Best place to take a loan from?

[GoofGoof]

Yes exactly! I totally agree with paying interest too but sometimes I guess we tend to do the all american thing and borrow. Lol it's a trap I tell you and you are one of the minority that are not getting caught! Haha.
All these people that judge others for there decision or tell them it's crazy is very annoying because like you said as well as long as you can afford the payments why not. That's how I feel too about others and that Is a very personal decision for each individual or family to make, and everyone's situation or desires are in fact different.
Oh and yes we knew about the maintenance fees part too and used that as well. Thank you for mentioning that.
One last thing I want to commend you for not having any debt but your home! That really is something to be proud of and strive for! That's awesome!

What I think happens a lot is people look at a longer break even point when you finance and say because of that you should never consider financing. The break-even point or the money you save with DVC is really just 1 aspect of ownership anyway. Even if that's the most important thing to you, buying DVC and financing it will still be cheaper in the long run than paying cash rates. It just takes longer to break even.

 

[sxeensweet]

What I think happens a lot is people look at a longer break even point when you finance and say because of that you should never consider financing. The break-even point or the money you save with DVC is really just 1 aspect of ownership anyway. Even if that's the most important thing to you, buying DVC and financing it will still be cheaper in the long run than paying cash rates. It just takes longer to break even.

Yep very true. We did our math and were aware unlike what some think everyone who finances is not aware of that. Lol Math comes easy to me and I figured it all out beforehand. So if we pay it off early it makes that break even point happen sooner. That is what we are striving for but if not we are okay with that too. Like you mentioned it still comes out better than paying cash every stay in the future. We would never pay $1000/night for say a 2 bedroom Savannah view for 10+ day stay but we actually did that the last trip for 12 nights and also threw in a few nights of those 12 at the new GFV in a 2 bedroom which is even more expensive than AKV. In cash even with a deal would have been at lest $9000 or more just for the room with taxes etc and no dining plan or park tickets yet etc. With DVC we can enjoy that and not worry about the price to stay for so long like we like to do. So that gives a perfect example to the perks to DVC. Also paying out dues and monthly loan we still are only spending a fraction of that a year. The last trip with tickets, dining, etc would have been about $12,000 roughly and for the year we pay about $4500 only until our loan is paid off then it drops to just our dues which do go up every year but not drastically each year and it's very manageable. So we got a bigger room(normally we stay in a 1 bedroom Villa just like this coming trip this fall but even those come out to more than we pay for our loan and dues by a few thousand so a substantial difference). I really like you do not think some get why we buy into DVC and it definitely is not just about the break even point or just about the money but for people like us that were dead set against it until we really looked into it and then realized it made a lot of sense.
The MAIN reason: It is about owning just a little of that magic and for many more Disney vacations to come. That is what makes me and the DH happy!

 

[BigTxEars]

I think the money aspect of DVC is just one reason to own, and for us it's not even the biggest reason. Owning some of the magic is our number one reason, knowing we will be going to WDW for the next 40 years, every year is powerful stuff for us

Man does Mickey have us by the short hairs or what?

 

[sxeensweet]

I know huh! Us too! My DH said never would he own in DVC and then a few more trips later he is saying why we didn't buy sooner after all the money we spent staying at DVC resorts every time. Lol

 

[BigTxEars]

I know huh! Us too! My DH said never would he own in DVC and then a few more trips later he is saying why we didn't buy sooner after all the money we spent staying at DVC resorts every time. Lol

LOL yeah us too, if fact we just bought more points, everything is done and we should have them in our account with 7-10 days. I swore that was it, we did not need anymore, we were done.....

And now this little feeling is starting to creep back into my mind.....a feeling of.....just one more add....just a few more points....

 

[sxeensweet]

LOL yeah us too, if fact we just bought more points, everything is done and we should have them in our account with 7-10 days. I swore that was it, we did not need anymore, we were done.....

And now this little feeling is starting to creep back into my mind.....a feeling of.....just one more add....just a few more points....

Lol...Yes we actually said no more points after we bought in and now a year and a half later after staying at GFV and being wowed want to buy points there even if it's just 25-50. Lol

 

[BigTxEars]

Lol...Yes we actually said no more points after we bought in and now a year and a half later after staying at GFV and being wowed want to buy points there even if it's just 25-50. Lol

Glad I am not the only one. We get emails daily from the resale places (we bought all of our points resale) and I don't even open them now because I am to weak to resist!

 

[note2001]

I had a long conversation with someone at the Timeshare Store the other night. Obviously, they want you buying from them, but the woman I felt was spot on. Said she can't understand how anyone can purchase DVC through Disney anymore. Unless you're so desperate to own just a few points, owning the amount of points that many of us with kids would need for a good vacation is not realistic anymore. It's just gotten too expensive.

Over the past decade, it seems to me that Disney has shifted their target market from the average American family to younger couples without kids and well off foreigners.

I bought my initial contract direct from Disney. It was easy and my points were there right away. I did my homework for months in advance though, and weighed out resale to direct. At the time Disney's deal came with incentives that made the prices about the same. I financed through them, but I had to work HARD to get that loan down fast. Every day with a loan out was more money I was paying out that I could have kept. Every raise, every bonus, every extra $25, and the many times when I considered renting more points, I sent that money off to pay off the loan.

I'd never tell anyone not to finance their purchase,. Just to do their homework, know the numbers and make a payoff plan. I'm now looking to add on, but financing is not in the equation, and resale is the only way I'll go.

 

[squidward]

I think the money aspect of DVC is just one reason to own, and for us it's not even the biggest reason. Owning some of the magic is our number one reason, knowing we will be going to WDW for the next 40 years, every year is powerful stuff for us

Man does Mickey have us by the short hairs or what?

See, I've never understood this reasoning (no disrespect). Why do you have to be a DVC member to know that you will be going every year? If you want to go, then go. You don't have to be a member to know that.

I guess this is why DVC didn't make sense for us. I like the idea of knowing I can go if I want, but if for some unforseen reason it doesn't make financial sense one year we can not go and not be responsible for anything (dues).

 

[GoofGoof]

See, I've never understood this reasoning (no disrespect). Why do you have to be a DVC member to know that you will be going every year? If you want to go, then go. You don't have to be a member to know that.

I guess this is why DVC didn't make sense for us. I like the idea of knowing I can go if I want, but if for some unforseen reason it doesn't make financial sense one year we can not go and not be responsible for anything (dues).

You can rent your points. If you do it through a known sites like David's you get $11 per point which on average is around double the annual fees. Per the website, right now he has a shortage of availability at pretty much all resorts and there is a wait list of people looking to rent the points. If you have an unforeseen financial problem and can't go one year, renting your points will not only cover your maintenance fees but actually give you a little extra cash back. If your reason for skipping a trip to WDW is not financial, depending on how many points you have and when they expire you could also bank your points to be used next year.

The idea that DVC owners must go to WDW every year or they will somehow lose money is a complete fallacy.

 

[note2001]

You can rent your points. If you do it through a known sites like David's you get $11 per point which on average is around double the annual fees. Per the website, right now he has a shortage of availability at pretty much all resorts and there is a wait list of people looking to rent the points. If you have an unforeseen financial problem and can't go one year, renting your points will not only cover your maintenance fees but actually give you a little extra cash back. If your reason for skipping a trip to WDW is not financial, depending on how many points you have and when they expire you could also bank your points to be used next year.

The idea that DVC owners must go to WDW every year or they will somehow lose money is a complete fallacy.

And let's not forget banking and borrowing which is a new concept to most folk looking into buying DVC. There are many folk who buy just enough to cover half, or 1/3 of their point needs and then simply save the points up for that trip every 2 or three years.

 

[GoofGoof]

And let's not forget banking and borrowing which is a new concept to most folk looking into buying DVC. There are many folk who buy just enough to cover half, or 1/3 of their point needs and then simply save the points up for that trip every 2 or three years.

That's where I'm at right now. With banking and borrowing we have enough points for every other year for either a week in a 2BR villa or 9 to 11 nights in a 1BR villa. We either go for a little longer or we bring friends/family with us. It works for us. We did a few nights at HH this summer in our off year from WDW and liked it so much we are considering buying points there. For now I'm sticking with every other year, but the Poly DVC is very tempting to me

 

[BigTxEars]

See, I've never understood this reasoning (no disrespect). Why do you have to be a DVC member to know that you will be going every year? If you want to go, then go. You don't have to be a member to know that.

I guess this is why DVC didn't make sense for us. I like the idea of knowing I can go if I want, but if for some unforseen reason it doesn't make financial sense one year we can not go and not be responsible for anything (dues).

Oh no doubt what you posted is true. We have been going for years without DVC.

We are a family that rather not go to WDW if we can not stay on property, it is a huge part of the vacation for us to be on property. Being part of DVC ensures that when we go we will be on property, thus we are more sure that we will be going each year. The ability to stay at different resorts each year is a huge bonus for us.

I also understand what you are saying about not being able to go and still having to pay the annual dues. I hope we never have to skip a year but if we do we will just rent out our points that year and use that money to pay the dues. Honestly if we were to rent all of our points one year we could pay our dues for two years. So I really do not see that as an issue at this point. If we ever decide to go somewhere else other than WDW one year we can do the same, if fact thinking about it we could rent out our points one year, pay our dues that year and still have enough to rent a room somewhere else for a week.

And as posted banking the points for the next year is also a great option.

 

[sxeensweet]

See, I've never understood this reasoning (no disrespect). Why do you have to be a DVC member to know that you will be going every year? If you want to go, then go. You don't have to be a member to know that.

I guess this is why DVC didn't make sense for us. I like the idea of knowing I can go if I want, but if for some unforseen reason it doesn't make financial sense one year we can not go and not be responsible for anything (dues).

You do not have to go every year that is one of the biggest misconceptions out there. The annual dues are not that expensive and how we look at it it is paying a small fraction a month to save for our next trip no matter when we go next. We pay only a little over $100/month. It's not like you pay your dues for your points every year and lose them if you skip a year or 2 from going. You can bank them from the previous year towards the next year. So your dues are not wasted.
We on average after next spring will go every other year and let our points build up for a longer stay etc. Or like Goof said you can rent your points out etc. Also how you said if you do not have the money well DVC makes
It easier so you don't have to have a bunch of money aside to go. We enjoy just having to pay for our food and tickets and not the room which is usually the most expensive part of taking a Disney trip etc. We love staying in Deluxe/Villa resorts so it was pretty expensive $5000+ For just the room portion (even with deals) every trip so DVC Lets us not pay that really steep prices for our room.
There is a lot that most do not know how it works unless you seriously look into it. Me and DH said we would never ever buy into DVC and once we did our research and figured out the numbers knowing we we would be visiting at least every other year it made perfect sense for us. We have been the past 3 years in a row but we will be skipping a year or 2 to go elsewhere for our big annual vacation. So it is very flexible and saves us a lot in the future. Also we can always sell our DVC contract if we need to and it is not hard to sell at all. So we have many reasons to love our DVC ownership as most members will feel the same.

 

[squidward]

The idea that DVC owners must go to WDW every year or they will somehow lose money is a complete fallacy.

I don't think that. I'm just saying, it seems that some DVC owners have this idea that if you don't own, you can't go every year. Go when you want or don't want, DVC or not.

 

[squidward]

Oh no doubt what you posted is true. We have been going for years without DVC.

We are a family that rather not go to WDW if we can not stay on property, it is a huge part of the vacation for us to be on property. Being part of DVC ensures that when we go we will be on property, thus we are more sure that we will be going each year. The ability to stay at different resorts each year is a huge bonus for us.

I understand that as well, but how does NOT being a member mean you can't stay on site every year? No doubt, I prefer to stay at the nicer resorts for the location, but staying at a Value or Moderate for me is perfectly fine. Then again, we all know that if you're like that, then DVC more than likely isn't a good fit for you.

 

[BigTxEars]

I understand that as well, but how does NOT being a member mean you can't stay on site every year? No doubt, I prefer to stay at the nicer resorts for the location, but staying at a Value or Moderate for me is perfectly fine. Then again, we all know that if you're like that, then DVC more than likely isn't a good fit for you.

It really does not mean you can't go to WDW every year if your not a DVC member, it just makes it easier to plan and budget as the room (one of the 4 major cost of going to WDW) is already "paid for" before the trip if we are. Like I said we have gone yearly without DVC, it just makes it easier to plan for us as a DVC member. I am fine with a moderate but a value is too small a room for us at this point in our life. So that along with the location of the deluxe resorts really draw us towards them.

I agree DVC is not for everyone, that is something that everyone has to decide for themselves.

 

[note2001]

I understand that as well, but how does NOT being a member mean you can't stay on site every year? No doubt, I prefer to stay at the nicer resorts for the location, but staying at a Value or Moderate for me is perfectly fine. Then again, we all know that if you're like that, then DVC more than likely isn't a good fit for you.

It's been years since I compared DVC to non DVC stays, but I think your statement is just as true now as it was then when it comes to who will be happy with owning DVC. If someone is just as happy to be in a Disney Value resort room as anywhere else on properly, they will save money by staying in a value room (with discount) over buying in to DVC (at least until those prices skyrocket past the cost of the moderates.)

Back when I was comparing costs, DVC worked out to be about the same as a mod with a discount code applied. I am not a value person, however, loved POR riverside and was quite happy there, until I tried renting points at BWV.... and that was the end of that.

 

[flynnibus]

You do not have to go every year that is one of the biggest misconceptions out there. The annual dues are not that expensive and how we look at it it is paying a small fraction a month to save for our next trip no matter when we go next. We pay only a little over $100/month.

Assuming your next trip is at Disney dvc....

Why would I want to pay $100/mon towards a trip I wasn't going to take? What if my next vacations are at the Great Lakes?

Like it or not - you've committed to vacation consistently with Disney. The 'every year' is just a detail that you can dodge, but you are locked into paying yearly and hour points have a finite lifespan. The only real out is renting out your points.

 

[BigTxEars]

It's been years since I compared DVC to non DVC stays, but I think your statement is just as true now as it was then when it comes to who will be happy with owning DVC. If someone is just as happy to be in a Disney Value resort room as anywhere else on properly, they will save money by staying in a value room (with discount) over buying in to DVC (at least until those prices skyrocket past the cost of the moderates.)

Back when I was comparing costs, DVC worked out to be about the same as a mod with a discount code applied. I am not a value person, however, loved POR riverside and was quite happy there, until I tried renting points at BWV.... and that was the end of that.

I agree, if someone prefers Mods or Values then DVC makes little sense. I love love love POR and would stay there every trip But the options for larger rooms (1, 2 and 3 bedrooms) is something that POR can not offer. The Deluxe resorts can. Plus we want a little mix of where we stay, more options in Deluxe than Mods.

And BW is awesome if you like World Showcase