Why doesn't everyone buy used?

[Pkdcoastrs]

Hey!

After checking out the link above that takes you to a company's page that sells "used"...it seems as though buying that way makes so much sense?!? I mean, for my family, if we joined now, point's would be 70 bucks or so...plus the overall total we would have to pay I think is something like 24,000? Is that right? Can someone who just joined clarify if thats the right price for buying now at the WLV? I mean...it just "seems" to make so much more sense..or is it too good to be true....I hope I'm not getting my parents all excited when it turns out their not that great of a deal maybe

 

[GAIL HAYDEN]

Disney holds the paper for us that purchase "new". With used you need to arrange your own financing. I don't own a home to use for a second mortage, I also don't have a bunch of money in the bank.
Disney covers the closing costs.

 

[Caskbill]

Not all used deals are that good. As stated the buyer must find their own financing. Also, usually the buyer will have to pay closing costs. (This can amount to several dollars per point extra). Then, in many cases the used contract may have borrowed points that were already used, so the new purchaser won't have any points for a year or two away.

If you look at the resales, I think you'll find that most who buy used do so because they want a specific resort (mainly BWV, but also OKW) which are sold out. If you want VWL, then Disney's deal is probably the best. For the other resorts (HH and VB), you may actually wind up paying more or less than if you bought through Disney. You'd have to analyze each deal individually.

As always, buyer beware. Many resales may seem a lot better than they really are. However, for the astute buyer who is very familiar with the DVC point system, impact of use year, knowledge of banking and borrowing, how all this relates to annual dues and how dues apply to which points, fair market value of unused points, closing costs and all financing implications, then there can be some good deals out there, but you have to know how to identify them.

Just because somebody advertises points for $70 or so, that doesn't necessarily mean it's a better deal than Disney's $75 a point. There can be a lot of 'hidden' costs in resales.

 

[Lesley]

We chose to buy through Disney, even though we were paying cash, for a few reasons. At the time we purchased (about a year ago) BWV was getting sort of close to selling out. We had a certain amount of money and wanted to get as many points with that amount as possible. But that amount wasn't really enough to put us in the range for a 200+ point resale and it looked at the time as if smaller resale contracts were few and far between. We didn't want to spend months considering this or that resale and possibly not find something suitable. We also were afraid that the cash we had earmarked for the purchase would begin to magically disappear if we waited...something that seems to happen every time we get some money!

So we took the tour while we were in WDW and joined then and there...162 points, and used MB (it was $10 per point at the time and we weren't planning to return to WDW until after our use year ended anyway).

We also had the thought that we might lengthen our trip using our points...but alas, nothing was available for the night we wanted.

If we were going to add another substantial amount of points we would definitely give resales more consideration than we did before...but as it happened I'm quite pleased with our choice to join through Disney.

 

[teri]

We bought through Disney, sight unseen, over the phone, using a credit card for the deposit. I had cash ressies for OKW, which was sold out for that week, and they arranged to have part of the ressie changed to some of points that I had just purchased. Couldn't have done that through resale... I had a specific reservation with my extended family, already planned and coming up within 6 weeks, and I didn't have to wait until after closing to have my ressies set.

 

[kem330]

Resale was a good experience for us. But as mentionned, you need to be careful with the contract. Closing costs are around $450. So you need to figure it costs you an extra $2+/point. With Disney you get year prior points plus this years points when you purchase. You have nothing to lose by calling the Timeshare Store and A Timeshare Broker ,(atimeshare.com)( 888-345-2622) and give them your specific requirements: # of points, price range, and all points available(none borrowed- and even better if some are banked) They will call you when something comes up. Neither one of these places are pushy or high pressure. Get your financing in order ahead of time - home equity loan or cash are best. You must get on a list, because many contracts do not make it to the internet listing.