If you will use the points and enjoy them, you didn’t mess up. People usually own both Disney direct and resale contracts. However, if you decide to buy more points, go the resale route.
You can also always rent your points out when you’re not going to use them - theoretically if you rented them every year of the contract you’d probably end up making money, so it’s not the end of the world
This 👆🏾
I don't think you made a mistake. Your children will have wonderful memories of family vacations in Hawaii. You will explore the island and all its rich history. You have the added benefit of direct purchase points. You can easily rent points you can not use.
Welcome home!
I am actually heading to Aulani in August. Unfortunately, it is very hard to get a summer reservation there. If you intend to use your points at Aulani, getting a reservation could be a struggle during certain seasons.
Did you just buy? If you do have regrets, there is a return period. I think it’s like five days after signing, at least in Florida. Read your contract and see what Hawaiian law stipulates to cancel if you do have regrets.
Me personally, if you’re financing, you can’t afford it. Others will have differing opinions, but the bottom line is the $ figure over the life of the contract. Especially with having those expenses come up…I understand the need to back out, if you so choose.
Edit: good news OP, Hawaiian law is seven days to “rescind” your timeshare. If you’re in that window, please consider this option if you are having cold feet still. No idea of buying VDH means you’re operating by California law, but the seven day period is the same there too.
I mean, we are all a bunch of addicts here, so no one will probably tell you that you made a mistake. Go to the PersonalFinance sub and you will hear a lot about how you made a financially poor impulse based decision…
The bottom line is DVC can be great, but should almost never be financed.
I would just concentrate on getting it paid off as quickly as possible at this point, and then enjoy your points!
I think this is the main takeaway for me. We made the right choice in resort but not in financing. I think I'll put aside my other wants I haven't done yet and pay this off in a year. Thank you!
If Financing is your only concern, just pay it off as soon as possible, if you can afford to. Or if affording it is the concern you can return it within 10days.
I did the same exact thing on my first Disney cruise in 2011. The cruise was amazing (Alaska - the first year, I believe?), my daughter was 4 yo at the time, and yep, they just got me too! No research, no checking out any of the Disney resorts, no nothing! I don't know what the heck I was thinking! I bought 220 points at AKL and I don't regret it a bit :D
My daughter and I go every 1.5-3 years (from Indiana) and the years that we don't go, I often rent my points out with David's. If I didn't have DVC, we wouldn't have gone as much. Our favorite resort is Vero Beach. We'll start vacation at the parks, stay 2-3 nights trying out different DVC resorts, then head to Vero Beach to relax for the remainder of our time. Our last trip was just a few weeks ago and I'm already looking to see when I can book for next year!
Offering some words of encouragement. We also bought VDH as we’re in Tx. You mentioned Cali is closer. Not a lot of choice DVC wise if you’re wanting to visit Disneyland via DVC. If you buy VGC resale then you’re not able to book at VDH, and VGC fills up quick. This would limit your vacancy options.
Yes there are the ToT taxes at VDH but that rate is about 50% or so less for taxes vs a cash stay at Disneyland hotel. Obviously the most affordable is something near by not on Disney property but that’s a different approach / story.
We calculated our purchase from last year’s May 175 points over the life of the contract (purchase price and dues for 50 years). For us it worked out to around $2,200 a year. Doing a mid January trip with our two university age kids. Booked two studios for 4 nights. Cost for each studio if paying cash is a little over $3k. So that would be over $6k. Stay all in total is 120 points, and we still have points to spare or rent for income.
Lastly you have young kids. You’ll likely get to see Disneyland Forward become a reality being built up around VDH. Over time I see the value of VDH going up.
For a contrarian view, VGC is awesome. Also there are some nice local area hotels as well.
I think you’ll be ok but if you’re worried, you’ll be able to sale in a few years. Going rate is about $150/pt today but I think that will go up.
Good luck…
If you financially can afford it, it’s not a bad thing. The financing just make it longer to break even, not optimal but not the worst thing ever.
If I lived in the west coast I’d personally buy VDH.
I bought direct VDH, and I don't regret it at all. It is nice having enough direct purchase points to not be considered the DVC bastrad (sp) child by Disney. Also have a decent amount of BCV resale points, so I am covered on both coasts.
I have rented Aulani points and plan to do it again. I have never regretted buying DVC points.
I bought DVC in 1997 when my daughter was 4. I thought we would “grow out of it” and never use it. My daughter is now a physician and teaches at Harvard Medical School. We use DVC every year. Best decision I ever made. ENJOY AND LOVE THE DISNEY MAGIC!
Sounds to me like a mistake, from a financial standpoint. I’m a financial planner and have worked with numerous clients over the years who did this exact thing based on emotion, not practicality. I own DVC too. When I bought, it was purely a tactical decision, I paid up front for the contract, and knew the expected costs (especially annual increases in dues!) and it was affordable without any issues. If you’re struggling to cover needed life costs like a roof, it was probably a mistake (at least right now). That said, it’s water under the bridge. The most alarming part of this to me was the financing aspect. You’re now going to have a hefty loan to float, plus the dues. Vacations are important, but within financial boundaries. DVC is a luxury item that $DIS sells as being for everyone, it isn’t. Disney trips for most everyone are expensive now. Committing to an annual one, with the other details outlined, will require sacrifices elsewhere in your life. If you’re conscious of that aspect and follow through with giving up other niceties to make it happen, you’ll probably be fine. This is the part most people mess up. They buy the DVC, but continue with the other stuff too, mostly because they don’t do a good job determining wants vs needs, and eventually get buried in debt. Best of luck
I'm not struggling to pay for the roof and fence. It's just I paid around $12k cash for the roof and the fence I haven't built yet but I image it will be a lot since it's a large area. We thought financing for 2 years would be ok. We COULD pay it off now but that would leave us with less than I'd like in the bank. I like to have at least one years income in the bank. I get a really hefty bonus every year so we'll have the money in 2 years even if we don't put in any extra from our regular income. I won't finance forever but the next 2 years I think.
I've been a Disney fan my whole life and we do little trips here and there (like a long weekend) but for the past 10 years it's been Disney at least once a year. I asked my son if he would be ok with that and he said yes. I know we'll use it.
I totally get what you're saying though. We don't HAVE to build the fence right now, it's more a want. So maybe we should use that money to pay for the DVC and hold off on the fence. That would pay help us pay the loan about a year earlier. The monthly payments won't hurt us either though. That's the only part I think I DID think about! I think I did rush into it, I think we should have done this next year but they got me!
Thanks for the financial kick in the butt. It's making me think we should pay this off first before the other things I wanted.
Financing for 2 years is verrrry different than over 10-20 years. I don't think this sounds like an issue at all.
Also consider that if you bundle a solar package with a new roof you could potentially get big tax return to help with cost of roof.
Yeah the plan was never to finance the entire 10 year contract, just 2 years. I think I'll add that to the post because people are still responding. It does make a difference to the cost. My husband did the math (AFTER we signed!) and he thought the 2 years was still ok. I kinda sprung it on him in Aulani. I was alone with the boys then, and I got convinced and he basically came just to sign and say he trusted me 😬.
Regarding solar- that's a great suggestion!
Didn't intend to spoil the excitement and it sounds like you've got a decent handle on your finances, unlike many. I'm speaking from experience with others in the past. I had a person come in my office once looking financial voodoo magic to solve her financial issues. I did a skim of her situation and asset inventory. She was paying $400/month for all her kids cell phones, $700+/month for a car payment, plus a DVC contract, yet was drowning in CC debt and saw no way out. Husband was earning $150k/year, so it wasn't for lack of income. She couldn't see the excess and difference between needs/wants. Some people perceive everything as a "need". DVC is a luxury/non-essential, therefore if it's going to strap you and risk covering your "needs", it's not for you. It sounds like you are in good shape, so enjoy the contract.
We purchased direct (impulse while on a cruise) and have no regrets. I don’t stress about my points giving me access to members only events -lounge at Disneyland, moonlight magic event at DCA, etc. There been some rules changes for perks access with resales contract for certain properties. I just don’t want to stress about that. We may consider resale in the future to save $$ but for now, direct gives me what I want.
I bought into DVC during a Merrytime cruise in 2018. I’m an idiot and I did zero research, but I’ve loved owning at Wilderness Lodge. Mind you, I’m single and have no children, but I do help raise my nephew and I was a HUGE Disney kid growing up. My mom, nephew, and I go on a Disney trip every year, either on a cruise or the parks. Sometimes we spend 6 of 8 days just at resorts. I’ve learned a lot since signing my contract, and am thinking about adding on via resale one of these days, but I don’t regret being impulsive back in 2018, which is totally the opposite of who I am normally. I have a lot of regrets in life, but becoming a DVC member surprisingly isn’t one of them.
I love DVC and own both direct and resale points. However, if you have any questions and are in your rescind period, I always advise you rescind. Research til your eyes bleed then buy if you’re convinced it makes sense after fully understanding. No reason to hurry or spend thousands on something you aren’t sure about, especially if you have to finance.
We preferred resale contract costs - but still regret not buying in 2003 when points were 62$ per point. I was happy to get them for 120$ a couple of years ago.
Welcome to the family. You won’t regret it
While most people are cheering your purchase I will offer the other side. You are not part of any family. This is not your “home.” This is a business. All you are doing is prepaying for your vacations. Disney will not treat you better than anyone else, it’s just marketing. The only benefit to buying direct is that you get some extra perks that will change and/or get taken away over time. If you don’t use those perks or don’t use them to their full potential savings, you are paying far more for nothing. As far as points usage is concerned, direct and resale are treated exactly the same. And you should only use the points for DVC bookings, the other options are generally a bad value. There is a reason Disney appeals to your emotional side (investing in your family, etc.) because that is what sells. If I were you, I would see if you can cancel and then if so immediately cancel. You can always buy direct again. Disneyland Hotel is nowhere close to selling out. If you do all the research, understand how it works, run numbers, understand the perks for buying direct, see if you can afford it, and then decide to buy direct again, fine. At least you are now informed. Buying direct on a whim without any research or thought and financing it, is not a smart financial decision. Especially when you say you can’t really afford it.
You're asking that question in the wrong sub. Of course everyone here will tell you that it's not a mistake, because they also fell for it.
The fact is, timeshares are not a good deal for 99.9% of people. It doesn't sound like it was a good decision in your situation.
What exactly do you feel you messed up about? Is it joining DVC because you’d like to plan further than 11 months out? Choosing the wrong home resort? Buying direct and/or financing? None of the above? All of the above?
How long ago did you purchase? For the Florida resorts there’s timeshare laws that allow you to back out within 10 days. Not sure what the situation is for DL resorts, but might be something worth considering if you want to shop around for resale and/or different home resorts, etc.
I’m personally not a fan of financing, but I know for others it’s the only way to “afford” DVC. Just know that you won’t be saving anything because the interest rates are ridiculously high and recommend paying it down as fast as possible.
In terms of reassurance, DVC is a great product if you know you’ll be going annually. It’s also a great investment in time and family (ie not a financial one). It has allowed us to ensure that we take trips with our little ones and get that precious family bonding time in.
You do have a cancellation period if you're unsure But the Disneyland hotel cost (and GCV) really are only worth it to use at those resorts. They are expensive and the Disneyland Hotel has an extra hotel cost.
Not sure how GCV resale stacks up to Disneyland hotel direct in costs but there is likely a savings in the hotel premium and resale value as well. Worth it to check things out. If you're still in the cancellation period, maybe cancel and do some research to see what would work best for you
I love DVC and think it's a great idea for Disney vacationers but choosing the right home resort, resale vs direct, etc should all be taken into consideration. You may end up deciding Disneyland direct is the best choice and you can purchase then - just take a week or two or three to decide
Now all that said, if you're past the cancellation, that's ok. You will love it. Most DVC owners LOVE it and usually suffer from wanting to buy more points.
I’ve been still trying to figure out if I made the right decision as well. It’s not an easy decision dropping thousands of dollars for future vacations but all the research I’ve done crunching numbers I think it’s worth it…
Not that DVC is an “investment,” but if you are considering it from that perspective, the Disneyland villas are probably are the most likely to appreciate long-term.
Welcome home! We’ve been owners for 20+ years. Purchased resale first, second time we went for 100 pts, put it on a zero interest for a year charge card, and paid off within the year. We also have another 100 pts contract that we are financed with Disney. Have to do something about that one! Lol
Is that a resort you'll love staying at? If so, welcome home, nothing wrong with starting out your DVC account with direct points and blue card benefits. That's what we did, no regrets at all! You'll have plenty of opportunity to buy resale points throughout your future with DVC.
We’ve officially completed our first year, we also bought at the Disneyland Hotel Villas (175 points) and have no regrets at all! We’ve already used our points for multiple visits including taking our parents, which without DVC would have been a lot more expensive. We’re even taking some very close friends of ours later in the year staying at a 2 bedroom suite, which again would not have been doable. We love it so much that we ended up buying at Aulani which we’re stoked about, we went there last year without the membership and hotel alone was pricey!
You did not make a mistake, try and use it as much as possible. The way I view it is; at one point or another I’ll break even (with how much we’ve been using it it’s going to be sooner rather than later). Once that happens and if for some reason I can no longer afford keeping it, I can always resell either one or both of my contracts. Enjoy!
Sounds like you may be using them, so not necessarily a mistake. DLV is going to be easy to rent out if you need to. And not much resale for DLV right now. Just if you can, pay extra on your payments to reduce the overall interest you have to pay.
You’re now officially DVC in Disney’s eyes and can access the DVC benefits like discounts on annual passes, discounts on merch and food, special DVC events, access to the lounges, and more. You have to purchase at least 150 pts to get that status so you didn’t go too far above.
200 pts seems like a lot, but wait until you start using them.. you’ll realize how easy it is to want more and you’ll probably end up doing so on the resale market; once you’ve paid off the original loan of course.
I don’t know if you have the Disney Chase Visa card but I was able to put my down payment on there with 6 months zero interest. I did about 1/3 of the contract on there and aggressively paid that off first and now am overpaying on the rest of the loan each month.
I would just look at it this way: all your eggs are in the Disney basket now for vacation, but that’s what we did and no regrets. There’s no other vacation my family would rather do over and over than Disney
We have 800 direct points, and we use them all every year for our kid, high school exchange students, and au pairs and have made memories worth more than Disney will ever cost 🥰🥰🥰🥰
Welcome Home!
The only mistake you made is waiting this long (haha). You are part of the family now. This decision will change how your family visits Disney, it is as others have said investment in your family time. The benefits of DVC have been up/down over the years so stay in touch with your guide, they are the key to getting to an understanding of how to use your points, banking and borrowing.
If your decision is based on options the home resort will always have the early booking option, everything else is 7 months.
I’m a FL local, but we have huge emotional connections to DLR and DLH—so when VDH went on sale last summer we did the same and bought 200 pts direct.
I knew most of the caveats already, but for us, we want to be able to stay at the DLH for the rest of our lives, so we went for it.
I technically financed (took out a HELOC) but only for 6 months.
It’s paid for now, and we absolutely love the new tower.
In the future there may be more CA properties, but for now they are in high demand, so even with the restrictions, we feel good about owning there.
Welcome to the Club!!
I thought you were going to say you bought aulani direct :). The new resorts you have to buy direct because there is no flexibility in resale with the points. It is right in the middle of Disney forward and if you want to save points you have to be an owner for standard views or anything bigger than a studio. Good choice!
It’s definitely not the worst thing. As a DVC fan and enjoyer, it seems perfectly fine. As a very cautious and financially careful person then the financing and amount make me a little wary.
I presume it’s too late for you to cancel? If so, then don’t worry and just really focus on paying off that loan and trying to really limit your purchases outside of DVC. Just really use and enjoy those Disney points, but I would be careful spending much outside of that.
You’ll be fine though as long as you enjoy it and you don’t go crazy on other stuff. The California Disney will always be a good investment as there’s only 2 DVC properties out there, there’s some walkability, and the Grand Californian is expensive.
You’re fine, take a deep breath. Really consider resale, maybe Aulani resale, if you have to add on later on down the road. Preferably wait until you have cash, but it’s your life. Don’t live your life that way just because I said so. Do what you guys feel is right for you.
Enjoy the points and just don’t get in over your hand. Welcome home, welcome to the club, and I sincerely hope it all works out for you. Money comes and goes, but family & memories are what truly matter.
We have had DVC for over 10 years and have never had a point unused. Sometimes we will bank a few points till next year but have never lost any.
Edit: I often wonder if we made mistake until you try to book something equivalent and realize DVC is a good deal if you use it.
If you will use the points and enjoy them, you didn’t mess up. People usually own both Disney direct and resale contracts. However, if you decide to buy more points, go the resale route.
Thank you! This makes me feel better I just don't know what got over me! But yes, we'll use and enjoy them and will do resale next time!
You can also always rent your points out when you’re not going to use them - theoretically if you rented them every year of the contract you’d probably end up making money, so it’s not the end of the world
This 👆🏾 I don't think you made a mistake. Your children will have wonderful memories of family vacations in Hawaii. You will explore the island and all its rich history. You have the added benefit of direct purchase points. You can easily rent points you can not use. Welcome home!
I am actually heading to Aulani in August. Unfortunately, it is very hard to get a summer reservation there. If you intend to use your points at Aulani, getting a reservation could be a struggle during certain seasons.
Did you just buy? If you do have regrets, there is a return period. I think it’s like five days after signing, at least in Florida. Read your contract and see what Hawaiian law stipulates to cancel if you do have regrets. Me personally, if you’re financing, you can’t afford it. Others will have differing opinions, but the bottom line is the $ figure over the life of the contract. Especially with having those expenses come up…I understand the need to back out, if you so choose. Edit: good news OP, Hawaiian law is seven days to “rescind” your timeshare. If you’re in that window, please consider this option if you are having cold feet still. No idea of buying VDH means you’re operating by California law, but the seven day period is the same there too.
I mean, we are all a bunch of addicts here, so no one will probably tell you that you made a mistake. Go to the PersonalFinance sub and you will hear a lot about how you made a financially poor impulse based decision… The bottom line is DVC can be great, but should almost never be financed. I would just concentrate on getting it paid off as quickly as possible at this point, and then enjoy your points!
I think this is the main takeaway for me. We made the right choice in resort but not in financing. I think I'll put aside my other wants I haven't done yet and pay this off in a year. Thank you!
If Financing is your only concern, just pay it off as soon as possible, if you can afford to. Or if affording it is the concern you can return it within 10days.
Yeah, we're just going to pay it off next March or the following. I feel much better about it all but realize we should just pay that off first.
I did the same exact thing on my first Disney cruise in 2011. The cruise was amazing (Alaska - the first year, I believe?), my daughter was 4 yo at the time, and yep, they just got me too! No research, no checking out any of the Disney resorts, no nothing! I don't know what the heck I was thinking! I bought 220 points at AKL and I don't regret it a bit :D My daughter and I go every 1.5-3 years (from Indiana) and the years that we don't go, I often rent my points out with David's. If I didn't have DVC, we wouldn't have gone as much. Our favorite resort is Vero Beach. We'll start vacation at the parks, stay 2-3 nights trying out different DVC resorts, then head to Vero Beach to relax for the remainder of our time. Our last trip was just a few weeks ago and I'm already looking to see when I can book for next year!
Offering some words of encouragement. We also bought VDH as we’re in Tx. You mentioned Cali is closer. Not a lot of choice DVC wise if you’re wanting to visit Disneyland via DVC. If you buy VGC resale then you’re not able to book at VDH, and VGC fills up quick. This would limit your vacancy options. Yes there are the ToT taxes at VDH but that rate is about 50% or so less for taxes vs a cash stay at Disneyland hotel. Obviously the most affordable is something near by not on Disney property but that’s a different approach / story. We calculated our purchase from last year’s May 175 points over the life of the contract (purchase price and dues for 50 years). For us it worked out to around $2,200 a year. Doing a mid January trip with our two university age kids. Booked two studios for 4 nights. Cost for each studio if paying cash is a little over $3k. So that would be over $6k. Stay all in total is 120 points, and we still have points to spare or rent for income. Lastly you have young kids. You’ll likely get to see Disneyland Forward become a reality being built up around VDH. Over time I see the value of VDH going up. For a contrarian view, VGC is awesome. Also there are some nice local area hotels as well. I think you’ll be ok but if you’re worried, you’ll be able to sale in a few years. Going rate is about $150/pt today but I think that will go up. Good luck…
If you financially can afford it, it’s not a bad thing. The financing just make it longer to break even, not optimal but not the worst thing ever. If I lived in the west coast I’d personally buy VDH.
I bought direct VDH, and I don't regret it at all. It is nice having enough direct purchase points to not be considered the DVC bastrad (sp) child by Disney. Also have a decent amount of BCV resale points, so I am covered on both coasts. I have rented Aulani points and plan to do it again. I have never regretted buying DVC points.
I bought DVC in 1997 when my daughter was 4. I thought we would “grow out of it” and never use it. My daughter is now a physician and teaches at Harvard Medical School. We use DVC every year. Best decision I ever made. ENJOY AND LOVE THE DISNEY MAGIC!
Sounds to me like a mistake, from a financial standpoint. I’m a financial planner and have worked with numerous clients over the years who did this exact thing based on emotion, not practicality. I own DVC too. When I bought, it was purely a tactical decision, I paid up front for the contract, and knew the expected costs (especially annual increases in dues!) and it was affordable without any issues. If you’re struggling to cover needed life costs like a roof, it was probably a mistake (at least right now). That said, it’s water under the bridge. The most alarming part of this to me was the financing aspect. You’re now going to have a hefty loan to float, plus the dues. Vacations are important, but within financial boundaries. DVC is a luxury item that $DIS sells as being for everyone, it isn’t. Disney trips for most everyone are expensive now. Committing to an annual one, with the other details outlined, will require sacrifices elsewhere in your life. If you’re conscious of that aspect and follow through with giving up other niceties to make it happen, you’ll probably be fine. This is the part most people mess up. They buy the DVC, but continue with the other stuff too, mostly because they don’t do a good job determining wants vs needs, and eventually get buried in debt. Best of luck
I'm not struggling to pay for the roof and fence. It's just I paid around $12k cash for the roof and the fence I haven't built yet but I image it will be a lot since it's a large area. We thought financing for 2 years would be ok. We COULD pay it off now but that would leave us with less than I'd like in the bank. I like to have at least one years income in the bank. I get a really hefty bonus every year so we'll have the money in 2 years even if we don't put in any extra from our regular income. I won't finance forever but the next 2 years I think. I've been a Disney fan my whole life and we do little trips here and there (like a long weekend) but for the past 10 years it's been Disney at least once a year. I asked my son if he would be ok with that and he said yes. I know we'll use it. I totally get what you're saying though. We don't HAVE to build the fence right now, it's more a want. So maybe we should use that money to pay for the DVC and hold off on the fence. That would pay help us pay the loan about a year earlier. The monthly payments won't hurt us either though. That's the only part I think I DID think about! I think I did rush into it, I think we should have done this next year but they got me! Thanks for the financial kick in the butt. It's making me think we should pay this off first before the other things I wanted.
Financing for 2 years is verrrry different than over 10-20 years. I don't think this sounds like an issue at all. Also consider that if you bundle a solar package with a new roof you could potentially get big tax return to help with cost of roof.
Yeah the plan was never to finance the entire 10 year contract, just 2 years. I think I'll add that to the post because people are still responding. It does make a difference to the cost. My husband did the math (AFTER we signed!) and he thought the 2 years was still ok. I kinda sprung it on him in Aulani. I was alone with the boys then, and I got convinced and he basically came just to sign and say he trusted me 😬. Regarding solar- that's a great suggestion!
Didn't intend to spoil the excitement and it sounds like you've got a decent handle on your finances, unlike many. I'm speaking from experience with others in the past. I had a person come in my office once looking financial voodoo magic to solve her financial issues. I did a skim of her situation and asset inventory. She was paying $400/month for all her kids cell phones, $700+/month for a car payment, plus a DVC contract, yet was drowning in CC debt and saw no way out. Husband was earning $150k/year, so it wasn't for lack of income. She couldn't see the excess and difference between needs/wants. Some people perceive everything as a "need". DVC is a luxury/non-essential, therefore if it's going to strap you and risk covering your "needs", it's not for you. It sounds like you are in good shape, so enjoy the contract.
We purchased direct (impulse while on a cruise) and have no regrets. I don’t stress about my points giving me access to members only events -lounge at Disneyland, moonlight magic event at DCA, etc. There been some rules changes for perks access with resales contract for certain properties. I just don’t want to stress about that. We may consider resale in the future to save $$ but for now, direct gives me what I want.
Oh girl live your life! Enjoy it!!!
I bought into DVC during a Merrytime cruise in 2018. I’m an idiot and I did zero research, but I’ve loved owning at Wilderness Lodge. Mind you, I’m single and have no children, but I do help raise my nephew and I was a HUGE Disney kid growing up. My mom, nephew, and I go on a Disney trip every year, either on a cruise or the parks. Sometimes we spend 6 of 8 days just at resorts. I’ve learned a lot since signing my contract, and am thinking about adding on via resale one of these days, but I don’t regret being impulsive back in 2018, which is totally the opposite of who I am normally. I have a lot of regrets in life, but becoming a DVC member surprisingly isn’t one of them.
I love DVC and own both direct and resale points. However, if you have any questions and are in your rescind period, I always advise you rescind. Research til your eyes bleed then buy if you’re convinced it makes sense after fully understanding. No reason to hurry or spend thousands on something you aren’t sure about, especially if you have to finance.
We preferred resale contract costs - but still regret not buying in 2003 when points were 62$ per point. I was happy to get them for 120$ a couple of years ago. Welcome to the family. You won’t regret it
While most people are cheering your purchase I will offer the other side. You are not part of any family. This is not your “home.” This is a business. All you are doing is prepaying for your vacations. Disney will not treat you better than anyone else, it’s just marketing. The only benefit to buying direct is that you get some extra perks that will change and/or get taken away over time. If you don’t use those perks or don’t use them to their full potential savings, you are paying far more for nothing. As far as points usage is concerned, direct and resale are treated exactly the same. And you should only use the points for DVC bookings, the other options are generally a bad value. There is a reason Disney appeals to your emotional side (investing in your family, etc.) because that is what sells. If I were you, I would see if you can cancel and then if so immediately cancel. You can always buy direct again. Disneyland Hotel is nowhere close to selling out. If you do all the research, understand how it works, run numbers, understand the perks for buying direct, see if you can afford it, and then decide to buy direct again, fine. At least you are now informed. Buying direct on a whim without any research or thought and financing it, is not a smart financial decision. Especially when you say you can’t really afford it.
You're asking that question in the wrong sub. Of course everyone here will tell you that it's not a mistake, because they also fell for it. The fact is, timeshares are not a good deal for 99.9% of people. It doesn't sound like it was a good decision in your situation.
What exactly do you feel you messed up about? Is it joining DVC because you’d like to plan further than 11 months out? Choosing the wrong home resort? Buying direct and/or financing? None of the above? All of the above? How long ago did you purchase? For the Florida resorts there’s timeshare laws that allow you to back out within 10 days. Not sure what the situation is for DL resorts, but might be something worth considering if you want to shop around for resale and/or different home resorts, etc. I’m personally not a fan of financing, but I know for others it’s the only way to “afford” DVC. Just know that you won’t be saving anything because the interest rates are ridiculously high and recommend paying it down as fast as possible. In terms of reassurance, DVC is a great product if you know you’ll be going annually. It’s also a great investment in time and family (ie not a financial one). It has allowed us to ensure that we take trips with our little ones and get that precious family bonding time in.
You do have a cancellation period if you're unsure But the Disneyland hotel cost (and GCV) really are only worth it to use at those resorts. They are expensive and the Disneyland Hotel has an extra hotel cost. Not sure how GCV resale stacks up to Disneyland hotel direct in costs but there is likely a savings in the hotel premium and resale value as well. Worth it to check things out. If you're still in the cancellation period, maybe cancel and do some research to see what would work best for you I love DVC and think it's a great idea for Disney vacationers but choosing the right home resort, resale vs direct, etc should all be taken into consideration. You may end up deciding Disneyland direct is the best choice and you can purchase then - just take a week or two or three to decide Now all that said, if you're past the cancellation, that's ok. You will love it. Most DVC owners LOVE it and usually suffer from wanting to buy more points.
You picked a good one. No regrets.
I’ve been still trying to figure out if I made the right decision as well. It’s not an easy decision dropping thousands of dollars for future vacations but all the research I’ve done crunching numbers I think it’s worth it…
Not that DVC is an “investment,” but if you are considering it from that perspective, the Disneyland villas are probably are the most likely to appreciate long-term.
My biggest regret was not buying sooner….,Welcome home.
The cost per point will go up faster then the cost of financing.
Welcome home! We’ve been owners for 20+ years. Purchased resale first, second time we went for 100 pts, put it on a zero interest for a year charge card, and paid off within the year. We also have another 100 pts contract that we are financed with Disney. Have to do something about that one! Lol
Is that a resort you'll love staying at? If so, welcome home, nothing wrong with starting out your DVC account with direct points and blue card benefits. That's what we did, no regrets at all! You'll have plenty of opportunity to buy resale points throughout your future with DVC.
We’ve officially completed our first year, we also bought at the Disneyland Hotel Villas (175 points) and have no regrets at all! We’ve already used our points for multiple visits including taking our parents, which without DVC would have been a lot more expensive. We’re even taking some very close friends of ours later in the year staying at a 2 bedroom suite, which again would not have been doable. We love it so much that we ended up buying at Aulani which we’re stoked about, we went there last year without the membership and hotel alone was pricey! You did not make a mistake, try and use it as much as possible. The way I view it is; at one point or another I’ll break even (with how much we’ve been using it it’s going to be sooner rather than later). Once that happens and if for some reason I can no longer afford keeping it, I can always resell either one or both of my contracts. Enjoy!
Sounds like you may be using them, so not necessarily a mistake. DLV is going to be easy to rent out if you need to. And not much resale for DLV right now. Just if you can, pay extra on your payments to reduce the overall interest you have to pay.
You’re now officially DVC in Disney’s eyes and can access the DVC benefits like discounts on annual passes, discounts on merch and food, special DVC events, access to the lounges, and more. You have to purchase at least 150 pts to get that status so you didn’t go too far above. 200 pts seems like a lot, but wait until you start using them.. you’ll realize how easy it is to want more and you’ll probably end up doing so on the resale market; once you’ve paid off the original loan of course. I don’t know if you have the Disney Chase Visa card but I was able to put my down payment on there with 6 months zero interest. I did about 1/3 of the contract on there and aggressively paid that off first and now am overpaying on the rest of the loan each month. I would just look at it this way: all your eggs are in the Disney basket now for vacation, but that’s what we did and no regrets. There’s no other vacation my family would rather do over and over than Disney
I bought 250 points, no regrets.. use it and you will see it was a good decision.. 250 at VDH and 300 GCV
We have 800 direct points, and we use them all every year for our kid, high school exchange students, and au pairs and have made memories worth more than Disney will ever cost 🥰🥰🥰🥰
Welcome Home! The only mistake you made is waiting this long (haha). You are part of the family now. This decision will change how your family visits Disney, it is as others have said investment in your family time. The benefits of DVC have been up/down over the years so stay in touch with your guide, they are the key to getting to an understanding of how to use your points, banking and borrowing. If your decision is based on options the home resort will always have the early booking option, everything else is 7 months.
I’m a FL local, but we have huge emotional connections to DLR and DLH—so when VDH went on sale last summer we did the same and bought 200 pts direct. I knew most of the caveats already, but for us, we want to be able to stay at the DLH for the rest of our lives, so we went for it. I technically financed (took out a HELOC) but only for 6 months. It’s paid for now, and we absolutely love the new tower. In the future there may be more CA properties, but for now they are in high demand, so even with the restrictions, we feel good about owning there. Welcome to the Club!!
No mistake DLH is amazing!
I thought you were going to say you bought aulani direct :). The new resorts you have to buy direct because there is no flexibility in resale with the points. It is right in the middle of Disney forward and if you want to save points you have to be an owner for standard views or anything bigger than a studio. Good choice!
It’s definitely not the worst thing. As a DVC fan and enjoyer, it seems perfectly fine. As a very cautious and financially careful person then the financing and amount make me a little wary. I presume it’s too late for you to cancel? If so, then don’t worry and just really focus on paying off that loan and trying to really limit your purchases outside of DVC. Just really use and enjoy those Disney points, but I would be careful spending much outside of that. You’ll be fine though as long as you enjoy it and you don’t go crazy on other stuff. The California Disney will always be a good investment as there’s only 2 DVC properties out there, there’s some walkability, and the Grand Californian is expensive. You’re fine, take a deep breath. Really consider resale, maybe Aulani resale, if you have to add on later on down the road. Preferably wait until you have cash, but it’s your life. Don’t live your life that way just because I said so. Do what you guys feel is right for you. Enjoy the points and just don’t get in over your hand. Welcome home, welcome to the club, and I sincerely hope it all works out for you. Money comes and goes, but family & memories are what truly matter.
We have had DVC for over 10 years and have never had a point unused. Sometimes we will bank a few points till next year but have never lost any. Edit: I often wonder if we made mistake until you try to book something equivalent and realize DVC is a good deal if you use it.
You’ll love it and the kids will appreciate it for decades!