We have nine days to change our minds...

[juliebug1997]

...so, I was hoping to get some advice/information from you DVC vets.

We bought into AKV yesterday. It was too good of a deal to pass up. However, my husband and I are huge second guessers so we were wanting to know if you ever really regretted doing it.

We absolutely fell in love with AKV even though we never really wanted to stay there before. The ability to use our points possibly on our cruise next summer (even though I know it's not the best value) was also a plus, especially if we were going to be adding a second mortgage of sorts into the mix. The cost would not hurt us so very much financially but my DH especially would like to hear some opinions.

 

[Deb & Bill]

...so, I was hoping to get some advice/information from you DVC vets.

We bought into AKV yesterday. It was too good of a deal to pass up. However, my husband and I are huge second guessers so we were wanting to know if you ever really regretted doing it.

We absolutely fell in love with AKV even though we never really wanted to stay there before. The ability to use our points possibly on our cruise next summer (even though I know it's not the best value) was also a plus, especially if we were going to be adding a second mortgage of sorts into the mix. The cost would not hurt us so very much financially but my DH especially would like to hear some opinions.

What if you can't use the points towards your cruise? Will that be a deal breaker? There just might not be any DVC availability left for that cruise.

You know you can get AKV for a lot less by purchasing a resale, right? But DVC has put some new regulations on resold points - no Disney Collection use (that means no DCL for points, which you already know isn't a great use of points). And they also said that meant no DVC Member Cruise (usually during a very bad time - prime hurricane season).

And you aren't only adding a second mortage into your mix if you financed the points, you also added the monthly dues on the points. After a while, with that cost continuing to increase, it starts to hit your wallet.

If you have any second thoughts about this purchase (and it sounds like you do), cancel it, do more research and try it again at a later date if that's what your research tells you.

 

[Brian Noble]

Did you go in planning to buy, after having carefully researched the system, or did you buy on the tour without doing a lot of due diligence first?

It sounds like the latter. If so, and you have any doubts---at all---rescind now and research the purchase carefully to make sure that this is what you want. The typical AKV contract is worth about $60-$70 per point on the resale market, so you're losing between 1/3 and 1/2 of your purchase price as soon as the ink on the contract is dry. Even more because you are financing the purchase. So, you want to be VERY SURE that this is what you want.

My advice: rescind, research the system, and carefully consider a purchase on the secondary market. If, after that, you decide you really do want to buy from the developer, the deal you have today will likely be very close to the deal you can get three months from now.

 

[Chuck S]

In a way, I agree with Brian Noble.

However, my initial purchase purchase was similar to yours...knew nothing about timeshares, other than the bad press they had all gotten years ago. I was not going to purchase, but my Mother made a snap decision at the presentation to purchase DVC...something she rarely would do is spend money without careful consideration, and every time she did so, it had turned out very well. And we added points to that membership 3 times.

BUT, during the time frame where we could rescind, I did exactly what you are doing...researching, reading all the documents, etc. and decided NOT to rescind the contract. DVC has been an excellent match for my preferred travel habits.

So my advice would be to continue to do your research, read all the documents, ask questions...then make the decision whether to rescind or not to rescind based upon that. If you feel DVC is a good match for you, do not rescind. Use and enjoy your membership.

 

[backyardponder]

If I were buying direct (which I wouldn't do...but anyway)...I'd wait to see what they are doing with the Grand Floridian. My guess is GF will be very expensive and number of points needed to stay there will be high...but I'd wait and see.

 

[etemplet]

...so, I was hoping to get some advice/information from you DVC vets.

We bought into AKV yesterday. It was too good of a deal to pass up. However, my husband and I are huge second guessers so we were wanting to know if you ever really regretted doing it.

We absolutely fell in love with AKV even though we never really wanted to stay there before. The ability to use our points possibly on our cruise next summer (even though I know it's not the best value) was also a plus, especially if we were going to be adding a second mortgage of sorts into the mix. The cost would not hurt us so very much financially but my DH especially would like to hear some opinions.

Congratulations !! You'll get lots of opinions as a result of your question. There are benefits to direct purchase VS resale point purchases. AKV is a beautiful resort. Enjoy.

 

[Brian Noble]

every time she did so, it had turned out very well.

I'm going to guess that the spread between developer and resale prices when she made this purchase was not even close to what it is right now. Because, remember, right now...

you're losing between 1/3 and 1/2 of your purchase price as soon as the ink on the contract is dry.

 

[juliebug1997]

We spent about 30 minutes in the room by ourselves looking at numbers so I think we did think it out some, but, obviously, not as much as DH would have liked. One of the points that really stuck out for me was that we would be given the full number of points for this year even though it wasn't a full year for us.

Thanks, I'll keep reading. I really just wanted some honest DIS opinions because I trust you guys (and my husband does as well because he asked me what you all say about these things).

 

[Deb & Bill]

...One of the points that really stuck out for me was that we would be given the full number of points for this year even though it wasn't a full year for us. ...

Don't take that as them being generous. That's what you are entitled to.

 

[disneynutz]

...so, I was hoping to get some advice/information from you DVC vets.

We bought into AKV yesterday. It was too good of a deal to pass up. However, my husband and I are huge second guessers so we were wanting to know if you ever really regretted doing it.

We absolutely fell in love with AKV even though we never really wanted to stay there before. The ability to use our points possibly on our cruise next summer (even though I know it's not the best value) was also a plus, especially if we were going to be adding a second mortgage of sorts into the mix. The cost would not hurt us so very much financially but my DH especially would like to hear some opinions.

I have a couple of thoughts. You say that you feel in love with AKV. How do you know that you won't like another resort even more?

It also sounds like this may have been an emotional purchase. Forget about what the Guide told you or made you feel, you are paying a lot of money for a pre-paid hotel room, nothing more.

Besides the deposit, monthly payment, interest, and increasing dues, you will need a couple of thousand dollars each vacation to cover your transportation, food, admission tickets, and extras for as long as you own your contract and these costs also increase each year.

Bottom line is if you vacation at WDW every year anyway, then the DVC can save you some money. Other wise be prepared for some expensive vacations.

Bill

 

[KAT4DISNEY]

One of the points that really stuck out for me was that we would be given the full number of points for this year even though it wasn't a full year for us.

That will happen anytime that you purchase direct so if that's a big part of the good deal then factor it out of the decision. And current points can also be found in many resale contracts. Via resale it's also possible to pick up a contract that has banked points so the potential is there to get even more points than direct.

From what you've posted at this time I'd also recommend recinding the purchase. You can always call them up later after doing more research and get it started again or you may decide that some of the trade benefits aren't worth the additional cost of buying direct and decide to look for a resale. DVC itself isn't going anywhere so take the time for the research.

 

[Kidanifan08]

First of all, congratulations! Based on your signature, it looks like you will truly enjoy DVC membership!

We bought AKV direct from DVC in 2008 and financed the purchase. We were able to pay it off in a little over 2 years, but we did pay a fair amount in interest. Without DVC financing, we would not have been able to make the purchase at the time. I don't think I would have done the financing if I didn't think we could pay it off early. We have had several fantasic vacations, and did not want to post-pone the purchase, since our son was still young and we wanted to use it while he was little. We did not know anything about the resale market or DISboards at the time, but we have family who have been DVC owners almost since OKW opened, and we knew we would be happy with the purchase. We have never used the points for an exchange, and at this point, we never plan to.

With that said, the current difference between the direct pricing and resale pricing should make you consider rescinding. It just depends on whether you have a means of making a resale purchase for as many points as you desire (cash on hand, home equity line). There are a ton of AKV resales out there, so you may be able to find something fairly loaded with points. Certainly, the savings over buying direct may cover the cost of your next Disney cruise! The resale market does give you a chance to think about the other resorts, although as an AKV owner, I think you made an excellent choice!

At this point in time, I don't think I would buy direct. Instead, I might purchase small contracts sequentially with cash to get to the number of points I needed. The savings on the resale market are just too good right now.

 

[Andrew015]

In my opinion, purchasing direct from Disney is a tremendous waste of money over buying DVC through Resale. The money you will save by going Resale over purchasing Direct is substantial, and the arguement only gets worse if you are financing the purchase. DVC won't be going anywhere anytime soon. I think you would be wise to cancel your purchase, and continue researching the purchase options before making a final decision.

Many folks here will pose so many questions and arguements against DVC, that it makes you wonder "Why am I doing this, and why do you own if it's such a bad purchase"? Don't take these questions the wrong way. We're trying to play devils advocate to all of the "pixie dust" that you snorted while getting a Disney guided tour. They sugar-coat the purchase so much that you often lose sight of the downsides of DVC (yes, there are some, despite what you heard on the tour).

But at the end of the day, DVC can save you money over the long haul and be a good investment if used correctly. But it takes a special kind of "Disney Nut" to truly take advantage of the program, and make it a worthwhile, value-driven purchase. If you're purchasing DVC to use points on the occassional WDW vacation, and supplement with Disney Cruises, "The Adventurer's Collection", or for trading into RCI for other destinations, then I would strongly advise you against the purchase. You would be far better off paying "cash" for such vacations, or to explore another timeshare opportunity. However, if your main objective is to vacation at WDW once every year (or every other at the minimum), and you are positive that you won't grow tired of Disney vacations, then you're already on the right track by exploring DVC. You just need to take your research one step further and explore the "Resale" purchase option to get the most bang for your buck.

 

[JimMIA]

One of the points that really stuck out for me was that we would be given the full number of points for this year even though it wasn't a full year for us.

As others have mentioned, they didn't give you a thing. You are buying those points; Disney is delivering what you are buying...end of story.

I know the DVC timeshare salesman made it sound like a LOT more than that, but it's simply not true. That's just sales-weasel speak.

You are just getting what you are paying for...and with a less than normal period of time to use the points. Far from a "bargain."

If they're going to let you bank points into next year AFTER the normal banking deadline, that's a legitimate benefit...but it's not a huge deal.

The default answer to any recision question has already been provided by Brian above.

No matter what you paid...no matter what resort you purchased...regardless of whether you bought direct or resale...regardless of which timeshare company's product you bought -- if you have any doubts AT ALL, RESCIND.

The question of whether DVC is a good fit for your family is irrelevant. The question of whether you paid too much or too little is irrelevant. The question of whether you understand what you bought is irrelevant.

If you have ANY doubts...rescind.

DVC will be here next week, next month, next year -- whenever you are well-informed, ready, and confident in your decision. DVC is not going anywhere.

Take your time, do thorough research, look at ALL the possibilities, and then decide.

 

[JimMIA]

We're trying to play devils advocate to all of the "pixie dust" that you snorted while getting a Disney guided tour.

Pixie dust is not snorted. Pixie dust is sprinkled. A person affected by pixie dust is not impaired. They may be in a little fog...or not.

We've all been there.

Pixie dust is a good thing. Weasel-speak is a bad thing.

 

[juliebug1997]

Thanks, everyone! I appreciate all your honest information. I think we will be taking the advice of buying a contract second hand later.

 

[AnnaS]

Congratulations and Welcome Home!

 

[Andrew015]

Thanks, everyone! I appreciate all your honest information. I think we will be taking the advice of buying a contract second hand later.

I think this is a good decision for the time being. Soak up as much info as you can from the DVC forums, and begin searching the major broker sites.

 

[gfyjny]

We purchased our first DVC direct from Disney while we were vacationing at WDW in May of 2010. We initially rented points from a Bay Lake Tower owner for $11 per points to stay at BLT. It was definitely cheaper option than booking a room directly from Disney. We would always stay at a four star or higher hotel accommodation and decided that buying a DVC made sense to us since our whole family loves Disney. We decided to buy Villas at Grand Californian because it was cheaper than BLT and we live in CA so we have gotten more use out of it than other WDW resorts. Since we purchased it we have gotten good use out of it including multiple visits to VGC and also staying at other Disney resorts at Disneyland. We are using our points to go on our next Disney cruise in June 2012 along with before and after cruise stays at BLT and AKV. BLT stay was booked with a 7 months window with no problem and hoping for the same luck with AKV booking next week. I was able to book the cruise in March of 2011, but made room changes just a week or two ago to add another passenger and it wasn't a problem. We do not regret our direct DVC purchase from Disney because we are truly enjoying our ownership and since then we also purchased Aulani direct and we're very happy.
Hopefully you and your family would enjoy DVC as much as we are.

 

[gfyjny]

One more thing, if you do decide to buy resale later on, know the limitation/restriction before buying resale. I believe you can't use your points for Disney collection options like using for staying at other non DVC Disney resort hotels and Disney cruises, and adventure by Disney. This is a major factor for us since we are planning on using our points for staying at Disney resorts in France, china and Japan in he future. (I know it's not the best use of the DVC points) but still better than booking direct cost wise.). So just something to consider depending on how you would want to use your DVC points.