Thinking about joining DVC!

[Seewhatimesdone]

My mom and I love Disney so much we're thinking of joining the DVC. I watched the presentation and have the DVD and everything but I still had a couple questions that I thought I would ask you guys. We can't really afforD 16,000 dollars up front so we were thinking of financing but I need some details on the financing. Also, I could use some suggestions on points - I don't know how many to get! We would probably be taking at least one if not two vacations a year. They wouldn't be any longer than 5 days, most likely 4. I just don't know if we should start off with 200 points, 300 points. And the maitenence fee of 800 dollars a year seems a bit high with the large up front cost. Basically all you are paying for with the DVC is a place to stay right? This doesn't include the tickets, flight, so I don't understand why it costs so much. Also, I keep hearing that contracts end - so you pay 16,000 for a contract that will end?? In how long?!

Also, i'm not sure how resale works. Can I buy a DVC timeshare cheaper from someone else? Thanks, and sorry for all the questions XD

 

[mgroshans]

the contracts are 50 years long. we just bought thru disney, 100 points to AKK. there are 2 types of financing disney offers, standard and preferred. length is 5 yrs or 10 yrs. you can either pay the closing costs up front or roll them into the financing. we paid the $500 downpayment and the closing costs up front. our points were $96 each, so in essence, we financed $9100.
how many points you buy will be based on how long you stay and what type of room you want to stay in.
it does not include tickets or travel, just your room.
you do, however, get a discount on the yearly pass.
i don't know anything about buying from someone else, i am sure someone on here will help you with that.
good luck!

 

[5forDiz]

Contract expiration year varies by resort.

Expiration Years For DVC Resorts at WDW:
Animal Kingdom Villas 2057

Old Key West 2057 on "Extended" Contracts
and 2042 on "Unextended" Contracts

Saratoga Springs Resort & Spa 2054

Beach Club Villas, BoardWalk Villas,
and Villas at Wilderness Lodge 2042

Offsite DVC Resorts:
Vero Beach & Hilton Head Island 2042


At present time if you wish to buy a contract for Animal Kingdom Villas directly from Disney the initial buy in has been lowered to 100 points. There may be some other incentives offered with it but I'm not 100% certain about that, seem to recall mention of a $500 Disney gift card.

This may be a good starting contract ( 100 points ) - that would get you a studio villa in the value category at AKV anywhere from 40 to 55 points for a 5 night Sun. - Thurs. trip depending upon time of year you'd travel
< Christmas/New Year, Easter would be approx 20 points more >.
Of course if you want a larger villa and/or book more nights more points will be needed and also note Friday & Saturday nights are double or more number of points per night compared to Sun. - Thurs. nights.

Maintenance Fees at AKV are presently under $5 per point per year ( search threads for posts on MF's at each resort) MF can be paid in lump sum each year or divided and paid over 12 months.

You can make your first DVC purchase via a resale contract from a resale agency/broker and they may have contracts available for purchase that are less than 100 points too. Many members have made their first DVC purchase this way and often you can save some $ compared to Disney's prices. The Timeshare Store is DIS sponsor & many members here have purchased through them with excellent results, my family and I as well. Their link is above.

Once you buy your first DVC contract either directly through Disney or via resale you can purchase additional add-on contracts from Disney (25 point minimum purchase) or via resale market so if you buy 100 points or less contract to start off you can always in the future add-on additional points should you find you need them.

Members can purchase discounted Annual Pass. Can also get free valet parking, internet access and various dining & shopping discounts.

You will get lots of great insight and information here on the DIS and there will be many members who can tell you much more especially their most recent purchase experiences. Good luck on your planning

 

[brianm27]

I would also recommend the 100 points promo at AKV to start. It is so easy to add on when you need more points. I did a 70 point add on. Called my guide at 9:15 AM, he returned the call at 9:30, and when I checked online at 7:00 PM I had the extra points. So if after a while 100 is not enough, its easy to get more. (do a search for "addonitis")

Also, if you decide you do need a larger number of points up front, I would still consider buying smaller contracts (i.e 3 X 100 or 160+140 etc). That way, if your situation changes you can sell what you don't need and still retain part of your original contract.

 

[stopher1]

I would also recommend the 100 points promo at AKV to start. It is so easy to add on when you need more points. I did a 70 point add on. Called my guide at 9:15 AM, he returned the call at 9:30, and when I checked online at 7:00 PM I had the extra points. So if after a while 100 is not enough, its easy to get more. (do a search for "addonitis")

Also, if you decide you do need a larger number of points up front, I would still consider buying smaller contracts (i.e 3 X 100 or 160+140 etc). That way, if your situation changes you can sell what you don't need and still retain part of your original contract.

The current promo ends Sep. 20th - so if you are seriously considering it, and get your questions answered here on the DIS, you'll need to act quickly. There are no guarantees about when another promo will be issued, however I've seen several in the past, this year included. THe promo is only for AKV, but it's a great resort. Buying in there you would have the 11 month home resort priority there, but could use your points at all of the other resorts at or after the 7 month mark. AKV contracts run through 2057, so 49 years from now. If you use it every single year, that initial upfront cost could be "met" within just a few years (5-7), compared to the Deluxe level accomodations - but you get a lot more in your DVC accomodations. Go to the DVC website http://www.disneyvacationclub.com and you can even take a virtual tour of the units. More questions can be answered there as well.

Good luck in your consideration!

 

[fadedgirl]

Also, the 100 pt buy-in and the 160 pt buy-in with all the incentives reportedly end Sept 20th.

There are some re-sale places that finance, some don't, and I've heard that none of them take credit cards. I've only read this on the boards, though, I haven't looked into purchasing re-sale personally. I'd check into this ASAP on Monday with the DVC re-sellers, as if you want to finance, buying through Disney might be the best for you.

 

[Donald is #1]

Also, i'm not sure how resale works. Can I buy a DVC timeshare cheaper from someone else? Thanks, and sorry for all the questions XD

Yes, you can. However, you need to pay attention to whether the contract is "stripped" or not. Stripped means that the current years and maybe next years points have already been used. Also, closing costs are higher with resale contracts.

Here is a link to the Resale/ROFR thread http://www.disboards.com/showthread.php?t=1710667

Go to the end of the thread and you will see my latest post of resale data that has been reported by members of the DISboards.

You will see the term ROFR "Right Of First Refusal". This means that Disney gets first choice on any resale contract. How it works is that you reach an agreement with the seller for a price per point, who is paying closing, and who is paying maintaince fees (mf) for the year. Then the contract is sent to Disney with all of these details. Disney then decides within about 30 days whether they want to purchase the contract instead. If they do, then they exercise ROFR and pay the seller whatever deal you agreed to. If they decide not to exercise ROFR, then you buy the contract.

In the thread, you will see 3 sections: passed, ROFR'D, and waiting. Passed are the contracts that Disney has decided not to exercise ROFR on and the buyer buys the contract. ROFR'D are the contracts that Disney decided to exercise ROFR, i.e. Disney bought the contract. Waiting are the contracts that have been agreed to and are at Disney waiting to see if Disney exercises ROFR.

 

[anbouk]

We met with DVC last week when we were at WDW. The DVC person we met stated that we can purchase 160 minimum points to start. Why is everyone here stating you can start with purchasing 100 pts? This was definitely not true as I questioned her when we were there and she definitely said 160 minimum. Again, this is for a NEW DVC not add-on. Can anyone verify this? TIA!!!

Soon to be DVC

 

[5forDiz]

It's 100 point minimum buy in at AKV for first time buyers at this present time. It is expected this promo will end on September 20 although it is possible it may be available beyond that.

Can't answer as to why guide told you minimum is 160 .

 

[fadedgirl]

We met with DVC last week when we were at WDW. The DVC person we met stated that we can purchase 160 minimum points to start. Why is everyone here stating you can start with purchasing 100 pts? This was definitely not true as I questioned her when we were there and she definitely said 160 minimum. Again, this is for a NEW DVC not add-on. Can anyone verify this? TIA!!!

Soon to be DVC

We had the same thing happen to us, then after coming home and reading the boards, we called the guide 3 times mentioning the 100 pt buy-in only to be told NO WAY could we do it. We finally stated that we simply wouldn't buy (we are new to DVC as well) unless we were allowed to buy only 100, the guide acquiesced (put us on hold for two seconds and pretended to ask someone) and then miraculously we could buy only 100 points.

Seems like most people have great guides. Ours needs to be fired...this wasn't the only dishonest and unethical thing that transpired. But perhaps for some reason your guide simply wasn't aware? Doubtful, and no excuse, but I'm trying to give the benefit of the doubt here.

You might consider calling the QA line Monday, if you would like to switch to only a 100 pt contract. Explain what happened and get what you want. You may also get a new guide if you prefer.

The kicker with us is we ended up changing our minds later and getting 160 pts anyhow. Woo hoooo!

 

[mom of princessx2]

We did the same as you about 18 months ago, kept looking at DVD knowing we shouldn't spend $16000+. (at the time you could only buy 160 pts) Also we were not sure we wanted 160 pts to start so a couple months ago I started looking into resale for about 100 pts. Well, found a listing for 150 pts at SSR at $73 and have started the process. Yes, I have to pay $450 in closing and yes, it is still at Disney waiting for ROFR (was just submitted 9/11/08 but if all works out we will have more points then we thought for the price we were willing to spend. I think if you love Disney you can't go wrong either way you decide to purchase!!

 

[WALTSAGOD]

There is a LOT of GREAT info on this board!

 

[stopher1]

It's 100 point minimum buy in at AKV for first time buyers at this present time. It is expected this promo will end on September 20 although it is possible it may be available beyond that.

Can't answer as to why guide told you minimum is 160 .

Wasn't that 100 point buy in "officially" only being offered at Doorway to Dreams? It's nice to see from some of the other posters that they got the 100 pts regardless since that's what they wanted.

 

[Seewhatimesdone]

Thanks for all the reply's! I really can't decide whether to do their current promotion (AKV look AMAZING!) or to do resale for cheaper. You can always extend a contract right?

Also, i'm allowed to stay at other resorts with my points right?

 

[5forDiz]

You can't extend the expiration date of a contract except at OKW: if you purchase an OKW contract with original 2042 expiration it can be extended to 2057 for an additional $20 per point ( if you buy the contract unextended on the resale market ). However, if you buy OKW directly through Disney your purchase price includes the extension to 2057.

If by " extending " you mean adding more points to your initial purchase the answer is yes : that would be an add-on by purchasing either additional points through Disney or purchasing an additional contract via resale market.

Your Home Resort give you a booking ' priority ' so to speak for a reservation at your Home Resort : at 11 months before your desired check-in date for a reservation at your Home Resort you would be able to call to make that reservation. At all other DVC resorts that are not your home resort you would have to wait until 7 months before your desired check-in date before you could use your points to book there.

 

[stopher1]

You can't extend the expiration date of a contract except at OKW: if you purchase an OKW contract with original 2042 expiration it can be extended to 2057 for an additional $20 per point ( if you buy the contract unextended on the resale market ). However, if you buy OKW directly through Disney your purchase price includes the extension to 2057.

If by " extending " you mean adding more points to your initial purchase the answer is yes : that would be an add-on by purchasing either additional points through Disney or purchasing an additional contract via resale market.

Your Home Resort give you a booking ' priority ' so to speak for a reservation at your Home Resort : at 11 months before your desired check-in date for a reservation at your Home Resort you would be able to call to make that reservation. At all other DVC resorts that are not your home resort you would have to wait until 7 months before your desired check-in date before you could use your points to book there.

Exactly - so far Old Key West is the only DVC property that DVC has given the opportunity to members to extend their contract. With the exception of Saratoga Springs and Animal Kingdom, each of the other properties contracts expire in 2042. While there has been speculation by some on these boards that DVC "could" in fact extend the other resorts contracts similar to what they did with OKW - that has not transpired.

You can use your points at the other DVC resorts as detailed, and you have the option to use your points at Disney branded hotel properties around the world (DL in CA, Tokyo, Hong Kong & Paris), plus like other timeshares, you can use your points at a variety of locations around the world via the relationship with Interval International - there are some 500+ locations you could use your points at if you really wanted to. There are restrictions of course, and a transfer fee of $95 per ressie, but it is always an option. There are no ressie fees when you book a DVC resort.

Also DVC is currently building the very first DVC location in CA by adding DVC Villa accommodations at the Grand Californian Hotel at the Disneyland Resort. These villas are slated to open in late 2009 - and you will be able to use your points there just like any other DVC resort if you were to choose to take a trip to DL. With this new resort and the construction at the Contemporary adding villas there, plus they have formally announced the construction of a DVC resort in Hawaii for a 2010/11 opening...so the DVC collection and your options continue to grow.