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Old 01-09-2013, 01:23 PM   #1
blackacex2
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Join Date: Jan 2011
Posts: 351

Lightbulb Making sense out of insanity (DVC purchase)

I love Disney, and I could see myself taking a trip there every year until infinity. I should be a perfect candidate for the DVC, I'm 27 and married 3 years in April. DVC should provide vacation for my wife and I and future children for decades to come.

160 points, purchased resale at Old Key West price $60 per point ~$10,000
maintenance fees per year ~ $850

I could rent 160 points from an owner at $11 per point and pay $1,760. DVC ownership saves me $910 ($1,760-$850 main fees) a year, but only after approx. 11 years have passed. If we use it until 2057, that nets a savings of close to $30,000. (33 years of only paying main. fees on 160 points).

Am I missing something here, or is it that good of a deal? Here's the main hang up I have, I don't have $10,000 to lay out. I'd have to borrow the money, and that adds to the cost. At 10% APR on $10,000, that's $132 a month for 10 years, making the purchase price more like $15,840 and making my projected savings to be about $24,000 once we reach the contract's end in 2057 saving us $545 a year vs renting points at $11 per point.

Is it worth laying out all that money and making that much of a commitment to save a maximum $545 a year for 44 years? (probably much less considering increases in maintenance fees)

Realistically, I don't think I'll be able to get a personal loan to pay $10,000 off over 10 years, so I'd have to buy direct from DVC at $16,000 for 160 OKW points in order to get financing. At that point it's $211 per month for 10 years making my DVC cost for the first 10 years $25,320 + 44 years of main. fees ($37,400).

That's $62,720 for 44 years of 160 points at current main. fees. That's $8.90 per point saving $2.10 per point vs renting at $11 per point. Over 44 years that saves $14,784 or $336 a year.

On one hand, over 44 years I will be saving money, not losing money- even with financing the purchase. On the other hand, it's a huge commitment and 44 years is an eternity. Not borrowing to purchase DVC would net me the max savings ($910 per year on average). Not sure if I'll be able to swing that though.

Do my numbers make sense? What do most of you project your cost per point to be over the life your DVC contract? Ever wish you could get out of it altogether and just rent points when you want?
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