Step-by-step buying process for new owner?

[Crystal_27]

Can anyone please take the time to walk me through the exact process of buying through Disney starting from the time that you pick up the phone and say "I want to purchase XX points at XX resort." We are going to buy into BLT in 2 weeks (after we get back from Disney - LOL) and I just want to be prepared ahead of time as to how long everything is going to take and when I am able to use my points. I'm really worried because we want to use our points to stay at BLT in September, 2009 so we're on a relatively small time frame.

Thank you so much in advance for taking the time to help.

 

[RobDoc]

You could call today and let your guide know you want to buy. They can take a deposit over the phone by credit card and you should be able to immediately make a reservation. Actually, since you want to travel in September, I'd suggest having your guide make the reservation for you - since sometimes they can work some Disney "magic" and get reservations otherwise not available.

Your guide will then FedEx the documents needing to be signed and notarized (if you will be using Disney financing). Once those are returned, a closing date will be set up when your balance will be due (either by cash payment or thru Disney financing) and the closing will take place. You may not be able to do some things until the resort actually opens in August - DVC has usually not allowed banking/borrowing until after closing and resort opening - but you will be able to call MS immediately. Your guide can provide your membership number when the deposit is taken.

 

[hellerjw]

As Doc mentioned, it really is a pretty painless process when going direct through Disney. A little too pain free I guess, we have already added on and have only been members 2 years.

Usually within 24 hours of placing your initial deposit ($500 will usually do it on a minimum 160 pt buy-in) you are in the system and can start making reservations. Your guide can also help you with any incentives you may get such as developer points and making reservations with those too. Getting in the system and making reservations quickly is easy. It's coming up with the money and signing the contract that's the hard part

 

[Crystal_27]

WOW - I'm blown away that it's that easy - LOL. One question I did have about putting the deposit (or the balance) on a credit card. We have a Disney Visa and, of course, would like to get every point that we can. How does the deposit and any monthly payment get assessed? Is it considered a cash advance or a purchase? We pay off our credit card every month anyway, but I think if something is considered a cash advance there is some sort of other charge that gets assessed??

Anyway, thanks again for your helpful responses - I'm so excited that it's that easy (although I shouldn't be surprised).

 

[RobDoc]

I'm pretty certain that it would be treated as a purchase on the Disney Visa. At times the Disney Visa has also had programs where there is no interest for 6 months - you might want to check to see if that is currently available.

You cannot make monthly payments by credit card however. You'd need to make full payment if using a card for purchase or for annual dues - UNLESS - you want to set up an autodebit for the Disney financing and/or for annual dues. If you use autodebit for the annual dues there is no service charge. Basically 1/12 of the total is debited each month. That may be set up thru Member Accounting.

 

[Crystal_27]

I'm pretty certain that it would be treated as a purchase on the Disney Visa. At times the Disney Visa has also had programs where there is no interest for 6 months - you might want to check to see if that is currently available.

You cannot make monthly payments by credit card however. You'd need to make full payment if using a card for purchase or for annual dues - UNLESS - you want to set up an autodebit for the Disney financing and/or for annual dues. If you use autodebit for the annual dues there is no service charge. Basically 1/12 of the total is debited each month. That may be set up thru Member Accounting.

Okay - perfect. Thank you again!!

 

[Sandisw]

WOW - I'm blown away that it's that easy - LOL. One question I did have about putting the deposit (or the balance) on a credit card. We have a Disney Visa and, of course, would like to get every point that we can. How does the deposit and any monthly payment get assessed? Is it considered a cash advance or a purchase? We pay off our credit card every month anyway, but I think if something is considered a cash advance there is some sort of other charge that gets assessed??

Anyway, thanks again for your helpful responses - I'm so excited that it's that easy (although I shouldn't be surprised).

The deposit is listed on the Disney Visa as a purchase. They do still have the promotion (I did it with my BLT deposit) that allows you to get 6 months 0% interest on up to $2500.00 of your DVC purchase. Even if you pay off everything else for the month, you can leave that balance there for the full 6 months (that is what I was told) unlike a typical credit card that pays off the charges with "less" interest.

I know when I charged my last WDW vacation, I got the full 6 months--even though I had the money, it was nice to pay it off in increments.

When I added on BLT a last month on 2/7, I had my points within 2 hours!!! Like others have said, as soon as you put down the deposit, they will work hard to get the points so you can make the reservation. They allow you to book the vacation before the contract is signed and closed--as long as you put the deposit down. Matter of fact, I have made a few changes since the initial phone call and have still not signed the papers but my BLT reservation will stay until it is finalized.

You can even ask your guide, as you are going through the purchase phone call, to see if he can check for the availability. I did this since I was taking the DP and not the cruise, and I wanted to make sure I was going to be able to use them in August when I went. When he called MS, he found out there was a lot of availability so I knew I would be set. Once my points were in the system, I called MS immediately and book SSR using the DP points!

It really is a simple and painless and EXCITING process!!!!

Sandi