Thinking about buying disney timeshare

[disneygal2007]

Hello. I have been thinking for the past 2 years maybe i'd will buy disney points we would be able to go more. we only live 13 hours drive from home is what we call home lol but my question is we are a military family that doesn't make allot of money but my husband is going to Kuwait and we will have a little extra cash coming plus I am opening up a daycare making 4 to 5 hundred a week. With taxes coming up I was thinking about buying points. What is a good resort for not allot of money and what do u all pay a month. We always spend all our taxes anyway with going to DW but this is kinda different. What do u think I should do. Thanks ahead of time. Sonya

 

[Cinderella]

Wow - only 13 hour drive. You Americans drive a lot. It is 8.5 to 9 hour flight for us and that is a long way.

When you say you always spend your taxes at Disney anyway, do you mean the taxes the taxman gives you, or the taxes you're supposed to give him?

If it is the former it may be worth considering, but if it is the latter I would definitely say no - unless your tax people are more understanding than the rottweillers in the UK.

 

[AKV707]

If you are looking for a small amount of points, you can check ot the Timeshare Store, the sponsor of this board. There are resale listings on their site. You will find lower per point prices there.

If buying directly from DVC, there is a 160 pt minimum buy in. Current cost per point range from the mid 90s to $104. There are some incentives.

Disney does offer financing from 1 to 1 years. There are also annual dues which vary from resort to resort.

Hope that helps!

 

[disneygal2007]

Wow - only 13 hour drive. You Americans drive a lot. It is 8.5 to 9 hour flight for us and that is a long way.

When you say you always spend your taxes at Disney anyway, do you mean the taxes the taxman gives you, or the taxes you're supposed to give him?

If it is the former it may be worth considering, but if it is the latter I would definitely say no - unless your tax people are more understanding than the rottweillers in the UK.

It's the the money we get back after we file. It's usually a good amount. We love to drive to DW since sept 11 I don't fly. Plus we get to use our car. We like to leave the parks at times to go do other things away from the parks.

 

[disneygal2007]

If you are looking for a small amount of points, you can check ot the Timeshare Store, the sponsor of this board. There are resale listings on their site. You will find lower per point prices there.

If buying directly from DVC, there is a 160 pt minimum buy in. Current cost per point range from the mid 90s to $104. There are some incentives.

Disney does offer financing from 1 to 1 years. There are also annual dues which vary from resort to resort.

Hope that helps!

Ok I think I see. I can buy someone else points and not have to put the huge down payment down?

 

[chalee94]

resales (other people's contracts) will still cost at least $80something per point after taking closing costs into account. you do have the option of buying a smaller contract if you don't need to start with 160 pts (this will limit you in terms of being able to trade out, though.)

OKW is a good value option - low initial point cost for 34-ish year resale contracts, low maint fees and low point cost per room - but you should carefully look at all the resorts and will generally be told to buy where you want to stay.

i started with a tiny 40 pt OKW resale contract for less than $4000 and pay less than $15 a month in maint fees. but i can only stay in an OKW studio for 5 nights from sun-thurs (no weekends) during cheaper seasons each year...so there are some serious tradeoffs unless/until i add-on more points.

PLEASE take time in these forums to research DVC and see if it's really a good idea for you. it can be a very expensive impulse purchase. (and shades of green may be a cheaper option for some military families.)

 

[chalee94]

Ok I think I see. I can buy someone else points and not have to put the huge down payment down?

you can also rent points (technically, you are renting a reservation) at $10-12 a point, and not have to put a large downpayment down.

make sure to read the rental point primer before venturing over to the rent/trade board:

http://www.disboards.com/showthread.php?t=1255828

 

[crisi]

If money is tight, DVC is not a good purchase. There are cheaper ways to stay at WDW. DVC gets you a room - a nice room. But a value resort will be cheaper and offsite cheaper yet. You will pay $4-5 a point for dues - and those dues can (and generally do) increase yearly. Plus you are making a committment - it a bad year you will still need to pay dues, but you may not be able to afford the gas/park tickets/ food, etc. involved in a Disney vacation.

 

[Cinderella]

Sonya - I wish I lived over there - the tax man gives you money back and the gas is cheap. Do heaps of research on these forums before you commit to anything. Some years DVC has worked well for us and some years we wished we didn't have it.

And as the others have said you can also rent points. That way, you get to try out DVC without the upfront costs first and see if it's for you.

 

[Maistre Gracey]

Sonya - I wish I lived over there - the tax man gives you money back

Please don't misunderstand... The tax man "gives" nothing back to anyone. Sometime we get a refund of our money, only if they over collected in the first place.

MG

 

[chalee94]

Sonya - I wish I lived over there - the tax man gives you money back...

off topic: many americans love paying taxes so much that they CHOOSE to cheerfully OVERPAY the government each year. after the government has enjoyed the use of their money, uncle sam typically pays back the excess amount - without paying any interest - in the middle of the next year and we call it a "refund."

the u.s. government does offer the option of filling out a simple, one-page form if you prefer to give them less money in taxes each year - and instead give them only what you would actually owe while putting that excess money in an interest-bearing account to make a little extra money for yourself - but a lot of americans don't trust themselves to save the money and would rather let the government hold it for a while instead.

it frustrates people trained in finance and accounting (like me) but it is true that this behavior is fairly common...

 

[disneygal2007]

If money is tight, DVC is not a good purchase. There are cheaper ways to stay at WDW. DVC gets you a room - a nice room. But a value resort will be cheaper and offsite cheaper yet. You will pay $4-5 a point for dues - and those dues can (and generally do) increase yearly. Plus you are making a committment - it a bad year you will still need to pay dues, but you may not be able to afford the gas/park tickets/ food, etc. involved in a Disney vacation.

I have decided against it right now. I called today to get a quote and they wanted 12 thousand down. I don't wanna wipe out our savings to go to Disney world a few times a year. Plus we are military and there is no telling when the military will ship us to next. We will stick to going tax season like we have in the past that way my kids will have something to look forward 2. thanks for all the advise.

 

[Maistre Gracey]

I have decided against it right now. I called today to get a quote and they wanted 12 thousand down.

I don't blame you for choosing not to purchase at this point, but out of curiosity... A $12k deposit?? For how many points? Who did you call?

I hope I'm not being nosey.

MG

 

[disneygal2007]

I don't blame you for choosing not to purchase at this point, but out of curiosity... A $12k deposit?? For how many points? Who did you call?

I hope I'm not being nosey.

MG

Not at all. It was The DVC resale. He says we can go with their bank but I don't want to take out a loan. We don't make allot of money were comfortable I just thought it would be a nice thing for my family. I don't want it to break us. We have never had to deal with bill problems and I don't want it to start now for Disney DVC

 

[Maistre Gracey]

Not at all. It was The DVC resale. He says we can go with their bank but I don't want to take out a loan. We don't make allot of money were comfortable I just thought it would be a nice thing for my family. I don't want it to break us. We have never had to deal with bill problems and I don't want it to start now for Disney DVC

Gotcha...
One more thing.. I would like to thank you and your husband for your service to our country.
Sometime we take this lifestyle for granted, but we must always remember it's only possible because of families like yours.

MG

 

[disneygal2007]

Gotcha...
One more thing.. I would like to thank you and your husband for your service to our country.
Sometime we take this lifestyle for granted, but we must always remember it's only possible because of families like yours.

MG

I love being a military spouse it does get hard cause he is leaving for 15 months
But it is the thank yous we get that put it all into perspective. I am so proud of our troops.