Mechanics of buying DVC

[Donald is #1]

So, my trip to WDW is only 11 days away and I have been researching DVC for a few months. My current plan is to take a tour of DVC while I am on my trip. If I like the look of the DVC units and if I don't find myself bored by my second WDW trip in less than a year (the horror --- I can't image that happening!), then I will be buying in. My current plan is to buy direct from WDW if I decide on AKV or buy resale if I decide on a different resort.

OK, here comes my question. If I do decide to buy AKL, I believe that there is an incentive to buy within a few days of my tour of the DVC. I have the money saved so most likely I won't be financing. So, how do I actually pay for the DVC if I am not financing (i.e. I will need to transfer funds & I don't plan on having my check book with me)? Can I give a down payment with a credit card and then send a check for the balance once I get home? Or am I better off financing and then paying off the loan right away?

Thanks everyone!

 

[Boston5602]

Good choice to go down and look at the resorts to see which is for you.

At the time you decide to purchase with Disney, they will ask for your info if financing and a $500.00 deposit . I put my deposit on a credit card . You could put it all on a credit card if you want to , they will work it out to charge it over a period of time. That way you could get some credit card rewards / points.If not you could mail them a check after getting home.

Good luck and have fun exploring DVC !

 

[casper]

I bought in last October. My use year was Dec. They allowed me to split the total over a two month period so that I could use my credit card (up to my credit limit). I also had the money saved up so paid my credit card off without interest. This allowed me to get 1% back. A small discount but worth it anyway. They will also accept a personal check from you.

Good luck with your decision. Give us a report back on your second trip. Also remember, when you become a DVC member, you tend to vacation at Disney a little differently. It's a lot of fun. Have a GREAT trip.

 

[CarolMN]

We paid by check - no problem. I know you said you wouldn't have your checkbook with you, but you may want to reconsider if you are serious about buying. The WDW resorts have wall safes and that was where our checkbook was when we decided to buy in 1999 (took tour thinking we'd end up resale, but DH said BWV or nothing so I jumped on it as I thought he'd be totally against DVC and was prepared to do lots of convincing). Our guide sent me back to the room in the DVC van to get it, LOL.

Also, if you decide to put it on your credit card (and just pay off the credit card in full when it's due), be sure you have a high enough credit limit.

Good luck!

 

[Granny]

Also, if you decide to put it on your credit card (and just pay off the credit card in full when it's due), be sure you have a high enough credit limit.

This is good advice. On other thing on your credit card. You might want to contact your credit card company first to let them know what you will be doing. This will be a large purchase which will set up flags in the system. And depending on your credit limit, they could hold off on further charges on that card until you paid off the balance.

That's what happened to us, and a little communication up front could save you some headache. It was worth it to get the reward points though!

 

[Donald is #1]

Excellent advice everyone, thanks! I will definitely check the limit on the credit cards that I will have with me. Thanks for the suggestion on calling the credit card company. I didn't think of that! CarolMN, I will give soem thought to bringing a check, I just feel a bit more comfortable traveling with credit cards.

I'll let everyone know how I made out when I get back in mid-May.

 

[Donald is #1]

Hi everyone! Yes, I did it; I purchased 160 points at AKV yesterday. I ended up with an August use year. I had been oscillating for a few weeks and during the SSR portion of my trip between SSR and AKV. And then.... I walked into my savannah view room at AKL and saw the view outside my window. Yes, the decision was made very quickly!
On my first visit to AKL on the 8th (dinner at Boma) it seemed very dark to me so I actually started leaning more towards SSR. But when I checked in for the AKL portion of my trip, it didn't seem as dark and then I saw my room view and the decision was made.

As for paying for it, I ended up paying 50% on my credit card and then they are going to charge my credit card for the remainder next month. It ended up being very easy and probably took me 2.5 hours total (1 hour for my first visit to the DVC center at the beginning of my trip and about 1-1.5 hours yesterday for a second visit to look at the AKV models again and to sign my paper work).

 

[DVC Grammy]

Congratulations and !

 

[MrsHerbie53]

When you buy during a vacation, do you get any benefits such as credit towards your points of your trip costs or something that you wouldn't get by calling to buy?

Thanks. AND CONGRATULATIONS!

 

[disneynutz]

Hi everyone! Yes, I did it; I purchased 160 points at AKV yesterday. I ended up with an August use year. I had been oscillating for a few weeks and during the SSR portion of my trip between SSR and AKV. And then.... I walked into my savannah view room at AKL and saw the view outside my window. Yes, the decision was made very quickly!
On my first visit to AKL on the 8th (dinner at Boma) it seemed very dark to me so I actually started leaning more towards SSR. But when I checked in for the AKL portion of my trip, it didn't seem as dark and then I saw my room view and the decision was made.

As for paying for it, I ended up paying 50% on my credit card and then they are going to charge my credit card for the remainder next month. It ended up being very easy and probably took me 2.5 hours total (1 hour for my first visit to the DVC center at the beginning of my trip and about 1-1.5 hours yesterday for a second visit to look at the AKV models again and to sign my paper work).

Congratulations

 

[blossomz]

Congratulations and Welcome Home! Hope to see you around the lodge sometime!

 

[goldilocks_63]

and then, there was a party and cake....

Hip, Hip, Hooray!

WELCOME HOME, GOldi

 

[Donald is #1]

When you buy during a vacation, do you get any benefits such as credit towards your points of your trip costs or something that you wouldn't get by calling to buy?

Thanks. AND CONGRATULATIONS!

In my case (& I think anyone else buying before the beginning of June), if I bought within 2 days of the end of my trip, then I would get the discounted point cost for either AKV & SSR. Otherwise it is over $100 per point. Since I had pretty much made up my mind before my trip with the real question being which resort, it was easy for me to commit during my vacation. The interesting part was that I had been reading the DIS boards prior to my trip and I knew that there was a price per point discount being offered for SSR & AKV. Well, when I stopped at a DVC booth to make an appointment, the CM told me that the discounts were over for first time buyers. But when I was at my appointment, the CM asked when I was leaving and then told me if I bought within 2 days of coming home then I would get the discount. So I am not sure if the discount was just due to the current promotion or if they always offer a discount if you buy onsite.

 

[jerry557]

Depends on the type of contract. But if you finance the amount, they usually take a deposit of around $500 and then the full down payment is due within 30 days. The points are available to you when the contract closes.

That is unless the policy has changed recently....
I believe also they can do it retroactive if you want. In other words if you buy while on vacation and staying at a deluxe resort, they can apply the points to your current vacation. In other words, Mickey Mouse gives your money back that you spent on the room you are in. You don't have to do that, sometimes it isn't financially worthwhile. But it can work in certain situations.

As for what resort to buy at? You have a choice between AK or SSR right now. The only advantage is the 11-month booking window. So I suggest you buy at the resort you like the best.

 

[Caskbill]

Welcome Home!

Your choice to buy AKV may have been a good one. It's unknown at this time but most likely AKV will be a popular resort, and having the 11-month booking window there may be more important. SSR is a large resort and using your AKV points to book there at 7-months probably won't be too hard.

The best thing about DVC is that you can stay at any of the resorts. But of course, you already knew that....

 

[CarolMN]

Congratulations and welcome home!

 

[cruiseletters]

Congratulations, It's one of the best things we've done. You'll love it

 

[Donald is #1]

Thank you everyone! I bet that within a year or two I may be adding on. Those one bedrooms look a lot nicer than the studios. But of course I only need a studio. plus both of my sisters are already plotting the use of my points. I believe the term "grand villa" has been used by them.

 

[CarolMN]

...(snip)..... plus both of my sisters are already plotting the use of my points. I believe the term "grand villa" has been used by them.

Tell 'em you'll contribute one half of the referral reward so they can afford their share of the Grand Villa as brother dear's "Grand Wallet" isn't quite that Grand, LOL.

 

[nuts]

This is good advice. On other thing on your credit card. You might want to contact your credit card company first to let them know what you will be doing. This will be a large purchase which will set up flags in the system. And depending on your credit limit, they could hold off on further charges on that card until you paid off the balance.

That's what happened to us, and a little communication up front could save you some headache. It was worth it to get the reward points though!

Disney will let you split up your billing to your CC over several billing cycles (interest free). I had them do that so I could maximize the credit card points (which paid for my family's air for our first trip).