What is Magical Beginnings?

[prncssjas]

Hi everyone.

Okay...as I plow through the learning process, I now have one more question...I have read a few posters mention "magical beginnings"--what is that? Some kind of sale or discount that Disney offers?? Can anyone shed some light?

Right now...I am trying to decide whether or not to buy through re-sale (BWV) or go with VWL & Disney. Any opinions?

Thanks again everyone!
Rima

*** Biggest Aladdin Fan in the WORLD!!!***

12/79 Day Guest
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1996 Cast Member
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9/00 GF-HONEYMOON
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[MinnieMe2]

Hi, Rima!

I know what you're going through. We just purchased the other day, but we agonized for a month!!

I'll try to explain my understanding of 'magical beginnings', but it's possible someone else will correct me. Magical Beginnings is a plan whereby you have to physically be on Disney premises to sign. If you purchase, for example, 200 pts., Disney will 'buy back' 100 pts. for $10 each, and you can use the $1,000 toward your down payment, first payment, however you decide. I've seen postings stating that as of April 1, the buy back price will drop to $5 a point, but when we were there in Feb. we were told $10.

I hope I'm not misleading you, but I think this is how it works.

Counting the Hours Til We're Back in the World

Mother-of-Four (Five, If You Count My Husband)

 

[prncssjas]

Oh gosh! Thanks for such a quick response. That was very helpful. Yes--it is stressful (but only in the very best way possible!).

Okay...I think I understand. So there is obviously no way possible that I could do this from my house here in Michigan?! Okay, got it.

MinnieMe2--where did you and DH purchase? Was it re-sale or through Disney? Did you finance? Sorry...so many questions, but again, I'm trying to learn through everyone else's experiences. Loved your signature...it made me lol!

Thanks,
Rim

*** Biggest Aladdin Fan in the WORLD!!!***

12/79 Day Guest
7/84 Day Guest
7/88 Disneyland
7/95 Off Site
1996 Cast Member
2/97 CBR
9/00 GF-HONEYMOON
11/01 GF Concierge

 

[TriciaT]

Rima,

We bought the other day too and used Magical Beginnings. We bought from home and never took a tour. You do not need to be on site to do this.

We purchased 200 points at WLV. My husband put 20% down by using Magical Beginnings. We gave them $1880 and sold back 100 first years points for $1000.

If you want to take advantage of that offer, you need to do it before the end of this month, because as MinnieMe says it is changing effective April 1.

I hope this helps.

Tricia

Always dreaming of Disney
CBR 8/96
AS Sports 11/98
AS Movies 3/00
WL 7/00

All future trips as a DVC member!

Hoping for....
GF 6/3-6/6/2002 for 10th anniversary
and
WLV 12/16-12/27/2002

 

[prncssjas]

Hi Tricia!

Thanks for writing....but sorry--call me an airhead but I am still confused. Let me see if I understand...you and DH bought 200 points at $72 per point with Disney. Then what happened? You put down %20, which is $2880. You then gave back a 100 points?


I am SO sorry but I am lost!! Can you explain some more for me?? I hate to bug you but I'd love to hear how you guys did this and since I only have until April 1st, then I need to hurry don't
I?

Thanks,
Rima <IMG SRC="/infopop/emoticons/icon_confused.gif" alt="confused"> <IMG SRC="/infopop/emoticons/icon_confused.gif" alt="confused"> <IMG SRC="/infopop/emoticons/icon_confused.gif" alt="confused"> <IMG SRC="/infopop/emoticons/icon_confused.gif" alt="confused">

*** Biggest Aladdin Fan in the WORLD!!!***

12/79 Day Guest
7/84 Day Guest
7/88 Disneyland
7/95 Off Site
1996 Cast Member
2/97 CBR
9/00 GF-HONEYMOON
11/01 GF Concierge

 

[MinnieMe2]

We took our tour on Feb. 17 while we were at WDW. In order to take advantage of Disney's VIP Financing, which is a reduced interest rate, we had to sign within 30 days of our tour. Monday was Day 30, and that's the day DH called our guide and purchased. It was a surprise to me because the night before we had decided that with our second one off the college in the fall, this wasn't the time. Not that I'm complaining! But, as usual, I digress. We are financing through Disney, but I've seen some postings here stating that people have financed with a home equity loan because the rates were better than Disney's. And if you're not planning to take a tour, the VIP rate would not be available to you.

Now that I've managed to totally confuse you, good luck!!!

Counting the Hours Til We're Back in the World

Mother-of-Four (Five, If You Count My Husband)

 

[TriciaT]

Sorry Rima, I guess I didn't word that well.

Here is specifically how we financed our 200 pts.

200 pts at 72 pp is 14400

We gave them 1,880 over the phone on Amex.

We sold back 100 points and applied it to our downpayment, for another 1,000.

We are financing the remaining 11,520 at 10.95% interest for 10 years at $158.36 a month plus 60.46 in dues.

Because we got the special interest rate of 10.95 we decided to go with 10 yrs to have the least minimum payment with full intentions of doubling payments regularly. If we would have had to pay a higher rate for a longer term, we would have probably done 3 or 5 years.

I hope this helps. And you are not bugging me, my real life friends are sick of DVC talk, so this is great!

Tricia

Always dreaming of Disney
CBR 8/96
AS Sports 11/98
AS Movies 3/00
WL 7/00

All future trips as a DVC member!

Hoping for....
GF 6/3-6/6/2002 for 10th anniversary
and
WLV 12/16-12/27/2002

 

[prncssjas]

Hi Tricia!

Thanks of clarifying. That helps a lot! But I am curious about this--why would you want to sell back 100 points for only a thousand dollars? Don't you lose $$ that way? I mean...aren't those 100 points worth $7,200? Or is this question off?

So now you and DH only have 100 points left? Oh poop--I think I missed something again! But everything else makes sense so far. BTW: is that due of $60 per month? Or year? I am guessing per month and that is in ADDITION to the monthly payment correct??

Okay...thanks for writing me. I always want to har about DVC stuff so chat away!

Thanks,
Rima

*** Biggest Aladdin Fan in the WORLD!!!***

12/79 Day Guest
7/84 Day Guest
7/88 Disneyland
7/95 Off Site
1996 Cast Member
2/97 CBR
9/00 GF-HONEYMOON
11/01 GF Concierge

 

[prncssjas]

PLEASE excuse my typos...my brain is working much faster than my fingers can type. LOL!

*** Biggest Aladdin Fan in the WORLD!!!***

12/79 Day Guest
7/84 Day Guest
7/88 Disneyland
7/95 Off Site
1996 Cast Member
2/97 CBR
9/00 GF-HONEYMOON
11/01 GF Concierge

 

[TriciaT]

By purchasing 200 points with a use year of October, that means that every October I get a new set of 200 points to be used that year or banked for the following. When I purchased I was immediately given the 200 points from October 2000 - Oct 2001. Since I am not going to Disney this year, I sold back 100 points from that time period. I now have 100 points remaining, which I will bank. I will also get an additional 200 points in October of this year. I am going to use the 100 points I have now on a quick getaway next year for my husband and I and will have 400 points available for our next trip next December.

Tricia

Always dreaming of Disney
CBR 8/96
AS Sports 11/98
AS Movies 3/00
WL 7/00

All future trips as a DVC member!

Hoping for....
GF 6/3-6/6/2002 for 10th anniversary
and
WLV 12/16-12/27/2002

 

[sixcats]

I understand what you are confused about! With Magical Beginnings you sell back 1/2 of your points for that year. You are getting the credit in return for Disney being able to rent out 1/2 of your points for that year only. Next year you have full points in your account. You have only lost one year's usage of 1/2 of your points.

Debbie

 

[prncssjas]

I SEE!!! The light bulb just went off! Thanks Tricia and Debbie for explaining. I think I understand now. PHEW! I was beginning to feel like I was in calculus class again (and clueless!) HA!

Okay...I see why this makes sense for you Tricia. You weren't planning on going this year so you could send back 100 pts for credit but those other ones you will save for next year. Correct??

It will eventually all make sense one day. I hope.

Rima

*** Biggest Aladdin Fan in the WORLD!!!***

12/79 Day Guest
7/84 Day Guest
7/88 Disneyland
7/95 Off Site
1996 Cast Member
2/97 CBR
9/00 GF-HONEYMOON
11/01 GF Concierge

 

[kem330]

Rima- you also asked about resale. We recently purchased through A Timeshare Broker and also talked to The Timeshare store (listed above). Both are very reputable. The reason to buy resale is if you want a sold out property such as BWV. The MOST important piece of advice you can get from the board is buy where you want to stay. Especially at BW it can be difficult to get into at peak times. First I think you need to decide where you want your ownership, then look at options. The advantage with Disney is they offer financing, you can sell back points (magical Beginnings), you can use a charge for purchase and you can make your reservations as soon as you make a deposit. However, if you purchase a resale, and it comes with all points available, you could rent those points yourself and make up for the MB program. You can usually get a home equity loan with a rate comparable to Disney's.Email me @ kem330@aol.com for more resale info.

 

[TriciaT]

That's right. I am dying to use the points, but unfortunately, the next time we will be able to go is in 2002. I have to say I am happy enough just knowing that we are DVC members and will be there for the next 41 years, even if we have to skip this one!

Tricia

Always dreaming of Disney
CBR 8/96
AS Sports 11/98
AS Movies 3/00
WL 7/00

All future trips as a DVC member!

Hoping for....
GF 6/3-6/6/2002 for 10th anniversary
and
WLV 12/16-12/27/2002

 

[GCM13]

Rima,
We just bought at VWL a couple weeks ago. We were considering MB, but decided against using it. Here is why....We were going to buy 200 points and we felt that the 100 points were worth a lot more than $10 a point or $1100. It didn't make sense to us to lose all of those points. We did not want to finance either, so what we did was only buy 150 points. Our use year is Oct. so we banked those 150 points and will get 150 more in Oct. We will then have enough points for a 1 BDR the week after Thanksgiving plus extra points for another trip in May in a studio. We plan to add on points around this time next year when we get our tax refund back. By doing it this way, we didn't have to come up with as much money, didn't have to finance, and we still have enough points for what we want to do. We definitely will need more points in the future, but this at least got us started. I guess my point of all this is that we feel that MB isn't worth it and it sounds like once they change it, it definitely won't be worth it.