DVC RESALES
DVC RESALES

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Old 04-03-2013, 07:51 AM   #16
DisneyDiana
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We have rented points, stayed at values, etc. and saved to buy our resale points with cash. It is well worth the small sacrifices to us. You can still go on your vacation just spend wisely and save for your points. It really does not take long if you are determined. Good luck!
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Old 04-03-2013, 08:25 AM   #17
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We were in the same position back in 2009..continue to pay cash prices or buy...at the time, we decided to buy a small resale contract we had the cash for and then just add on through Disney for a smaller contract.

At the time, the difference in resale vs direct was reasonable and made the decision to go through Disney easier. Even with financing, we realized we could own DVC for no more than we were currently paying to stay at the CR with a 30% discount. So we bought...we did end up not needing to finance because we used our Disney visa to get 6 months, no interest on the repurchase....

Now, with direct prices being so much higher than resale, I do think it makes this strategy a lot more costly, but we had decided then that giving up trips was not an option and as long as our yearly expenses werent more for DVC then those cash stays, then in the long run, it'd be worth it.

Good luck!
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Old 04-03-2013, 08:55 AM   #18
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Originally Posted by ELMC View Post
So your Use Year question was answered in the post above, so I'd like to stay on the purchase topic if that's ok with you. Given the information you have provided (thank you) I feel even stronger that you should look at the resale route. I feel very confident that you can get a 100 point AKV contract for $70 per point (inclusive of closing costs and maintenance fees). If you have $2,600 to put down right now, then you are pretty close to owning the contract outright. If you were to forgo one vacation and instead put that money towards the purchase price, you would most likely be all the way there. So that would leave you in 2014, owning your 100 point contract entirely with only maintenance fees going forward. Total purchase cost, $7,000.

Or...you can purchase now direct and finance. You would still have the maintenance fees, that doesn't change, but you would also have monthly payments. Your purchase price for that same 100 point contract would be $13,200 ($145 per point, minus $3pp discount and $1,000 developer's credit...not including closing costs of about $100 because I don't have an exact figure). Assuming 11% interest and 20% down, your monthly payment would be $145.46 and the total of those payments would be $17,455.68. Add to that your down payment and your total purchase cost for the same 100 points would be $20,095.68. That's nearly triple the cost. I know it's so tempting to just go for it because it's only $145 a month, but that's $145 a month that you could spend on anything else if you went the resale route in my first example.

I know it's a difficult decision, but it can also be a very expensive one. You're in a tough spot, but I think you know what I would advise you to do, if you were so inclined to ask.

PS If you were to rent 100 points for the next 10 years assuming a flat rental rate of $15 per point (which for the purpose of this example is intentionally high), your total amount spend would only be $15,000. Compare that to the $20,095.68 spent purchasing direct and another (estimated) $6,719 in maintenance fees. So while you say that you have nothing to show for your money when you rent, I would suggest that you have 10 years of vacations and more than $10,000 in savings to show for it.

OMG, this is so important it should be made into a sticky (the bolding is mine)

OP, is it really so critical that you own DVC right now that you're willing to pay something like $13K extra just to have it immediately?

I assume you're buying DVC because you want to save money on stays in villas. Are you sure you're still saving money when you add in the direct purchase costs and the high interest costs? Run the numbers and find out.

If the only way I could own was to buy direct and finance it....I wouldn't own. I'd rent. You get exactly the same vacation experience as a renter.

Since it's important to you to leave DVC to your kids, you may be thinking that that makes the $13,000 worthwhile. That's a lot of money to spend on a 'maybe'. Maybe DVC won't be the same in 20 years. Maybe WDW won't be the same. Maybe your kids won't be able to handle thousands of dollars in maintenance fees per year - remember, maintenance fees go up ever year. In 20 years, they're going to be WAY higher than they are now. Way.
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Old 04-04-2013, 01:02 PM   #19
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Thanks everyone for your input and comments...I have posted on another board and the majority seems to be split on what I should do. I agree I could rent for 10 years but paying 1500 to 2000 a year each year I could also have a direct contract paid for. We are sure that we can afford it starting small and adding points if needed later. Hubby and I talked and are leaning towards feeling more comfortable with a direct purchase. PP you state we don't know how it will be in 20 years but that is a risk with anything we buy. So why not have the flexibility of points in case.... My friend owns a timeshare in Aruba that she paid 17,000 for and it is a set week she must deposit in order to exchange elsewhere for 185$ each time.....I'd much rather have Disney for that !!! We haven't made our minds up and won't until we really sit down and review everything. If the payments are around or under 150. a month we actually could pay double that and save a ton on interest....so we feel confident and comfortable making monthly payments. I appreciate those who are commenting about saving money as I am usually very thrifty when I can be. Under normal circumstances I would be right there with all of you....I'm just not sure I'm comfortable in this situation. Thanks again to everyone and I will be considering all of the replies in our final decision!!
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Old 04-04-2013, 01:29 PM   #20
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Originally Posted by pauly's girl View Post
Thanks everyone for your input and comments...I have posted on another board and the majority seems to be split on what I should do. I agree I could rent for 10 years but paying 1500 to 2000 a year each year I could also have a direct contract paid for. We are sure that we can afford it starting small and adding points if needed later. Hubby and I talked and are leaning towards feeling more comfortable with a direct purchase. PP you state we don't know how it will be in 20 years but that is a risk with anything we buy. So why not have the flexibility of points in case.... My friend owns a timeshare in Aruba that she paid 17,000 for and it is a set week she must deposit in order to exchange elsewhere for 185$ each time.....I'd much rather have Disney for that !!! We haven't made our minds up and won't until we really sit down and review everything. If the payments are around or under 150. a month we actually could pay double that and save a ton on interest....so we feel confident and comfortable making monthly payments. I appreciate those who are commenting about saving money as I am usually very thrifty when I can be. Under normal circumstances I would be right there with all of you....I'm just not sure I'm comfortable in this situation. Thanks again to everyone and I will be considering all of the replies in our final decision!!
From reading your thoughtful replies it has become clear that you came on here asking for advice and you were actually receptive to advice that contradicted your planned course of action. That's very refreshing and happens less than you think, so thank you.

One last point of clarification about something you said above...

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Originally Posted by pauly's girl View Post
I agree I could rent for 10 years but paying 1500 to 2000 a year each year I could also have a direct contract paid for.
Your numbers here are a bit off, and they are definitely skewed to make the case for direct. You are looking at purchasing 100 points, so it is important to compare that to the rental of 100 points. So you can rent 100 points this year for $1,300. That is your out of pocket cost. If you were to purchase that contract and finance, it would cost you $2,567 this year ($2,000 principal and interest and $567 in maintenance fees). So the difference in cost is an extra $1267 this year if you purchase.

So the real question becomes how many years would it take for renting 100 points to become more expensive than purchasing 100 points. I think it's in your best interests to do the analysis yourself so that you gain a true understanding of the numbers and how they work. But I'll give you a hint, renting has a positive outcome for the first 16-20 years depending on how fast rental rates and maintenance fees increase.

The one thing we haven't talked about is joy of ownership, which seems to mean a lot to people. Just know that if you do go ahead with the direct/financed purchase, that's where you're going to get your value, because it certainly isn't in the numbers. Good luck with whatever you decide.
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Old 04-04-2013, 02:34 PM   #21
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I was definitely looking for opinions each way and everyone's experience!! With your figures this year for me will actually almost break even, only because I would be offered the free tickets and it would only cost me $160 to add the rest of our days. I am paying $1100. to stay at POP plus $for tix that money would be my down payment. Next year I will have 2013 and 2014 points to use which I will most likely get a bigger room for my brother and his family to stay, ask him to purchase our tickets In exchange for not having to pay for a room and come out the same next year!! We hope between paying extra and two tax returns that we should be pretty close to paying it off sometime in the 3rd year. I can't say this is what will happen but it sounds like the best plan we can concoct if we choose to go that way...lol Thanks on the well wishes and for all your figures and feedback!!
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Old 04-04-2013, 03:25 PM   #22
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Originally Posted by pauly's girl View Post
Thanks everyone for your input and comments...I have posted on another board and the majority seems to be split on what I should do. I agree I could rent for 10 years but paying 1500 to 2000 a year each year I could also have a direct contract paid for. We are sure that we can afford it starting small and adding points if needed later. Hubby and I talked and are leaning towards feeling more comfortable with a direct purchase. PP you state we don't know how it will be in 20 years but that is a risk with anything we buy. So why not have the flexibility of points in case.... My friend owns a timeshare in Aruba that she paid 17,000 for and it is a set week she must deposit in order to exchange elsewhere for 185$ each time.....I'd much rather have Disney for that !!! We haven't made our minds up and won't until we really sit down and review everything. If the payments are around or under 150. a month we actually could pay double that and save a ton on interest....so we feel confident and comfortable making monthly payments. I appreciate those who are commenting about saving money as I am usually very thrifty when I can be. Under normal circumstances I would be right there with all of you....I'm just not sure I'm comfortable in this situation. Thanks again to everyone and I will be considering all of the replies in our final decision!!
I totally get what you are saying. We listened to a timeshare talk on our very first trip with kids to Disney almost 18 years ago. It was a property that is off site. We really wanted to buy but decided we didn't know if we could afford it, and we really thought it might be a one time trip for us. Boy were we wrong! We have gone at least once every year since then and many times twice. We've also now done 8 Disney cruises with two more booked. My point is, we wish we would have purchased almost 18 years ago but with Disney. By this time, our purchase would have paid for itself and then some, and we'd have many more years to enjoy our DVC.

After that first trip, I started a separate savings account just for vacations. I've had no trouble paying cash for all of our vacations by doing this for 18 years. I just wish I had used that money to buy in to DVC a long time ago even if it did mean I had to have a monthly payment. We ended up vacationing regularly anyway, and I feel like it would have saved us money over the years. Afterall, I was already making a monthly payment to my vacation savings account anyway.

Like you, when we did decide to buy, I also wanted to buy direct. I know I've spent way more money than I would have if I had bought resale, but I like the comfort of knowing that although Disney can change the rules for anyone at any time, I felt like the direct purchases would be the safest route. Plus, we will use our points for cruises. GASP! I know--another thing people don't always agree with. However, we bought our points to use for our vacations, so I don't care how many points it takes as long as it gets us where we want to go. (And, as long as I'm not borrowing from the next year--don't want to get that cycle started!)

I totally understand why people have such strong feelings about buying resale, but I think each person has to make their own decision and do what is best for them or what they feel comfortable with. I don't look at what I could have saved with resale. I look at how much enjoyment my DH and I get with our kids and our extended family as a result of our DVC purchase. Good luck with your decision.

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Old 04-04-2013, 03:56 PM   #23
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Thanks so much !!!! I agree it has to be an individual decision....just wanted some feedback from others to help us!!! I am looking forward to many years of vacationing also. We thought when we went 10 years ago it would be years before we went back. We do our best to go every other year because we loved it so much! I will let everyone know what our final decision is....stay tuned...lol!!!
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Old 04-04-2013, 09:11 PM   #24
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DH and I purchased 210 at AKL in 2009. With that many points and a referral from another DVC member (promotion at that time) our points direct were $93. It was kinda difficult as I was planning on the cost to find that info. So I have given this info out before.

We purchased direct financing for 10 years at 10.75% interest, Disney's preferred rate at the time. Our monthly notes for that many points is $237 and our monthly MFs are $80 (about $1100 if paid at once). We will have our seventh DVC trip in November. My parents, MIL, BIL have all come along on some of the trips, which has been awesome.

When people say that DVC is a luxury purchase and too expensive to buy direct....I think....yeah and flood insurance wasn't needed when we bought our house...but it was so cheap we bought it in 1998....people laughed...until Katrina. Our Home owners paid NOTHING because it was ALL flood damage...flood insurance gave us $140,000 to rebuild our house. A loss like that without flood insurance would have been devastating and to many it was...we were simply lucky.

While DVC may be expensive not having flood insurance would have been much worse for us. So in everyone's case the need or want is different.

You know your financial situation better than anyone...and your travel habits

With the above monthly note we have enjoyed every second with DVC. It has completely changed the way we visit Disney. We are more apt to stay around the resort now or at least do not mind returning. It is a more relaxing visit. We buy few souvenirs but do purchase APs that we try to get two trips a year at least on.... so add to your cost those hidden perks or negatives. So while Disney trips are more expensive now than staying value, we do enjoy them more.
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Old 04-04-2013, 09:26 PM   #25
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DH and I purchased 210 at AKL in 2009. With that many points and a referral from another DVC member (promotion at that time) our points direct were $93. It was kinda difficult as I was planning on the cost to find that info. So I have given this info out before.

We purchased direct financing for 10 years at 10.75% interest, Disney's preferred rate at the time. Our monthly notes for that many points is $237 and our monthly MFs are $80 (about $1100 if paid at once). We will have our seventh DVC trip in November. My parents, MIL, BIL have all come along on some of the trips, which has been awesome.

When people say that DVC is a luxury purchase and too expensive to buy direct....I think....yeah and flood insurance wasn't needed when we bought our house...but it was so cheap we bought it in 1998....people laughed...until Katrina. Our Home owners paid NOTHING because it was ALL flood damage...flood insurance gave us $140,000 to rebuild our house. A loss like that without flood insurance would have been devastating and to many it was...we were simply lucky.

While DVC may be expensive not having flood insurance would have been much worse for us. So in everyone's case the need or want is different.

You know your financial situation better than anyone...and your travel habits

With the above monthly note we have enjoyed every second with DVC. It has completely changed the way we visit Disney. We are more apt to stay around the resort now or at least do not mind returning. It is a more relaxing visit. We buy few souvenirs but do purchase APs that we try to get two trips a year at least on.... so add to your cost those hidden perks or negatives. So while Disney trips are more expensive now than staying value, we do enjoy them more.
I have to say that you completely lost me with the whole flood insurance analogy. I don't really see the connection there.

Regardless, I was wondering. $93pp for a brand new resort that isn't available on the resale market is a pretty good deal. Would you do the same thing now, in today's market, and purchase AKV direct at $145 a point when it is easily available on the resale market for $60 per point?
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Old 04-05-2013, 06:56 AM   #26
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DH and I purchased 210 at AKL in 2009. With that many points and a referral from another DVC member (promotion at that time) our points direct were $93. It was kinda difficult as I was planning on the cost to find that info. So I have given this info out before.

We purchased direct financing for 10 years at 10.75% interest, Disney's preferred rate at the time. Our monthly notes for that many points is $237 and our monthly MFs are $80 (about $1100 if paid at once). We will have our seventh DVC trip in November. My parents, MIL, BIL have all come along on some of the trips, which has been awesome.

When people say that DVC is a luxury purchase and too expensive to buy direct....I think....yeah and flood insurance wasn't needed when we bought our house...but it was so cheap we bought it in 1998....people laughed...until Katrina. Our Home owners paid NOTHING because it was ALL flood damage...flood insurance gave us $140,000 to rebuild our house. A loss like that without flood insurance would have been devastating and to many it was...we were simply lucky.

While DVC may be expensive not having flood insurance would have been much worse for us. So in everyone's case the need or want is different.

You know your financial situation better than anyone...and your travel habits

With the above monthly note we have enjoyed every second with DVC. It has completely changed the way we visit Disney. We are more apt to stay around the resort now or at least do not mind returning. It is a more relaxing visit. We buy few souvenirs but do purchase APs that we try to get two trips a year at least on.... so add to your cost those hidden perks or negatives. So while Disney trips are more expensive now than staying value, we do enjoy them more.
If your point is don't be penny wise and pound foolish, I agree but don't see how that applies to DVC, esp to retail. There are a few situations where it is reasonable to consider retail given the current situations of each. These would include small purchases and a resort that's in demand and not available resale. It would not include gaining the developer options not available resale or in order to finance and would not generally include the ability to get the next trip covered when it's too short notice to do so resale. I get that some can't seem to delay gratification even if they can't afford something but I see that as an admission of a problem, not even as an excuse to overextend themselves much less a valid reason to do so. To me it's simply a poor choice to finance vacations or luxury purchases, that makes financing DVC a double Whammy.
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Old 04-05-2013, 07:17 AM   #27
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Quote:
Originally Posted by ToddyLu View Post
DH and I purchased 210 at AKL in 2009. With that many points and a referral from another DVC member (promotion at that time) our points direct were $93. It was kinda difficult as I was planning on the cost to find that info. So I have given this info out before.

We purchased direct financing for 10 years at 10.75% interest, Disney's preferred rate at the time. Our monthly notes for that many points is $237 and our monthly MFs are $80 (about $1100 if paid at once). We will have our seventh DVC trip in November. My parents, MIL, BIL have all come along on some of the trips, which has been awesome.

When people say that DVC is a luxury purchase and too expensive to buy direct....I think....yeah and flood insurance wasn't needed when we bought our house...but it was so cheap we bought it in 1998....people laughed...until Katrina. Our Home owners paid NOTHING because it was ALL flood damage...flood insurance gave us $140,000 to rebuild our house. A loss like that without flood insurance would have been devastating and to many it was...we were simply lucky.

While DVC may be expensive not having flood insurance would have been much worse for us. So in everyone's case the need or want is different.

You know your financial situation better than anyone...and your travel habits

With the above monthly note we have enjoyed every second with DVC. It has completely changed the way we visit Disney. We are more apt to stay around the resort now or at least do not mind returning. It is a more relaxing visit. We buy few souvenirs but do purchase APs that we try to get two trips a year at least on.... so add to your cost those hidden perks or negatives. So while Disney trips are more expensive now than staying value, we do enjoy them more.
First, I understand how it feels to have your home flooded. We live on an island across from the bay. I'm glad you recovered from Katrina. We lost the first floor of our home this fall to Sandy. This is why I am confused about your comparison with DVC and flood insurance. I see flood insurance as an absolute necessity not a luxury. My home is the biggest investment/purchase I'll ever make. Not to have it insured for flood would be incredibly stupid and irresponsible. The same could not be said for not having DVC. There would be no life altering expenses or catastrophes without Dvc.
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Old 04-05-2013, 09:27 PM   #28
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I haven't read this whole post, but you can fjnance a resale purchase! We bought 160 SSR points through Fidelity and financed through Timesharelending.com. The approval process was kind of a headache but we got it done.

Also, we bought a purchase with a ton of banked points that we rented out for almost $3,000. We turned around and paid off a huge portion of our loan and now well be paid of by the end of this year. Well have it done in 18 months as compared the 5 years the term of the loan is for. Doing it this way we got resale prices AND only paid about $1500 in interest. Definitely something to think about!

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Old 04-05-2013, 11:05 PM   #29
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I haven't read this whole post, but you can fjnance a resale purchase! We bought 160 SSR points through Fidelity and financed through Timesharelending.com. The approval process was kind of a headache but we got it done.

Also, we bought a purchase with a ton of banked points that we rented out for almost $3,000. We turned around and paid off a huge portion of our loan and now well be paid of by the end of this year. Well have it done in 18 months as compared the 5 years the term of the loan is for. Doing it this way we got resale prices AND only paid about $1500 in interest. Definitely something to think about!

Feel free to send me a PM if you want more specifics
This is a very good point. I think we could all benefit from learning a little more about financing resale, so whatever information you can share (without getting into specifics) would be helpful and appreciated.
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Old 04-06-2013, 04:04 AM   #30
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This is a very good point. I think we could all benefit from learning a little more about financing resale, so whatever information you can share (without getting into specifics) would be helpful and appreciated.
We needed just a couple thousand for our purchase, and I just took out a signature loan from my credit union. We don't have any other debt but our house so we'll have this paid off in just a few months and the rate was better than any of the timeshare financing options I've heard of with the possible exception of a home equity loan.

I wasn't too keen on borrowing anything for a timeshare purchase, but I "got the fever" and decided to go ahead and buy about 4-5 months before I had enough saved. It wasn't a big loan though so it didn't bother me too bad.

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