We did it! FW purchase at RIV

[SugarSweetLee]

Yeah each favorite week is a separate contract. All the points for that contract are used when keeping the fixed week, so you could add a couple extra points to a fixed week contract to hit an incentive level or something but you lose out on those extra points each time you actually use the fixed week.

I have my call scheduled tomorrow morning and it will have to to be 3 contracts, 135 points for fixed week 50, 114 points for fixed week 39, and a 51 point third contract to get us to the 300 point level

My guide actually told me that the FW contracts had to be for the number of points exactly (I asked about adding a single extra point to get up to the next incentive break and got a No).

 

[davidhr]

Congratulations!

Out of curiosity, did your guide review financing options with you? When we bought Riviera a year and a half ago, we financed directly with Disney. At that point, if you could pay it off in 12 months the rate wasn't too bad. I think our rate was only 6-7 percent at the time, which on a 150 point contract was only a few hundred bucks over the year.

I was just wondering if rates have skyrocketed, along with everything else these days.

Are you sure? The best rate for a while has been 8.99% with auto pay if you put 20% down payment.

As far as I know, it’s still the same rate now.

 

[SugarSweetLee]

Congratulations!

Out of curiosity, did your guide review financing options with you? When we bought Riviera a year and a half ago, we financed directly with Disney. At that point, if you could pay it off in 12 months the rate wasn't too bad. I think our rate was only 6-7 percent at the time, which on a 150 point contract was only a few hundred bucks over the year.

I was just wondering if rates have skyrocketed, along with everything else these days.

They did review several financing options with us when we took the tour in April, but none of them were very appealing to us. I think the lowest APR available was 10% for 5 years. I don't recall any single year options but they might be available on request?

We actually opened some new credit cards with 0% APR for the first 15 months and are basically self-financing that way.

 

[Tatebeck]

My guide actually told me that the FW contracts had to be for the number of points exactly (I asked about adding a single extra point to get up to the next incentive break and got a No).

Hmm I swear I had read about someone either doing it or at least talking to their guide about it before in the "All About Fixed Weeks" thread.

Edit: Yeah here's one where they talked about it with their guide https://www.disboards.com/threads/dvc-should-halt-all-direct-sales.3830636/post-62821403

I wonder if they stopped allowing it? Or maybe your guide was mistaken?

 

[ehh]

Are you sure? The best rate for a while has been 8.99% with auto pay if you put 20% down payment.

As far as I know, it’s still the same rate now.

8.99% with autopay and 20% down is the best rate for 5yr financing, but I recall there is also a 1yr financing with even lower rates. It might have also required 50% down? I recall my guide offering something like that to me when I added on in 2019.

 

[mistysue]

8.99% with autopay and 20% down is the best rate for 5yr financing, but I recall there is also a 1yr financing with even lower rates. It might have also required 50% down? I recall my guide offering something like that to me when I added on in 2019.

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Oops - I just commented about 12%, that is for new members.
They still offer 8.99 for existing members. That surprises me that the offers are different for interest rates.

 

[davidhr]

8.99% with autopay and 20% down is the best rate for 5yr financing, but I recall there is also a 1yr financing with even lower rates. It might have also required 50% down? I recall my guide offering something like that to me when I added on in 2019.

Maybe that’s an option. Haven’t heard of it personally but haven’t asked about it.

 

[davidhr]

The current sheets they are sending out show a lowest rate of 12%!!! That is 20% down with 5 years and direct debit.

Members have slightly better (less horrible) rates https://dvcexplorer.com/fin/m/Riviera_Member_DeveloperCredit.pdf

 

[atthebeachclub]

I am too lazy to read the entire fixed week thread, but I know I see a lot of writing about fixed week 7. Could somebody explain in simple terms what makes that particular week enticing? I bought resale somewhere without fixed weeks so really haven’t looked at them at all!

 

[SugarSweetLee]

Congratulations!

Out of curiosity, did your guide review financing options with you? When we bought Riviera a year and a half ago, we financed directly with Disney. At that point, if you could pay it off in 12 months the rate wasn't too bad. I think our rate was only 6-7 percent at the time, which on a 150 point contract was only a few hundred bucks over the year.

I was just wondering if rates have skyrocketed, along with everything else these days.

I forgot, my guide did mention in a different email that they have a non-publicized option where you can put 50% down and get financing at 5.95% for a 1 year term. We had already decided on a different route at that point so I didn't pay much attention to it at the time

 

[Tatebeck]

President's Day I think usually is around week 7. Kids are out of school but its not spring break crazy or summer hot

 

[SugarSweetLee]

I am too lazy to read the entire fixed week thread, but I know I see a lot of writing about fixed week 7. Could somebody explain in simple terms what makes that particular week enticing? I bought resale somewhere without fixed weeks so really haven’t looked at them at all!

For most years, week 7 comes out a little cheaper at the FW point cost than if you just booked the exact same dates normally. It also tends to fall right in between President's Day weekend and Princess Half Marathon weekend, which are popular times to visit.

 

[Tatebeck]

Ah so it's like week 39 that myself and some others are doing that due to when they made the fixed week lists it comes out a good deal too? That is a pretty good week then.

 

[atthebeachclub]

For most years, week 7 comes out a little cheaper at the FW point cost than if you just booked the exact same dates normally. It also tends to fall right in between President's Day weekend and Princess Half Marathon weekend, which are popular times to visit.

Ah so it's like week 39 that myself and some others are doing that due to when they made the fixed week lists it comes out a good deal too? That is a pretty good week then.

How come these weeks come out less? Is it true at all resorts with fixed weeks, or only some? Thank you!

 

[Tatebeck]

It just depends on the year that they made/last updated the fixed week chart for each resort I believe. Some weeks cross over both month and point season lines. These can be a better deal for a fixed week if the week happened to be in a lower point season when they made it but cross into a higher point season often. I don't think there are that many, and especially if you are looking for them in a popular time of year.

 

[supercarrie]

Ah so it's like week 39 that myself and some others are doing that due to when they made the fixed week lists it comes out a good deal too? That is a pretty good week then.

Yes, the FW cost is 153 points but 2025 point chart would cost 155 points if booked the “normal” way.

We picked it as we had a Feb use year for our current BLT contract so wanted to stick with that. I debated another 153 point week but ultimately felt like that week would be good for potential rental potential, too.

 

[SugarSweetLee]

Hmm I swear I had read about someone either doing it or at least talking to their guide about it before in the "All About Fixed Weeks" thread.

Edit: Yeah here's one where they talked about it with their guide https://www.disboards.com/threads/dvc-should-halt-all-direct-sales.3830636/post-62821403

I wonder if they stopped allowing it? Or maybe your guide was mistaken?

I'd read a much more recent post mentioning the option, which is what prompted me to ask my guide. I suppose it's possible he was wrong, but he did mention some things about FW had changed in general so maybe that was one of them. Because we decided to split up our points a different way (asked about 135FW + 114FW plus 1; instead decided on 153FW + 97), I didn't press the issue further since it didn't matter for our purchase.

 

[Floridian From Afar]

I forgot, my guide did mention in a different email that they have a non-publicized option where you can put 50% down and get financing at 5.95% for a 1 year term. We had already decided on a different route at that point so I didn't pay much attention to it at the time

I just checked my old statement. 5.45% with a 50% down payment. So pretty close. Though your 0% for 15 months is tough to beat.

 

[SugarSweetLee]

Congrats on the purchase! We're huge fans of Riviera and a SV Studio FW is a really smart choice (especially 153pts for week 7, which is 155pts booked normally in 2024 and 2025).

Something I've always been curious about with FW+extra purchases, is it 2 separate contracts or a single 250pt contract that includes FW privileges?

I've always assumed it's 2 contracts but figure I can ask to find out for sure!

Each FW has to be its own contained contract that has the points for that week only. Our closing costs went up slightly because of this, since there is a $250 docs fee that applies for each separate contract. But, we wanted separate smaller contracts for Riviera anyway bc of what I'd read about them being a little easier to sell off in resale if we ever decide to downsize.

 

[byurick]

Dumb question but if you've got a contract with a FW how easy is it to change plans if you cannot make the trip then? How locked into that week are you?