Cash Purchase??

[BraveMom3]

Has anyone made a straight cash purchase of DVC? If so, what is involved? Also, what additional costs would be incurred?(i.e. closing...) I'm one of those people that hates to add to drawn out monthly notes. Not that I have alot of $$$ laying around, but I've been coming up with about $3700 a year for the past 5 years for accomodations(I know, it's crazy! ), so I could add some to that, and do some creative moving around of Credit Card rates and be finished with it within a year. Please advise!

 

[jel0511]

Hi -

We just bought at VWL in June and paid cash. We paid $75 a point and that's it!! No additional costs, and chose to pay our dues annually to avoid a monthly charge to our checking account. Good luck to you!!

 

[kem330]

If you purchase direct from Disney you can use a credit card and get the mileage points or other benefits if you have an affilated card and then pay it off right away. One more bonus with your purchase.

 

[robinb]

We paid cash for our resale a few years ago. Borrowing money for a timeshare was just not my hubby's style.

 

[Lesley]

We wrote a check for our initial purchase and charged an add on to a credit card later... there are no extra fees or anything, and if you can do this with cash I highly recommend it!

Also you may want to look at resales if you have the cash available. We didn't do resale ourselves because we were looking for a low number of points at BWV and they were hard to come by in resale at the time, but we could get them directly from Disney. Now resale is the only way to go for BWV. So I guess it partly depends on where you want to join...and you want to join where you want to stay.

 

[Cap]

They take your check cheerfully. You pay the cost per point and then get billed for the prorated dues for the current year. They are prorated from the contract date through the end of the year.
As an example, if you contracted to buy on July 1 and your deed was recorded on August 15, then in late August you would receive a bill for 1/2 year of dues. The payment woul be due on October 1. At least that's how it worked for me last year.

Disney pays all closing costs, recording fees, etc.

 

[ceejay13]

We paid cash for our add on last December. We actually put it on AMerican Express to get the frequent flyer miles and then paid the bill when it came the next month. As everyone else has said, no extra fees.

 

[gscott8075]

We used the Costco American Express card for our addon - it offers a 1.5% cash rebate. That brings your cost down by $1 per point!

 

[Laurajean1014]

Bought add-on at OKW and used AMEX! We're over 250K in member rewards points.................that's first class to Hawaii for us!

No hidden costs with Disney - straight up, just the way we like it!

 

[BraveMom3]

THANKS!! for all the great responses! I have to keep it simple!.

 

[DP0541]

One good thing about a cash deal is that it will close sooner. we just fed-exed our personal check to them with the paperwork on 8/7/01 and we have moved up our closing date a week earlier than anticipated to 8/29/01. Also, they can bank your points for your current use year so you can go ahead and make your reservations for 2002. I called 8/10/01 and already have reservations for next year at VWL for 10 nights in June in a 1BR - no problems/no hassle.
Good Luck!!
DP

 

[BraveMom3]

Thanks DP0541--

Wow that's a faster turn-around than I expected. Have you seen the VWL personally? We were at the WL in May/June this year and saw the outside of the building, but did not see inside. I could kick myself for not getting more info when I was there, but it never has occurred to me to seriously check out the DVC. After getting into conversations with several people on our last trip, and they realized how long we were staying, were repeat visitors (hopefully every year), and where we stayed, I kept getting the response--"WOW! you need to be in the DVC!" Well, it took getting home, and regrouping before I could really focus on that idea. Now I feel foolish for not looking into it sooner!

We love the WL. This was our third time there. Each time we leave, to move to a different resort, or come home, my kids (9yo, 5yo, and 4yo), always miss the WL! (me, too!)

Anyway, thanks for the info, and good look with your trip planning!