Type S l o w l y, I am a newbie...:o)

[jngwright]

Hi-We love WDW and just took our 10th trip, with many more to come. (We have twin 4 year old boys! ) I have zero timeshare experience, so bear with me!!
A couple of questions:
1-Buying resale allows you to buy from someone who is a DVC member that is selling their timeshare, right? So you are buying the years they have left?
2-Do you have to buy points, then, in addition to the buy in cost?
3-Are park passes included, or offered at a discount?
4-If you buy-in as a new member, you can only choose from the new resorts that are available?
5-Can you only travel at a certain time? I don't understand when I see that someone bought Aug.
Sorry to ask questions that have been asked a million times-I have been researching and am still confused!
TIA

 

[Chuck S]

Type S l o w l y, I am a newbie

To answer your questions:

1. Yes, that is correct. However, it is also possible that they have "borrowed" and used the points from their next use year...so it may be time remaining, less one year, depending upon the contract.

2. No, the points are awarded yearly at the start of your use year. Think of them as the way you use your membership to make reservations. You do have to pay taxes and maintenance fee based upon the percentage of the resort that you own, and the number of points represents that percentage...thus taxes and maintenance are priced "per point." These taxes and fees are also commonly referred to as "dues."

3. The only park pass discount at the moment is $100 of an Annual Pass and $125 off a Premium Annual Pass. There are also some discounts for Pleasure Island, Water Parks, etc...but no discount on Magic Your Way park tickets.

4. Sometimes DVC will have points available to new members in the other resorts. They acquire these points either through foreclosures or Right of First Refusal (if someone sells their contract, and Disney thinks the price wasn't high enough, they can buy the contract.) However, contracts at older resorts all expire in Jan. 2042. SSR expires Jan. 2054, and AKV Jan. 2057.

5. You can travel anytime, you use your annual points to reserve a room anytime of year. The months refer to use years, these use years deal with two things...A) you receive your annual allotment of points on the first day of that month. B) you have specific windows in which to bank your points for use into the next year, and that banking window is based on that use year (month).

For instance, I have a June use year. I receive my annual points on June 1. Those points are for use June 1, 2007 to May 31, 2008. If I want to use those points for reservations after May 31, 2008, I have to bank them to my next use year (June 1, 2008). It sounds complicated, but really, it is very easy once it "clicks".

 

[jngwright]

Thank you for explaining! You should work for DVC

 

[ransom]

I'll try to answer your questions.

DVC isn't a traditional timeshare program. So instead of buying a given week, you buy a yearly allotment of points. Whatever number of points your contract is for, is the amount of points you get every year. Then you can use those points to pay for your stays.

Each DVC resort has a planned "end date." For example, Villas at Wilderness Lodge has an end date of January 31, 2042. All the contracts for a given resort are good through the termination date of the resort. So, Villas at Wilderness Lodge contracts all continue through January 31, 2042.

Each contract, in addition to a number of points, has a "Use Year" associated with it. What that is, is the month each year in which you get your allotment of points. So if your 150 point contract has a February Use Year, you get 150 points every February.

Once you have a contract, it works sort of like booking at any hotel, only you pay with points instead of dollars. So, like at any hotel, it'll be more expense (that is, more points) to stay in high season than in low season, and more expensive for larger suites than smaller studios.

But you can book any time you have enough points for the type of room you want, and the type of room you want is available (that is, all the available rooms of that type for that time period haven't been booked by other people first).

When you buy a contract, you buy it at a given resort. That's your "home resort." You can book there 11 months in advance. You can book at any other DVC resort up to 7 months in advance. So you can see your chances of getting what you want are much better at your home resort. (But don't think it's impossible to book other resorts; it's just difficult at certain resorts and at certain times of the year.)

Buying a DVC contract can be done on the resale market (where, as you suggest, you would be buying an existing member's contract), or it can be done through Disney. Disney can sell you any resort, but they don't always have points available at all resorts. They always have points at the resorts they are currently building, of course. On the resale market, you can currently get any resort except the brand new Animal Kingdom Villas.

I hope that answered some of your questions.

Oh - and yes, you can get about $100 off the price of an Annual Pass if you're a DVC member.

Best wishes!

 

[1-407-WDWJUNKIE]

1-Buying resale allows you to buy from someone who is a DVC member that is selling their timeshare, right? So you are buying the years they have left?

All resorts have an end date, 2057 for Animal Kingdom, 2054 for Saratoga Springs, and 2042 for all others. This will be the same if you buy resale or direct from Disney.

2-Do you have to buy points, then, in addition to the buy in cost?

Resales are typically sold at cost per point. For example someone might be selling 100 points at $80 a point for a total of $8000. There will be a closing cost and possibly you will have to pay some maintenence fees upfront when you buy.

3-Are park passes included, or offered at a discount?

There is a Discount on Annual Passes but not regular tickets. It is $100 for adults of a new AP right now. Premium annual passes have a bigger discount but I can't recall right now. Kids Annual Passes are $85 off I think.

There are a bunch of other discounts that come with being a member, such as 10% or 20% off certain resteraunts and to certain nights for the Halloween and Christams Parties. These change.

4-If you buy-in as a new member, you can only choose from the new resorts that are available?

You may be able to get buy a sold out resort direct from Disney though you will probably have to waitlist. There will still be a 160 point minimum for your initial purchase.

5-Can you only travel at a certain time? I don't understand when I see that someone bought Aug.

Your "Use Year" is the Month your yearly allotment of points comes. If you have 200 points with an August use year, you get your 200 points on Aug. 1 every year.

You can travel any time as long as you have the points. You can also stay at any resort.

You can make your reservation 11 months in advance at your home resort, and 7 months in advance at any other resort. The only advantage you get with your home resort is that 4 month booking window between 11 and 7 months. If you want to book at your home resort 6 months out you do not get any priority over any other member with a different resort.

 

[1-407-WDWJUNKIE]

Wow, beat to the punch by two others. Must learn to type faster.

 

[jngwright]

Thanks to all of you for the clairfications!!