The Timeshare Store ??'s

[DisnyMik]

We are not DVC members but have considered it. DH doesn't think it is a smart idea even though we do Disney just about yearly. He is very skeptical about it. We have friends who are members and they love it.

My question is, has anyone had a successful transaction w/the Timeshare Store for their first time buying points, i.e., not an "add on"? It does seem to be more reasonable then purchasing from DVC itself. When we were there 2 weeks ago we asked about the new Saratoga Springs and it was $89.00 a point!

Thanks!

 

[JimC]

We purchased our OKW contract there. Pat Spell handled the transaction. She was very helpful and professional. We would use her again.

SSR is $89 per point, but you can buy now for $10 less and you are buying a contract that expires 1/31/2052. All other DVC resorts expire 1/31/42.

The maintenance fees have gone up at a compound rate of 2.8% per year at OKW since 1991. Moderate resort rates have gone up about 5.5% during the same time, DVC points at about 4.6% and the CPI by about 2.6% per year.

When we were making the decision in 2002, I forecast the cash flows (cost and fees) for studios and one bedrooms and compared that to moderate Disney Club discounted and deluxe Annual Pass discounted rooms. I purposefully skewed the analysis by using 120% of the average increase in maintenance fees and 85% of the average increase in resort rates. We will break even in ten years.

Based on my reading Disney is working to reign in the availability of room only discount codes. There is an excellent article on that topic in the August newsletter for Mousesavers (www.mousesavers.com). That view has been supported by many others and has been my experience recently as well. If that is the case, then comparisons of rack rates or rack rates with minimal discounts might be a better analysis. That only improves the DVC as a prepaid vacation.

Our conclusion, we should have done this 10 years ago, but could not afford it then. It is a great way to vacation at WDW. The resorts are first rate. You stay in larger units, with more amenities than even the deluxe resorts and pay about the same or less than a moderate.

Good luck with your decision.

 

[Richyams]

I certainly wouldn't pay $89 per point for SSR when OKW is available through resale near $70.

 

[trogan]

We purchased 200 points for the Wilderness Lodge through the Timeshare Store a little over a year ago with no problems at all. We did everything by mail and phone. From start to closing took about 2 months. The money you save buying a resale can be substantial and some of your costs are negotiable. We were unaware of this at the time and we closed in Sept. 2002 and ended up paying back to the seller all of 2002's annual dues. We know now that we should have prorated them, considering 2002 was almost over. The transaction is much the same as if it were thru Disney; when you close you recieve the same paperwork you would from them. Our agents name was Jerry Sydow, he was extremely helpful. Hope we put your DH's mind at ease.

 

[JimC]

Rich at $70, assuming no bank or borrowed points, all current year points available and no closing costs the OKW contract costs $1.79 per point over remaining term.

The same SSR contract at $89 is $1.78 per point over its remaining term. With the current $10 credit for pre-opening purchase it comes down to $1.58. Now I suspect that the difference in maintenance fees may just tilt this back to OKW's favor. But I have not heard what the opening maintenance fees are at SSR. So for now let's say it will make the ecnomic difference immaterial.

That said, I would still pick OKW because I like its layout, unit size, point charts and Olivia's. SSR's pool and spa do not compensate for that in my opinion. And the extra time is, for me, meaningless as I will probably not be able to benefit from it.

 

[robinb]

I used the Timeshare Store for both of my DVC purchases. The first was 230 points at OKW in 1997 (before it was "The Timeshare Store" )and the second was 200 points at BWV 5 years later in 2002. We had a great transaction both times. I would also recommend Jaqi at A Timeshare Broker (http://www.atimeshare.com/cgi-local/listd.cgi?disy). She couldn't find anything for us, but many people have had good luck with her. I would avoid Reid (http://reid4florida.com/disney_hot_buys.htm) as he is not a touchy-feely, hand holding kind of guy. You might be able to get a good bargain with him, but you'll do a lot of extra work.

I have a couple of questions for you: (1) Where do you stay when you go to WDW? (2) How long do you stay? (3) Do you go at least every other year? (4) How many people in your family?

 

[ArnyVee]

I spoke with Pat before and she was great, but didn't have what I needed available at the time. Jaki was also very proactive in looking for contracts for me as well. But, the person that got me what I needed and contacted me right away was Shontell at www.DVCByResale.com

Everything went smoothly (except for that dreaded long wait for the ROFR) with the transaction and we are now proud owners of a resale at OKW!

 

[DisnyMik]

Okay, the answers to your questions:

We usually stay on WDW property. We have stayed at so many it would probably be easier to name the one's we haven't stayed at.
We stay usually at least a week. We have been known to resort hop just to experience another resort.
We have been going every year (sometimes twice) for about 18 years except for maybe a few years.
We have 3 children: 15, 12, & 5. When we stay at ALL STARS we have to get 2 rooms, which is nice. We have only done that when we could get an excellent rate there. Our favorite so far is the AKL and the Yacht Club. We also don't go unless we can get a great deal with codes, etc.

 

[JimC]

With those answers it should make financial and enjoyment sense for you to come home to DVC. Then you can join the proud ranks (excluding Rich) of us who should have done it sooner!