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.

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.

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.

AllieV · 12-04-2012, 08:39 PM

About 6-7 or so years ago, we had a contract in our hand. At the time, Disney had more business than they could handle and didn't have to chase sales. Our "thank you" for taking the tour was an ice cream cone. No kidding. Our guide didn't even have paperwork ready even though I'd requested the tour and knew all about DVC. I had to call several times once we got home to get the contract sent to us. It took them about 2 months to send it.

Right when we got the contract in the mail (finally) and signed it, a real estate agent called to say that a house we saw 6 months earlier and loved was still available (a shocker at the time) and they'd dropped it by 40k and needed out since they'd moved already. It was more than we planned to spend, but it kept us near my MIL, who is widowed and doesn't drive. So we took the dvc money and put toward the extra down payment.

As a side, I was a bit suspicious at the time (though not enough to not sign) that something akin to a resale market existed. We really wanted Boardwalk, not SSR, and they kept saying it couldn't be had. When I asked what happened to the properties that got sold back, they said they kept them. Seemed odd.

Long story long . . . we found the resale market and saved up enough through the years to buy a cheap one.

I didn't technically cancel, and the sales person never called to follow up anyway. They were rolling in sales.

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.

Paula Sedley-Burke · 12-07-2012, 02:44 AM

Quote:

Originally Posted by xbrentx

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.

Great! We own at SSR and love it. We stay there most years. I hope you enjoy the DVC as much as we do!

dsanner106 · 12-10-2012, 03:00 PM

Though a bit nervous, I followed through on mine and have never regretted it. In fact I had reduced my original points and later, after we were comfortable with our decision, added on.

Drew

eMoneyBug · 12-11-2012, 01:14 PM

I went on a Disney Cruise in Oct 2011, didn't buy DVC. Bought Animal Kingdom on my Apr 2012 Disney Cruise for around $90 p/pt. Came home and cancelled. Then I targeted Animal Kingdom and Saratoga resales. Negotiated a 365pt SSR for $47 that came with 365 banked as well

, it was about my 5th offer on Fidelity before a buyer accepted. I'm happily an owner now that lives in CA. I have booked 2 nights in SSR for Dec, plus 1 night at Vero Beach, they are sandwiching a Florida Cruise in about a week. Then have a week at Aulani for first week of April, our Spring Break. 2 nights at Grand California during the Anaheim dental convention in April. Then we're heading back to WDW for 2 nights @Key West, 2 @Animal Kingdowm and 3 @Bay Lake for the 4th of July week. In a few weeks, I'll be booking my Thanksgiving week at SSR. Then in 3months, I'll see if we may split / change our stay at other DVC Resorts during that Turkey week.

So my point is, so far, getting more points at less cost has been wonderful for my plans. I'm very happy with my DVC decision.

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: 441	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: 6,993	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, 05:16 PM	#6
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!

12-02-2012, 05:05 PM	#5
mousefan1972 DIS Veteran Join Date: Nov 2008 Location: Massachusetts Posts: 2,107	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	#7
JimMIA "Smells like ca-ca in here!" Join Date: Feb 2005 Location: Miami, Wyndham Great Smoky Mountains, and EVER (Everglades National Park) Posts: 10,530	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.

12-02-2012, 06:46 PM	#8
Deb & Bill DVC-Trivia Contest, Apr-2006: Honorable Mention Join Date: Mar 2000 Location: USA Posts: 40,687	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.

12-04-2012, 08:39 PM	#9
AllieV DIS Veteran Join Date: Jul 2007 Location: the cold and smoggy northeast Posts: 841	About 6-7 or so years ago, we had a contract in our hand. At the time, Disney had more business than they could handle and didn't have to chase sales. Our "thank you" for taking the tour was an ice cream cone. No kidding. Our guide didn't even have paperwork ready even though I'd requested the tour and knew all about DVC. I had to call several times once we got home to get the contract sent to us. It took them about 2 months to send it. Right when we got the contract in the mail (finally) and signed it, a real estate agent called to say that a house we saw 6 months earlier and loved was still available (a shocker at the time) and they'd dropped it by 40k and needed out since they'd moved already. It was more than we planned to spend, but it kept us near my MIL, who is widowed and doesn't drive. So we took the dvc money and put toward the extra down payment. As a side, I was a bit suspicious at the time (though not enough to not sign) that something akin to a resale market existed. We really wanted Boardwalk, not SSR, and they kept saying it couldn't be had. When I asked what happened to the properties that got sold back, they said they kept them. Seemed odd. Long story long . . . we found the resale market and saved up enough through the years to buy a cheap one. I didn't technically cancel, and the sales person never called to follow up anyway. They were rolling in sales. __________________ ************************************************ ****

12-05-2012, 10:17 AM	#11
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	#12
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.

12-10-2012, 03:00 PM	#14
dsanner106 DIS Veteran Join Date: Apr 2003 Location: atlanta Posts: 1,082 Paid DVC Rent/Trade Gold Membership	Though a bit nervous, I followed through on mine and have never regretted it. In fact I had reduced my original points and later, after we were comfortable with our decision, added on. Drew __________________ 72 offsite '74 offsite, '01 Old Key West,'02 Wyndham '03 timeshare,'04 Pop Century '04 Coronado Springs '05 Offsite '06 All Star Sports 06 CoronadoSprings '07 Bonnett Creek 07 All Star Music '08 Pop Century '08 Boardwalk Villas '09 Beachclub Villas '09 Animal Kdom kidani village'10 Saratoga Sp, '11 Bay Lake Towers,' 12' Boardwalk, '12 AK Kidani

12-11-2012, 01:14 PM	#15
eMoneyBug Earning My Ears Join Date: May 2012 Posts: 9	I went on a Disney Cruise in Oct 2011, didn't buy DVC. Bought Animal Kingdom on my Apr 2012 Disney Cruise for around $90 p/pt. Came home and cancelled. Then I targeted Animal Kingdom and Saratoga resales. Negotiated a 365pt SSR for $47 that came with 365 banked as well , it was about my 5th offer on Fidelity before a buyer accepted. I'm happily an owner now that lives in CA. I have booked 2 nights in SSR for Dec, plus 1 night at Vero Beach, they are sandwiching a Florida Cruise in about a week. Then have a week at Aulani for first week of April, our Spring Break. 2 nights at Grand California during the Anaheim dental convention in April. Then we're heading back to WDW for 2 nights @Key West, 2 @Animal Kingdowm and 3 @Bay Lake for the 4th of July week. In a few weeks, I'll be booking my Thanksgiving week at SSR. Then in 3months, I'll see if we may split / change our stay at other DVC Resorts during that Turkey week. So my point is, so far, getting more points at less cost has been wonderful for my plans. I'm very happy with my DVC decision.

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