Timeshares 101

[jenny2]

Could someone point me to a good site that has basic timeshare information? I'm curious about the "trading" to different hotels you all talk about. I'm not currently a DVC owner... but will be if I can twist DHs arm hard enough, lol! Some of you talk about owning DVC to use just at Disney, but also own another timeshare to trade with.

 

[bwvBound]

Curl up with a tall cup of coffee ... and enjoy reading the TUG Advice articles!

TUG=Timeshare Users Group

 

[Cruelladeville]

We aren't trading to other hotels, we are trading to other timeshares, which you can buy relatively cheaply thru resale. None of those is as nice as DVC, though, which is why most of us use DVC for ourselves, and don't usually trade it. Be aware that many timeshares--not DVC--can end up being a money pit. Once you buy you will need to continue shelling out your cash--$79 to join Interval, $79 every time you trade to a different resort, etc. The TUG info doesn't emphasize this aspect of owning a timeshare, but can be quite a shock if you are used to DVC, which doesn't charge for many services.

 

[bwvBound]

Originally posted by Cruelladeville
We aren't trading to other hotels, we are trading to other timeshares, which you can buy relatively cheaply thru resale. None of those is as nice as DVC, though, which is why most of us use DVC for ourselves, and don't usually trade it.

Hmmm ... while no other timeshare can match DVC's strong location advantage, there are plenty matching its overall quality, flexibility, etc. I think that the overall cost justifications become a factor against trading DVC. When a DVC member wants to travel outside the DVC resorts ... there are usually less expensive options available than to trade out DVC points.

Be aware that many timeshares--not DVC--can end up being a money pit.

"Not DVC" - are you sure? Worldmark caps their annual Maint Fee increases to 5% each year while DVC's cap is 15%. It would seem to me that DVC already charges higher annual dues (compared to similar properties) and carries a greater level of potential exposure.

Once you buy you will need to continue shelling out your cash--$79 to join Interval, $79 every time you trade to a different resort, etc. The TUG info doesn't emphasize this aspect of owning a timeshare, but can be quite a shock if you are used to DVC, which doesn't charge for many services.

True, exchanging comes with costs. Disney tends to hide these from the DVC member but also limits the potential gains from direct access to an Exchange Company.

Through direct RCI and II memberships, I've been able to secure several "bonus vacations" ranging $149-$329/week. I also consider that most of my exchanges have been "trade-ups" of sorts after evaluating the various costs related to purchase, annual dues, and exchange fees.

Perhaps we might agree that different timeshare products offer different advantages to each buyer.

 

[jenny2]

Great! Thanks for the link. Right now it's all confusing, but I'll return when I understand how it all works

 

[RLAlden]

bmvBound - you may be correct in saying that certain time share programs may have components that appeal more to some owners than DVC, but to me, it's very clear that DVC is far superior to its competition.

Here are some of the reasons:

Sales Pitch - We've attended several time share presentations (Marriott, Fairfield, Embassy, ...). The only time share presentation that we ever attended that we were not forced to meet with multiple people just to say no, was Disney. Now granted, we bought from Disney, but I've never seen or heard anyone say they received the sleazy pressure filled pitches that the others do routinely.

Property Quality - The DVC properties are consistently superior to most of the competition...and you can always trade to get the competition's best locations. Yes, there are some beautiful resorts out there, but each of DVC's are top of the line. As an example, we just stayed at (paid cash) a resort that was supposed to be the best time share in Myrtle Beach. Although you could not beat the view, when it came to all other amenities, it did not come close to any of the DVC Resorts we've stayed at.

Honesty / Integrity - Disney has some. We actually purchased from another time share in Orlando and cancelled within the allotted time, due to finding out that many of the things we were told were inacurrate. Turned out to be the best thing for us though, because when I mentioned it to a friend, he suggested DVC.

Sellable - I have several friends / co-workers who have been trying to sell their non-DVC Time Share ownership for some time, and are willing it do it at considerably less than they paid. None of the DVC Owners that I know want to sell their ownership. Obviously there are situations that drive that, which is why the Time Share Store becomes a great vehicle. Most of those selling their DVC are selling them quickly and for a profit.

Flexability - I'll admit that the use year, borrowing, banking, 7-month window, 11-month window, ... can all be a little confusing to the first time owner and even some of the veteran owners, but the ability to use your points however you like and whenever you like is the biggest selling point to me. We have currently booked short trips to Hilton Head in August, and Disney in Oct, Nov & Dec all using our points, and we still have some left for some trips in the spring. That flexability exists with a few of the competitors, but for most, you're out of luck.

Cost - DVC should be the highest, because it is the BEST.

So, in our humble opinions, when you look at all the factors, DVC consistently ranks among the best few, if not the best in every case.

 

[laceemouse]

DVC is definitely the best for going to WDW, but some of us do enjoy going to other place. We have a small number of DVC points and go to Disney every year or 2. We also own another T/S which we trade through RCI for 1 or 2 trips a year. We don't just want the hotsy/totsy locations, we have recently enjoyed Branson, the Smoky Mountains, and Williamsburg, Va. (where we own.) We are currently planning a trip to Hershey, Pa. We enjoy ALL of our T/S excursions. We have 4 kids so for us a 2 bedroom unit with kitchen, washer/dryer, several t.v.s, 2 bathrooms, etc. is a must for us. When we compare it to 2 hotel rooms, with possibly NO kitchen, the T/S thing is way worth it. DVC is great, but not so great to trade to other locations. We feel we have the best of both worlds. BTW, DH earns Marriot points with his work travel, so when we do stay someplace else, on the road or for quick get-away, it is almost always covered by those points!!!