Trying to get smaller than 100 point VGC (GCV) add-on contracts

[DVCGeek]

I've voiced to my guide and written an old-school paper letter to DVC complaining about the 100 point minimum for add-on contracts [particularly VGC (GCV)] and asking that 25 point non-financed ones be allowed come March 25/26 when sales open to all DVC members.

To be clear, I'm talking about small total purchases by the way, NOT doing multiple small contracts but still buying 100+ points combined total. {At the moment I think I could swing a cash purchase of 40 points @ $112 each and hope to SOMEHOW make that happen next month...}

Has anyone else done something similar?

Do people think this might actually work and/or have suggestions about what might?

Are there any rumors about smaller Grand Californian contracts being allowed, especially as the economy and financing contains to be rough? How credible do you think the source is?

 

[nunzia]

I didn't do this but I did express my concern that the founder's contract maximum was tossed aside, allowing them the ability to purchase many more points than originally allowed. They did call me, but I certainly don't expect they can do anything. I was just voicing my disappointment in them once again changing the rules out of the blue.

 

[ACDSNY]

I don't agree with the 100 point min either as DLR typically is not a week long stay for most people. I still think you'll see smaller contracts on the resale market at some point.

 

[CarolA]

I don't agree with the 100 point min either as DLR typically is not a week long stay for most people. I still think you'll see smaller contracts on the resale market at some point.

How? If you can only buy 100 points that that's all you can resale. You can't break that 100 points up to 2 50s.

I really understand Disney's logic here and if they can sell it then more power to them. Seriously it's a business where having 4 25 point owners costs them more then 1 100 point owner.

 

[tjkraz]

I didn't do this but I did express my concern that the founder's contract maximum was tossed aside, allowing them the ability to purchase many more points than originally allowed. They did call me, but I certainly don't expect they can do anything. I was just voicing my disappointment in them once again changing the rules out of the blue.

Wow! Talk about a d*mned if you do, d*mned if you don't situation for DVC. Don't think I've ever heard anyone complaining about DVC giving members MORE than was promised--especially considering what 160 points will get at VGC.

There will be plenty of points available come March 25th.

 

[nunzia]

How? If you can only buy 100 points that that's all you can resale. You can't break that 100 points up to 2 50s.

I really understand Disney's logic here and if they can sell it then more power to them. Seriously it's a business where having 4 25 point owners costs them more then 1 100 point owner.

They are letting people break them up into multiple contracts..on the VGC owners thread many have done this and I will also. So eventually..some should show up on the resale market.

 

[nunzia]

Wow! Talk about a d*mned if you do, d*mned if you don't situation for DVC. Don't think I've ever heard anyone complaining about DVC giving members MORE than was promised--especially considering what 160 points will get at VGC.

There will be plenty of points available come March 25th.

No, I don't see it as d** if they do and d** if they don't. The whole thing in the contract was that founders could buy up to 160 points, That was their guarantee and their incentive to buy a contract at DLR. I have no problem with that. What bothered me was that those of us who want VGC were working on the assumption that that contract would be honored, and, since so many founders could only buy so many points, there would indeed be some left for those of us second in line. The day before sales started my guide still assured me that they could buy no more than 160. My point was that if we had known from the get go that, conceivably, if every founder bough the max 500 points, they would run out well before the founder period ended, then some may have made different choices. It's just a matter of knowing the rules of the game when you are in it. If the original contract had said max of 500 I'd have been fine with that. But they changed the rules mid stream. If they had all of a sudden said the max was 100 then there would have been a huge outcry. It still was a contract change after the fact and that wasn't right imo.
Now..I don't blame the founders at all for buying what they can..that was allowed, so good for them.
They could have just given them their promised 160 and then on March 26 they could have added on like the rest of us.
I hope you are right and there are points left.

 

[M4travels]

How? If you can only buy 100 points that that's all you can resale. You can't break that 100 points up to 2 50s.

I really understand Disney's logic here and if they can sell it then more power to them. Seriously it's a business where having 4 25 point owners costs them more then 1 100 point owner.

We took our 150 points and broke it into two 75-point contracts. Granted it's not the 100 points you mention but it does become a "smaller" contract for possible sale somewhere down the line.

Wow! Talk about a d*mned if you do, d*mned if you don't situation for DVC. Don't think I've ever heard anyone complaining about DVC giving members MORE than was promised--especially considering what 160 points will get at VGC.

There will be plenty of points available come March 25th.

I think with all the hype with VGC, and the small number of units available, there was concern that if a majority of founders jumped on 500 points there would be few available for those who couldn't buy in the first month. Now, it was never mentioned in our contract what number of points we could buy as a founding member because that concept wasn't even out in 2005 when we bought at DLR.

I, too, believe there will be plenty of points available when March 25 rolls around.

 

[tjkraz]

No, I don't see it as d** if they do and d** if they don't.

Then I guess we'll have to agree to disagree about that one.

Given the high point costs for VGC, those with the Founding Member rights would be understandably disgusted if they were held to only a 160-pt purchase. Looking at the weekly prices, 160 points would get owners a full week in a Studio during Adventure or Choice season. That's it. DVC really had no alternatives but to raise the maximum.

I guess I can appreciate where you're coming from, but you are still making a huge assumption that this change will in any way impact your ability to buy. In the end I am confident you will find it's much ado about nothing. There will be points available on 3/25.

 

[dcfromva]

... Don't think I've ever heard anyone complaining about DVC giving members MORE than was promised--especially considering what 160 points will get at VGC.

I think most of the folks who are upset about the increased ceiling are folks who are worried about running out of points by the time they get a chance to buy....

I am waiting to buy until we go to Disneyland the first part of March because I want to get the AP incentive, but I must admit to a little anxiety about waiting... It meant enough to me to have the opportunity to get founding member status that we visited CA to buy our BLT contract, so I don't want to squander my opportunity... But...Aren't there a million points available (or is it more?)? Do you know how many founding members there are?

How long do you think before they will sell out?

 

[KAT4DISNEY]

What bothered me was that those of us who want VGC were working on the assumption that that contract would be honored, and, since so many founders could only buy so many points, there would indeed be some left for those of us second in line. They could have just given them their promised 160 and then on March 26 they could have added on like the rest of us.
I hope you are right and there are points left.

I too am not happy about them not honoring the founding member option agreement and would have made other choices had I known they would not. I'm coming at it from the lower add on that was all that was talked about by the guides and implied in the contract by not listing a minimum.

Even with completly thowing away everything about that agreement other than the buy in period I think there will be opportunities for other's to buy at the end of March.

To the OP - I have expressed my unhappiness with DVD to my guide and do still intend to send a letter as well. Apparently many founding members are doing the same and nothing has changed. At this point I don't think that it will b/c then they'd have even more disgusted founding members who could have bought less or would have bought in the founding member period. There are some who are deciding not to buy in part b/c of this new minimum.

But then again - the other thing I've learned about DVD/DVC is never say never. They will apprently do as they please to suit themselves.

 

[nunzia]

I apologize if the contract did not state 160..it seems to me I read somewhere that the wording was like" may buy up to 160 points in the founders period". If it never stated a maximum, then my point is moot.
If there was 1 million points and everyone took the entire 500 point max, then they would run out at 2,000 owners..I have no idea how many founders they are..anyone??
BTW..I don't think the points are that bad at VGC..I plan to buy 125 and that will give me enough to do most things I want to do..As was said, you really don't need a week at DLR and 160 is plenty for those 3-4 night vacations.
Fingers remain crossed until March 26

 

[KAT4DISNEY]

You were correct - it was an implied minimum (25 - as had been done since the start of DVC) and a stated cap of 160 pts. They modified both in my mind. They probably were hoping that removing the cap would appease for making a 100 point minimum. As usual - some are happy and others are not.

Still - I'd bet that you'll get your points.

 

[Brian Noble]

it was an implied minimum

What does it mean to "imply" a minimum level? Was it in writing, or was it not?

I hope you are right and there are points left.

History has shown that every time a new "hot property" has come on line, most folks here grossly under-estimate the time it will take to sell out. I wouldn't worry.

 

[bethy]

I really, really feel that there will be points available on March 25. I do hope that existing DVC members get first crack at them before the general pubic because I don't know that there will be enough points avail for every single person and business that wants them. In this economy, though, anything is possible.

 

[lisah0711]

Aren't there a million points available (or is it more?)? Do you know how many founding members there are?

How long do you think before they will sell out?

I think that you are in the ballpark on the number of points available. I think that it is more that the AKV Jambo House (not Kidani, which are still selling) DVC points and it took over a year for all those points to be sold. And that was when things were open to the public, lots more DVC folks are interested in Florida properties than California, and the economy hadn't tanked.

That's just my 2 cents worth!

 

[tjkraz]

Over all three of its sales centers (FL, CA, Chicago), DVC typically sells about 3-4 million points per year. Figure 350k per month. Does anyone REALLY think that...in 2009...they are going to be able to sell 500,000 points per month in February and March at VGC alone?

DVC could only dream of that. I don't think they will come close.

 

[logan115]

Can you still add on less than 100 pts at other dvc properties ?

thanks,
chris

 

[KAT4DISNEY]

What does it mean to "imply" a minimum level? Was it in writing, or was it not?

I say implied b/c what the contract stated was that a person who signed would be allowed an opportunity to become a founding member and would be allowed to purchase "up to 160" points. There wasn't a stated minimum - only max. It did not state that you would be allowed to purchase the resort minimum up to 160 points and it did not state you would be allowed to purchase 100-160 points. Now, it also could be construed to mean you could purchase one point but discussions were always that you would be able to purchase 25-160 - the same minimum that had always been required from day one. (From the boards I have heard that there was a 50 pt minimum for non-home resorts for awhile, but the fact it was dropped to 25 supports implication in the FM contract IMO).

I also use the word implied b/c I think it was much more than an assumption because of the long standing history. I supposed you could have an argument that it was anything less than 160 that would be allowed for purchase. Also, keep in mind that most of these options to become founding member contracts were signed long before BLT's minimum increase was even announced.

 

[KAT4DISNEY]

Can you still add on less than 100 pts at other dvc properties ?

thanks,
chris

Yes, the last I heard you could at all except BLT and now GCV.