cancelling dvc within 10 days..... why did you decide to? - The DIS Discussion Forums

monica9 · 12-02-2012, 12:05 PM

Contemplating cancelling our DVC. Why did you choose to or if you thought about it and decided not to, why?

dvcterry · 12-02-2012, 12:21 PM

Is there a particular reason you are not proceeding (you should ask yourself if it's financial, don't understand DVC, or don't travel every year/other year?)

Yes, it is a financial commitment. The money you pay upfront plus the yearly maintenance fees. The airfare, travel expenses, park tickets, food will add up.

No, we did not cancel. We've been owners for over 10 years and are very happy with DVC. That's not to say DVC is for everyone.

ethanash1 · 12-02-2012, 12:30 PM

We also got cold feet..... But we did not cancel. For me it was wondering if the financial aspect was a fit for us, based in our vacation history. I'm glad we didn't cancel. We would never be able to vacation the way we do if not for DVC. Only you can decide what's best, so good luck in your choice. If you keep it, I'm sure you'll love it as much as we do!

KAT4DISNEY · 12-02-2012, 01:52 PM

If it is a direct contract there seem to be a couple of consistent reasons why people cancel.

1 - They got caught up in the pixie dust of the moment and now realize that it's a large financial commitment as well as an ongoing commitment to visiting Disney every year or every other year that they may not want to have.

2 - They got home, did some research, and discovered they could save thousands of dollars on resale.

mousefan1972 · 12-02-2012, 05:05 PM

We got cold feet in the day or 2 after we signed our contract, but did not cancel. I'm so glad we didn't... we love our DVC.

JimMIA · 12-02-2012, 05:25 PM

The recision period is Florida law to protect consumers in any real estate transaction. With ANY transaction of this size, ANY product, ANY seller, my advice to anyone who has even the slightest doubt would be to rescind.

If you rescind, you can take your time, do more research, think it over, etc, etc. until you feel sure of what you are doing -- one way or the other. If you decide timeshares are for you, and DVC meets your needs, you'll be much more comfortable and you can re-purchase. If not, you'll know you made the right choice.

If you hesitate, you may find yourself locked into a 30-50 year financial committment for a product you don't really understand, and which may not be the best vacation alternative for your family.

Deb & Bill · 12-02-2012, 06:46 PM

And if you choose to sell it sooner rather than later (plus if you finance), you are not going to get the price you paid for it. Plus you'll pay the real estate company their 10% fee to sell it for you. So, not only did you have to sell it, you had to pay to sell it.

GOOFY D · 12-04-2012, 10:08 PM

Quote:

Originally Posted by KAT4DISNEY

2 - They got home, did some research, and discovered they could save thousands of dollars on resale.

Ding! Ding! That was me!

RJPoste · 12-05-2012, 10:17 AM

We went the direct route, bought and have note really looked back.

5 years ago, we moved to Bangkok, Thailand, so don't get to use it as often as we would like. However, we use the points through RCI and other Disney Resorts or sell or rent them.

I know this does not really talk to your original thought, but the point is you can use the points in very many ways. However, and this came directly from our slaesman at DVC, if you are more of a Red Roof Inn type of vacationer and don't got to the Disney alot, it is not worth it.

Hope this helps.

xbrentx · 12-06-2012, 12:52 PM

We were setup for 160 points at Bay Lake, financed at our local bank since the rate was less. We ended up cancelling it before the 10 days was over due to the overall cost of financing as it would have been thousands more than we paid.

We were not aware of resale at the time, a year goes by and I started looking online and discovered resale.

We are now in the final days of closing on 240 points at SSR. We are extemely happy with the fact that we cancelled the original purchase because now we have more points per year, and it cost us half the price.

We're not interested in cruises or adventures and will be happy to be able to visit WDW every year in a deluxe resort.

CaptDadSparrow · 12-02-2012, 05:16 PM

We are still with in our ten 10 window but don't anticipate canceling. This may be because we are pulling the money from a retirement account that we haven't done much with and hasn't grown much beyond the price of buying outright. I'll certainly call fidelity or the timeshare group with the ad on this site and see what they can do for us. However we will probably still buy direct because buying resale isn't with out problems too. Many resale contacts I see don't have full point availability for up to two years because the seller had just used banked and borrowed points. Add to that the drama that can ensure by sellers backing out. I don't want to spend months getting rejections. We just got off the Disney dream and already have begun planing to go back on dvc points for the Halloween party. I'd hate to make ressies only to have the headaches of buying resale.

That being said, I'm confident we'll be adding point via resale.

k3chantal · 12-12-2012, 10:08 PM

Quote:

Originally Posted by monica9

Contemplating cancelling our DVC. Why did you choose to or if you thought about it and decided not to, why?

We went through the DVC tour basically for the ice cream and Disney gift cards. Then, we went home and sat on the idea for an entire year.

At the point of the transaction, we had cash for our desired amount of direct points (280 AKL).

No regrets at all. We do not splurge much on the adults in our family and we did not consider this something we were doing for the kids. It was a promise to ourselves that we would 'force' ourselves to take great vacations. It has worked out wonderfully because now we do take vacations and have a higher standard than what we had before.

However, we had no idea that there was a resale market. I not sure, even now though, I would buy resale because I don't like having restrictions. We like to use our points in different ways and have found it to be a good way for us to use our timeshare.

I will only 'regret' buying DVC if they change 'essentially' how DVC works now. I like that I can go to any DVC resort as long as I can make a reservation at the 7 month mark. It will severely lessen my love if this ever happens.

12-02-2012, 12:05 PM	#1
monica9 Mouseketeer Join Date: May 2011 Posts: 369	cancelling dvc within 10 days..... why did you decide to? Contemplating cancelling our DVC. Why did you choose to or if you thought about it and decided not to, why? __________________ Disney as a child: '82 CR,'84, CR,'85 CR,'87 CR,'88 CR,'89 CR....Disney as an adult: '03 off property, '04 off property, '10 1 day off cruise, '11 CBR (DD first trip!), [COLOR="SeaGreen"] 2012 WL, 2013 September 22 Disney Dream and 3 nights WDW DH(38) Me(32) DD(4)

12-02-2012, 12:21 PM	#2
dvcterry DIS Veteran Join Date: Jul 2010 Location: CT Posts: 1,633	Is there a particular reason you are not proceeding (you should ask yourself if it's financial, don't understand DVC, or don't travel every year/other year?) Yes, it is a financial commitment. The money you pay upfront plus the yearly maintenance fees. The airfare, travel expenses, park tickets, food will add up. No, we did not cancel. We've been owners for over 10 years and are very happy with DVC. That's not to say DVC is for everyone. __________________ Terry

12-02-2012, 12:30 PM	#3
ethanash1 A little bit of Pixie Dust can fix almost anything...... Join Date: Jan 2009 Location: Chula Vista, CA Posts: 446	We also got cold feet..... But we did not cancel. For me it was wondering if the financial aspect was a fit for us, based in our vacation history. I'm glad we didn't cancel. We would never be able to vacation the way we do if not for DVC. Only you can decide what's best, so good luck in your choice. If you keep it, I'm sure you'll love it as much as we do! __________________ Port Orleans French Quarter March 2009Disney Magic Western Caribbean March 2010 Disneyland VGC June 2010Disneyland VGC Sept 2010 Disney Wonder Mexican Riviera March 2011 Walt Disney World / Disney Fantasy Eastern Caribbean October 2012Aulani Resort June 2013 Disney Magic Double Dip October 2013

12-02-2012, 01:52 PM	#4
KAT4DISNEY Glad to be a test subject 1st trip Disneyland 1969 1st Trip DisneyWorld 1972 Only trip Disneyland Paris 2002 Join Date: Mar 2008 Location: Nevada Posts: 7,112	If it is a direct contract there seem to be a couple of consistent reasons why people cancel. 1 - They got caught up in the pixie dust of the moment and now realize that it's a large financial commitment as well as an ongoing commitment to visiting Disney every year or every other year that they may not want to have. 2 - They got home, did some research, and discovered they could save thousands of dollars on resale. __________________ Kathy

12-02-2012, 06:46 PM	#7
Deb & Bill DVC-Trivia Contest, Apr-2006: Honorable Mention Join Date: Mar 2000 Location: USA Posts: 40,924	And if you choose to sell it sooner rather than later (plus if you finance), you are not going to get the price you paid for it. Plus you'll pay the real estate company their 10% fee to sell it for you. So, not only did you have to sell it, you had to pay to sell it. __________________ Deb - DVC Member since '97 OKW and VWL Homes Stop the madness. No more DVC construction. Bring back Vacation Magic. Dump Disney Files! Stopped drinking the Kool-aid long ago.

12-02-2012, 05:05 PM	#5
mousefan1972 DIS Veteran Join Date: Nov 2008 Location: Massachusetts Posts: 2,116	We got cold feet in the day or 2 after we signed our contract, but did not cancel. I'm so glad we didn't... we love our DVC.

12-02-2012, 05:25 PM	#6
JimMIA "Smells like ca-ca in here!" Join Date: Feb 2005 Location: Miami, Wyndham Great Smoky Mountains, and EVER (Everglades National Park) Posts: 10,643	The recision period is Florida law to protect consumers in any real estate transaction. With ANY transaction of this size, ANY product, ANY seller, my advice to anyone who has even the slightest doubt would be to *rescind*. If you rescind, you can take your time, do more research, think it over, etc, etc. until you feel sure of what you are doing -- one way or the other. If you decide timeshares are for you, and DVC meets your needs, you'll be much more comfortable and you can re-purchase. If not, you'll know you made the right choice. If you hesitate, you may find yourself locked into a 30-50 year financial committment for a product you don't really understand, and which may not be the best vacation alternative for your family.

12-05-2012, 10:17 AM	#9
RJPoste Earning My Ears Join Date: Apr 2012 Location: Bangkok, Thailand / Boston Posts: 25 Paid DVC Rent/Trade Gold Membership	We went the direct route, bought and have note really looked back. 5 years ago, we moved to Bangkok, Thailand, so don't get to use it as often as we would like. However, we use the points through RCI and other Disney Resorts or sell or rent them. I know this does not really talk to your original thought, but the point is you can use the points in very many ways. However, and this came directly from our slaesman at DVC, if you are more of a Red Roof Inn type of vacationer and don't got to the Disney alot, it is not worth it. Hope this helps.

12-06-2012, 12:52 PM	#10
xbrentx Earning My Ears Join Date: Feb 2011 Posts: 11	We were setup for 160 points at Bay Lake, financed at our local bank since the rate was less. We ended up cancelling it before the 10 days was over due to the overall cost of financing as it would have been thousands more than we paid. We were not aware of resale at the time, a year goes by and I started looking online and discovered resale. We are now in the final days of closing on 240 points at SSR. We are extemely happy with the fact that we cancelled the original purchase because now we have more points per year, and it cost us half the price. We're not interested in cruises or adventures and will be happy to be able to visit WDW every year in a deluxe resort.

12-02-2012, 05:16 PM	#11
CaptDadSparrow Mouseketeer Join Date: Mar 2010 Location: Charlotte NC Posts: 79	We are still with in our ten 10 window but don't anticipate canceling. This may be because we are pulling the money from a retirement account that we haven't done much with and hasn't grown much beyond the price of buying outright. I'll certainly call fidelity or the timeshare group with the ad on this site and see what they can do for us. However we will probably still buy direct because buying resale isn't with out problems too. Many resale contacts I see don't have full point availability for up to two years because the seller had just used banked and borrowed points. Add to that the drama that can ensure by sellers backing out. I don't want to spend months getting rejections. We just got off the Disney dream and already have begun planing to go back on dvc points for the Halloween party. I'd hate to make ressies only to have the headaches of buying resale. That being said, I'm confident we'll be adding point via resale. __________________ Mild mannered dad by day. Fearless Adventurer & Story Teller by nights & weekends for the greatest kids in the Wide World of Disney!

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