DVC is it worth it for UK citizens

[YorkshireT]

On the subject of the £ are any UK DVC ers buying dining plan now? One point is dining plan on DVC has to be paid in dollars and it works out much more than the UK price now. I wouldn't buy it but it's another thing to consider- if you have to have Dining Plan and under a normal booking in your country they would charge you x amount per day, how's the exchange rate effect the cost as if you are DVC you have to pay the US price in dollars. Fortunately we can still buy the local park tickets which last 14 days, cover every park, water park, hopping, and photos for £299 - much less than US price.

 

[nickys]

Here's hoping the pound goes up eh? I envy those who bought in 5 years ago at 1.80/£, it really was a bargain then.

You're not kidding! When we bought it was more like 1.60 but still reasonable. We don't notice it so much on the monthly loan, but when the dues came in it was a shock. That reminds me, time to pay them

This last trip we really noticed the difference. When DH took the boys shopping, one of them came back with a pair of jeans. That was it. (Well, ignoring the Star Wars stuff from Disney Springs...). Last time we all got stuff, trainers, jeans, tops, you name it. Youngest DS even got an iPod it was so much cheaper.

 

[nickys]

On the subject of the £ are any UK DVC ers buying dining plan now? One point is dining plan on DVC has to be paid in dollars and it works out much more than the UK price now. I wouldn't buy it but it's another thing to consider- if you have to have Dining Plan and under a normal booking in your country they would charge you x amount per day, how's the exchange rate effect the cost as if you are DVC you have to pay the US price in dollars. Fortunately we can still buy the local park tickets which last 14 days, cover every park, water park, hopping, and photos for £299 - much less than US price.

We did at Christmas, for the actual Christmas weekend. We had a split stay from 23rd to 26th. And because it was the holiday weekend and I knew we didn't want to be cooking Christmas dinner, we booked 3 buffets. Did all our character dining at the beginning! That plus breakfast at BOG made it worth it, even with the exchange rate. Normally, though I wouldn't get it.

 

[Kwkiwi]

We did at Christmas, for the actual Christmas weekend. We had a split stay from 23rd to 26th. And because it was the holiday weekend and I knew we didn't want to be cooking Christmas dinner, we booked 3 buffets. Did all our character dining at the beginning! That plus breakfast at BOG made it worth it, even with the exchange rate. Normally, though I wouldn't get it.

Thanks for all your advice Nickys and Yorkshiret. It has been very helpful. There are so many angles to the concept! I've crystallised that I would probably stay more at grand Californian in LA and sometimes in BLT as I like the monorail. The NZ$ is actually very strong at the moment so the idea would be to fix future accommodation at that favourable rate.

Looking at skier Pete's availability chart for VCF you pretty much have to have that as your home resort to get bookings there when you want. (Thanks for that tip Yorkshiret). However VCF is expensive even at resale. The only way I could get the deal to stack up was to assume I sell the points in 2032 and assume they have held their value.

As you say YorkshireT it all depends if you can secure the accommodation you ideally were aiming for, at the 7 month mark. Those availability charts are hugely revealing as to your chances there.

Just one other question. Does anyone know how easy it is to rent small amounts of points that may be left over and not bankable to the next year?

 

[Kwkiwi]

Hi. I'm a UK dvc member, who did finance direct!

First thing, you really do need to understand how it all works before making any decision.

Second, I'm more trying to answer the general "is it worth it" question. Others are giving you the financial info so I'll stick to the wider picture.

So you know how often you want to visit and how much it costs by booking a package. Now where do you stay with a package and where do you want to stay in future? Our first stay onsite was at the Beach Club, us and 2 teens/tweens in a room. No way did we want to do that over and over. We like a 1 bed villa with kitchen, separate bedroom and a washer/drier. So that means a luxury resort.

How long do you see yourself going? Not 14 days every 2 years, but how far into the future? 10 years? Well you'd only just have paid it off by then, Little point buying. 20 years? OK, maybe worth it. How much would it cost to rent a studio at the Poly? Flights and park tickets need to be bought each time, so it's only the accommodation cost that counts.

But this is not a purely financial decision. It's about having the accommodation for a holiday for 40+ years for the price of the annual fees, once it's paid off.

We own at BLT, annual dues around 700 at the current exchange rate. Last year it was 500, and that's not all due to the price increase, that's the pound plummeting! And that will affect your decision. However depending on when you go back maybe things will change. Because to finance it through DVC you will have to be in the US as it's a bank loan (think second mortgage).

We only plan to go every 3 years at the moment, so bought accordingly. How many points do we need for 2 or 3 weeks BLT at peak season (school holidays) divided by 3. When we can go more often we can go at off season times so the points go further.

Fianancially, comparing the cost of paying to stay in a villa against the total amount of the loan plus dues for 10 years, puts us at just about breaking even on our 5th trip. (That allows for the dues for each year after the loan is paid off). so that's after 15 years. Certainly by the 6th trip we will definitely be "winning".

It would be worth looking into buying resale, but if you need to finance I think it would be difficult to get a loan to buy a timeshare, albeit one that holds it's value well. Also I have no idea how easy or difficult it would be as a UK citizen, from a tax perspective.

Hopefully this gives you some useful things to consider. Do you want me to look up the points for a studio stay at the Poly? If so, when would you be travelling, roughly?

Hi nickys
I saw you offered to look up for the other commenter poly availability. Are you by any chance able to look up for me what is available in 7 months time at vcf,preferably for a 5-7 night stay, any room type. Just curious to know what is available if I say didn't buy with vcf as my home resort. That would help me hugely with my investigations! Thanks Kwkiwi

 

[nickys]

Hi nickys
I saw you offered to look up for the other commenter poly availability. Are you by any chance able to look up for me what is available in 7 months time at vcf,preferably for a 5-7 night stay, any room type. Just curious to know what is available if I say didn't buy with vcf as my home resort. That would help me hugely with my investigations! Thanks Kwkiwi

Just done an availability check for 9th to 16th at Grand Californian. Today is 9th so first day of booking.

Both 1 and 2 bed villas available, and every type bar a grand villa is available for 6 days from the 10th. The 9th seems to be the issue. A grand villa is available for 5nights from the 11th. With the time difference it's now noon EST so a few hours after the booking window opened for 9th September.

Looking for 5th to 12th, a 2 bed villa is still available.

Also, plenty of availability during rest of sept, oct, Nov & Dec. This is way better than I thought, even allowing for the fact that only home resort owners can book these just now.

 

[Kwkiwi]

Just done an availability check for 9th to 16th at Grand Californian. Today is 9th so first day of booking.

Both 1 and 2 bed villas available, and every type bar a grand villa is available for 6 days from the 10th. The 9th seems to be the issue. A grand villa is available for 5nights from the 11th. With the time difference it's now noon EST so a few hours after the booking window opened for 9th September.

Looking for 5th to 12th, a 2 bed villa is still available.

Also, plenty of availability during rest of sept, oct, Nov & Dec. This is way better than I thought, even allowing for the fact that only home resort owners can book these just now.

Many thanks nickys for doing this for me. I really appreciate that. I am tossing up between SSR and VCF of which there is a big price differential in points. I guess a key thing also for me would be availability of studios as I envisage maybe using Grand Californian for stop overs to other parts of the US or Europe. Could you see any studio availability at all? I guess I could wing it and buy SSR and hope to book a 1brm. We have flexibility to travel in the low season now the kids are nearly off our hands. I'm getting pretty close to jumping! I have barely read any negative comments about dvc from owners out of lots of research I've done. Just one other thing what time do the bookings open at the 7 month mark? It's probably 3am New Zealand time...

 

[Kwkiwi]

Hi It's me again, just wondering if anyone can help me out.

If I am looking at a 100 point contract out there with use year September with the following:
2016- 100 banked
2017 -100
2018 -100.

What does the 2016-100 banked mean? if I were wanting to book (by May 2017) a stay in January 2018 for 200 points are those 2016 -100 banked still available to me? I just need clarification on this, as everyone is sleeping in Orlando maybe someone here can clarify this!!

 

[dreamfinder]

Hi It's me again, just wondering if anyone can help me out.

If I am looking at a 100 point contract out there with use year September with the following:
2016- 100 banked
2017 -100
2018 -100.

What does the 2016-100 banked mean? if I were wanting to book (by May 2017) a stay in January 2018 for 200 points are those 2016 -100 banked still available to me? I just need clarification on this, as everyone is sleeping in Orlando maybe someone here can clarify this!!

You can do 3 things with your points. Bank, borrow, or use. If you bank your points you aren't going in the current year, and plan on using them the following year. Borrowing is when you take points from next year to use them this year.

So those 100 banked points would need to be used by August 31st 2017 or they expire. If you plan on traveling by then, and the seller isn't looking for dues, then they are basically free points. If you won't travel by then, they won't do you much good unless you want to rent those points out through a broker, which might get you about $1,000 if you go through a broker.

 

[Kwkiwi]

You can do 3 things with your points. Bank, borrow, or use. If you bank your points you aren't going in the current year, and plan on using them the following year. Borrowing is when you take points from next year to use them this year.

So those 100 banked points would need to be used by August 31st 2017 or they expire. If you plan on traveling by then, and the seller isn't looking for dues, then they are basically free points. If you won't travel by then, they won't do you much good unless you want to rent those points out through a broker, which might get you about $1,000 if you go through a broker.

Thanks for that dreamfinder, just to clarify, it says on the listing, September 2016 100 banked, sept 2017 100, sept 2018 100.
Does that mean that the points starting 09/01/2016 got banked. Ie they are banked into the 09/01/2017 year? If that is the case would I have in January 2018 300 points if I borrowed the sept 2018 points?. Sorry about the confusion here, I just need to make sure I know what I'm signing up for!
Also that $10 per point I would get in the rental market, is that net of broker fees?
Thanks in advance.

 

[elhefe4]

Thanks for that dreamfinder, just to clarify, it says on the listing, September 2016 100 banked, sept 2017 100, sept 2018 100.
Does that mean that the points starting 09/01/2016 got banked. Ie they are banked into the 09/01/2017 year? If that is the case would I have in January 2018 300 points if I borrowed the sept 2018 points?. Sorry about the confusion here, I just need to make sure I know what I'm signing up for!
Also that $10 per point I would get in the rental market, is that net of broker fees?
Thanks in advance.

Here's a very thorough explanation of how banking and borrowing work: http://www.disboards.com/threads/understanding-use-year-updated-april-27-2016.1942668/

To summarize, yes, your understanding is correct that the September 2016 banked points are banked into the September 2017 use year. They will expire 8/31/2018 unless you use them before then. You could use those points, your 2017 use year points, and borrow 2018 points to bring you to 300 total points for a January 2018 trip.

I believe that $10/point is just an estimation. It'll depend on which broker you use to rent your points, but I'd say that's a fairly accurate estimate of how much you'd earn net of fees.

 

[Kwkiwi]

Here's a very thorough explanation of how banking and borrowing work: http://www.disboards.com/threads/understanding-use-year-updated-april-27-2016.1942668/

To summarize, yes, your understanding is correct that the September 2016 banked points are banked into the September 2017 use year. They will expire 8/31/2018 unless you use them before then. You could use those points, your 2017 use year points, and borrow 2018 points to bring you to 300 total points for a January 2018 trip.

I believe that $10/point is just an estimation. It'll depend on which broker you use to rent your points, but I'd say that's a fairly accurate estimate of how much you'd earn net of fees.

Wonderful thanks that's what I wanted to hear! Thanks for your assistance on this. It gets confusing as all the listings seem to word the points offerings slightly differently.

 

[dreamfinder]

Thanks for that dreamfinder, just to clarify, it says on the listing, September 2016 100 banked, sept 2017 100, sept 2018 100.
Does that mean that the points starting 09/01/2016 got banked. Ie they are banked into the 09/01/2017 year? If that is the case would I have in January 2018 300 points if I borrowed the sept 2018 points?. Sorry about the confusion here, I just need to make sure I know what I'm signing up for!
Also that $10 per point I would get in the rental market, is that net of broker fees?
Thanks in advance.

I may have misspoke earlier. So when you bank points, you move them from one year into the next. So if 2016 points were banked, they become 2017 points, but cannot be banked again. So they must be used during the 2017 use period, or they expire. A contract that comes with banked points is usually considered "loaded" because the seller has most likely already paid those dues, and you basically end up with a year of points for free. Yes, you could borrow your 2018 points and then have 300 to use in 2017, but then you have nothing to use in 2018 unless you borrow your 2019 points.

Brokers currently charge their customers $14-16 per point(ish), and usually pay the owners $10-12(ish). Will vary based on the broker and the resort.

 

[elhefe4]

Thanks for that dreamfinder, just to clarify, it says on the listing, September 2016 100 banked, sept 2017 100, sept 2018 100.
Does that mean that the points starting 09/01/2016 got banked. Ie they are banked into the 09/01/2017 year? If that is the case would I have in January 2018 300 points if I borrowed the sept 2018 points?. Sorry about the confusion here, I just need to make sure I know what I'm signing up for!
Also that $10 per point I would get in the rental market, is that net of broker fees?
Thanks in advance.

Per David's, you'd net $11.30/point for SSR points and $13.00/point for VGC points. https://www.dvcrequest.com/dvc-members.asp

 

[nickys]

Many thanks nickys for doing this for me. I really appreciate that. I am tossing up between SSR and VCF of which there is a big price differential in points. I guess a key thing also for me would be availability of studios as I envisage maybe using Grand Californian for stop overs to other parts of the US or Europe. Could you see any studio availability at all? I guess I could wing it and buy SSR and hope to book a 1brm. We have flexibility to travel in the low season now the kids are nearly off our hands. I'm getting pretty close to jumping! I have barely read any negative comments about dvc from owners out of lots of research I've done. Just one other thing what time do the bookings open at the 7 month mark? It's probably 3am New Zealand time...

Hi! Looked again just now, for 10th to 17th. The 10th is unavailable but it's now 3pm or so EST. Also checked the booking info, it opens from 8am EST. That's 1pm for us in the UK, so 9pm in Perth from the top of my head, midnight for you? If I remember I will try and check tomorrow right at opening for you, see if a studio is available, and for how long after.

 

[Kwkiwi]

I may have misspoke earlier. So when you bank points, you move them from one year into the next. So if 2016 points were banked, they become 2017 points, but cannot be banked again. So they must be used during the 2017 use period, or they expire. A contract that comes with banked points is usually considered "loaded" because the seller has most likely already paid those dues, and you basically end up with a year of points for free. Yes, you could borrow your 2018 points and then have 300 to use in 2017, but then you have nothing to use in 2018 unless you borrow your 2019 points.

Brokers currently charge their customers $14-16 per point(ish), and usually pay the owners $10-12(ish). Will vary based on the broker and the resort.

Thanks dreamfinder. I am learning quickly, had a crash course on Use Years overnight.
As it turns out the 2016 points are actually 2015 points banked and there are no 2016 points as they are used, so that changes the deal considerably. I would use the 200 points in Jan 2018, borrowing 2018 points and that would put me in deficit till mid 2019!! Your advice has been very helpful.

 

[Kwkiwi]

Thanks nickys. Much appreciated.

 

[Kwkiwi]

A couple of technical question here...

If you banked your points for Sept 2017 use year at the latest date which is April 2018. Does that then freeze those points and they are then not available to use till Sept 2018?

If I had say 100 points to rent are the rental companies able to take the whole block of points or do they come back sometimes and say 'we only need for eg 75 of them' etc? Leaving you with 25 to deal with or write off.

 

[dreamfinder]

A couple of technical question here...

If you banked your points for Sept 2017 use year at the latest date which is April 2018. Does that then freeze those points and they are then not available to use till Sept 2018?

If I had say 100 points to rent are the rental companies able to take the whole block of points or do they come back sometimes and say 'we only need for eg 75 of them' etc? Leaving you with 25 to deal with or write off.

As soon as you bank or borrow points, it changes their year they can used. Once you bank your points for a given year, you can only use them the following year. If for some reason your plans changed and you wanted to travel this year, you would need to borrow from the points from next year.

The brokers will try to fit a request to a contract as best they can. If there are extra points left over depends on where you own, when they go up for rent, and what exactly the broker needs. They cannot combine points from multiple owners. Using points from multiple owners would result in multiple reservations, possibly having the guest need to change rooms mid trip. You can transfer points to someone else (can only be done once a year) but doing so for any sort of payment is explicitly prohibited.

 

[nickys]

Hi! Looked again just now, for 10th to 17th. The 10th is unavailable but it's now 3pm or so EST. Also checked the booking info, it opens from 8am EST. That's 1pm for us in the UK, so 9pm in Perth from the top of my head, midnight for you? If I remember I will try and check tomorrow right at opening for you, see if a studio is available, and for how long after.

Me again! OK, I've done some checking on consecutive days.

So on each day, checking an hour or so before the 7month booking window opens there is availability for all villa types. As soon as that magic window opens though all but 2 bed villas are gone. I think this is going to scupper any idea of booking a studio at the 7month mark unless you are incredibly lucky. Sorry to dash your hopes.