Talked to my guide today about current incentives at AKV....if this what you though??

[GuySmiley]

this is what we were told and what we've actually booked....

AKV Kidani points booked for June at Jambo ~ they are the same points in the end and it is not even close to the 7mth mark. To the PP who's guide is spouting such nonsense, I'd go above her to a manager and ask that she be 're-educated'! LOL

AKV Kidani points ~ cannot be booked for any ressie prior to May 1st. Since it isn't 7mths out from May yet, the only place you could at this very moment book a room is at AKV, either building.

SSR developer points ~ can be combined with regular points. We booked Oct's trip with mostly developer points and then added in 45 of our SSR points to make up the difference.

AKV $8/pp incentive ~ you do have to put 10% down. Even for new purchases. It just so happens that the $8/pp * 100pts + $500 more than equals 10% down. The incentive works directly in DVC's favor. Example w/ 100pts:

old incentive:
$8 OFF per point = $96/pp - 10% down payment = 8640 financed

new incentive:
$8 down payment assistance per point = $104/pp - $800 down payment assistance - $500 customer down payment = 9100 financed


HTH!

Hmmm, then I dont understand why they wouldn't let me use transfered points (SSR points from a friend) with my developer points. I understand the AKV points, that kind of makes sense, buy why not the transfer? I'll just drop it since I'm happy with my reservation anyway.

 

[heaven2dc]

I may be overstepping my boundaries here since I don't own DVC yet but what my DVC senior sales lady told me was I do not have to put 10% down. First of all, I'm looking at 200 points at AKL as a first time buyer. With the incentive they are offering for new owners, I would receive a $500 Visa Gift card (that cannot be used towards the down payment, I would receive it in the mail to use with as I please), offering to buy in at $96/point with the incentive of $8.00/point off the purchase price plus receive 200 developer points at SSR. If I wanted to use the developer points for a vacation let's say September 1-5, 2009, I would have to call to make the reservation on February 9, 2009. Also if I didn't have enough points for that vacation, I could borrow from my AKL but she didn't say anything about having to wait til after May 1st. She said pending credit approval, my downpayment would be $500 payable with a credit card. If I wasn't approved with that downpayment, then they would possibly require more (possibly $1,000) but that still isn't 10% down. She said there were 3 categories I could fall in as far as approval, the worst case scenerio would be coming up with the additional $1,000.

Now keep in mind, I'm a new buyer, have never previously owned DVC and am inserting my 2-cents worth as a newbie. Any corrections or comments would be appreciated!

 

[edk35]

I may be overstepping my boundaries here since I don't own DVC yet but what my DVC senior sales lady told me was I do not have to put 10% down. First of all, I'm looking at 200 points at AKL as a first time buyer. With the incentive they are offering for new owners, I would receive a $500 Visa Gift card (that cannot be used towards the down payment, I would receive it in the mail to use with as I please), offering to buy in at $96/point with the incentive of $8.00/point off the purchase price plus receive 200 developer points at SSR. If I wanted to use the developer points for a vacation let's say September 1-5, 2009, I would have to call to make the reservation on February 9, 2009. Also if I didn't have enough points for that vacation, I could borrow from my AKL but she didn't say anything about having to wait til after May 1st. She said pending credit approval, my downpayment would be $500 payable with a credit card. If I wasn't approved with that downpayment, then they would possibly require more (possibly $1,000) but that still isn't 10% down. She said there were 3 categories I could fall in as far as approval, the worst case scenerio would be coming up with the additional $1,000.

Now keep in mind, I'm a new buyer, have never previously owned DVC and am inserting my 2-cents worth as a newbie. Any corrections or comments would be appreciated!

Are you sure you don't get more for your Visa card??? I thought if you added on 200 you get more on the Visa too???

 

[ITGirl50]

(BTW, our guide said that Kidani is considered our home resort and that it is actually separate from Jamba House, meaning we can book 11 monts out for Kidani, but only 7 for Jamba.)

Your guide is wrong about this. We own at AKV Jambo and we booked at 11 months for Kidani. Also, if this was the case, you couldn't book 11 months for concierge or value rooms, which means you are losing out on a major perk of owning AKV.

 

[JerJan]

My wonderful DF called me at work today and said he added on 100 points for us at AKL. So Excited!!!

Not trying to "HI-JACK" the thread....just wanted to say we are in "STOW, OHIO" too.....small world!

 

[twinklebug]

I may be overstepping my boundaries here since I don't own DVC yet but what my DVC senior sales lady told me was I do not have to put 10% down. First of all, I'm looking at 200 points at AKL as a first time buyer. With the incentive they are offering for new owners, I would receive a $500 Visa Gift card (that cannot be used towards the down payment, I would receive it in the mail to use with as I please), offering to buy in at $96/point with the incentive of $8.00/point off the purchase price plus receive 200 developer points at SSR. If I wanted to use the developer points for a vacation let's say September 1-5, 2009, I would have to call to make the reservation on February 9, 2009. Also if I didn't have enough points for that vacation, I could borrow from my AKL but she didn't say anything about having to wait til after May 1st. She said pending credit approval, my downpayment would be $500 payable with a credit card. If I wasn't approved with that downpayment, then they would possibly require more (possibly $1,000) but that still isn't 10% down. She said there were 3 categories I could fall in as far as approval, the worst case scenerio would be coming up with the additional $1,000.

Now keep in mind, I'm a new buyer, have never previously owned DVC and am inserting my 2-cents worth as a newbie. Any corrections or comments would be appreciated!

I can understand the $500 down payment for 10% down financing (the actual amt you're required is actually less than this at $480, but their rules state that $500 is the minimum they'll take), but at the 20% down rate I'm coming up with $2560 after the incentive is taken into account.

I'll have to call my guide again and ask him what's up.

 

[pickles]

I am mousehouse on the "other" forums. I can give you the details if you have not so good credit.

160pts

The current offer is the $8. pt incentive(which disney can apply towards your down)
$500 visa card
matching dev points

you pay $500 down UNLESS you are a credit idiot like me, then they decide what amount you need to put down..in my case 30%, but the disney incentive goes towards that amount down

the 100 pt deal is an either or situation you can accept the $500 visa or dev points (least that is what my guide said) others are saying if you were referred by a member you may get both deals..not sure I think that is true

For those with less than great credit, please be warned Disney will PRETEND from the word go, that the $500 down offer is the one you are getting, they will ask for your ssn, do a quick check, and tell you everything is great, here is your interest rate etc... then a week or 2 later you will get the BTW you owe this much more down. They did this to me, after booking 2 trips for me, and giving me access to the member site

Oh and the SSR dev points, must be used by a year later from your contract start date(not your UY start date), they can only be used at SSR or the passport etc.. collection. you can NOT use ANY of your AKV points before May 1st, so if you use your dev points and need a couple extra and book before May I know you better change your vacationing plans or find points from elsewhere.

In light of all this, and looking at the resale boards, there are many contracts out there with points available by May 09, some even full contracts at a much cheaper rate $85 pt average I would say. If you are a credit idiot like me, and they are going to require a high down, then you are better off using that money(assuming you have it) and buying a small resale outright

Now, it is my understanding that once you become a member(and you are a credit idiot), you can get the add ons, financed without the big down or even wiser , just buy resale as you have the extra cash and save the 10-14% finance charge


Hope that helps thye other credit challenged folks

 

[delmar411]

I may be overstepping my boundaries here since I don't own DVC yet but what my DVC senior sales lady told me was I do not have to put 10% down. First of all, I'm looking at 200 points at AKL as a first time buyer. With the incentive they are offering for new owners, I would receive a $500 Visa Gift card (that cannot be used towards the down payment, I would receive it in the mail to use with as I please), offering to buy in at $96/point with the incentive of $8.00/point off the purchase price plus receive 200 developer points at SSR. If I wanted to use the developer points for a vacation let's say September 1-5, 2009, I would have to call to make the reservation on February 9, 2009. Also if I didn't have enough points for that vacation, I could borrow from my AKL but she didn't say anything about having to wait til after May 1st. She said pending credit approval, my downpayment would be $500 payable with a credit card. If I wasn't approved with that downpayment, then they would possibly require more (possibly $1,000) but that still isn't 10% down. She said there were 3 categories I could fall in as far as approval, the worst case scenerio would be coming up with the additional $1,000.

Now keep in mind, I'm a new buyer, have never previously owned DVC and am inserting my 2-cents worth as a newbie. Any corrections or comments would be appreciated!

You aren't over stepping your bounds at all! The guides find a specific way of describing things to buyers that works for them. The least confusing way for the most part. But that isn't exactly the most correct or honest way. In your paperwork there should be a paper showing where you are signing over a GC in the amount of $1600 to use as a down payment. Did you see/sign that paper?
If you are getting the GC, that you sign right back over, then you are not paying $96/pp. You are paying $104/pp. Because here's the math:

$96/pp *200 = 19200
- 10% down (which you'd be covering yourself w/ the original $8 off per point)
= 17280

$104/pp *200 = 20800
-$500 deposit
- $1600 GC (aka down payment assistance or $8 'off' pp)
= 18700

The new promo has ppl financing a larger amount with DVC. It makes them more money. It also allows more ppl to 'afford' DVC, or at least the down payment. Since the credit check is mostly just a formality, unless someone is carrying a huge amount of debt, DVC either approves them based on the 10% down or the asks for more of a down payment.

And I think she didn't mention the May 1st limitation on the AKV points because you all were talking about a sept vacation. Once May 1st hits you can use those points so any ressie for a vacation after May 1st would be fine with them. Those points pretty much don't exist until May 1st. That doesn't mean you can't make ressies with them for dates after May 1st, but it does mean that you can't make ressies with them for dates prior to May1st.

I am a bit concerned that she is pushing off that you might have to come up with *only* an additional 1k. DVC down payments are pretty much set to be 10% or 30%.`


The numbers she is quoting you don't add up properly.

104 *200pts = 20800
10% = 2080
- $1600 for $8/pp
- $500 your DP
= 2100 total down payment

104 *200pts = 20800
30% = 6240
- $1600 for $8/pp
- $500 your DP
- $4140 ADDITIONAL to put down

even factoring in a 20% DP, doesn't work with the numbers she is giving you. Do you have your paperwork all signed and done? There should be papers in there detailing down payments and total costs.

 

[twinklebug]

Pickles, you gave me my first good chuckle in a long time by laughing at yourself... I have been that credit idiot you mention over and over again. Trust me, once you clear that up you never want to look back

For the record, I was told that the down payments are tiered, 10%, 20% and 30% down. That said, I've never heard of anyone getting the 20% down. And yes, I agree the sales people will ~assume~ you're getting the 10% down and make everything look so great - get your hopes up so that when they come back and ask for that 30% you feel you have to have DVC & must produce the funds. There are other ways.

I know, Taking your time and building the savings is the best way, but it takes patience. I've been hard at work on it for 3 years, and every time I've gotten *this* close, something grabs those funds away (read: family )

 

[heaven2dc]

Thanks, everyone, for all your input! I haven't signed anything yet - from the impression she gave me, I would have to give her a cc over the phone for the initial $500 down before she would do anything for me. Could I be wrong on this?

I left her a message yesterday to call me last night but never heard from her. Maybe I should just go ahead and tell her to start the process and see what goes from there. With my credit in the bonkers and now that I don't have the initial $500 down payment to give right now (I have to wait til October 1st to recover from financial hardship), I don't think she will even start the process. Don't you have to give her the downpayment over the phone with a credit card as soon as she processes your application?

 

[pickles]

yes to go forward you would need to pay the $500 down and potentially the closing costs like $300 something(tho they do offer to finance that in)