We're In - Now What?

[TonyS20]

My DH and I have decided to purchase 200 points at SSR. I have not had any contact with Disney, but used these boards and other websites to gather information. I did request information to be sent to us, but in the meantime, we have made our decision. Now what do we do?

Can all the business be conducted over the phone/web? What is the process? We are planning to use Disney financing. How exactly will that work? I would assume they pull credit, issue approval/decline and then begin to withdraw payments at the appropriate time?

Does anyone know what use year they are currently selling at SSR? When can you book at SSR? Are they currently accepting reservations? If not, does anyone know when they will?

Sorry for so many questions, but I'm very excited! If someone could outline the process that I should expect, I would really appreciate it!

 

[JimC]

Call DVC and ask for your guide. Everything can be handled by phone and FedEx.

Good luck and Congratulations

 

[floridafam]

You can pretty much do everything over the phone.

I assume you were assigned a guide when you requested the paperwork be sent to you.

You will fill out the paperwork and credit application. They will notify you of approval or denial. They usually only ask for more to put down if someone's credit doesn't fly. This is just FYI-I'm not saying you won't pass the credit check.

SSR has the $10 per point credit available.

200 pts would cost $17,800. You would have to put down $1,780 out of your own pocket. If you choose the credit, DVC would kick in an additional $2,000 toward your down payment. This would leave you with a balance to finance of $14,020. If you finance at 9.75% for 10 years your payments would be $183.34 per month. The interest rate for financing is 10.75% but they give you a point reduction if you use direct debit.

There are shorter financing periods available.

You can even put 1/2 down and finance the rest for 1 yr.

SSR owners will be able to book on December 1 for stays anytime after the resort opens.

SSR monthly payments and dues do not start until next year. Payments would start on either May 15 or June 1. Dues would not start until the month of your use year next year.

Dues on SSR pts are $3.80 per point and can be paid in a lump sum once a year or on a monthly basis.

Enjoy.

Congratulations and Welcome Home.

 

[ncligs]

"CONGRATULATIONS" and WELCOME HOME"!

 

[TonyS20]

Thanks for the advice! I would assume that I've been assigned a guide, but I just requested information on Thursday. Should I call into Member Services directly in order to speed along the process? Will the information packet include all of the paperwork necessary to purchase?

Thanks for the calculations, floridafam. They match what I had calculated, so that makes me feel good! As for the down payment, is it easier to charge that and then pay off the credit card or do they only accept money order/bank checks?

Also, does anyone know what use year they are currently selling at SSR?

Thanks for the information and the "welcome home" wishes! I appreciate it!

 

[ncligs]

Originally posted by TonyS20
As for the down payment, is it easier to charge that and then pay off the credit card or do they only accept money order/bank checks?

You can put the down payment on a credit card over the phone.
If you want a recomendation for a guide...Marc Turner is ours and is very good.

 

[CRSNDSNY]

Originally posted by TonyS20
Also, does anyone know what use year they are currently selling at SSR?

Hi! We are currently filling out the paperwork for our first DVC purchase -- 200pts SSR. We were given a December Use Year. I spoke back and forth to our rep (Julie) for about a week at the end of August, then on August 29th we gave our deposit. We received our backpack, Member Guidebook and Agreement paperwork on September 5th. We're hoping to get Notarization by Tuesday and send it all back in the FedEX envelope they provided.

She said we can start making reservations beginning December 1st for SSR and I believe as soon as approval goes through, we could make other reservations (within the rules) immediately.

I hope this helps!


btw...I'm a big Tony fan, too!!!

 

[TonyS20]

Thanks, CRSNDSNY. It sounds like this will be a fairly easy process. Was the deposit $500? Did your deposit count toward your down payment or was that separate?

ncligs - Thanks for providing your guide information. I will give Marc a call tomorrow to get the process started.

Thanks again for all of your help!


btw, CRSNDSNY - you would love my office - I'm in the process of converting it into a Tony room. I was waiting for the contract extention before I did the painting. My collection is getting out of control!

 

[CRSNDSNY]

Originally posted by TonyS20
Thanks, CRSNDSNY. It sounds like this will be a fairly easy process. Was the deposit $500? Did your deposit count toward your down payment or was that separate?

btw, CRSNDSNY - you would love my office - I'm in the process of converting it into a Tony room. I was waiting for the contract extention before I did the painting. My collection is getting out of control!

We opted to give 20% down, so I'm not totally sure about the $500 option. Maybe someone else can answer that question. The deposit did count toward the balance owed. They'll also credit the savings (which makes the point cost come to $79/pt) that Disney gives you.

For example: If you bought 200pts:

20% DOWN = $3780.00
DISNEY ADVANCED FUNDS INCLUDES CREDIT = $2,000.00
OUR CASH DOWN = $1780.00

PURCHASE PRICE: $17,800.00
CASH DOWN PAYMENT (above): $3780.00
BALANCE OWED: $14,050.00

We chose the auto-debit 10-year payment plan at 9.75% interest.

2004 estimated Annual Dues is $3.80 per point.
DVD will pay all settlement/closing charges and title insurance.

You'll have to post some pics of your collection!!!

 

[DrTomorrow]

TonyS20 - Welcome Home!

(Hey, my first WH to someone else! )

We just did the SSR paperwork on Saturday (9/6) and got a Feb use year.

We are just finishing up what you are starting - if you want to read about it, here are the links: And So It Begins, The Avalanche Has Already Begun, Ah. You Seek Meaning, I Have Always Been Here.
Not sure about the $500 - we did 10% on our Visa (our Guide recommended it if we get air miles) and then they added the $10/pt to the down payment. If you have any other questions, feel free to ask here or PM me.

Enjoy the ride,
Erick

 

[dyingtodisney]

Congratulations! I am STILL awaiting my big Fed Ex package. We put down $500 but the deal is you still have to have the remainder of the 10% deposit down within 20-30 days. You can give them different credit cards if you want to and split it up.
I put my deposit down last Monday and got a December use year but he said it was only because we started talking to Bernard early August.

 

[TonyS20]

You guys are great!

Erick - I read your posts with great interest. I no longer feel alone since I know you just went through the same thing me and my DH are about to go through. However, I never spoke with anyone at Disney before making the decision - all I needed I found here!

dyingtodisney - I knew I had seen that someone had put down a $500 deposit to recieve their paperwork. Since the down payment is going on the plastic to earn rewards, I'll probably authorize the entire amount. I was just confused if you could only put down $500 or if you could have the entire down payment processed. Thanks for clearing it up!

ncligs - I left a message for Marc this morning asking him to give me a call one evening. Thanks for the suggestion to call him!

Thanks to all for the great advice. It won't be long and I can officially be "welcomed home!"