Saying no to DVC...for right now

[Kanga1]

Well, we decided that we are not buying into DVC right now. I am really sad about it, please make me feel better.

We've had DVC in the back of our minds since our first magical trip in 2005. We have been back to WDW every year since then. This past July, DH and I started seriously discussing DVC and took the tour. Almost bought on the spot, but my gut was nagging at me to think about it some more. We did the "5 minute" application, put down $500 plus the closing costs, and came home. Since then, I have run the numbers and I just don't think now is the time. I have panic attacks thinking about being strapped for money. We have a mortgage (will be paid off in 6 years) and a car payment (will be paid off in 2.) Other than that we are debt free and that lets me sleep at night. Yes, we could afford the monthly payment if we financed through DVC, but if we did that, we wouldn't have money to save for meals, park tickets, etc. that we would need for our vacation.

I think we'll wait until we have the cash to buy it outright. We make plenty for us to go at least once a year for 10-14 days in a moderate or even a deluxe if I get a pin or significant discount (which I've been able to do the past 3 years.) And shoot, even a value will suffice for just the 3 of us. I like the idea of having DVC and "pre-paying" for future vacations, but not if I'm having panic attacks if our monthly expenses run a little high. There. I feel better. Thanks for letting me talk myself through this.

 

[3girlsfun]

It sounds like you made the right decision. Just think, in 2 years when the car is paid off, how much "extra" money you might have, or in 6 when you have the mortgage paid off!!!

We haven't made our final decision as of yet, but, I know we are going to wait until after we take the tour on our October vacation. I know we are going to save to pay cash for it. Once we have the money saved up, then we will make a rational decision.

Just a side note... my mom and dad had put down a deposit on a Motorhome they wanted to purchase because it seemed like such a great deal. My mom went home that night and could not sleep. She got ill thinking about making the purchase. She canceled the check that she had made the deposit with, and called the dealership to let them know. She instantly felt better.

About two months after that, they found a used motorhome (that had only been used like 5 times) for $50,000 less than the blue book value. They purchased it on the spot! She is still obiviliously happy about it! SO, you will know when it is right.

Sorry you are sad for now, but just think.......you can always go to Disney, even if you aren't a owner at DVC!

 

[nunzia]

Good for you It isn't for everybody and right now is clearly not the time for you. At some point that may change and then you'll feel good about it.

 

[galnar]

I commend you for your fiscal responsibility. If everyone was as disciplined our country wouldn't be in such a mess.

 

[JBx3]

I also totally respect your decision! It sounds right for you. Hey we toured and did not purchased, took even more WDW trips and then 1 1/2 years later we went back and purchased DVC. Don't worry when you are ready, you know they will be as well.

On a side note, please take the time to view the resale market. Once i studied resales and learned from many great Diser's, my next purchase was resale, only wish our first would have been!

Terrific decision you made and a great thought process, enjoy many good sleep nights!

 

[Deb & Bill]

All you need to do is find an owner you are comfortable with and rent a reservation from that owner. Gives you a nice vacation in a DVC villa without all the DVC cost.

 

[sajetto]

GREAT decision. I wouldn't feel bad about it one bit if I were you. You're making responsible choices that other people could learn from, but it seems like most are focused on having it NOW, NOW, NOW. DVC will still be there.

 

[ddoconnell]

The fact that you had been having panic attacks lets you know it just wasn't for you right now. We love ours....but we only bought when we both felt truly comfortable with it. Enjoy your future trips and you will know if/when it is right for you.

 

[csharpwv]

If I were you I would keep an eye on SMALL (100 points or less) contracts.
The reason why I say that is that you can always bank-borrow and use a 100 point contract and have 300 points every three years or less if you have points left over - or depending on the size of villa you want.

There are perks to doing this- DISCOUNTS being one of the big ones!

The next nice perk would be the ability to be 'in' on add-ons at discounted member prices!

We own three contracts - 260 at Animal Kingdom - 200 at Bay Lake Tower - and 85 points at Saratoga Springs.

Check out the resale market - it's 'just as good' as buying from Disney - and there is not a minimum 'buy in' required.
This way - DVC will grow with you and your family!

I would suggest Old Key West with the extended deed time - or Saratoga Springs - those resorts have a good price per point - and affordable maint. fees.

We LOVE being DVC members - we are ALWAYS planning and dreaming.

SO - instead of staying awake worrying about your finances - stay awake dreaming about your time at Disney - by the pool - on the Monorail - or walking right down the middle of Mainstreet USA

 

[mdsd8700]

I completely agree with all the OPs, you have made the right decision. Although we never had money down as a deposit, we thought about DVC since about 1995 and seriously have considered it for the last 3 or 4 but just purchased in June. We always knew we would, we just had to wait until it was right for our family. You will know when that time arrives. In the meantime you will still have many magical Disney Memories!

 

[lilpooh108]

Good for you! I'm glad you made the decision that is right for you.

I think you will be happier in 6 years, after your mortgage is paid off, when you finally sign on the dotted line.

 

[Crystal_27]

Don't fret - - when the time is right, DVC will be there waiting for you to buy.

 

[Jason@dvcstore]

I have panic attacks thinking about being strapped for money.

You don't want any purchase to give you panic attacks so in my opinion you made the right decision.

Jason

 

[cseca]

Hey, having DVC is supposed to help you relax and unwind not give you headaches and panic attacks

You did the right thing, and I think I remembered reading another thread that says people nowadays don't know the meaning of delayed gratification. This just means that when you are finally ready to become a member, it will be even sweeter...

Good for you for being responsible!

 

[BeesKnees]

Everyone should face the decision to buy DVC in a similiar way. Think of all the reasons not to do it so when/if you do you know it was the right decision. You are 3000 percent right... you can get to disney and have a nice vacation for less and you should keep reminding yourself of that. I tell everyone who is interested in dvc the same thing.

It may never be the right decision for you and if it isn't that is okay. While there are perks and discounts many of the benefits are intangibles that may not mean as much to you. They mean a lot to me which is why I don't regret it.

We financed for 7 years and paid it off in 4 years so it was not a burden for us. If it had been a burden we could not have enjoyed ourselves as much.

 

[BEASLYBOO]

My personal view on vacations is not to finance them. So when I fell in love with OKW (friends let us use their points since they were out of the country) I knew I couldn't afford it through Disney so I looked at resales to get an idea of the current costs. I determined how many points I could afford and then I saved up (2 years) and paid for them in full. Some would say, why deprive your family of immediate fun and memories, well I didn't, we still went to Disney, we just didn't stay on-site. When the time is right, you will know it.

 

[mouseaider]

You've just done exactly what we did in 2007 !

We were so leaning to buy into SSR after we took the tour.... and we loved our guide so much, but it wasn't right for us then and in our heart we knew it.

We've been back for two stays since then and we just finally decided to join with a small 100 point contract with TSS but we can pay cash so it's finally a go.

When the time is right.... you'll know it.

 

[BeesKnees]

My personal view on vacations is not to finance them.

That is a good personal view. I don't share it. The contract we purchased 10 years ago is worth more now on resale than we paid with interest because the points have continued to go up in price. Also, in that time we have had 18 vacations 6 of which included family which means without getting too far bogged down into the math we have easily gotten 2.5 more lodging than we spent on the contract with interest.

We knew that most months we would be able to afford double payments and for us that was enough to take the plunge when we did. I think financing should be a decision that is tough especially on a vacation property but had we waited we would have been faced with a higher cost that would have made the decision more difficult.

 

[JWG]

I think there's about 3 "finance or pay cash" threads going on right now, so I think I'm repeating myself.

We today, can easily pay cash for 75 BLT points (this is an add on, not first time purchase, that may make a difference). We could stretch to 100. Anything more would have to be financed. We ideally want 150.

I think we're going to purchase 75 now and save up to add 75 in 3-5 years. We could finance the additional 75 but will wait. We intend to stay in a studio with our DD until she's a bit older and then we'll want to flip to a 1BR.

 

[DenLo]

Don't fret, doing what is best for you and your family is the way to go. And remember buying into the DVC is not a one time chance. Maybe down the road it will work for you. A vacation is supposed to help you relax not give you nightmares.

Good luck and may you still have some magical vacations at WDW.