DVC RESALES
DVC RESALES

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Old 09-22-2013, 08:38 PM   #16
shellf0969
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Originally Posted by princessbunny View Post
Hi, I'm new to this board and would my family has been interested in getting a dvc membership but I don't have 24,000 and was wondering if anybody would know what the interest rates to get a loan through disney and what year loans they have? If anyone can help me with this it would greatly be appreciated.
I sat through a session with a DVC rep on Friday Sept 20, 2013. He was rude. He did not give us a tour. He assumed we were too poor or just not his type. Anyway, It was for the Animal Kingdom Villas and the price was 13,500. They financed and it was 20% down. Start with $500 down and the rest due in I think was like 3 months. They start you off with 100 points now and 100 in April 2014. Our payment each month would be around $150 to $225 a month for 10 years. In addition, annual dues.
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Old 09-23-2013, 09:37 AM   #17
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Princessbunny, we have all been there when buying a DVC contract was a super exciting concept. But understand what you are getting. You are essentially paying several thousand dollars to lock in a good rate on a hotel room for the next 30-50 years. And by doing so, locking yourself into vacationing where these hotel rooms exist (WDW, DL, etc). Only these hotel rooms have to be booked many, many months in advance. And at peak times, you won't be able to book certain locations outside your home resort at all.

There is no "club" in DVC, despite the spin of the timeshare sales people. It is fixing a rate on future hotel stays. Nothing less or more. Here I am superimposing your dues, plus a fraction of purchase price, versus cost of a cash room rental- but the analogy essentially holds.

So when I see that you are considering paying usurious interest rates to buy in, it is painful. Please think long and hard before you pay this level of interest for this product. Far better to save for a couple years and pay cash. Otherwise you are in essence throwing money away now (interest) in order to save money (DVC versus deluxe Disney hotel rates) in the future.

Also, the comparison of DVC versus a Disney deluxe doesn't always hold true- so know exactly what you are buying before you purchase. Many are very happy with the DVC timeshare accommodations. Some are not- see the many threads here for further details.

All this said, we love our DVC points that we paid for with cash. We will get great value from the product over the years. Just keep in mind that a resale market exists because other people didn't have that same outcome.
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Old 09-23-2013, 01:48 PM   #18
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Quote:
Originally Posted by shellf0969 View Post
I sat through a session with a DVC rep on Friday Sept 20, 2013. He was rude. He did not give us a tour. He assumed we were too poor or just not his type. Anyway, It was for the Animal Kingdom Villas and the price was 13,500. They financed and it was 20% down. Start with $500 down and the rest due in I think was like 3 months. They start you off with 100 points now and 100 in April 2014. Our payment each month would be around $150 to $225 a month for 10 years. In addition, annual dues.
Wow! That would be around $18,000 to $27,000 for those points. Plus member fees.
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Old 09-23-2013, 06:17 PM   #19
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Originally Posted by Msmithmd View Post
Princessbunny, we have all been there when buying a DVC contract was a super exciting concept. But understand what you are getting. You are essentially paying several thousand dollars to lock in a good rate on a hotel room for the next 30-50 years. And by doing so, locking yourself into vacationing where these hotel rooms exist (WDW, DL, etc). Only these hotel rooms have to be booked many, many months in advance. And at peak times, you won't be able to book certain locations outside your home resort at all.

There is no "club" in DVC, despite the spin of the timeshare sales people. It is fixing a rate on future hotel stays. Nothing less or more. Here I am superimposing your dues, plus a fraction of purchase price, versus cost of a cash room rental- but the analogy essentially holds.

So when I see that you are considering paying usurious interest rates to buy in, it is painful. Please think long and hard before you pay this level of interest for this product. Far better to save for a couple years and pay cash. Otherwise you are in essence throwing money away now (interest) in order to save money (DVC versus deluxe Disney hotel rates) in the future.

Also, the comparison of DVC versus a Disney deluxe doesn't always hold true- so know exactly what you are buying before you purchase. Many are very happy with the DVC timeshare accommodations. Some are not- see the many threads here for further details.

All this said, we love our DVC points that we paid for with cash. We will get great value from the product over the years. Just keep in mind that a resale market exists because other people didn't have that same outcome.
Nicely said!
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Old 09-23-2013, 10:15 PM   #20
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Quote:
Originally Posted by shellf0969 View Post
I sat through a session with a DVC rep on Friday Sept 20, 2013. He was rude. He did not give us a tour. He assumed we were too poor or just not his type. Anyway, It was for the Animal Kingdom Villas and the price was 13,500. They financed and it was 20% down. Start with $500 down and the rest due in I think was like 3 months. They start you off with 100 points now and 100 in April 2014. Our payment each month would be around $150 to $225 a month for 10 years. In addition, annual dues.
I would consider that rude guide to be a blessing in disguise. I'm guessing you can get a 100 pt AKV contract on the resale market for $8000 or so...maybe less, I have not been keeping up with what AKV contracts are selling for on the resale market, and I know it is a seller's market at the moment. There are some restrictions with resale that you should look into, but many don't consider the cost of direct to be worth it to eliminate those restrictions. Save for a couple of years so you can buy outright, or if you choose to finance at least it is a smaller amount and maybe a better rate.

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Old 09-24-2013, 05:31 AM   #21
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My AKL package resale was $11300 for 160 points, so I have 60 more points along with $2000 more in my pocket. We also paid cash so no interest fees.

Please make sure that you are super clear as to what you are buying into before purchasing something that you just cannot afford.
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Old 10-03-2013, 02:58 PM   #22
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Quote:
Originally Posted by princessbunny View Post
Hi, I'm new to this board and would my family has been interested in getting a dvc membership but I don't have 24,000 and was wondering if anybody would know what the interest rates to get a loan through disney and what year loans they have? If anyone can help me with this it would greatly be appreciated.
, my husband won't empty the coffers to pay cash for DVC so we financed. We only bought what we could afford to pay off in 5 years. We found we didn't need to purchase a ton of points right off plus YOU DON"T WANT TO because they're easier to sell if you keep to 100 and under pt contracts. So buy 100 pts (160 if you must) and set up a payment plan with YOURSELF (let disney do it's 10 year thing). If you stick with it, it will work. We're 5 years in now and just bought more (after all isn't that the american way
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Old 10-03-2013, 03:13 PM   #23
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Last Thought

Only buy if it really works for you. You'll see over and over again people saying we should've bought earlier. Maybe - if it works, for YOU.

We'd take the kids every other or every 3 years. Then DVC happened. Did I want to pay annual dues every year for a location I'd have to sit 3 kids on a bus every day to go somewhere, plus the years we wouldn't be going??? No & No - so we didn't buy.

We probably should've bought when they build WL but I could see College coming by that time and didn't want the expense. So for us, buying when we did was appropriate. Buying how we did suited the hubby. And we are presently points poor so we just stayed on cash at the Dolphin.

Make sure you don't over buy and if you do finance - stick to YOUR payment plan. If you've trouble doing that then your guide was right.
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Old 10-03-2013, 05:06 PM   #24
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Quote:
Originally Posted by princessbunny View Post
Hi, I'm new to this board and would my family has been interested in getting a dvc membership but I don't have 24,000 and was wondering if anybody would know what the interest rates to get a loan through disney and what year loans they have? If anyone can help me with this it would greatly be appreciated.
The advantage to buying from Disney over resale is lame. Basically you can book a cruise (for a huge amount of points) or RCI that has a bad exchange rate. I highly suggest going through resale. There are several that will help with financing. Disney's financing rates are out of control. If you think you would like to go to Disney (or Hawaii, Hilton Head, Vero Beach) once every two years...then buy dvc in resale. Buy what you can afford...and add on later.
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Old 10-03-2013, 06:39 PM   #25
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Only buy if it really works for you. You'll see over and over again people saying we should've bought earlier. Maybe - if it works, for YOU.

We'd take the kids every other or every 3 years. Then DVC happened. Did I want to pay annual dues every year for a location I'd have to sit 3 kids on a bus every day to go somewhere, plus the years we wouldn't be going??? No & No - so we didn't buy.

We probably should've bought when they build WL but I could see College coming by that time and didn't want the expense. So for us, buying when we did was appropriate. Buying how we did suited the hubby. And we are presently points poor so we just stayed on cash at the Dolphin.

Make sure you don't over buy and if you do finance - stick to YOUR payment plan. If you've trouble doing that then your guide was right.

My first opportunity to buy was on my honeymoon.

That marriage ended in divorce. That was expensive. Then between divorce and purchase we built a house, spent a small fortune on fertility treatments, adopted a child, and had a surprise baby. We also got notice that my husband's job was being eliminated (he got reorganized before it happened).

When we finally bought DVC we had cash in the bank, a stable marriage, two much more stable jobs that gave us a household income significant above when my first husband and I first looked. Even when my second husband and I took our first trip together. Enough that we could buy DVC, and still live comfortable, save for retirement, and fund college for our children.

Vacations should never be a burden or an obligation. There were many times before we bought that DVC would have been an unsupportable obligation - where we had more important things to do without money. Like adopting a child, or building our home, or getting through a potential layoff with a feeling of some security.
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Old 10-03-2013, 06:44 PM   #26
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Quote:
Originally Posted by princessbunny View Post
Hi, I'm new to this board and would my family has been interested in getting a dvc membership but I don't have 24,000 and was wondering if anybody would know what the interest rates to get a loan through disney and what year loans they have? If anyone can help me with this it would greatly be appreciated.
Best advise is to do your due diligence on what you can afford and what you need out of your vacation. A 1 bed room 2 bed room etc. I can tell you after searching you can get a lot for your buck on a resale look around for a week and study what's out there google timeshare resales look at prices and if you decide to go resale check out the company's ratings and complaints. We did sign up with the Grand Floridian but cancelled earlier this week and now we have an offer in on a resale put in today. Now we wait but if we get it, there will be many awesome vacations and now I won't have to worry about points, banking, borrowing and buying more saving etc. PS this board and members are very good at helping just ask....good luck
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Old 10-03-2013, 06:58 PM   #27
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Quote:
Originally Posted by Msmithmd View Post
Princessbunny, we have all been there when buying a DVC contract was a super exciting concept. But understand what you are getting. You are essentially paying several thousand dollars to lock in a good rate on a hotel room for the next 30-50 years. And by doing so, locking yourself into vacationing where these hotel rooms exist (WDW, DL, etc). Only these hotel rooms have to be booked many, many months in advance. And at peak times, you won't be able to book certain locations outside your home resort at all.

There is no "club" in DVC, despite the spin of the timeshare sales people. It is fixing a rate on future hotel stays. Nothing less or more. Here I am superimposing your dues, plus a fraction of purchase price, versus cost of a cash room rental- but the analogy essentially holds.

So when I see that you are considering paying usurious interest rates to buy in, it is painful. Please think long and hard before you pay this level of interest for this product. Far better to save for a couple years and pay cash. Otherwise you are in essence throwing money away now (interest) in order to save money (DVC versus deluxe Disney hotel rates) in the future.

Also, the comparison of DVC versus a Disney deluxe doesn't always hold true- so know exactly what you are buying before you purchase. Many are very happy with the DVC timeshare accommodations. Some are not- see the many threads here for further details.

All this said, we love our DVC points that we paid for with cash. We will get great value from the product over the years. Just keep in mind that a resale market exists because other people didn't have that same outcome.
This was incredibly well thought out. Excellent advice/post.

OP, please do not buy and take some time to think all of this over. If you cannot pay cash, you probably do not want this obligation. Paying interest on a timeshare is a little bit insane to me and there are far better (and cheaper) ways to do Disney with that money than paying interest on a DVC contract.

Get to a point where you can save up and have cash reserves to make a big purchase (and this is a MAJOR purchase) rather than have the "gotta have it now" mentality. I hope that doesn't come off as harsh because I truly know how you feel and the excitement of DVC is intense. But I also know that life brings so much at you and it's worth having a nice financial cushion for all those things in life. I don't think a luxury item like DVC is important enough if you don't have that cushion, but that is just my opinion. You could get some fantastic rates at fantastic nearby resorts if you just pay cash when you want to go and occasionally rent points to try it out.

Being an "owner" is actually a liability, not an asset since it is going to depreciate in value over time and has mandatory fees not income. Owners are happy to own because it gets us what is nothing more than prepaying a large amount upfront to get a discounted rate annually by virtue of your dues (whcih rise annually). It's a luxury item and not a necessity and thus, shouldn't be financed imho.

Save up, build a cushion, and then buy cash resale at a whole lot cheaper. Until then, rent DVC or stay off-property at lovely Hiltons, Hyatts, Wyndhams (some of which are on disney property) at a tiny fraction of the cost.
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Old 10-03-2013, 08:45 PM   #28
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I was about to post a similar thread to this one, so I'm glad this one was available. You all have posted some very interesting information and it has given me a lot to think about now. Thanks.
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Old 10-07-2013, 06:56 PM   #29
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Thank you everyone for your great advice. I think my husband and I will likely look into doing the resale thing next year. I absolutely love Disney and we have gone over the numbers so I'm keeping my fingers crossed for next year and then our daughter will be old enough to take her for her first time. Thank you again for all your replys.
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Old 10-10-2013, 10:16 PM   #30
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Originally Posted by GiantsNiners11

This was incredibly well thought out. Excellent advice/post.

OP, please do not buy and take some time to think all of this over. If you cannot pay cash, you probably do not want this obligation. Paying interest on a timeshare is a little bit insane to me and there are far better (and cheaper) ways to do Disney with that money than paying interest on a DVC contract.

Get to a point where you can save up and have cash reserves to make a big purchase (and this is a MAJOR purchase) rather than have the "gotta have it now" mentality. I hope that doesn't come off as harsh because I truly know how you feel and the excitement of DVC is intense. But I also know that life brings so much at you and it's worth having a nice financial cushion for all those things in life. I don't think a luxury item like DVC is important enough if you don't have that cushion, but that is just my opinion. You could get some fantastic rates at fantastic nearby resorts if you just pay cash when you want to go and occasionally rent points to try it out.

Being an "owner" is actually a liability, not an asset since it is going to depreciate in value over time and has mandatory fees not income. Owners are happy to own because it gets us what is nothing more than prepaying a large amount upfront to get a discounted rate annually by virtue of your dues (whcih rise annually). It's a luxury item and not a necessity and thus, shouldn't be financed imho.

Save up, build a cushion, and then buy cash resale at a whole lot cheaper. Until then, rent DVC or stay off-property at lovely Hiltons, Hyatts, Wyndhams (some of which are on disney property) at a tiny fraction of the cost.
I love the concept of dvc but I don't want to be burden with paying for it. My question is how do u rent or buy DVc points? We are going this Dec and was wondering how much it would cost to buy 200 points. Would love to stay at GF.
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