Giving an unwanted deed back to Disney.

[ginnyfish]

Thanks again for all the advice everyone. A DVC representative go back to me. They said it is likely Disney would just take it back, but there is no official way.

A few people has discussed my buying into the Poly, there are a few reasons for this. The upfront cost of a contract is only a fraction of what you will pay over a lifetime, and currently I have the money, so I thought I would take the 'buy where I would like to stay stance'.

Secondly, even though the points are going to cost me twice as much as an older contract on resale, I am getting twice as many years. This means I can either use it for longer, or I will have a better chance at getting s good deal if I sell at 70, with over 10 years left.

The third point is, as DVC is partly an amotional purchase, I like the idea of 'owning' a bit of Disney, the membership card holds some weight with me. I want to go to the top of the world lounge and have all the other perks of DVC. I know these might go away, but they are there now. If I where to get more points in the future, I would go resale, without a doubt.

Thanks again for all the advice!

[bighal]

I suppose foreclosure is just like taking it back. It wouldn't affect you here in the UK one bit, might do if you have an outstanding loan with Disney against the deeds but then again probably only if they used a UK based company for the loan. And if you are in your 70s and not planning on going again I wouldn't worry about it at all.
Disney might even offer extensions to the deeds like they did for OKW.

[Mr Tom Morrow]

OP. A bit of a result from Disney. You have lost me where you say twice as many years by going direct as opposed to resale. Am I reading that wrong?
There is a huge difference if you factor OKW into the equation but not a massive difference with the rest compared to the Poly now on sale.
Bear in mind the Poly is trading on the resale market.

[Feebee2]

We bought Vgf on the resale market, got a loaded contract and paid $25 less per point. We didn't need finance though.
I'm 57, Dh 61. Our daughter will take over the DVC when we no longer want it. The day can't come soon enough according to her!

[Shooby doo]

Ginny not sure when the Poly started,'15/16 but the 50 year contract started from when they opened the resort not when you buy & is something like:
2042- WLV,OKW,BCV,BWV,VB,HH - Some OKW +2057
2054 - SSR
2057-AKV
2060- BLT
Not sure when VGF & Poly are
If you are happy though then that's what it is all about- just don't look at the cost of Resale contracts ! Hehe

SD

[YorkshireT]

I see the common misunderstanding on many posts. Buying direct does NOT make one iota of difference to length of contract. When the resort was built, it has 50 years on the contracts. So if you buy Poly direct or resale, it has the same time on it. You'll save money buying resale, not as much on some resorts as others.

[KarenG]

Originally Posted by YorkshireT

I see the common misunderstanding on many posts. Buying direct does NOT make one iota of difference to length of contract. When the resort was built, it has 50 years on the contracts. So if you buy Poly direct or resale, it has the same time on it. You'll save money buying resale, not as much on some resorts as others.

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I'm not interpreting any of the posts as saying that direct makes a difference to length of contract? I think OP is talking about contract length being longer because it's the Poly, not because it's direct.

[YorkshireT]

Originally Posted by KarenG

I'm not interpreting any of the posts as saying that direct makes a difference to length of contract? I think OP is talking about contract length being longer because it's the Poly, not because it's direct.

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Maybe I was misinterpreting it , but when talking about buying direct the post says 'Secondly, even though the points are going to cost me twice as much as an older contract on resale, I am getting twice as many years. This means I can either use it for longer, or I will have a better chance at getting s good deal if I sell at 70, with over 10 years left.'
Poly can of course be bought resale, at a saving, and has the same number of years remaining resale as direct. I was reading some posts yesterday where people were saying they thought if they bought resale then they 'wouldn't get a full 50 years like buying direct'. A lot of misunderstanding about resale all over various boards and this is a very common one.

[YorkshireT]

It's also a mistake to think Top of the World Lounge isn't open to resale, it is. Top of the World Lounge is part of the DVC, it never was a perk they took away.

[ginnyfish]

Hi guys, yes sorry, I meant that Poly is a newer contract, so has longer left. (49 years now). If I was to buy 50 Poly points on resale, I would save around 1K. Not that much in the grand scheme of things. If I where to buy SSR, the saving would be much more, and I agree, I would be mad to do so, but for £1000, I will take the membership card (those discounts over a lifetime add up). Now if I where to get a second contract, I would of course go indirect. There has been a lot of talk about this on blogs (disneytourest being the most thougher, got to love Bricker) and they came to the same conclusion. If they where to buy DVC now, they would get a small contract with Disney for the membership card, and any further points on resale.
YorkshireT, I thought you had to have a membership card to get into The Top Of The World Lounge? New resale contracts no longer qualify for a membership card, so I'm not sure How that would work?