Should I or shouldn't I....

[kmeyer1229]

Just returned home from WDW and took the DVC tour for the first time. Left a deposit, of course....VGF, 100 pts for $16,500. They also gave me 100 points on the spot, in addition to the pts I will get in March.

I have been to Disney with my kids 6 times in the last 9 years and we generally stay for a week at POR.

Pros and cons of ownership? Worth the money? I thought 9.99% interest was a lot and will be looking into my own financing if I do it.

Thoughts?! Thanks!

[Basket Mommy]

We joined in 2008. We went through the whole tour & were filling out the paperwork when the guide told us she needed a check or CC for the deposit. We had neither on us at the time, so we took the paperwork home to send back in. So glad we did, because my husband did research on resale. At the time Disney was selling SSR for $104 per point. We were able to buy HHI through resale for $60 per point. Instead of the 150 points we were going to get direct from Disney, we were able to buy 350 points.

We luckily bought before they changed the rules on how resale points can be used, but it doesn't really matter. We don't use points to cruise (it's a better deal for us to pay cash) or Adventures trips. We only use them for stays at HHI (we live in SC) and for Disney World stays.

Even though Disney does offer bonuses when buying from them, I don't think it's worth the savings you can get buying through resale. I am so grateful we didn't have a payment method for the deposit!

As for pros, it's nice to have the room part of your reservation taken care of (financially), and we love having the extra room and laundry facilities. We go to Disney once a year and Hilton Head at Thanksgiving, and that uses just about all of our points. I love not having to find a place to stay in Hilton Head; all I have to do is book our stay through points and it's already paid for.

The only con I can think of is the price (but we had saved up so we could pay cash), and the yearly maintenance fees. Ours are slightly higher because our home resort is on the coast. We have a family of 6, so when we calculate what 2 deluxe rooms would cost us for a week each year and compare that to what we paid up front plus yearly fees, owning DVC still makes financial sense for us. And if there ever came a time when we weren't using all of our points, we could always rent them out.

[dnickels]

Given what you've described about your vacation habits (a week at POR every other year) it probably would not be a good financial choice, especially if you have to finance it, and definitely if you finance it at anything approximating those rates.

I can give you the whole long-winded, math-filled response in a PM if you're interested.

[disneymom15]

We've bought both ways, first purchase was for Bay Lake thru Disney, second was Bay Lake thru Timeshare store. I would recommend purchasing thru the Timeshare store because the price is lower. I don't remember exactly what we paid per point thru Disney ($120/$125??), but resale was $88 per point.
We love DVC, love Bay Lake, so happy we bought. My thought is, buy where you want to stay.

[faline]

We looked quite carefully before we purchased. We did a couple of tours and made it quite clear we would not buy on the spot and, having already researched the resale market, also made it clear we were likely to go that route. Given the interest rates being charged, we also decided early on that we would only pay cash and though we might make several purchases before buying our anticipated number of points. We started saving and kept looking at the resale listings. We were able to accumulate more quickly than we thought and, when we found a resale that met our needs at a price that was attractive, we made a cash purchase. That was four years ago. Since then, we have stayed in most (but not all) of the DVC properties (including Aulani) and are whittling down the ones we have not yet visited. I have not regretted our purchase but we also typically visit Disney more than once per year. Like another poster, we purchased before the resale rules changed.

[Mrs Bus Driver]

There are a couple of threads in the form that can answer your questions. I know they are dated because prices have gone up even on resale but the pros and cons are still sound. Speaking for myself after much research I waited until I had the cash to pay and bought resale. Since I go off season and can make reservations 7 months out and not picky about where I stay I bought VB. The price going in was lower by 25 to 45 dollars per point. I am paying higher maintenance fees (another thing to consider) but after doing the math it will be 18 years or more before I start paying more then those who paid more up front. Hope this isn't to confusing but if you read those other threads you will have a better understanding of the true costs of DVC. Do a lot of research before you buy.

[Mrs Bus Driver]

Opps just realized those threads about the pros and cons of DVC are no longer pinned to the form. I was unable to find them doing a search. So sorry I wish they were still available there was a lot of good information in them.

[faline]

Opps just realized those threads about the pros and cons of DVC are no longer pinned to the form. I was unable to find them doing a search. So sorry I wish they were still available there was a lot of good information in them.

Is this the discussion you were looking for?

[VWL Mom]

I'm very happy with are our purchase but we waited until we were ready and didn't succumb to a sales pitch.

If I were you, I'd give it a lot of thought. You don't mention how many of you there are or what size accommodations you will need. If you're buying VGF because that's were you plan on staying their points are high. If you go 6 times in the next 9 years you would have 150 points to spend each trip (not counting the one time use builders points). The only accommodation you could book would be one week, standard studio, adventure or choice season, very limited option IMO.

If you would be comfortable somewhere else I suggest you look into that angle before plunking down $16,500 at 9.99% plus dues of $541+/yr.

[DizneyRox]

Point costs at most of the newer DVC properties is pretty high, and as stated, 150 points won't get you much. I always suggest seriously looking at the next higher level of accommodation than you want as what you want may not be available. If you don't have the points (or can't borrow enough from next year without impacting your next stay) you may be up the proverbial creek. For example, I've never been able to get a standard studio at Beach Club, not sure how many of that room type is available, but the are always taken. I've always had to upgrade to preferred.

If you are just planning on staying at DVC properties, and with that small of a contract I think anything else will be a real stretch, they look at resale. Using your points at non DVC properties is a pretty bad value.

I don't think there are any deals on GFV points, there might still be on Aluani.

I suggest also really looking into owning at the resort you want to stay at. The 11/7 month window is starting to make a difference. I think the lower point costs at the older resorts is going to make them very attractive locations, making it harder to get in, especially the cheaper accommodations.

Don't underestimate maintenance fees. They go up and they do add up.

[FaithTrustPixieDust]

I can tell you that it may be difficult to find financing at a better rate. That is basically an unsecured loan, unless you have something else you could use as collateral. (Equity in your home, stocks or investments, etc)

As much as I love Disney, I believe that any timeshare is a lifestyle purchase, similar to buying a boat. My opinion (for my family) is that we would not buy a boat or a timeshare unless we were in a position to pay cash.

Of course I know absolutely nothing about your family's financial situation; I'm just speaking in general terms.

[DizneyRox]

When financing through Disney, the interest paid is mortgage interest. You can talk to your tax preparer for advice on handling that. Most other financing options are not mortgage interest an are probably not eligible for any consideration towards your taxes.

[Mrs Bus Driver]

Is this the discussion you were looking for?

Yes that was it. Thanks reading this thread helped me with my decision the buy.

[BugeyedMuggy]

After many trip to Disney throught the years,our DD college and wedding paid for we purchased used Boardwalk for a very good price compared to full price thru Disney. We also paid cash so not to add to the cost of the DVC with interest. All that cost should be added into your decision because it decreases the value of buying DVC. If you have your heart set on GF I would suggest waiting for used points when the time is right.

[TheDuckRocks]

If you have your heart set on GF I would suggest waiting for used points when the time is right.

The Timeshare Store has the Grand Floridian resales listed right now at $140 per point.

[Basket Mommy]

The Timeshare Store has the Grand Floridian resales listed right now at $140 per point.

I'm kind of surprised. But, that's a huge purchase and some people don't think it all the way through, I guess. Are those passing ROFR at $140? I wish I was looking for more points. I'd love some VGF!

[TheDuckRocks]

Are those passing ROFR at $140? I wish I was looking for more points. I'd love some VGF!

I don't know if they are passing ROFR. Currently they are showing 2 contracts up for sale. One is 100 points and with 31 points available now, 59 points available March 2015 and then the 100 going forward from March 2016. The other is 195 points with 156 points available Oct. 2014 and 195 available starting Oct. 2015. One trip and then changed their minds?

[DizneyRox]

I can't help but think that people buy in to get a quick vacation and then turn around and hope to sell the points.

Who cares if they pass ROFR? Worst case is they don't and you end up buying them from Disney. If they do, you just saved a bunch of money.