Resale maybe not the way to go?

[disneycrazed139]

I was looking at all the benefits of resale. I do have to finance and the financing you can get with the resale has a lot steeper of an interest rate than Disney's financing. (Looks like by about 2-3%)

In addition, you pay closing costs, so it looks like the payments may come out just about the same...unless you buy the resale with cash or a home equity loan, it doesn't seem that it would be that much of a better deal.

Something to think about. I was sure resale was the way to go, but now I'm thinking SSR with the extra 10 years and $10 off deal makes more sense. Any opinions? I am 35 so those extra 10 years mean a lot. At least I HOPE I'd get to use them!

 

[Dean]

I depends on the deal, amount of points available and the like. For 150 or more, it's almost always cheaper to buy resale. One should look at each resale individually though. You can also do a home equity loan and get it cheaper but Tammac is the only company that I'm aware of that will do a loan for a timeshare resale though I think it's just an unsecured personal loan. The best option is to save up the money then buy resale.

 

[TnRobin]

No you are not crazy, that was the same conclusion we came to when we first bought. We were buying a small contract (180 points). By the time I added the closing cost and then reduced the DVC price by Magical Beginnings, it was cheaper to go thorough DVC. At that time the resale market was tight, there weren't many deals.

You have to look at both options and compare. Resales definitely need to be considered. They do offer banked points that you would not get from DVC. But also consider, is the resale you are looking borrowed to the max.

 

[Richyams]

Except for the extra ten years, I think SSR is the worst DVC deal there is.

Its got the same tiny units as BWV, yet its in the same location as OKW and has a point schedule closer to BWV. The Grand Villas are a particularly bad deal. The points are WAY higher than OKW, yet the units are smaller.

The extra ten years is nice, very nice, but I wouldn't want it as my home resort.....but I only stay in the GVs, maybe that is why I am so opposed to owning there.

 

[RoutemanDan]

How is it the worst deal? with the $10 reduction you get it cheaper than BCV.Don't give me location,Many including myself think the location is great,IMO even better than OKW.The units are the same as every DVC resort except OKW.The pool looks like its going to be awesome,the spa is there,hopefully seasons or something on par will be there and a fireworks view of Pleasure Island plus the extra 12 years.So how is it a bad deal? To YOU it may be a bad deal but not for all.Try adding IMO at the end of all your diatribes so you don't freak out and scare off potential members.

 

[Richyams]

You are absolutely right, I guess I am just a bit chagrinned that with each new resort, the value seems to be shrinking...IMO.

I also think it looks like it will have an awsome pool and probably alot more in the area as far as eats and shops....that is just speculation, bt the infrastructure is already there.

One huge plus could possibly be Seasons, anyone know if Seasons is going to be making a comeback?

 

[cewait]

Originally posted by RoutemanDan
So how is it a bad deal? To YOU it may be a bad deal but not for all.Try adding IMO at the end of all your diatribes so you don't freak out and scare off potential members.

Oh my, sounds like Dan needs to go on vacation. …… IMHO

 

[RoutemanDan]

Originally posted by cewait
Oh my, sounds like Dan needs to go on vacation. …… IMHO

Not at all.The resort went on sale Monday and good old Richy has been steadily bashing it since. I know how he likes to kid around but people looking into DVC/SSR for the first time might be put off by his comments.

 

[Disney Doll]

Richy, I don't think you'll hear anyone here disagree that OKW is superior in terms of room size. Heck, I own 2 contracts there, so I agree with you!!!!!!

For some people, size is not the only thing that matters(contrary to popular opinion ), and location and other amenities may figure into their decision-making process as well.

If someone likes to be close to DD, likes to have access to a lovely spa, likes to have access to a very nice pool, likes to have an above-standard room in comparison to many hotels(perhaps not the physical size of an OKW room, but, the rooms in other DVC resorts are still not too shabby!), then perhaps if the finances work out for them,SSR would not be a bad purchase. Maybe it wouldn't be the right purchase for you, but that doesn't make it the wrong purchase for everyone else!

I perosnally think SSR looks like it will be a very nice resort, and I look forward to staying there. I will probably not be buying points there, as I have about as many points as I can afford right now, but I will have no misgivings about using points to stay there soon.

 

[Lesley]

No, resales aren't always the way to go. I know generally I've heard that if you have the cash its better to go resale and if you're financing with other than a low rate home equity loan, its better to go through Disney....but there are always going to be exceptions to the rules.

When we joined we had cash to pay up front. We could have purchased either BWV or OKW through Disney, or we could have found a resale. We decided we wanted BWV, and we wanted a contract with around 150 points. At the time, BWV resales were not as abundant as they are now and 150 point contracts were selling very quickly and at fairly high prices for resale at the time. We decided that rather than hassle with bidding on resales we could do just as well by using Magical Beginnings and buying through Disney. This also allowed us to purchase as many points as we could with the amount of money we had...so we got a bit over 150 points, knowing that we'd be able to use all the points we could get.

Our future add ons (we have a plan for the future...LOL) are likely to be resales because we want more points at VWL and some at OKW....though we might go through Disney's add on waitlist to round out our points at BWV and VWL since we need odd numbers to keep it easy. When I figured out our future needs (at least until our kids are grown) we could really use 3x the number of points we have now. Whether that will happen or not, I don't know for sure.

And though Rich generally has some valid points (overblown, but valid to some degree) the whole resort bashing thing does get old.....fast....especially in threads where the question isn't "which resort is better".

 

[cewait]

That's cool, just hit me a little hard as I read....

So all will know on this thread, I just purchased a resale at OKW (papers went to DVC on Monday) I sweated like many
1) whether I wanted to buy DVC or continue my CBR streak;
2) resale vs SST and
3) on-going $$ maintnenance fees.

I passed on the SST mainly for annual cost issues as well as up front costs.

So, hopefulling in 4-6 weeks I'll be "family "

 

[jaysue]

If you have to finance outside of a low interest rate loan such as home equity then finance and close with Disney - it will be less expensive and you will get immediate closing of the deal and ability to book

SSR is an interesting location - if you are into DTD then it is a fabulous location......if you do not have a car on your trips and do not like buses then it is not a good location

The extra 12 years are worth it to some and not to others

I do not think Rich is being too harsh in the substance of his views

SSR does not have the best location (unless you really like DTD), has the same size rooms as other DVC at WDW ex OKW, and has a point schedule that is a total compromise - i.e. will not make anyone happy

Thanks
jaysue

 

[disneycrazed139]

SSR might actually be a good purchase for me. We absolutely love DTD. I wonder if anyone knows if a boat will be going there from the resort. I would guess yes.

A couple of years ago we took out a water mouse on the lake on DTD and passed what I think was the Disney Institute. They looked sort of like retirement homes. Very woodsy and quiet. If that is the location, I think it is fabulous--especially if there is a boat to DTD. Any word on this?

Also I have read that there will not be a water slide and also that there will be a water slide. Any idea?

 

[pod2314]

I am fairly new to the DVC, having just purchased our points in October 2002. We purchased ours on a resale (450 at BWV with approximatly 360 banked from 2001) and financed it with a Home Equity loan so we could write off the intrest on our taxes. The realator from the resale firm used to work for DVC in sales, so she was very knowledgeable about how DVC works and was able to tell us things that the DVC reps would not (or could not) tell us.

Good luck which ever way you decide to buy. We are about to take our first extended stay at DVC in 2 weeks (3 nights at WLV & 5 nights at BCV).

 

[minster22]

After reading this thread I decided to call Disney before I went any further with the resale route and see what they had, if anything at BWV and what their terms of finance would be. It actually worked out better for us to buy directly from Disney and we bought 150 points instead of the 100 point resale. The use year is March and it is at BWV. I have always checked out the DVC forums since I found the Dis boards and know there is a lot of discussion about the "best" resort. Good thing we don't all agree or there would not be enough room for all of us ( I am almost "family"!). I am so excited I could burst!!!

 

[Chadm]

Originally posted by Richyams
Except for the extra ten years, I think SSR is the worst DVC deal there is.

Its got the same tiny units as BWV, yet its in the same location as OKW and has a point schedule closer to BWV. The Grand Villas are a particularly bad deal. The points are WAY higher than OKW, yet the units are smaller.

The extra ten years is nice, very nice, but I wouldn't want it as my home resort.....but I only stay in the GVs, maybe that is why I am so opposed to owning there.

Do you just copy and paste this from thread to thread? I've seen it about 10 times now in different threads. At least there's no doubt about the way you feel.

 

[RweTHEREyet]

Except for the extra ten years, I think SSR is the worst DVC deal there is.

It won't be a bad deal for me, if we decide to do it after seeing the models in person. I will also get a Cast Member discount on top of the $10.00 incentive, making it a very good opportunity. I don't need the extra years for myself, as I would then be 100+ years old, but I am sure my son and his family will still be enjoying DVC at that time. And I will enjoy watching from above as they have truly grand Disney vacations.

I like the location and the amenities, and the rooms that are smaller than OKW, but still larger-than-most Disney hotel rooms will please me.

Maybe not a good deal to Ric, but they will be to others.

 

[DeeP]

Originally posted by Richyams
Except for the extra ten years, I think SSR is the worst DVC deal there is.

The extra ten years is nice, very nice, but I wouldn't want it as my home resort.....but I only stay in the GVs, maybe that is why I am so opposed to owning there.

The extra 12 yrs is not a small exception nor something easily overlooked. That is a lot more WDW trips and for someone young enough to able to reap the benefits from the extra years this is a big thing!

Let's not exaggerate again, you might stay mostly at OKW GV's but you have been known to stay in other size DVC units including studios and there are your complaining and whining posts on this board regarding the resort to prove it! Funny though you have booked these non GV units at the crammed and awkward resorts on more than one occasion.......go figure!

 

[DeeP]

Originally posted by Chadm
Do you just copy and paste this from thread to thread? I've seen it about 10 times now in different threads. At least there's no doubt about the way you feel.

He has quite a few of these. I hope he has a file on his hard drive with these litanies saved there, it would certainly save a lot of typing!!