Is DVC a "Good Deal" for Dave Ramsey Fans??

[MrsPete]

1. Would DR approve?
IMO - if you achieved debt-free status and you have the money - to be blunt - who cares if he would approve? I love DR and his plan but asking this is like asking if your coach approves of the technique you used to win the Gold Medal. Who cares - you won!

I agree. Dave Ramsey's ideas are wonderful, and for the person who is clueless about all things financial, they may be a life saver. A person who doesn't know where to begin would be wise to simply adopt his methods and follow them blindly -- until that individual picks up the skills and experience to make good financial decisions on his own.

But for those of us who are in good shape financially -- and the OP is clearly one of these people -- it makes more sense to see him as a guide. We can accept one portion of his advice and realizing that another portion of it isn't quite right for our own lives -- or while thinking that Suze Ormond or Mary Hunt is more sensible in another arena.

So if you're financially stable, have money in the bank, and can genuinely afford it, consider whatever luxury appeals to you. Personally, I'd be much quicker to buy a timeshare than a boat any day!

I don't know about DR but I think DVC is not necessarily a good deal for anyone who is happy with AS resorts accommodation or for bargain hunters . . . But we go to Disney to relax now . . . I want a relaxing vacation, which is what DVC allows me to do.

And that's why we'll never own DVC -- I'll take the other side of that argument.

Don't get me wrong, we love a relaxing vacation, BUT they can be had so much less expensively elsewhere: An oceanfront condo, a lakeside cabin, a cruise. Many of these resorts are more luxurious and offer more amenities.

When we go to Disney, we go for the parks and we stay busy -- we want to make the most of our expensive tickets! So at Disney a room is just a room. I don't want to pay $$$$$ for a kitchen that'll never be used and larger accomodations that we'll only see when we come in to shower and sleep.

It doesn't have to be that expensive either.

For me, it's not the cost so much as whether it's a good value.

For example, a soda from the machine at my office only costs .65 -- less than a dollar. Sure, I can afford that. BUT I can buy a 12-pack at the grocery store for $3 and put them in the refrigerator at work. So although .65 is a very low price, it's not a very good value -- not when I can have the same product for less than half that cost.

The question with DVC (or another timeshare) is, Is this the best way I could spend my vacation dollar? How does it stack up to my other options? Is this a good value for my money?

 

[cseca]

...
Don't get me wrong, we love a relaxing vacation, BUT they can be had so much less expensively elsewhere: An oceanfront condo, a lakeside cabin, a cruise. Many of these resorts are more luxurious and offer more amenities.

When we go to Disney, we go for the parks and we stay busy -- we want to make the most of our expensive tickets! So at Disney a room is just a room. I don't want to pay $$$$$ for a kitchen that'll never be used and larger accomodations that we'll only see when we come in to shower and sleep. For me, it's not the cost so much as whether it's a good value.
...

That's very true... but it also depends on your family's vacation habit.
Unfortunately we're not beach/lake/water people. If we are we could spend so much less $ going to the IL's little lake house....

 

[Purseval]

DVC is a timeshare. DR (and every other financial guru on the planet) hates timeshares. So no, according to DR DVC would not only be a good deal it would be a horrible one. But that's his opinion. When he starts paying your bills is the day his opinion really matters.

 

[ToddRN]

Seems like there are a couple of different aspects to this:
1. Would DR approve?
IMO - if you achieved debt-free status and you have the money - to be blunt - who cares if he would approve? I love DR and his plan but asking this is like asking if your coach approves of the technique you used to win the Gold Medal. Who cares - you won!

2. Is DVC a "good deal"?
Trickier. The main reason we bought was because with 4 kids we don't easily fit into standard rooms and with extended family/friends added in we really want the larger accomodations we can get through DVC. That being said we could still go for cheaper even if we had to get 2-3 rooms at a value resort (vs. a 2BR or Grand Villa). We like it because it works for us and that's enough. But no, its not financially the best option and possibly a good reward if it helps motivate you to debt free status. Of course, renting Disney movies and putting a slip'n'slide in the backyard would be cheaper than park tickets but when talking about going to Disney "good deal" becomes a fuzzy term.

Wow- I really like your post! Your comment regarding Disney and good deal being "fuzzy." It's expensive, but I've never left after a vacation feeling like I hadn't got my money's worth. A person could spend forever with the argument that it's too expensive, better deals etc. For me the key point is that I love the villas, and the luxuries. It's tight for me until I have it paid off- come on 2015!!!! And maybe thats part of the Disney magic- being more motivated by going for what works for you instead of dissecting all the dollars/"sense"/comparisons, etc. Just my 2 cents worth!!!

 

[jodifla]

I'm glad I didn't know about these kinds of boards 15 years ago. While everyone around here routinely tears their hair out trying to figure out the actual cheapest best deal, and whether DVC is worth it, my DH and I happily bought DVC 15 years ago and even -- gasped - FINANCED! THE HORROR!! As DINKS back then, we paid if off quickly.

Fast forward about 6 years, and we were down to 1.5 incomes. A paid off DVC has been allowed us to keep traveling deluxe for moderate prices.

As an example, just got back from a fab trip to BLT last week in a 2 bedroom overlooking the lake. Our room rack rate was almost 7 GRAND. To book it on Expedia was about 4 grand.

Us? We paid about $850.

And we get to vacation with friends all the time. Sometimes the most "sensible" thing isn't the best thing.

You only live once....and I plan to do it as well and as fun as possible.

 

[TNKBELL]

Wow! So much to catch up on!! In response to the fact that I am a budget girl, so why would I "waste" money on DVC? Well the truth is, all budget people are that way so that every once in awhile they can BREAK THE RULES and have a little luxury. I don't think there is anything wrong with buying DVC as long as you can afford it. It is NOT the best deal out there, that's true. We have rented lots of condos and even pool houses for super cheap rates and it's been awesome.

I liked the "Dave" analogy of investing the up front cost in a mutual fund for 20 years at a rate of 12% and ending up with enough to buy a condo...that's priceless and very true! It cracks me up because we are in the midst of taking FPU and he uses that same comparison almost every class.

I also like the suggestion of Bonnet Creek, I have looked at the pics online and it seems gorgeous! Marriott sounds interesting as well.

Also renting points is another option that would work very well and no commitments.

My thinking is that if we decide to, we would only buy a small amount of points and use them for part of the trip, not the whole thing...like a special treat, but still stay off-site at one of our bargain villas.

Disney resorts just have that special little magic that puts you into an all encompassing Disney experience. We even love the buses!!
Since this isn't a possibility for awhile, no decisions have to be made. I just wanted to know your thoughts, and I appreciate every single one!!
You didn't disappoint me with all the varying opinions.
I have so much to think about.