# Buy now or wait???



## unacorny (Aug 31, 2009)

Hi everyone,

I need some advice. We have finally decided to take the plunge and purchase DVC I contacted my guide and we have narrowed it down to either 100 points at SSR @ $102p/p or 160 points at OKW (extended contract) for $101p/p. I have several issues that I need worked out. 

[Out of compliance info. deleted.]  If I already have a guide, can I still use a referral? Are the rates I am getting directly from DVC really the best they can do right now? Would I do better to wait it out a month or two to see if they go back down? 

When I spoke with my guide yesterday, we talked about getting me a contract with 2008 banked and 2009 when I buy, but I would need to buy soon to get the 2008 points. I forgot to ask if I would be paying the MF for the 2008 points. Does anyone know about that? 


I have been all over the internet trying to find resales that will finance. (Please, no lectures on financing, I will be paying it off in 6 months and I need it now to get my June 2010 booked). It seems that no one is financing resales anymore. I found one place but my credit score is just below what they want. Any suggestions on other companies? A HELC is not what I want and no personal loans. I do not mind a higher interest rate since it is only temporary.

The other problem is deciding which resort.

1. I REALLY want OKW but would settle for SSR if I have to.
2. I only wanted to start with 100 points, but they will only sell me 160 at OKW. 

Any advice would be helpful as we need to decide soon. I am also concerned that DVC prices will start to rise as more people start getting wind of the new Hawaii resort. It makes DVC all that more appealing! 

THanks a bunch!


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## GadgetRick (Sep 1, 2009)

Buy now or wait is always the question when you're buying something. If you're stretching to buy now, I'd say wait until you're in a better position. If you're not stretching--and don't anticipate a negative change in your financial future--then buy now. DVC doesn't really offer much in the way of discounts directly most of the time. However, you can probably buy into BLT for about the same $$ per point. I used to own OKW and I'd much rather own BLT because of the location. Don't let them make it seem like you'll be able to get a room anywhere, you used to be able to but it's much more difficult these days (although not impossible). You should buy where you'd like to stay.

Financing resale--as you've found--isn't gonna happen these days. Banks have tightened up everything. I'd say it's not an option.

In short, I wouldn't expect price cuts, they may happen but I'd be surprised.


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## bnoble (Sep 1, 2009)

It sounds like you're not ready to buy.  I would not expect the price to go down, but I would consider waiting until you can pay cash for a resale.  The difference (about $25-30pp) will be substantial, and it will be easier to get the size (100pt) you want.  You can rent your June 2010 reservation for $10pp, and still come out ahead.


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## logan115 (Sep 1, 2009)

If you're going to be able to pay it off in 6 months, then just wait 6 months and go resale.  More choices around the contract size (smallest contract is 25 pts), Use Year, and more importantly a HUGE discount in the price.

100 pts @ $102 is $10,200 (I know, I'm the master of the obvious), you can most likely buy a 100 pt SSR/OKW resale in the mid-$70s - so you may not even need to wait the full 6 months !!

Someone over on Mouseowners.com reported last week that a 190 pt OKW contract loaded with 2008, 2009, and 2010 pts passed ROFR @ $52 !!

This was a 2042 expiration, but still ............

Disney will still be there in a few months, save your cash for a few months, then go resale and get the contract size that you really want, at the resort you want, otherwise you're overpaying for something that you really don't want.

Good luck,

Chris


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## littlestar (Sep 1, 2009)

I would wait until I could pay cash or if you are going to pay it off in six months, maybe use a low interest credit card offer. 

We picked up 100 SSR points resale for $71 a point. I just couldn't see giving DVC almost $2,500 more by doing my SSR add-on points direct. 

I've heard of some people getting 100 SSR points for around $65 a point resale - that's a terrific price.


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## longtimer (Sep 1, 2009)

If you are having a hard time coming up with the cash right now, hold off until you can buy resale. Keep in mind that you will also have to pay annual maintenance fees. Can you afford those? With the economy so uncertain, you don't want to put yourself in a tight financial bind and regret the purchase.


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## lark (Sep 1, 2009)

I think paying $101 for more points than you want at OKW is a spectacularly bad idea just to get a June 2010 reservation.  

OKW resales right now are in the low $70s per point, even for the extended contracts.  To overpay by $30 per point seem excessive, particularly if to get it you need to buy 60 more points than you really want.  As for member referral incentives, I don't think any are available at OKW right now.

If you really have $101 to spend on 160 points through DVC, why not buy one of the newer resorts?  You could get BLT for this right now.  You could get AKV for even less with a member referral.  I guess if you only want to stay at OKW, then that's not really so wise, but you should be able to book OKW at 7 months reasonably often.

Anyway, back to the main point, if it were me, I'd either rent points or make a cash reservation for OKW for June 2010, and then purchase a 100 point OKW resale and pay it with a credit card.  You're still going to come off much better off.  Even at 22 percent, if you pay off in 6 months, you're still way ahead.  And if you buy a loaded contract, you can easily just rent your points out as soon as you close to defer the cost of your 2010 vacation.


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## tomandrobin (Sep 2, 2009)

DO NO BUY SSR OR OKW DIRECT FROM DISNEY!!!!!

But resale!!! You will save about 40% of the cost. 

If you need any contact information for some DVC resellers, send me a PM.


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## unacorny (Sep 3, 2009)

Thank you all for taking the time to respond. I see what you all are saying...I am a little worried that if we wait we will not get the rooms we need, there are 7 of us going so we will need 2 studios or a two bedroom. I just have a hard time paying cash again, last year we spent over $2k just for accommodations and this year we will double that if we book rack rates. I just can't see paying cash when I could dump that into DVC and have something for my money. 

Is this an option?...

If I book our rooms now through the regular Disney site, and in 3 months pay cash for a resale, would I be able to convert my standard reservation to a DVC and use my points to pay for it? At least the rooms would be held and I would get my deposit back.

Any thoughts?


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## alwysonvac (Sep 3, 2009)

*Do the math...*

160 pts @ $101/pt (developer price) = $16,160
160 pts @ $60/pt (resale price) = $9,600 + $3,000 (renting from a DVC member @ $10/pt) for June Reservation = $12,600  
*You'll still be ahead even if you pay cash for the June Reservation*

NOTE:OKW 2009 MF is $4.73/pt. So renting from a DVC member is a little more than twice the annual MF. 
See DVC annual MF history and DVC point chart - http://www.tugbbs.com/forums/showpost.php?p=637234&postcount=2
See recent thread about Disney rentals - http://www.tugbbs.com/forums/showthread.php?t=102103

Here's a report of a recent purchase that passed ROFR (OKW 190 pts., '08's banked, all '09 and '10 pts. paid no closing....$52/pt!!!!) - http://www.mouseowners.com/forums/showthread.php?t=28109

DVC listings from the Timeshare Store - http://www.dvc-resales.com/dvclisting.cfm (NOTE: These are asking prices).

Good Luck


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## bnoble (Sep 4, 2009)

> Any thoughts?


The prior poster is right on the money, and it's the same advice I gave you, but the prior poster has lot more detail for why it's the right thing to do.

Don't let your desire "to belong" cloud your judgement about the best way to get there.


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## tomandrobin (Sep 4, 2009)

unacorny said:


> If I book our rooms now through the regular Disney site, and in 3 months pay cash for a resale, would I be able to convert my standard reservation to a DVC and use my points to pay for it? At least the rooms would be held and I would get my deposit back.
> 
> Any thoughts?



You can not convert cash reservations to DVC reservations. If you cancel a cash reservation you will get your money back (I think you need 3 days notice). 

The closer you get to your check-in date, the harder it will be to get your desired rooms.


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## GadgetRick (Sep 4, 2009)

bnoble said:


> Don't let your desire "to belong" cloud your judgement about the best way to get there.


Exactly, rent points for your stay then buy when you can buy resale. DVC isn't going anywhere...


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## luvsvacation22 (Sep 4, 2009)

Great information! I would also advise not to finance, but I do not know your overall financial status, and only you know your own personal risk. I have read that some people do finance DVC short term and pay it off within six months. 


Either way it is still good for you to research DVC and here are some great links.
www.mouseowners.com

Choosing your Home Resort
http://www.mouseowners.com/forums/showthread.php?t=

What is DVC-Program Basics
http://mouseowners.com/info/browsecategory.php?c=5

Current Incentives
http://www.mouseowners.com/forums/sh...ad.php?t=14494

Comparison Resale vs Direct
http://www.mouseowners.com/info/show...?e=167&catid=9

Good luck! 

Dorene


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## longtimer (Sep 4, 2009)

We got a suite at the All-Star Music (the only economy hotel offering family suites) so that we would have access to a fridge and some kitchen facilities (microwave and sink). You get 1 private BDRM and two full size bathrooms. The sofa converts into a Queens size bed and the two chairs each into a single bed. It could easily sleep six. Staying on Disney propertly gives you access to resort transportation plus the morning and evening extra magic hours. It was a good compromise for us because with two teens, a regular room is so cramped. And it was still cheaper than renting points from an Disney owner.
It's easy to get caught up in the magic of Disney. We were very close to buying resale points when we got home. But since it's such a long drive for us from PA, we typically only travel there every three or four years. When we weighed the cost of ownership against other options, and considered how tight the purchase would be for our budget right now, we decided not to buy right now. Perhaps sometime in the future....


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## jstapleton (Sep 6, 2009)

tomandrobin said:


> DO NO BUY SSR OR OKW DIRECT FROM DISNEY!!!!!
> 
> But resale!!! You will save about 40% of the cost.
> 
> If you need any contact information for some DVC resellers, send me a PM.



Hi. We are currently looking to purchase 300 SSR points.
When quoted yesterday, it was $102 (discounted LOL from  $112) and would give me an "extra" 300 points come February (really getting I guess 09 now and '10 at February).

Can you give me more information.  I will not be financing.
Thank you.

Also, let me ask this if  I may.  What if I purchased 150 points at one resort and 150 at another resort, for instance BWV. Would that give  me the option to  book either as my home resort at 11 months out? Although I love the location of BLT, the furnishings aren't to our taste. We love the layout of the three bedroom at SRR. Thank you very much.


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## tomandrobin (Sep 6, 2009)

jstapleton said:


> Hi. We are currently looking to purchase 300 SSR points.
> When quoted yesterday, it was $102 (discounted LOL from  $112) and would give me an "extra" 300 points come February (really getting I guess 09 now and '10 at February).
> 
> Can you give me more information.  I will not be financing.
> ...



We bought SSR 400 points with 08, 09, 10 points for $62.50 a point.I am not home right now. Ill send info.


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## luvsvacation22 (Sep 6, 2009)

jstapleton said:


> Hi. We are currently looking to purchase 300 SSR points.
> When quoted yesterday, it was $102 (discounted LOL from  $112) and would give me an "extra" 300 points come February (really getting I guess 09 now and '10 at February).
> 
> Can you give me more information.  I will not be financing.
> ...



Yes, you would have the 11 month advantage at both resorts, but you could not combine points until the 7 month window.


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## GadgetRick (Sep 7, 2009)

jstapleton said:


> Hi. We are currently looking to purchase 300 SSR points.
> When quoted yesterday, it was $102 (discounted LOL from  $112) and would give me an "extra" 300 points come February (really getting I guess 09 now and '10 at February).



Forget SSR for that price you can buy into BLT...much nicer for sure and much more convenient. If you REALLY want SSR, buy resale. You'll save a TON of money.


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## jstapleton (Sep 8, 2009)

GadgetRick said:


> Forget SSR for that price you can buy into BLT...much nicer for sure and much more convenient. If you REALLY want SSR, buy resale. You'll save a TON of money.



Thanks. We are purchasing resale. Have two other t/s so know resale is the way to go. Although the location of BLT is wonderful, the furnishings are not to our taste. The three bedroom grandvillas at SSR are beautiful and we always rent a car so although walking to MK is wonderful and the monorail is nice, it doesn't excite me.
Thank you though. We saved about $10,000 with our offer and now waiting for it to pass (hopefully) ROFR.
Will keep posted.


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## GadgetRick (Sep 9, 2009)

jstapleton said:


> Thanks. We are purchasing resale. Have two other t/s so know resale is the way to go. Although the location of BLT is wonderful, the furnishings are not to our taste. The three bedroom grandvillas at SSR are beautiful and we always rent a car so although walking to MK is wonderful and the monorail is nice, it doesn't excite me.
> Thank you though. We saved about $10,000 with our offer and now waiting for it to pass (hopefully) ROFR.
> Will keep posted.


Awesome! Enjoy your membership. We did when we had ours and we plan to buy back in once times aren't so tough.


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## elaine (Sep 13, 2009)

*you should be fine--we bought resale and booked June in Jan*

2 years ago, we placed offer in Nov and closed late Jan.  We had no issues booking for late June at OKW or SSR.  I really think you are 99% safe buying resale in October and booking OKW after you close.  If you get a resale offer in soon, you could be able to easily close the the end of the year.  Unless you are going to be short of points, I would not even bother to rent points for next June. good luck and have fun! Elaine


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## unacorny (Oct 4, 2009)

I just wanted to update and say thank you to everyone who responded. I did actually listen to the advise!  There were many factors that played into our final home resort choice, when to buy, how to buy, how many points to buy and who to buy through. After many months of searches, emails, phone calls, web casts and messages we finally made our decision and actually bought at AKV instead at the other resorts we were considering. Thanks to spreadsheets and Excel, we also made the best financial choice for us as well! We ran the numbers and we are officially coming out ahead buy buying now with our strategy and not renting in June!!!  We are very happy with our decision and it was the best choice for us. You guys were a big help! Thanks again! :whoopie:


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## littlestar (Oct 4, 2009)

Congrats on your points. Thanks for letting us know how it turned out.


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## DVC Mike (Oct 5, 2009)

unacorny said:


> we finally made our decision and actually bought at AKV instead at the other resorts we were considering. Thanks to spreadsheets and Excel, we also made the best financial choice for us as well! We ran the numbers and we are officially coming out ahead buy buying now with our strategy and not renting in June!!! We are very happy with our decision and it was the best choice for us. You guys were a big help! Thanks again! :whoopie:


 
Congrats on your AKV purchase!


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## luvsvacation22 (Oct 5, 2009)

Congratulations and Welcome Home!  :whoopie:


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