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So how bad did our friends get taken?

RonB

RonB

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They just bought $25K worth of points from Disney Vacation Club. My wife talked to her best friend and did not know to ask how many points they purchased, but it was from DVC.
The friend was happy because they did not buy a timeshare, but got points instead. :doh:
I'm just curious because the husband is never wrong, so suggesting they might want to rescind is not in the picture ~ Ron
 
RonB said:
They just bought $25K worth of points from Disney Vacation Club. My wife talked to her best friend and did not know to ask how many points they purchased, but it was from DVC.
The friend was happy because they did not buy a timeshare, but got points instead. :doh:
I'm just curious because the husband is never wrong, so suggesting they might want to rescind is not in the picture ~ Ron
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You'd have to know how many points and at what home resort. DVC has FAR more residual value than most other systems.

And, if he's happy, he's happy. You don't have to be right here. :)

I'm-a guess 100 points....
 
Most likely 160 pts.

But at least DVC is not one of those timeshares that is only worth $1 after you purchase it.

Resale would have likely been a better deal, but direct purchases don't sock it to you like most other timeshares.

But they will need to come to the realization eventually that it still is just a timeshare. If they don't put in the time to research how it works, they will wind up disappointed and having wasted some money...
 
If the want to stay at DVC all the time, buying there is great. In fact, over time, the cost of points generally goes up. So, they could use what they bought for a few years and sell for more than what they paid for it. That's what I did.
 
I would have to say out of all the TS systems I have researched, Disney is one that holds the most value if/when you ever want to get rid of it. If they want Disney to stay at Disney Resorts....then good for them.
 
presley said:
If the want to stay at DVC all the time, buying there is great. In fact, over time, the cost of points generally goes up. So, they could use what they bought for a few years and sell for more than what they paid for it. That's what I did.
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My Villas at Grand California (bought resale) has gone up in value by $55/pt. it's worth about $5000 more than I paid for it. This stupefies me. It's a timeshare.

It makes me feel like I should sell it before the market collapses. But they're putting in the new Star Wars land, I actually think this TS will continue to appreciate for a while.

Plus I want to bank/borrow and spend a week at Aulani.
 
DVC is definitely the exception to the rule when regarding depreciation!
 
I guess I am the kind of friend that would tell them to cancel or get a better deal at the minimum. Sure Disney holds their value better but there is still a drop. If I can save a friend money that is important to me.
 
am1 said:
I guess I am the kind of friend that would tell them to cancel or get a better deal at the minimum. Sure Disney holds their value better but there is still a drop. If I can save a friend money that is important to me.
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That/s my normal inclination too, but my wife sez not to, and I don't think they would listen anyway, so I'm going to leave it alone.

Thanx everyone for the comments. I feel better after the positive comments posted ~ Ron
 
If your friend bought from disney over paid by anywhere from 10% $2500 (new resorts) to 40+% $10,000 for older resorts too much.
 
indeed, its certainly their mistake by not even checking out the resale market options even for DVC.

probably wouldnt hurt to mention it!
 
RonB said:
That/s my normal inclination too, but my wife sez not to, and I don't think they would listen anyway, so I'm going to leave it alone.

Thanx everyone for the comments. I feel better after the positive comments posted ~ Ron
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A good friend would let them know that they did indeed buy a timeshare since they have travel opportunities beyond the mouse and will eventually get scam calls.

They need to understand that the value of a 2 br Dis is much higher than 2 br somewhere else so it would be helpful to suggest that when they can't use, rent it out and use that dough to pay annual maintenance vs attempt to trade. Owning at the top of the food chain means any trade is not a good one. If in the future they tell you about trades they made, be as happy about it as they are and remember that you tried. That is all you can do.

Be happy that they are happy and leave how much they paid for what out of it since it is apparently not a problem for them. Keep the friendship and don't fret over how they spend their money.
 
geekette said:
A good friend would let them know that they did indeed buy a timeshare since they have travel opportunities beyond the mouse and will eventually get scam calls.

They need to understand that the value of a 2 br Dis is much higher than 2 br somewhere else so it would be helpful to suggest that when they can't use, rent it out and use that dough to pay annual maintenance vs attempt to trade. Owning at the top of the food chain means any trade is not a good one. If in the future they tell you about trades they made, be as happy about it as they are and remember that you tried. That is all you can do.

Be happy that they are happy and leave how much they paid for what out of it since it is apparently not a problem for them. Keep the friendship and don't fret over how they spend their money.
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This is really good advice, imo, and has pretty much been my approach for the last 5 years.

I am often told of the purchase too late to do anything anyway and am often told of how these purchases did not meet the reservation expectations. Anymore I just offer the advice of making the reservation asap. ;)

Bill
 
We brought direct from Disney prior to a pre-owned market. We could sell today for 50% more than we paid. We never trade because, aside from all the family wanting to constantly go there, we can (and have) quickly & easily rent our points for 2 x MF and then use the cash however. Our renting points to others has resulted in some pretty amazing trips and leveraging of our MFs. But staying on the property is even better.

Your friend clearly could have bought for less, but the renting for 2 x MF is his right now and if it made sense for him staying there, then maybe not getting the best deal is not such a bad thing anyhow.
 
easyrider said:
This is really good advice, imo, and has pretty much been my approach for the last 5 years.

I am often told of the purchase too late to do anything anyway and am often told of how these purchases did not meet the reservation expectations. Anymore I just offer the advice of making the reservation asap. ;)

Bill
Click to expand...

There is only a 10 day recession period. If it's past 10 days after purchase, then there's no reason to say anything about the resale market. That being said, the resale market is, IMO, the best way to purchase dvc UNLESS you want to stay primarily and only at disneys newest timeshare location, the Polynesian.

They probably purchased appx 150pts, which is enough for a week at their home resort, the Polynesian, depending on the season (give or take a few days). It's a wonderful resort, with rooms retailing at appx $500/night on average... So if they plan on going to DW regularly, it's a decent investment. If they were to sell their timeshare right now, immediately after buying their dvc, they would likely only lose 25% of their purchase price. This is assuming they bought at the Polynesian in Orlando, verses aulani in Hawaii.

At the end of the day, they didn't make a huge mistake-- as timeshares go. They bought a timeshare that tends to (historically) retain a good portion of their value. Some of the dvc properties have actually increased in value over time. Maybe you can take vacations with them and see how fun and nice a dvc property is!!
 
We bought our first timeshare in 1983 and since then have purchased several more. Since then we have bought 12 more and sold 4 of them. All of them have been resale except 2 that we bought at DVC. We bought the first one in 1999 and the second in 2001. We bought direct from DVC for 2 reasons: at that time DVC paid the closing costs and the sale closed very quickly.

The 2 we bought from DVC were BWV and then BCV. We sold one the same day we listed it and the second one we sold the next day. Both of them sold for a very good profit.

I would never have traded DVC for anything else. The points are too easy to use (one day at a time if you want with no extra fees) and easy to bank.
 
Thanks

Thanks to all who responded. I'm not going to mention resales to them. They have been back from their trip a little over a week, so It's probably too late anyway. I will steer them to the TUG forum about DVC the next time I see them. They bought it with the intent to use it because they have grandchildren who are just getting to the age where they can enjoy it, so they will have a reason to go for a number of years.

Ron
 
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Only bad thing about referring them to TUG is they might stumble across this post and recognize themselves, particularly the never wrong husband. :)
 
Weimaraner said:
Only bad thing about referring them to TUG is they might stumble across this post and recognize themselves, particularly the never wrong husband. :)
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You are correct and I'm planning on waiting a while before I tell them... :ignore:

Ron
 
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