Save 15% on DVC!

[JW9DVC]

I just looked into this and thought you might be interested. Disney Cast Members are able to get a 15% discount on DVC. Thats pretty cool, Im applying tonight! I don't know the stipulations of course, but an interesting fact. I worked for Disney in the past and I would say its the best company to work for. . Below is a link for the Disney college program mentioning the discount. Maybe you have kids that already work for the mouse, your all set. According to other sources, it is available to all. Something worth checking into.


http://www.flexiblevacations.com/co...ode=CPWEBLNK&CMP=LEC-FY08Q3CollegePrFlexVa103

 

[Chuck S]

Rumor has it that the CM discount is disappearing completely in a few months. It used to be more like 25%, but there were restrictions, like you could not resell it for more than you paid, etc.

 

[locodemickey]

I used my brother's discount of 15% in May and we did not get the developer points or the $500 visa card. I'm thinking that it did not save us that much money and we also have restrictions on sellling now.

 

[JW9DVC]

Yeah, I see to where there are some advantages and dis advantages to both. Depending on how many points during a purchase. You may have some restrictions as selling, really the only one I see is they have ROFR at your original cost. Im going to be doing a small 100 contract at GCV when they are released. Just adding to my 200 at SSR. I may even do just 55 points in honor of Disneyland!

 

[macosx]

Yeah, I see to where there are some advantages and dis advantages to both. Depending on how many points during a purchase. You may have some restrictions as selling, really the only one I see is they have ROFR at your original cost. Im going to be doing a small 100 contract at GCV when they are released. Just adding to my 200 at SSR. I may even do just 55 points in honor of Disneyland!

Does the ROFR carry over after the first resale? I'm not related to Disney and let's say l bought your employee discounted contract at the original price. Ten years from now, prices are $125/point and I have a buyer at that price. DVC retains a $108 ROFR? If that's the case, I'm not going to pay as much for this type of restricted contract, hence lowering your potential resale value. Anyone ever see this issue come up in an actual resale thread?

 

[RobDoc]

Does the ROFR carry over after the first resale? I'm not related to Disney and let's say l bought your employee discounted contract at the original price. Ten years from now, prices are $125/point and I have a buyer at that price. DVC retains a $108 ROFR? If that's the case, I'm not going to pay as much for this type of restricted contract, hence lowering your potential resale value. Anyone ever see this issue come up in an actual resale thread?

Yes, DVC will have ROFR for any resale.

In the example used above you possibly wouldn't even be able to purchase a resale contract for the employee discounted price since DVC would likley exercise ROFR for any purchase below their "floor". DVC does not publicize what the ROFR rates are for each resort (you can get an idea by checking our the ROFR thread here on the DIS), so buyers have no way to tell in advance if they will really be able to purchase at a "bargain". IMO, there would be no advantage to look for a resale from a CM since the ROFR level will be the same as any other contract.

 

[JW9DVC]

If looking to buy resale, The time share store is the best. If looking to buy a small contract where no rewards are given, thats when I would use the CM discount if its available to you. Resale will usually still be cheaper for the big contracts IMO, either or both not including the rewords. The only rewords that you are guaranteed, the the ones you, your family and your friends will have years to come.

 

[macosx]

Yes, DVC will have ROFR for any resale.

In the example used above you possibly wouldn't even be able to purchase a resale contract for the employee discounted price since DVC would likley exercise ROFR for any purchase below their "floor". DVC does not publicize what the ROFR rates are for each resort (you can get an idea by checking our the ROFR thread here on the DIS), so buyers have no way to tell in advance if they will really be able to purchase at a "bargain". IMO, there would be no advantage to look for a resale from a CM since the ROFR level will be the same as any other contract.

I might not have been clear enough in my example. Current sale is $108/point. DVC member buys it for $92/point and whenever allowed, sells it to me for $108. Now I seel it to someone else WILLING to pay $125. Normal ROFR means Disney can buy it for $125, but it seems that the CM deal means they can actually buy it back for ONLY $92. Not only would there be NO ADVANTAGE, it would be very DISADVANTAGEOUS if this is how it worked. Has this ever been an issue, or is it really NOT how it works. I sure hope this situation DOES NOT exist as it would be terribly confusing, and some folks are sitting on ROFR time bombs that they may be unaware of.

 

[Chuck S]

I'm thinking CM discounted contracts probably never hit a reseller at all, they may be contractually obligated to return it to DVC and not list it at all.

 

[CarolAnnC]

I'm thinking CM discounted contracts probably never hit a reseller at all, they may be contractually obligated to return it to DVC and not list it at all.

Actually, one of my resale contracts I purchased was originally owned by a Cast Member. This was a few years ago and DVC, of course, declined the ROFR (fortunately!).

 

[RobDoc]

I might not have been clear enough in my example. Current sale is $108/point. DVC member buys it for $92/point and whenever allowed, sells it to me for $108. Now I seel it to someone else WILLING to pay $125. Normal ROFR means Disney can buy it for $125, but it seems that the CM deal means they can actually buy it back for ONLY $92. Not only would there be NO ADVANTAGE, it would be very DISADVANTAGEOUS if this is how it worked. Has this ever been an issue, or is it really NOT how it works. I sure hope this situation DOES NOT exist as it would be terribly confusing, and some folks are sitting on ROFR time bombs that they may be unaware of.

Current pricing is still $104. The CM discount is only available directly thru DVC - there would be no CM discount on a resale purchase. The CM resale restriction applies to the contract purchased by a CM from DVC.

If you purchase a resale at $108 and can later sell it (to anyone - CMs included) for $125 it would be entirely dependant on what the ROFR level was for that resort at that point in time - but the price you would receive from any buyer would be the price you accepted and submitted for ROFR.

The CM discount would have no bearing on any resale purchase - CM or not. The only seller who would possibly be affected by any CM discount restriction would be a CM (or family member) who used the discount to purchase a DVC contract.

 

[macosx]

Actually, one of my resale contracts I purchased was originally owned by a Cast Member. This was a few years ago and DVC, of course, declined the ROFR (fortunately!).

Were there any additional restrictions that were different than regular purchases? Did you know the owner/CM?

Rumor has it that the CM discount is disappearing completely in a few months. It used to be more like 25%, but there were restrictions, like you could not resell it for more than you paid, etc.

Is this true?

The only seller who would possibly be affected by any CM discount restriction would be a CM (or family member) who used the discount to purchase a DVC contract.

If there is a difference in contract that only applies to the CM, then assuming there's a chance of appreciation, the CM (or relative) who are held to this requirement should take the earliest opportunity to make a transaction to eliminate this restriction. Too bad it would cost several hundred dollars, but exchanging contract with identical contracts may be sufficient (sell and buy back different contract without such silly requirement).

The problem isn't regular ROFR which affects all contracts, but the rumored maximum price.

 

[RobDoc]

...
If there is a difference in contract that only applies to the CM, then assuming there's a chance of appreciation, the CM (or relative) who are held to this requirement should take the earliest opportunity to make a transaction to eliminate this restriction. Too bad it would cost several hundred dollars, but exchanging contract with identical contracts may be sufficient (sell and buy back different contract without such silly requirement).

The problem isn't regular ROFR which affects all contracts, but the rumored maximum price.

The reason for the restrictive contract was to prevent a CM from buying a contract with the discount (it has been as high as 25%) and then reselling it on the resale market - effectively competing with Disney's direct sales.

I've not seen the actual wording of the restriction, but there have been many comments about it on this forum so it's clear the restrictions do exist on at least some contracts purchased by CMs.

If a CM (or family member) purchases with the intent of using the membership, the discount is a great incentive. If a CM purchases with the plan to resell in a short period of time, the discount may end up costing them in the long run. That is a decision for each individual CM or family member.

There is presently no process available to exchange a contract with identical contracts - it would require a resale and new purchase. Hopefully any CM considering a purchase would know their intent before the initial purchase and if the rumor about discontinuing the CM discount is indeed factual, it is a moot point anyway.

 

[oakmanner]

We just purchased 185 points @ SSR using my Cast Member discount (25%) in July. I heard/read on the boards that the CM discount was going away at the end of July in anticipation of BLT.

Does this mean that DVC will be giving CM's a 15% discount on BLT or any other new DVC offering?

Dennis-