humble opinion. I would STRONGLY recommend saving money to buy a house before EVER considering a timeshare including dvc. Go to pop century. Put the payments in the bank and get a house!!

In the long run this will give you more time and money to enjoy WDW or whatever you want in life.

End of lecture.

 

[Minky]

One More try, I completely agree with you that is very sound advice...we own a house, however it is in my parteners name...I wanted to do the DVC in my name though!

Thats why I was wondering if that was something they looked for or not.

It sounds like a really good deal, are there any hidden drawbacks??

Can you use DVC points to stay at lets say Pop Century (I really like that place actually)

 

[KristinU]

You can use DVC points to stay at Moderates and Deluxes as well as Ft. Wilderness, but not the Values (at least they're not on the points charts...someone correct me if I'm wrong). IMHO you're better off reserving any non-DVC places just with cash, though (with AAA or AP rates if possible). Just a glance at the points charts told me that for 109 points we can stay at Coronado Springs for 6 nights in September, vs. 120 for a 1BR at OKW or 121 for a Standard View 1 BR at BWV for the same 6 nights. No comparison in my mind.

We stay at non-DVC WDW resorts on cash for "quick trips" when airfare is too good to pass up and our APs are burning holes in our pockets, and also for a night or two before checking into a DVC resort to save on the weekend points.

Hidden drawbacks? Um, yeah, the AP discount and the above mentioned "quick trips" that are enabled by the APs (even before the AP discount...those little things are big enablers )

 

[the who #3]

i agree totally with KJSJpipe and one more try. i went to one of those timeshare presentations within a couple of miles (right next the gate to mk they say) and was unable to escape. after 6 hours (they were supposed to drive me back to my hotel) my daughter and grandchildren came to get me.
you are right, they were really mad. it was horizons - marriot. they even refused to sell me the discount universal tickets that were promised, even if you don't buy.

i recoil from pressure selling. that is my que that something is not to be trusted.

i went to tour dvc and found no pressure at all. that told me that they don't need to pressure since what they are selling is truely on the up and up. and the price is the same for everyone. no under the table deals.

i think the only requirement is that you be able to pay.

 

[DVC Grammy]

One More try, I completely agree with you that is very sound advice...we own a house, however it is in my parteners name...I wanted to do the DVC in my name though!

Thats why I was wondering if that was something they looked for or not.

It sounds like a really good deal, are there any hidden drawbacks??

Can you use DVC points to stay at lets say Pop Century (I really like that place actually)

We love owning DVC, but if you truly prefer Pop Century, you might be better off not buying. It may be non-PC to say , but many of the DVCers bought into DVC just so that they wouldn't have to stay at the Values.
For most, it was a way of guaranteeing future WDW vacations at a "luxury" resort.