Spring Direct Incentives 2/9-4/27

[VGCgroupie]

I'm wondering how someone could actually abuse this? I mean...you pay or you don't pay. And if you don't pay, you're penalized, I'm sure. So what kind of abuse would there be?

You dont make your payment and QA has to reach out to you, takes man power to hunt people down for payments. You don't pay by the cut off, at that point they cant foreclose because it not financing it was just delayed payments, this also costs them time and money. In extreme cases people have access to points and may have actually used them but not paid. Financing is different because you are tied to them by way of credit. Delayed closing w/ spread out payments is not the same.

 

[Add-On-Itis]

That might not be a change. My guide a few weeks ago said that is the default now and that 45 days require approval from two layers of management above her (although also noted that wouldn't be too difficult to get for a cash purchase). Wouldn't be surprised if some guides are just saying, it's 30 days, and won't do anything unless pressed to do more or unless they think it would help secure the deal.

the 60 day I got was super lucky. It wouldn't be optimal to get points if I had to swipe all the payment in 30 days. I would have to use inferior credit cards.

 

[airjay75]

You dont make your payment and QA has to reach out to you, takes man power to hunt people down for payments. You don't pay by the cut off, at that point they cant foreclose because it not financing it was just delayed payments, this also costs them time and money. In extreme cases people have access to points and may have actually used them but not paid. Financing is different because you are tied to them by way of credit. Delayed closing w/ spread out payments is not the same.

Yeah, now that you mention that, my guide was mentioning someone she sold points to from the UK, and they were having a lot of trouble chasing him down for his payments. Maybe it wasn't intentional, but I'm sure there are people who just blow off the payment deadlines. Or, the charge on their credit cards are flagged and denied because they are so large, but they don't take the time to resolve it.

I seem to recall people saying the past that you actually have 30 days or something like that to e-sign your documents and have them take your first credit card payment - I guess maybe that added on an extra 30 days to the 90 day period? Not sure.

 

[Sandisw]

My understanding is that there is some language in the governing documents for DVC that would, in practice, not allow the inventory to be separated out to another association/use agreement unless Disney owned 100% of the inventory. I believe recently @Sandisw actually added more information that, at least in her view, even if a unit was owned 100%, it would not allow Disney to remove that inventory from the previous association, and pull it over to a new trust product.

I wonder how Wyndham was able to do it - perhaps their documents don’t have similar language to DVC or, perhaps the Wyndham community didn’t fight it, which made it possible.

As I understand it, Marriott and Hyatt have been successful in “moving” inventory from deeded owners through voluntary encouragement, ROFR, foreclosure, etc. to convert the owner’s deeded interest to access to the Trust Points (MVC Points, Hyatt Portfolio Points, etc.). I presume that is because the language for the deeded owners states what they are legally guaranteed is their unit in their week, and they may be able to exchange or something to that effect. I’m not an owner in either program though, so I have not read the documents.

In my review of it all, inventory can’t be part of more than one association in the way the DVC trust is set up.

There are many models that can exist, including for those that sell an ownership interest, so the ones that moved things in the other systems may have a completely different set up for not only the trust by the original resort.

 

[ClaraOswald]

You dont make your payment and QA has to reach out to you, takes man power to hunt people down for payments. You don't pay by the cut off, at that point they cant foreclose because it not financing it was just delayed payments, this also costs them time and money. In extreme cases people have access to points and may have actually used them but not paid. Financing is different because you are tied to them by way of credit. Delayed closing w/ spread out payments is not the same.

Interesting. For my payments, I picked the dates and gave them my CC info. And the payments automatically go through on those dates. So there's no way I could NOT make a payment unless I actually called them to cancel/change it.

Are people able to spread out payments without giving them CC or bank info?!

 

[ClaraOswald]

Oh...and the ability to book points before closing is seriously nuts to me. I don't think that should be allowed until after closing. (And then if that were the case, annual dues shouldn't start until the day of closing as well.)

 

[VGCgroupie]

Interesting. For my payments, I picked the dates and gave them my CC info. And the payments automatically go through on those dates. So there's no way I could NOT make a payment unless I actually called them to cancel/change it.

Are people able to spread out payments without giving them CC or bank info?!

Maybe they have changed even that part of it. I called and made my payments, no CC was saved by them to process my payments. It was 100% on me to call and make the payment.

 

[bimmertt]

My guide said they would ask for proof of my Disney Visa card and never actually did. Anyone have to provide proof, and if so, what did you have to do?

I'm wondering the same thing. I showed my guide the card at our member update, but is there additional proof I will have to provide during the actual purchase or QA process?

 

[VGCgroupie]

Interesting. For my payments, I picked the dates and gave them my CC info. And the payments automatically go through on those dates. So there's no way I could NOT make a payment unless I actually called them to cancel/change it.

Are people able to spread out payments without giving them CC or bank info?!

Maybe they have changed even that part of it. I called and made my payments, no CC was saved by them to process my payments. It was 100% on me to call and make the payment.

Also to add just because they have your card to process a payment doesn't mean it will go through. Like I said in my original statement people will abuse systems put in place.

 

[Sandisw]

How is it abusing the system when you're doing what you're allowed to do? When I did my last add-on I did 90 days and I didn't feel like I was abusing the system nor do I think anyone else should for spreading their payments out.

I wouldn’t say abusing but I think that DVD has decided that it’s more of practice that they no longer want to allow.

When I first bought, 30 days was it but over time, people asked for and got more days and then it snowballed.

My guess is that DVD wants them closed faster to make the back end accounting and sales data to closely match things?

 

[ClaraOswald]

Maybe they have changed even that part of it. I called and made my payments, no CC was saved by them to process my payments. It was 100% on me to call and make the payment.

Interesting. I guess I didn't even think about it. I just asked if he could put the payments on my Disney Visa and if I could spread it out because of my limit. He had me pick the dates and that was that, basically. (Of course, I've since increased the credit limit so I didn't even need to wait but that's okay.

If I log into the DVC site, it shows my upcoming payment amount listed with tomorrow's date so I'm assuming it's set to go through. I will be checking because I plan to pay the balance immediately anyway.

 

[VGCgroupie]

Interesting. I guess I didn't even think about it. I just asked if he could put the payments on my Disney Visa and if I could spread it out because of my limit. He had me pick the dates and that was that, basically. (Of course, I've since increased the credit limit so I didn't even need to wait but that's okay.

If I log into the DVC site, it shows my upcoming payment amount listed with tomorrow's date so I'm assuming it's set to go through. I will be checking because I plan to pay the balance immediately anyway.

Oh yes I remember they made the updates to the site to now show payments. Wasnt that way before. So it sounds like maybe they did run into problems like I suspected.

 

[WishfulVibes]

My guide said they would ask for proof of my Disney Visa card and never actually did. Anyone have to provide proof, and if so, what did you have to do?

My guide gave me the option of using the card for the deposit or join a zoom call and show him the card (which is what I did).

 

[ah10is]

Just to say, I didn't show my D23 card. All I did was mention it and I got that discount on my RIV FW 49.

 

[intamin]

Just to say, I didn't show my D23 card. All I did was mention it and I got that discount on my RIV FW 49.

Hrmm seems guide dependent, I screenshotted my membership to him to get my discount

 

[eticketplease]

I have to think Chase makes a ton of money off the 6 month 0% financing, both with DVC purchases

Agreed even if Disney is granted a merchant fee of only 1% per swipe that is still $300 that goes into Chase’s pocket on every $30k. Then of course if people can’t pay it off in 6 months that is when Chase starts getting really excited.

 

[Genie+]

Back when we bought I asked about spreading payments over 90 days. My guide said yes, we can break in 4 equal payments and schedule each 30 days apart. So we put 25% down with 2 cards, and DVC scheduled auto-pay to repeat that for the next 3 months.

Our strategy was to pay the cards each month before the new charge came in. It is open to hiccups for DVC because if we didn’t pay them off and stay under our limits, the next payments wouldn’t have gone thru. Life is full of surprises and it could be hard or take time figuring out a new plan. The road paved with good intentions and all.

There’s probably a bunch of reasons together for making the changes.

If you don’t have all the money today they are happy to arrange financing or welcome using a Chase Disney Visa with deferred interest. I’m sure they would’ve preferred that over us churning cards unrelated to the mouse.

 

[VGCgroupie]

Back when we bought I asked about spreading payments over 90 days. My guide said yes, we can break in 4 equal payments and schedule each 30 days apart. So we put 25% down with 2 cards, and DVC scheduled auto-pay to repeat that for the next 3 months.

Our strategy was to pay the cards each month before the new charge came in. It is open to hiccups for DVC because if we didn’t pay them off and stay under our limits, the next payments wouldn’t have gone thru. Life is full of surprises and it could be hard or take time figuring out a new plan. The road paved with good intentions and all.

There’s probably a bunch of reasons together for making the changes.

If you don’t have all the money today they are happy to arrange financing or welcome using a Chase Disney Visa with deferred interest. I’m sure they would’ve preferred that over us churning cards unrelated to the mouse.

Probably lots of reasons. But seems if everything went smoothly it would be no big deal as it allows many more people to buy. It must have came to point where it was costing them more than they think it was earning them so they are seeming to slowly transition out of it. I can say no chance I ever would have agreed to financing and there many that are like me. The financing spiel that was given to me before I ever thought seriously about buying DVC was a huge turn off.

 

[Cfabar1]

Fundamentally, why aren't they doing the 90 day closings?

Because, in their estimation, they don't have to in order to achieve their desired sales/revenue targets.

If at some point, they feel offering longer terms is to their benefit, they will do so...

When I bought direct, between the 90 days, and the six month no interest payments with DVC Visa, in essence, oversimplified, I got a year to pay off my DVC loan...

That was helpful to me...

But, DVC might feel offering that flexibility, while it was helpful to me, is not materially important for their sales goals and targets.

 

[VGCgroupie]

Fundamentally, why aren't they doing the 90 day closings?

Because, in their estimation, they don't have to in order to achieve their desired sales/revenue targets.

If at some point, they feel offering longer terms is to their benefit, they will do so...

When I bought direct, between the 90 days, and the six month no interest payments with DVC Visa, in essence, oversimplified, I got a year to pay off my DVC loan...

That was helpful to me...

But, DVC might feel offering that flexibility, while it was helpful to me, is not materially important for their sales goals and targets.

Yeah, Id bet 70% of people requesting to spread payments learned about it here or some other SM page. Not all guides offer it or encourage it.