Pondering . . . To do or not to do


#1

So here’s the deal. I spoke with a DVC representative this weekend. He tells me that the buy in right now is $17,920. This would include 160 points. He said there is a special running right now that discounts the points to $93 each instead of $112. Wouldn’t that mean that if we bought in at this price we would receive 192 points? :blink: He did tell us that there would be about $345 in closing costs and that at this level the monthly maintenance fee would run about $50 a month. Overall, with “standard” financing (because we don’t have the best of credit :blush:) the cost would run us about $260 monthly (loan payment plus monthly maintenance fee) if we were to buy into Saratoga Springs or Animal Kingdom property. I was also told that to start the process we would be required to pay $1,792 up front. Or, if we wanted him to hold the $93 rate we could pay $500 now, lock in the rate and pay the remaining $1,292 within a month of locking in. If we pay the $1,792 does it come off of the financing of the $17,920? We are most interested in STAYING at one of the resorts that have a view of the Magic Kingdom castle and fireworks show. That is the main reason that my husband and I wish to move up to a deluxe resort. The luxury of the resort is great, but our first priority is the Magic Kingdom view. Anyway, the sales rep told me that we could buy into Saratoga or Animal Kingdom but still be able to stay at Baylake Resort, with a Magic Kingdom view, for a week using the 160 points that we would purchase. Does all of this sound right? :glare: Am I misinterpreting anything? Do DVC members get any kind of discounts on tickets and/or meal plans? What is the going rate for annual passes? I was told that if I buy in now that I would receive a whole year’s worth of points (160) and would receive another 160 points as of January 1st. Thus giving us 320 points to start the year off with, should we not use any prior to the end of the year. Can anyone tell me about the Saratoga Springs and the Animal Kingdom resorts? We’ve never stayed at either. Looking at the virtual tour of each I wasn’t that impressed with the Animal Kingdom Lodge. It seemed dark and dreary inside the rooms. The one bedroom Saratoga Springs resort looked very nice. Although there are three of us and someone would have to sleep on a fold out sofa. Not sure how keen I am about that. Of course, there is always the two bedroom option but I’m not sure if the 160 points would cover that for a week - ??? Eeek! :ohmy: So many questions! We always use the Disney buses to get around. How well do they run at either of these resorts? Any help anyone can provide would be greatly appreciated! Our family needs guidance! Is it true that if we use a current member as a referral that we receive a discount? If so, will this come off of the $17,920? Okay, there are my questions for now. :laugh: Thanks in advance for the replies! And if I’ve missed anything, please fill me in.


#2

Don’t let them talk you into a DVC that doesn’t interest you. If you like the Magic Kingdom view, look into Bay Lake Tower. We just purchased there, and they had very similar deals as AKV. The discount will be deducted from the amount you owe, not added on to the points you purchase. So, you would still have 160 points, but it would be less than the $17,920 originally quoted. And yes, your down payment of $1,792 would also be deducted from the original amount owed, so your loan will be lower less the discounted amount per point, and the down payment. Their interest rates seem rather high to me that they offered, so you may want to look into other financing such as an equity cashline to make it more affordable


#3

Wow, you have a lot of questions. There are people here who love to help so you’ve come to the right place.

First of all, have you stayed at any DVC resort before? I always tell people to buy where they want to stay. You are spending a lot of money and you should be happy with it. We love Beach Club and the Epcot area so that’s where we bought, it cost a little more but it was worth it to know that we can book there before people who don’t own there.

Your guide is right, no matter where you own you can book any DVC resort but you have to wait until 7 months out to book there. Sometimes you’re get what you want but I’m sure there will be times when the resort you want will be booked. If you are flexible with your dates and resorts it won’t be a problem. We can’t be flexible so the 11 month booking window is important to us.


#4

Right now members get $100 off annual passes but no discount on the dining plan. Keep in mind, perks come and go so don’t buy in counting on each and every perk.

There are a lot of point calculators out there, check out the different resorts and the number of points each room type uses. http://www.wdwinfo.com/resort/dvcpoint.cfm I think 160 points will get you 6 nights in a studio with a Magic Kingdom view at Bay Lake Tower in July.


#5

Kelly,

Have you looked into the secondary market? We bought our DVC membership from the Timeshare store at a really good rate. Of course they do not include the free cruise or the financing that DVC may offer you, but it may be worth checking out.


#6

[QUOTE=Dawn;976556]Kelly,

Have you looked into the secondary market? We bought our DVC membership from the Timeshare store at a really good rate. Of course they do not include the free cruise or the financing that DVC may offer you, but it may be worth checking out.[/QUOTE]

Great suggestion. I think one of the DVC resale companies (The Timeshare Store) offers financing through a lending company they work with.


#7

We used the Timeshare store and they were great. I think someone posted on this thread or on Wall’s thread about them. There are some really great deals on there but you have to look. We used Scot Decker and he was very helpful. Look for ones with a good amount of banked points.

~Dawn


#8

Wow, yeah, that’s a lot of questions. hehe. Totally normal though, I will try to answer a couple things.

You do get a discount on annual passes, it’s $100 off the normal adult rate. I believe I paid about $350. for the discounted adult pass.

Some other discounts include merchandise at certain DtD stores, 10% off some dining if you don’t do the DDP, if you ever want to use the Disney Florist there is a discount there too, a good discount on certain tours, etc.

You might want to look for more pictures of the Animal Kingdom Lodge Villas, they are totally NOT dreary. We stayed there for 8 nights a couple weeks ago & LOVED it!!! The rooms are GORGEOUS and totally comfy. If you want to look at my latest TR I have lots of Kidani pics in there.

Yes, there is a GREAT “referral discount” occassionally, that’s when we bought during a referral discount time & saved a good couple thousands of dollars! Although, as far as I understand you had to give a referral name during your FIRST phone call to DVC. I know they are REALLY fussy about this, at least back when I bought. This could have changed or I could be wrong but I was pretty sure that if you have a referral name you have to give it upon your first contact with a guide or it didn’t count.

Otherwise, don’t feel pressured by anyone. Take time, read into everything, & make sure it’s really for your family. :smile: There are LOTS of DVC passionate people out there who are glad to help.


#9

[QUOTE=Dawn;976564]We used the Timeshare store and they were great. I think someone posted on this thread or on Wall’s thread about them. There are some really great deals on there but you have to look. We used Scot Decker and he was very helpful. Look for ones with a good amount of banked points.

~Dawn[/QUOTE]

We used Jaki as Resales DVC and she was great.

If you always want to stay at BLT then buy at BLT. We went the resale route because we love the Wilderness Lodge, which is sold out through Disney although you can go on a waiting list to get points there.

We did about a years worth of research before we finally bought, so my best advice is take your time and make sure DVC is right for you. If it is then make sure the contract that you buy is right for you.


#10

Excellent advice. Don’t rush this, you have plenty of time to learn about DVC before you buy. We waited several years before we finally bought in and I’m glad we waited. By the time we bought it I felt like I knew what I needed to know to make an informed decision.


#11

Hey GoofBall, Why not post this on that thread I already started (I mentioned you “DW”)… Hmmmmm ?
… See what happens when you stay off MB for awhile!!!

Alright dear, we will discuss this tonight .


#12

I just saw a few more of your questions…

I think the buses at the DVC resorts are GREAT! SSR has been the fastest & most plentiful in our experience & Boardwalk was the worst. Although, we’ve never had any real bad experiences. They have a tendency to be less packed then the value buses.

I know you said you liked the one-bedroom units at SSR but even with 160 points I don’t think that will get you a 1-bedroom, for a week, every year without borrowing points from the next year. The LEAST amount of points you’d need for one week in a 1-bedroom at SSR is 182 points. SSR is our first home resort & we started with 160 points there, we’ve always stayed in Studios, they are really nice.

You also said:

Well, I look at it from the opposite way, how much of a loan can you afford? I would start with a budget, THEN go by the price PER POINT. If you get a deal of $93. per point than the 160 point package would cost you $14,880. If you don’t get the deal & have to pay $112. per point then yes, a 160 point membership will end up costing you $17,920. If you can AFFORD the $17,920 then heck, get MORE points with the $93. deal.


#13

Hi, you are getting lots of good advice. I have not owned too long so I’ll just chime in a personal point of view. Perhaps if your credit is not where you want it to be yet I might pass on DVC for now. Yucky high interest rates are the last thing I’d want to see you have to tack on to your DVC dream. It will still be there in time. :flowers:


#14

Yeah, I have a tendency to feel the same way. Yes, my husband & I had to finance a big portion of ours, but we also have near perfect credit scores & try to pay off as much as possible.

Just go over everything with your family, look at the numbers, & you’ll make a wise informed decision I am sure! :happy: