Should we go for it?

[JayCT]

We toured BLT yesterday and really loved it. We are now considering it. They are offering points at $112 plus a $5 incentive if we sign before we leave. I am wondering how if this incentive would be available after we leave. They say no but I wonder if that is just to get us to commit. Can more be negoiated? Any thoughts on this?

Also, their financing is 10.75% which I feel is very high. Our home equity is under 5%. Is there any reason to do their financing? Any thoughts? Jay

 

[calypso*a*go-go]

If you are seriously considering the purchase of a new membership, you should know the price per point is rumored to be increasing very soon (several people have heard it will go to $120 pt - but we won't know for sure until it happens). Also, I'd say to use whatever financing you can that provides a lower interest rate as there are no additional benefits by financing through DVC. Sent you a PM with more info. Good luck with your decision!

 

[HeatherDew]

Hi JayCT,

In my experience, DVC will typically still honor the offer even if you contact them later. However, current DVC incentives are in the process of ending (possibly changing), and good sources have it that the BLT price is going to increase soon, so they may not be able to honor existing pricing/incentives if you wait too long.

That said, there was an incentive offered that recently ended but has supposedly been extended for a few days. The incentive gave new DVC members a savings of an additional $6 per point on 160-199 points and $8 per point on 200+ points with a referral from an existing DVC member. With the current $5 off per point, that would be a total of $11 or $13 off per point, depending on the number of points you are buying.

Hope this helps! If you have any more questions, just let me know!

 

[ToddyLu]

I second the rumor about uping the price to $120 around the first of October. Good Luck


Our home is paid for, but we chose Disney financing becasue we wanted to move on the purchase and we could not find anyone financing time shares.

 

[HeatherDew]

Regarding the financing, I agree that Disney's rate is high. If you have a better source of financing, I would go that route.

The only benefit I know of to using Disney's financing is that it does not count against you for credit reporting purposes...something about the way Disney processes it.

Something else you may want to consider, is using the Chase Disney Visa for your DVC purchase if you have one. You can get deferred interest for 6 months on $2,500 of the purchase, although some DVC members have reported getting the deferred interest on the entire purchase at much higher amounts. In addition, you would earn Disney Reward Dollars (1% of amount) for your DVC purchase, which you can get in the form of a Disney Gift Card. If you have the ability to write checks against your Home Equity line, you may then be able to pay off the Visa with that money when the deferral period ends.

 

[Sandisw]

We toured BLT yesterday and really loved it. We are now considering it. They are offering points at $112 plus a $5 incentive if we sign before we leave. I am wondering how if this incentive would be available after we leave. They say no but I wonder if that is just to get us to commit. Can more be negoiated? Any thoughts on this?

Also, their financing is 10.75% which I feel is very high. Our home equity is under 5%. Is there any reason to do their financing? Any thoughts? Jay

One of the reasons that the guide may have mentioned about the incentive only being available if you sign today is that the current incentives are rumored to end by tomorrow.

Once they end and/or change, unless you have started the process, you can not get them back if the new ones are worse. If you sign, you lock in the deal they are offering. If the incentives get better, and your contract has not closed, you can ask that they be rewritten to get the better deal.

As far as financing, one of the benefits (if you can call it that) is that the Disney loan does not show up on your credit as a debit. That may or may not be important. The rate is high and if you are in a position to feel comfortable to use your HELOC at the lower rate, you will save.

When we bought, we signed up for Disney with the intention to search for a better rate. It allowed us to start the process as we looked. We figured it out before we even closed and I just called up and paid the balance using my Disney Visa.

I don't know if you are aware of this, but if you have a Disney Visa, you can put up to $5000 on the card and get 6 months, 0% interest.

If BLT is something that you knew you wanted, then starting the paperwork with current incentives may be a good thing. If you are really not sure, then I would hold off, as this is a big purchase and you want to be sure.

Good luck!

 

[Roveer]

We toured last week and the breakdown was as follows:

112 per point
-5 DVD discount (can't remember if this was for over 200 points or not)
-6 Referral Discount (have to get one from the Disboard thread)

= 99.00 per point

They were also throwing in a one time allotment of points equal to the amount you purchased. So if you purchased 220 points then they'd give you an additional 220 points (for use in 2010 I think). Not permanent, just one time. Dont' know about MF's on those points. Think they were waived

 

[CarolAnnC]

Folks, with the ending of the Member Referral incentive as of August 25, we have returned to our policy of no referral offers allowed here.

Whether rumors are true or false, we have locked the referral thread and will not be allowing any further offers. Subsequent postings with offers of "referrals" will result in infractions being awarded per our Posting Guidelines.

Should the program be reopened in the future, we will revisit at that time allowing referrals again on the boards. Till then, no no though...thanks all!

 

[JayCT]

Thank you all for the responses. This has been a wonderful help. We really were considering joining but ultimately decided to pass right now. The deal is excellent but we are now thinking that our next trip will not be to Disney or to any of the locations that could be used. Plus financially, while we can aford it, there are more important things we need to do with that money right now. This may change in a few months though and we will consider it again then. Thanks again. Jay