New to buying DVC

[DanCio]

So, I’m thinking about purchasing a DVC membership. I’m just starting research. Obviously, I am coming up with more and more questions. So, here they go. I’m in between buying Direct and buying Resale. I have not yet had a tour of the properties but have spoken to two DVC reps and got the printed info in the mail.

I’m 61, divorced, no kids. I used to go to Disney a lot, 3 to 4 times a year for several nights. I had some things that took my time away for a few years and now I have the time back. I live about a two hour drive from Disneyworld, south of Tampa Bay.

Since I’m a Florida resident I get annual passes with great pricing. I avoid Christmas, New Years, Easter and summer. I was once in Epcot on New Years Eve and was one of 250,000 people at Disney that night. It took us 2 hours to get back to our hotel. Never again. And besides there is more than enough to do outside the parks. I usually go to F&W and F&G. I can save $130 a year over the Gold AP (no DVC discount) by going with the Silver AP.

Ideally I want points at BWV. My 2nd choice would be BCV or OKW. It may sound morbid, but by the year it expires I’ll be dead. So the year it expires isn’t all that important to me. Who I leave it to in my will, will sell it if I don’t sell it beforehand. I tend to go to Epcot more than any other park, Magic Kingdom next, Hollywood Studios next and Animal Kingdom last.

I’m looking at getting somewhere between 80 and 170 points. I haven’t heard from Disney yet about how much it would cost direct. Resale is costing between $17K for 130 points to $21K for 170 points. Compare to Copper Creek today its $27K for 170 points. There are considerable savings out there.

DVC benefits aside, because they can change and I only plan on using DVC in Orlando, I don’t need Disney or Concierge Collections, RCI or anything like that. I’ve already been on a Disney Cruise. Don’t need that either. With an annual pass I get more discounts, more places that offer them and more of a discount on many items. Every benefit the Disney reps mentioned I also get with an annual pass at a greater discount. The only thing I might miss is lounge access.

My FICO scores are around 660 so I know I’ll be paying a premium. They should increase by year end to around 700. I’m in no rush to buy. Most resales don’t have points available until later in 2019 anyway.

I’ve heard and read several options:

1. Buy low, 75 points, the minimum which will get me the benefits and rent or buy additional points as I need them.
   
2. Buy really low, 25 points, so I can book at 11 months out and rent the remainder.
   
3. Buy really low, 25 points, so I can book at 11 months out and buy resale for the same property.
   
4. Buy Resale outright.
   
5. Buy Direct outright.
   

With all this, what are your opinions on all this??? Thanks in advance.

 

[chalee94]

1. Buy Resale outright.

There is no financial advantage to buying direct since you already get FL resident deals.

The only concern is whether you want to plan 10-11 months in advance to book your stays. DVC isn't a great choice for last minute booking.

 

[aoconnor]

Since you already get the same AP discount being a Florida Resident I'd say there's zero reason you should buy direct. It's the only perk that has any monetary value. Either save thousands buying resale, or pay the same amount and get more points.

Keep in mind that even though you might only live a few hours away you'll need to book your trips 7-11 months in advance with DVC. It's not meant for spur of the moment trips.

I will say that if you are buying a more expensive resort like BWV and financing it you won't be saving much versus just renting points-- in fact you'll likely pay more. If you pay $115 per point for BWV and finance 80% of it at a 12% interest rate you'll be paying $11 per point in interest each year plus the maintenance fee of $6.55 for a total cost of $17.50 per point a year. You can rent points for less than that and not have to deal with the costs and commitment of buying. Interest rates on these loans is very high.

 

[Stitch808]

Buy resale outright. You already get the great FL resident benefits and the AP discounts are usually in line with or better than the DVC discount. The DVC lounges will come and go, but you will still have access to TOTWL with resale points. Keep in mind, you'll need to book at the 11 month window so buy where you want to stay.

 

[kniquy]

The only thing I might miss is lounge access.

In your situation it really sounds like buying all your points resale is the best situation. Neither of the lounges are that necessary. Epcot lounge is nice but not worth the extra $$ for direct. We visited had a soda and snack and were out in less than a half hour. I'm not sure about the TOWL if current resale can go, again not a necessity because you can always go to the cali grill lounge.

As for resorts it does sound like your preference for parks would lead you to buying BWV or BC. BWV is slightly cheaper than BC so if cost is a factor then i would go BWV -- gets you the same location essentially, but you just wouldn't have the access to the BC pool.

 

[_auroraborealis_]

If you want BWV or BCV buy resale and be prepared to book 11 months out. Neither will be a good choice for last minute bookings.

 

[CraigInPA]

Agree with everyone else, buy everything resale.

The only "lounge" you'll miss out on is in Epcot, at present. It's unknown whether that will eventually disappear, or be augmented by others in MK, DHS, and AK.

Top of the World Lounge is open to all DVC members, resale and direct.

 

[kboo]

I would rent points, see @aoconnor's post above. Or, at least rent a few times to see how things shake out as far as availability and confirming where you like to stay, and then see.

 

[zavandor]

Buy really low, 25 points, so I can book at 11 months out and buy resale for the same property

I'm not sure to understand what you mean with this. However, just to clarify, you get to book at 11 months with resale points as you would do with direct points, you do not need direct points to book at 11 months. When booking DVC resorts (the best use for points) resale and direct are identical.
Also, another common question is: if I own 25 points at a resort and hundreds at another, can I combine them at 11 months? The answer is no, points keep their own resorts and can be used at 11 months at their home resort.

You said you're not in a hurry to buy, then this is what I would do: every month put on a saving account the amount you would pay if you bought direct and financed. After a few months you'll have a budget that will allow you to start looking for a small contract. If you find something you like and reasonably priced make an offer, otherwise wait. Over time your budget will increase and you'll be able to purchase a bigger contract that would probably grant you a better deal. If you buy a small contract, start using it, understand the system better, stay at a few resorts to find your real favorite (even if it looks you're set on Crescent Lake), continue to pay in the savings account so you can add-on later on. Avoid paying interests on financing, they really suck out any saving out of the deal.

 

[DanCio]

One thing about me, I don't really care where I stay except for F&W in the fall and F&G in the spring. Especially for F&W I'd book 11 months out. The rest of the time I'll take what I can get. I've stayed at every resort except AKL and WL. I was at SSR back when it was the Disney Institute. So there isn't any "I need to stay at specific resorts so I can say I've been at them all". It's Disney, even at an All Star you get exemplary service. If I have to reach for a 1 or 2 bedroom a couple of times a year so be it.

 

[KAT4DISNEY]

One thing about me, I don't really care where I stay except for F&W in the fall and F&G in the spring. Especially for F&W I'd book 11 months out. The rest of the time I'll take what I can get. I've stayed at every resort except AKL and WL. I was at SSR back when it was the Disney Institute. So there isn't any "I need to stay at specific resorts so I can say I've been at them all". It's Disney, even at an All Star you get exemplary service. If I have to reach for a 1 or 2 bedroom a couple of times a year so be it.

That's good you can plan on using the 11 month window.

I 100% agree that there's no reason to buy direct. Buy resale and buy what you can without financing.

For BWV it's $171/point direct and it seems like they've placed a 100 point minimum purchase for new members. DVC News keeps up information on current direct pricing. https://dvcnews.com/index.php/dvc-program/financial/pricing-a-promotions So somewhere in the $50-$60/pt premium over resale.

I'd recommend planning on the point requirements for pool/garden view vs standard view for F&W. If you get standard, great, but it's a smaller category and very popular, especially for that time. For F&G it will be more likely to be able to book standard view right at 11 months.

SSR is still the best financial deal if you wanted to considering purchasing there and then seeing what's available at 7 months and/or using waitlists since you're not completely tied to any particular resort. You would still want to book during the home resort priority and F&W would be the most difficult to change out but F&G should have options. SSR has a little lower purchase price than BWV and it has lower dues as well as a low point standard room category. It's a good value.

Resale purchasers - ie those with non-qualified points - can still go to TOTWL at BLT and you can pool hop should you wish. RCI is also still an option for trading although the value in doing that really isn't there. And of course you could book a DVC room at VB, HHI, VGC and Aulani should you decide to ever venture off property with your DVC.

 

[The Jackal]

First thing, it’s my understanding that the only way you can purchase 25 points direct is to already own a DVC contract. Resale 25 point contracts are few and far between and have a premium price. I think you would need to buy 75 direct if you are not a DVC owner. I could be wrong. Even DVC members have to buy 75 at CCV. If you want to buy, I recommend resale at BWV since Epcot is your favorite theme park. Lower maintenance fees than Beach Club. There are more rooms than BC. So getting rooms is easier. A short walk and your there. You can already buy an annual pass since you are a FL resident, so no need to own direct. Good luck on your choice.

 

[DizBub]

If I were you with your situation I would buy BWV resale. Book your annual F&W/F&G trips at 11 months to get standard views, there is huge point savings there and the rest of the time get what you can on short notice. Sounds like a plan to me.

 

[DaveNan]

One thing about me, I don't really care where I stay except for F&W in the fall and F&G in the spring. Especially for F&W I'd book 11 months out. The rest of the time I'll take what I can get. I've stayed at every resort except AKL and WL. I was at SSR back when it was the Disney Institute. So there isn't any "I need to stay at specific resorts so I can say I've been at them all". It's Disney, even at an All Star you get exemplary service. If I have to reach for a 1 or 2 bedroom a couple of times a year so be it.

1BR's are way more available at 7 months. Excluding the high demand spots (std view BWV and BLT, value AKL) you typically get at least "spotty" availability year round, excluding the fall frenzy "mostly" to "open"