Should I buy into DVC?

[MYD714]

I need some good advice. My husband and I took the DVC tour and are thinking about joining, but I'm not sure if it's for us. I usually plan our Aug. vacations in April, at the earliest. The idea of booking 11 months out (before I even have a flight) scares me.

We typically go to Disney every year, always in August (we're teachers). We stay either value or moderate, sometimes deluxe if there's a good deal. I'm sick and tired of the value resorts. We started staying value to save money because we were going at least once a year. I want something better, but can't afford to shell out big bucks all at once every year. However, I'm getting to the point where I am miserable at the value resorts. This summer I stayed at AKL in July and Pop in August. Needless to say I spent my August trip missing AKL.

DVC would be a huge purchase for us, but I feel it's the only way I can go to Disney every year and stay deluxe. Is that crazy?

I'm also wondering:
How hard will it be for me to book in Aug. every summer both at my home (AKL) and at others such as BCV and BWV?

Is it easy to book DL and DLP?

Is it easy to change a reservation?

Is the world passport collection as hard to book as it sounds?

I feel crazy because I can't make a decision.

Any help/advice would be greatly appreciated. Thanks!

 

[moredisneyplease]

I can't help you with all of your questions but I can tell you that I used to stay in value and moderate and now absolutely LOVE being spoiled at the deluxe resorts!! I personally would have never paid hundres and hundreds of dollars each night to stay at BW or AKL or BC and now I stay there without breaking the bank!

I, like you, never book at the 11 month window just because i dont plan that far in advanced. If you are absolutely insistant on staying at AKL then you might want to start booking between 7-11 months jsut to get what you want! If you aren't all that picky and wouldnt mind trying the other DVC resorts then you can book within the 7 month window and just take what you can get.

If you plan far enough in advanced then you should be able to get DL and DLP HOWEVER, the point usage per night at both of these locations is rather high so dont buy DVC with the intentions of going to these locations (well, you can do DL once GCV opens) frequently.

Changing reservations can be a bit tricky depending on how far in advanced you cancel and how many more months are left in your use year. I dont have all of the details memorized but I know others do so they can fill you in from there.

Personally, I absolutley love my DVC and have never regretted those purchases! Good luck with your decision!

 

[SLK1]

We just joined back in March (on the cruise) and we have been very happy so far. You didn't mention if you have kids, but since you do not, I would think it would make things even easier (i.e., I have four kids and we must always stay in a two-bedroom, which uses many more points). Anyway, we have already stayed at the Grand Californian on points, and this past Saturday, I booked four days at Vero Beach for March- this is seven months out so you don't always have to stick to that 11-month rule...as a matter of fact, I think that ONLY applies to your "home" resort. As for the Concierge collection, I just tried to book a room in New York at the Loew's Regency (I think is what it's called) and I could not get my weekend, but I could easily change dates to one month later and there was availability. Given that I was only giving them two weeks notice, I didn't think that was bad at all. Disney's flexibility is unmatched - you can stay one night, you can stay a whole week. Banking, borrowing, and using have all been extremely easy so far for us, although it does take a little getting used to. The phone reservationists are very helpful too. Good luck, but I will tell you that if you can swing it financially, it is a good purchase!

 

[MYD714]

It's good to see that DVC can be affordable. I guess I'm worried about shelling out all of this money and not being able to use it. I don't want it to be a burden or a hassle.

I really love all the DVC resorts (I've seen them all except OKW). I would stay at any of them. I feel like all I do is dream about taking disney vacations.

At first, we loved the idea of traveling to other places. We love going to Hawaii, and saw this as a way to get there more often. However, that doesn't seem to be the case.

We also want to do DLP and a trip to Ireland sometime in our lives, but it just seems like paying cash would be easier than DVC. In those cases I guess we would rent our points for those years (?).

 

[dizplanner]

I usually plan our Aug. vacations in April, at the earliest. The idea of booking 11 months out (before I even have a flight) scares me.

As long as you cancel before 30 days out or before you need to bank your points, there is no penalty to booking a tentive week at 11 months. You at least know what month you want to travel in. Choose a week that is likely and book it. You can modify it later if you need to move it a day or two because of airfare.

We typically go to Disney every year, always in August (we're teachers). We stay either value or moderate, sometimes deluxe if there's a good deal. I'm sick and tired of the value resorts. We started staying value to save money because we were going at least once a year. I want something better, but can't afford to shell out big bucks all at once every year. However, I'm getting to the point where I am miserable at the value resorts. This summer I stayed at AKL in July and Pop in August. Needless to say I spent my August trip missing AKL.

DVC would be a huge purchase for us, but I feel it's the only way I can go to Disney every year and stay deluxe. Is that crazy?

Not crazy at all. Just make sure DVC fits into your budget. If you can't pay cash, make sure the loan payment and maintenance charges every month will not stress your finances.

I'm also wondering:
How hard will it be for me to book in Aug. every summer both at my home (AKL) and at others such as BCV and BWV?

August is not a high demand month so I don't think you would have any problems booking AKV any time before 7 months and you will probably be able to switch to other resorts at 7 months. I wouldn't wait until April though. That is only 4 months - you would need to be more flexible if you waited that long and would probably end up at SSR or OKW most of the time.

Is it easy to change a reservation?

The mechanics of it is very easy. Just call and member services will take care of you. The challenge would be availability. However if you cancel within 30 days, your points are severly restricted. Also if you want to bank your point into the next year or book outside DVC, you need to do in the first 8 months of your use year.For example, since I have an Aug use year, I must bank my points by March 31.

 

[vandy]

At first, we loved the idea of traveling to other places. We love going to Hawaii, and saw this as a way to get there more often. However, that doesn't seem to be the case.

Do you mean by exchanging your points for other travel? Disney is building it's own DVC resort in Hawaii as well and should open in a couple of years so you won't have to exchange !

I showed this in another thread and maybe it can be of benefit to you. It does not take into account finance charges if you finance a loan, it does not figure in any interest income if you were to invest this money instead nor does it figure in yearly increases in the maint. fees. It will also not include the yearly increases in room rates! It is simply to compare the costs for this year This is assumming the $8 off per point incentive.

7 days at AKV in a standard view, 1 bedroom villa, August 1-15 will be 225 points (August 16-31 is 198). 225 points at $96/pt is $21,600. Divide that by the remaining contract years (48??) and your yearly cost is $450.00. Annual dues at AKV are currently $4.71/pt or for this year $1059.75. Your cost for this year (purchase price + dues) is $1509 or $6.71/pt. How does this compare to the cost of a moderate or deluxe room for 7 days? The cost this year for AKV is around the $6.71 mark so multiply that by the number of points you will need to find your yearly cost and compare to your room rates. Hope this helps and doesn't confuse you even more!

 

[Dean]

The exchange options are not a good value and someone who plans only 4 months out or less should definitely not buy into any timeshare including DVC. One should also never buy a luxury purchase, esp a timeshare, and finance it. OTOH, if you could plan better, DVC would be a great choice for many in your situation otherwise.

 

[robandkelly13]

Dean, I want to know what you do for a living, not to have to Finance a $30,000 timeshare. I am 100% disabled from the Iraq War and my wife is a school teacher, so what you are saying is that because, I can't work and get some high paying job, I shouldn't bother with DVC.

 

[crisi]

I'll be a naysayer.

I miss Deluxe hotels. DVC units are perfectly nice. But they are not the same as CRO Deluxe hotel rooms.

April to August is four months out - plan on staying at SSR or OKW. August is not that busy, but its busy enough.

Switching reservations can be a pain if you don't take care of your banking window and when your points expire.

DVC is best for planners who don't make a lot of changes. It can be worthwhile for other people - but it WILL involve additional hassle which you state you don't want.

 

[crisi]

Dean, I want to know what you do for a living, not to have to Finance a $30,000 timeshare. I am 100% disabled from the Iraq War and my wife is a school teacher, so what you are saying is that because, I can't work and get some high paying job, I shouldn't bother with DVC.

I can't afford the Harry Winston diamond choker I really want either. The reality of life is that some people can afford things other people cannot. But I will say that a lot of people can afford not to finance a $30k purchase.

 

[Dean]

Dean, I want to know what you do for a living, not to have to Finance a $30,000 timeshare. I am 100% disabled from the Iraq War and my wife is a school teacher, so what you are saying is that because, I can't work and get some high paying job, I shouldn't bother with DVC.

First, let me thank you for your service to our country and say that I'm sorry for the injury that disabled you. I have 6.5 years active duty and was called up for Desert Storm. Still, that doesn't change my feeling that people should not finance vacations, period, cars either for that matter in almost all cases. One needs to live within their means. Certainly if one truly can afford to buy in to DVC and it's important to them, they can find a way to do so without financing it. Save monthly, skip a years vacation, buy less points initially and keep saving to add on later. It's certainly one's choice to go into debt for a luxury item, that doesn't change my opinion of the choice itself, it's simply a poor one. Someone will likely post about all the good memories and that's true to a degree but for many people that stretch themselves too thin, there is more stress generated than good memories overall (money #1 issue in divorces). And I'll always contend one can have the memories without the debt and subsequent stresses if their finances justify the ownership itself and they plan accordingly. Not everyone can even afford to go on vacation (sadly. I would bet that I spend less (considering all costs including up front) on a similar vacation than most anyone here because I put the effort to educate myself to get the best value I can. Don't think of me as a nay sayer but as a cheerleader because I know you can do it without financing and you'll enjoy it all the more.

 

[lapeter]

I'm going to guess that of all DVC members, way more than 50% had to finance. I agree with Dean that it is better, not necessary, to pay cash. Today I can pay cash for most things, but in my 20's to 40's that was not always the case. If you want something and think you can afford it, cash or financing, GO FOR IT!!! I would not take offense at Dean's comment, these boards are for people to offer their opinions. That's why Baskin Robbins make 31 flavors.

 

[hakepb]

Dean is offering the most responsible piece of advice possible to future DVC owners.
Yes there are many owners that have made DVC financing work, there also seems to be a large # of resales on the market because of the economy. (Where DVC owners got overextended). Anyone financing DVC needs to understand, and be responsible for any possible negative future consequences.

 

[dfchelbay]

I don't book eleven months out. I've booked a month or two out and even a week or two before I arrive. Just look at what's available. You have so many resorts on property to choose from. Since you're a teacher, you can even go during Christmas, winter, and spring break...not just in August.

 

[Rlbren]

If most of us try to do things without financing, we'd be stuck with lifetime of All Star Resorts..... so maybe if some of you naysayers on financing had spent any time in the value resorts you'd do whatever it took to purchase DVC.

 

[Dean]

If most of us try to do things without financing, we'd be stuck with lifetime of All Star Resorts..... so maybe if some of you naysayers on financing had spent any time in the value resorts you'd do whatever it took to purchase DVC.

To me the "whatever it takes" means sacrificing, skipping a year, staying off property if necessary; basically actually sacrificing to have what I want. I've done so and I've also been in a situation where I couldn't do a vacation at all, much less at WDW. I've also worked 28-29 days a month for several years not to have debt and to pay off what little I had, with no vacations during that time. IMO, there is almost no situation where financing a luxury purchase or vacations is reasonable. For DVC the only exception MIGHT be where one has money coming that is guaranteed and if you waited, there would be extra costs. The only other situation that comes to mind is when an investment is involved such as a vacation home if other factors are favorable. For some I might at least understand if there were not alternatives such as buying a smaller contract and then adding on later once one had saved up. I realize that some just can't get it together or have enough discipline to do as I suggest (save up to buy) and use the loan as a forced savings but I suspect we disagree on the reasonableness of whether they should vacation at all, much less at an expensive place like WDW. And there are FAR cheaper ways to visit WDW than the value resorts if lodging cost is an issue, it can easily be done for less than $300 a week.