Where is the best place to buy points-Disney or resale??

[Disneyfun1]

We have toyed many times over the years to join, and even signed the papers last year and backed out at the last moment due to not wanting an extra payment, but once again i am debating on joining so we have points to use for our sept 03 trip. Should we consider joining via disney directly or thru resale?? do you need perfect credit to go resale?? Disney approved us through them with our credit whoa's with 30% down and pay it in 5 years, but that was last year and we are in better shape in anything now than we were. Should we join, or just continue to rent points as we have in the past??

 

[WDWguru]

What you need to decide first and foremost is where you'd want to stay most often. No matter what the guides tell you, the 11-month window is critical for many times of the year and certain room types. Buy where you want to stay - that's the cardinal rule of DVC.

If that's BCV, you don't have much choice but to buy through Disney direct. There are a few resales on the market, but not many and not much cheaper than Disney. If it's BWV, OKW or VWL, you have to go resale. We've purchased three contracts - one from Disney and two resale. You'll definitely save money going resale but you'll have less control over points and use year. However, you may get banked points in a contract. Get on the various resale agents' mailing lists. Let them know what you're looking for (property and point range, use year if you have a preference). Many excellent resales don't even hit the public listings.

As for financing a resale, there's only really one company that does it - Tammac - and the interest rates are pretty steep. You'd be better of using an equity loan if you own a home as the rates for that would be much less.

I'm sure others will pop in with things I've forgotten, but hope this helps.

 

[Dean]

There are precious few financing options resale. If you can do a home equity loan, you will be better off. Some have juggled no interest rate credit cards. I'm only aware of one company that will finance a timeshare purchase resale. I think if you need to finance, you may want to go through DVC directly. Of course if you can use the funds you would have paid for your 2003 trip and go resale, you will have far less to finance.

 

[Disneyfun1]

We always go in sept., and the crowds are next to nothing then. We usually have no problem getting a room when we go. WE like to stay at the BWV 1 bedrooms, and then we usually switch to the WL and pay cash for the room in the lodge, but if we buy dvc, we may or may not have to do that anymore. We usually go about 10-11 nights now, so we may need quite a bit of points, or just use what we have and pay cash for the fri-sat nights at another place. Switching is fun to us and doesnt really bother us. I would rather use the less points during the week and not the double amount on fri-sat.

 

[4greatboys]

We went with resale because even with the closing cost we still saved $15-17 pp. We went with OKW since we have a large family and they require lower points than the other resorts. We dont plan on selling our points but if something came up and we had to I feel we would atleast break even.

 

[Happy Birthday Cat]

Disneyfun1:

I just wanted to say hi and wish you luck if you decide to purchase. With the amount of time you go, you should purchase some points of your own.

A good thing about purchasing from Disney is that if you keep up with the payments, they don't report to the credit agencies. Which means if you had some past problems, your credit report won't contain the Disney information, which could help you by not having a large debt on your report.

HBC

 

[vbfamily]

Are you serious about the Disney DVC debt not going on your credit report? This is one of the reasons we cancelled our contract last week! We bought a car and knew we wanted to add on to our house and didn't think we could get away with so much on our credit report.

We told our guide this was our reason and he never said anything to change our minds-had he given us this info things would be different.

Please let me know

 

[Happy Birthday Cat]

VB Family:

That is what I was told a couple of years ago. I can't say that I have looked at my credit report to confirm this however.
You should call them and ask that question to confirm.

HBC

 

[vbfamily]

HBC

This may sound strange, but we look over a current copy of our credit report at least twice a year to make sure all info is accuraten and no fraud is taking place.

I probably won't call to confirm-just wish our guide would have said something-we wouldn't have cancelled.

I also did a search on this subject. Thanks for the info.

 

[Disneyfun1]

I do remember our guide Jenna telling us that they do not report on the credit report. They just do an inquiry in the beginnning, but then they dont report it as long as your not late.