Selling DVC Membership - Loss of job +Financial Difficulties

[DisneylandGuy22]

Hello all,

I have recently lost my job and I need some information regarding selling my DVC contract. .....(details removed)............ I still have a loan with DVC so I am not sure what happens now regarding the loan and selling it back to Disney or do I have to go through a resale company?

I called my guide but she wasn't much help at all. I am going to call Member accounting on Monday and ask them as well.

If anyone has any information regarding this would be greatly appreciated.

Thanks

 

[McCrae]

Hope you get a new job soon.

Have you thought about renting your points?

Best of luck in whatever you decide.

 

[jlewisinsyr]

You'll need to edit your post as the way it is listed, with the level of details provided could be interpretted as attempting to sell your contract on this board, which is prohibited.

As for your question, how much do you owe, or in terms of your contract how long have you had it and how long was your original loan? If you've owned it for a short time and have only paid a few years on a 5+ year loan, you're probably upside down in your payments.

 

[TisBit]

I would look at what resales are going for,....(details removed)........ and determine if you would lose money by selling it. The other option is try to work out a deal with DVC to "walk away" from the contract, just deeding the points back to them and calling it quits......you would definitely be at their mercy on this one though.

 

[Sandisw]

Resale companies charge around 10% commission (that is what I paid to the TSS). .........(details removed)......... look at what is passing ROFR.

But, you would have to be able to get more than the loan. If not, you would be forced to come up with that.

If your loan balance is more than what you could get from a selling it via the resale market, your only option would be to contact Disney and see what they are willing to do.

Good luck and I am sorry that you have to sell DVC.

 

[TisBit]

haha...man, we all got edited!!!!

 

[CarolMN]

haha...man, we all got edited!!!!

It's not a badge of honor, LOL! (Where's that tag' fairy when you need her, anyway)?

Thanks for trying to help the OP - I think you did, even after the edits.

 

[Coach81]

Sorry to hear.. good luck.

 

[Bangerang]

Instead of selling have you looked into renting your points? Depending on how many points you have and your loan amount there may be a way to break even and continue to hold onto your membership.

 

[gstew24]

how long have you had you points

 

[Jason@dvcstore]

Hello all,

I have recently lost my job and I need some information regarding selling my DVC contract. .....(details removed)............ I still have a loan with DVC so I am not sure what happens now regarding the loan and selling it back to Disney or do I have to go through a resale company?

I called my guide but she wasn't much help at all. I am going to call Member accounting on Monday and ask them as well.

If anyone has any information regarding this would be greatly appreciated.

Thanks

I am sorry to hear about your situation. I hope things turn around for you quickly. Feel free to contact The Timeshare Store, Inc.® at sales@dvcstore.com and we will be happy to explain the process of selling.

Jason

 

[Plutofan]

I am sorry to hear this. I hope that everything works out.

 

[got4boys]

Did Disney respond yet?

Good Luck on finding another job. I understand. We have been there.

 

[XGrumpy1]

A contract with lots of current points can sell easier than one with no points.

I have never done this, but I bet you could find some one on the rent, trade board to transfer points to your account to make the contract more attractive on the resale market. Just a thought on how to sell a contract in a tough market.

 

[frank808]

Good luck with your situation. You'll get plenty of advice on what to do.

 

[taurus8012]

Hello all,

I have recently lost my job and I need some information regarding selling my DVC contract. .....(details removed)............ I still have a loan with DVC so I am not sure what happens now regarding the loan and selling it back to Disney or do I have to go through a resale company?

I called my guide but she wasn't much help at all. I am going to call Member accounting on Monday and ask them as well.

If anyone has any information regarding this would be greatly appreciated.

Thanks

I lost my postion back in June 2009 and just got back to work (10-25-2010) . I just Pm'd you about how I kept my DVC . I am so happy that I didn't sell . make sure that you exhausted all options before selling because unlike other timeshares DVC is an asset. I hope that what you read you find helpful.

 

[lisaviolet]

Just in case you don't know -

Because you're a Canadian citizen (for all non-US residents selling) -

The US government will withhold 10% of your sale. And then you will have file to reclaim it.

 

[OrangeCountyCommuter]

I lost my postion back in June 2009 and just got back to work (10-25-2010) . I just Pm'd you about how I kept my DVC . I am so happy that I didn't sell . make sure that you exhausted all options before selling because unlike other timeshares DVC is an asset. I hope that what you read you find helpful.

Since DVC "expires" it's actually LESS of an asset then other timeshares

Since DVC "expires" unlike other timeshares it would make sense that as your "remaining term" gets shorter the "resale value" will drop. Folks won't be paying $120 a point for 1 year remaining LOL!

I am not saying OP should sell, but DVC is not really a traditional asset and you should never risk real assets in any way to save it!

 

[Jason@dvcstore]

Since DVC "expires" it's actually LESS of an asset then other timeshares

In my opinion I would say Disney Vacation Club holds its value more than any other timeshare. Disney Vacation Club has the same benefits regardless if you buy from Disney, The Timeshare Store, Inc.® or your co-worker who owns points. Most resorts if you buy resale you lose some type of benefit which is why most of them are sold for very little money.

Since DVC "expires" unlike other timeshares it would make sense that as your "remaining term" gets shorter the "resale value" will drop. Folks won't be paying $120 a point for 1 year remaining LOL!

In my opinion you are using an extreme example of 1 year left. The Beach Club Villas, for example, expires 2042 so based on your logic the price should go down each year. Here at The Timeshare Store, Inc.® we sold Beach Club Villas for around $73 point in 2004 and in 2010 we are typically selling them for around $80 to $85 per point but yet they still expire 2042.

Also be advised that people are still buying Beach Club Villa points from Disney for $108 per point (I believe that is the current price) and Disney sold those in 2000 for $65 per point. Disney hasn't been lowering their prices since 1991 and I don't expect them to start now.

Jason

 

[ccgirl]

In my opinion I would say Disney Vacation Club holds its value more than any other timeshare. Disney Vacation Club has the same benefits regardless if you buy from Disney, The Timeshare Store, Inc.® or your co-worker who owns points. Most resorts if you buy resale you lose some type of benefit which is why most of them are sold for very little money.


Jason

What benefit do you lose purchasing non DVC timeshares resale? I know many people who purchased from eBay, a deeded timeshare (never expires, can will it to someone etc). and they are still considered a full fledged owner - each and every one of them. Plus, I didn't really receive any "extra" benefits by buying straight from the developer; except maybe the 0% interest rate.

You actually illustrated the point that DVC does depreciate just as other timeshares do. WHile not as much; they still do depreciate. I would compare a timeshare to a car. You are not going to sell the car for more than purchased it for (except of course a collector's edition).