Torn in our decision dvc or no DVc

[nursingsteph]

DH and i have pretty much decided to go wiht DVC we would be buying into OKW at 90/pt payment being 240 a month. we at first thought this is great but now we are second guessing our selves. We just got back from disney in march and had a wonderful time and said we definately want to take our 1 yr old DS every year. Is this a good investment or will i be kicking my self if i wait another year. I feel pressured because they are offering us last years points with this years points. THank in adnvace for your input. we are torn also because when we went it didnt seem like a lot but we also did the the 4 nights 3 free.

 

[ACDSNY]

Take your time and do your research on DVC, there's plenty of info on these boards to help you make the right decision for your family. Is OKW your favorite resort? Have you looked into the resale market?

 

[nolanboys]

We waffled for 3 years before taking the plunge. Take the time to do your research and don't feel pressured by Disney. They offer deals frequently. We just bought in a month ago with a 200 pt contract at SSR. We used **********.com and our contract had last years points as well and at a considerably lower price. We waited until we had gone 3 times in 4 years and then made the plunge. Take your time - there is no rush! Maybe save up and buy a smaller contract so you don't have to finance. Just a suggestion - I hate to see $ spent on interest! Good Luck!!

 

[nursingsteph]

we have never been to OKW this one they say is the lowest amount of $$ right now. we dont really know much about any of this. what am i looking for as far as resale value. I feel like this is more difficult then buying a house. will i be able to cancel? we havent signed anything yet. she just took credit card info for down payment.. Thanks again.

 

[ACDSNY]

Yes you have cancellation period, off the top I think it's ten days. If you don't feel comfortable I would cancel and then start the process later when you know what you really want.

 

[ValpoCory]

We waffled for 3 years before taking the plunge. Take the time to do your research and don't feel pressured by Disney. They offer deals frequently. We just bought in a month ago with a 200 pt contract at SSR. We used **********.com and our contract had last years points as well and at a considerably lower price. We waited until we had gone 3 times in 4 years and then made the plunge. Take your time - there is no rush! Maybe save up and buy a smaller contract so you don't have to finance. Just a suggestion - I hate to see $ spent on interest! Good Luck!!

That's great advice.

Don't go into credit card debt with this, when in the short term while you save you can rent DVC points at cheap prices.

Most on this board will be pro-DVC, so I'd seek advice from other sources too. But don't be scared off by Financial Advisers, who just say "It's a Timeshare ... Stay Away", and don't consider anything else.

The more info you have, the better.

 

[disneynutz]

You need to do a lot of research before you jump in. Taking the time to visit and stay at the DVC Resorts is really worth it in the long run.

You will read many posts from people who bought site unseen or who bought at one resort because it was a deal or because Disney was pushing that resort.

Later they find out that they like a different resort better. They either go through the headache of selling and buying the right resort, or they try to book there if there is availability at 7 months.

Disney will continue to change the rules and do things that make getting a reservation at a non-home resort more challenging. Their 50 point buy in is a good example.

Do yourself a favor and buy where you love to stay.

Bill

 

[nursingsteph]

thanks everyone i think we are gonna cancel and im sure im gonna kick my self because we are gonna lose on last years points if we decide to book in the future. this really sucks. my husband says he will make it happen if it is what we want but i dont want to stress every month especially ttc child number 2 in the mix. Do you think that if next time we go to disney they will give us the same deal if we make that a condition for signning up?

 

[Hopefully]

thanks everyone i think we are gonna cancel and im sure im gonna kick my self because we are gonna lose on last years points if we decide to book in the future. this really sucks. my husband says he will make it happen if it is what we want but i dont want to stress every month especially ttc child number 2 in the mix. Do you think that if next time we go to disney they will give us the same deal if we make that a condition for signning up?

No, I don't think that will be the case. Disney will offer you the deal of the moment. You are not in the drivers seat to make a condition on signing up.
It sounds like it is not the right time for you.
Do more research so you are comfortable in your decision.
Good Luck

 

[staceymay00]

I would take some more time to research DVC and the different resorts. Your payments alone will be $2880 a year (I'm assuming your payment includes the annual fees, if not then add those on) and then you still have to buy tickets and food for your WDW trips. I would check into the resale market. OKW contracts sell for $70 per point and many for even less. Save for a few years and pay up front. Financing a timeshare is not a good decision if you are already worried about how you will make the payment each month.

I know it is tempting when they offer the extra year of points. I have been seriously considering adding on 50 OKW pts myself because of the $90 per point cost and an extra year of points, even though we only closed on our resale purchase last month. I'd love to do it but on the other hand we just paid up front for a resale contract and truly have better things to do with the money right now. Keep in mind that many resale contracts have two years of points, and maybe even banked points. Our contract came with 2009 and 2010 points, so we essentially got the 2009 points for free and paid $70 per point.

 

[Lynne M]

we have never been to OKW this one they say is the lowest amount of $$ right now. we dont really know much about any of this.

OK, that's a showstopper right there. You made the right decision by canceling, at least for now.

I don't mean this to be snarky or rude in any way, but the first thing you need to do is understand what you're buying, before you spend thousands of dollars and end up in a multi-decade contract for a resort you don't like, or a vacation club that doesn't fit the way your family vacations.

You need to learn about the various resorts, you need to learn how the program works, you need to learn what you get with DVC, and what you don't get. Google "Disney Vacation Club" and read everything you can find. Read these boards, learn about the pros and cons of the program, and of each resort.

Don't rush - there's always some sort of deal being offered. Always. And it's better to lose a year's points that to buy a timeshare that doesn't suit you, and possibly lose money when you decide to sell it.

First, and most important, why are you considering DVC? What attracted you? What do you hope to get out of it?

 

[littlestar]

I wouldn't do it right now. You can always rent points from members (it stays around $10.00 a point for the most part). Don't tie yourself into a payment right now without really knowing more about what you're getting. DVC isn't going anywhere. And they've always offered last year's points (depending on how your use year falls so that's nothing new).

You're locked into over $2,880 a year in payments (not to mention dues if they're not included). I'd slow down and take my time. DVC is not going anywhere. And you might find a small purchase of 100 points or less in the future may suit you, or not buying at all and just renting points from owners or special deals from Disney on cash.

 

[BEASLYBOO]

Really my telling you that DVC works for me and is a good decision can't be of any help to you. Monetarily I will tell you that I couldn't afford DVC through Disney no matter the perk offered. I bought through resales, I bought in 2000, at OKW at $60 a point, which is now, today selling around $63 or $65. Now some contracts are bear or stacked, I just waited until I found one that suited me and my wallet.

But I had already visited several times and stayed at a few resorts before deciding to buy where I like to stay, which is important.

I would cancel and think it through until you are sure.

 

[ToddyLu]

Put a stop on your contract and read, read, read. I didn't really know about the resale market before we bought last year and I kinda wish we had broken our contract of 210 in to 2 contracts for resale if needed. Learn about banking, the cancellation policy, how to use a holding account of points, blah, blah, blah. We are so thrilled with our purchase but please take the time to look at the resorts on the DVC webites or You tube to get an idea of what you want.

We bought AKV sight unseen. But we looked through countless pics of the resort and knew we wanted a darker warm decor, animals and a completel immersion in a resort "away" from Disney. So it was perfect for DH and I ---no children.

I can't imagine buying at a resort I didn't love and have a certain element of dissappointment on my trips pulling up to BLT when I really wanted OKW (just examples folks).

 

[AndriaRose]

I hear your worry about losing "double points". Research 'Use Years', and understand when points are allocated to each contract.

My use year is June. That means my contract gets its annual amount of points June 1st. If I buy right now, I am entitled to all points from "last year" because technically its still this year on my contract. So if I buy 50 points tomorrow I get 50 current points and will get 50 more as soon as June 1st gets here. Its not a sale, nor a special. Its how Use Years work out versus when you buy in.

Now, having said that, the plus of buying from DVC when you're past your banking window (and mine has passed for this use year), is that they will usually allow you to ignore the expired banking window and bank those 50 points. If they did not, those points would expire. So - add Banking points, borrrowing points, and expiring points to your research list. And do not fuss about losing those "double" points. You're not losing anything. They're just blabbing on about buying a contract that has current points available as well as new points coming up soon with its upcoming Use Year anniversary.

Lots of luck, and after you research banking and borrowing consider a small resale contract - that's how I bought in

 

[Sandisw]

thanks everyone i think we are gonna cancel and im sure im gonna kick my self because we are gonna lose on last years points if we decide to book in the future. this really sucks. my husband says he will make it happen if it is what we want but i dont want to stress every month especially ttc child number 2 in the mix. Do you think that if next time we go to disney they will give us the same deal if we make that a condition for signning up?

You will be eligible for whatever the discount and deal is when you buy. However, getting the current UY points (which is what they are billing as your "extra" set of points) is typical.

For example, I own a June UY. If I add on more points today, I will be given 2009 UY points since I have not yet started my 2010 UY and would be allowed to bank them. June 1st, I would receive another set of points.

So, that piece should still be available when you buy. Of course, things can change with Disney and at any time, they could suspend that. But, if they did, it would make people think twice about adding on points past their 8 month banking window.