Should I sell my DVC membership or rent points to offset the cost?

[Xtine76]

Just looking for a little advice and opinions here. I am contemplating selling my DVC membership for SSR due to a recent decrease in pay/change in job. It's bumming me out to do this, but I may have to. Another alternative I have considered is to rent my points out each year to pay off the loan, but that wouldn't be much benefit either as I will lose out on vacationing. If anyone has any experience with this please let me know, thanks.

 

[Merilyn]

I am sorry to hear about your job. I hope you can find a way to keep DVC because the cost will only go up if you decide later to buy it back. You really have to do what you think is best for your situation. I know a lot of people rent their points and that may be an option for you. Good luck with everything.

 

[Mark099]

The last SSR resale went for less than $80 a point. You can do the math.

Renting your points yearly should cover your monthly payments -- assuming you financed over 10 years. Maintenance fees would be extra. That might be a good way to go for now so long as your budget permits.

 

[Johnnie Fedora]

Unless you need cash right now, I'd consider renting your points out. You should be able to pay for your mortgage and possibly the yearly dues for the points. Since you'll be renting out your points early, you should be able to find just 1 or 2 people to rent to. By doing this, you'll be able to take your time in making this decision. It is likely that if things improve with tyour pay, you may have regeted selling--or worse yet, buy back into DVC at a much higher price down the road. You have 50 years to use it, skipping a year or two and using 48 will still be a lot of fun.

Good Luck

 

[rocketriter]

Rent your points to pay your costs. Sure, you give up your vacations for a while (which you also would do if you sold your points). But when your financial position improves, you go right back to using your points, and in the meantime you've built up more equity in them as well.

 

[TwingleMum]

I'm with everyone else. Rent your points until your finances improve. I hope that happens very soon.

 

[manning]

Don't forget you have to pay taxes on the points rented out.

 

[rinkwide]

...and please obey the posted speed limit.

 

[JudyS]

Sorry to hear about your job loss -- I hope something will come along soon!

If you are really strapped for cash, you can rent out not only this year's points, but next year's points, too. Then, if the situation improves and you want to travel next year, you can borrow points for a vacation. Just keep in mind that if you "strip" all the points off your contract, it will be harder to sell, should you decide not to keep it.

 

[JimC]

Try renting first. You can always sell later.

 

[Judique]

Originally posted by Xtine76
Just looking for a little advice and opinions here. I am contemplating selling my DVC membership for SSR due to a recent decrease in pay/change in job. It's bumming me out to do this, but I may have to. Another alternative I have considered is to rent my points out each year to pay off the loan, but that wouldn't be much benefit either as I will lose out on vacationing. If anyone has any experience with this please let me know, thanks.

Rent out at least for a year or so. That will give you a bit of breathing time and maybe things will change in your life again - ie another job paying more. Selling is going to generate a loss at this time anyway, so it's not like that's a better option upfront. You may save more by buying a bit of time through renting.