gppnj
<a href="http://www.wdwinfo.com/dis-sponsor/" targ
- Joined
- Jun 6, 2005
Hi, everyone.
Warning: If you're not in the mood for a long post, you might as well click your browser's back button right now because this one goes on for a while. Then again, if you're at work and have nothing to do, this might be just what you needed. Basically, I just wanted to tell the story of how I became a DVC member. People thinking about buying into DVC might find some of this helpful; veteran DVC members might identify with some parts.
I've known about DVC for quite a while. However, I didn't begin to think seriously about buying into DVC until a few months ago when I received a postcard in the mail that talked about Saratoga Springs (SSR) and a promotion DVC was having for a "free Disney vacation." To this day, I'm not sure what that promotion entailed because I think it was over by the time I called.
I hadn't heard about SSR until I read that postcard. When I learned about it (but before I knew any details), I had an immediate negative reaction to it. Why? In general, I've been less enchanted with Disney in recent years that I had been historically. Although Disney still does some wonderful things, there have been some instances where Disney has sacrified the traditional level of Disney quality and gone with a cheap cut-rate alternative. One example is the recent use of cheap, off-the-shelf carnival rides instead of the themed, wonderful, imagineered Disney attractions that we have come to expect. I hate those cheesy carnival rides. (Recently, there has been evidence that Disney has learned the error of its ways, such as the total beautification of Disneyland after years of slashed maintenance budgets.) Anyway, when I heard about SSR, I knew that it was on the site of the old Disney Village Resort/Disney Institute. I imagined that Disney just made a cheap timeshare by taking those old buildings, slapping the DVC name on them, and shoehorning in an alleged "Saratoga" theme.
Anyway, I was glad to learn that my initial impressions were wrong. I found these boards, and I learned that location was that only thing SSR had in common with the Disney Institute. SSR was almost entirely new construction, and a lot of people liked it quite a bit. I learned that there were also some people who didn't like it, but for the most part, the things they didn't like about it were things that wouldn't bother me personally. For example, I don't have a problem with entering my room from outside rather than from a central indoor hallway. In addition, I enjoy walking, so I also don't mind a spread-out resort (though in 20 years I might think differently). The only criticism of SSR that was also a problem for me was the lack of a full-service restaurant, but I don't doubt that one will be added eventually.
I took the next step and called DVC. I got the information package with all the details about the program. I subsequently called my guide and asked him a bunch of questions. When I was getting some clarification about staying at non-home resorts, he did confirm that SSR was the resort that DVC was currently selling and that all the other resorts were "completely sold out." As I said, I had no reason to think that I wouldn't like SSR, so that wasn't a problem.
I thought about it for a while longer, and becoming a DVC member continued to seem like a good idea. I decided that I definitely wanted to do it. However, at the same time, I came to another important decision: I decided that the Villas at Wilderness Lodge (VWL) was the place where I really wanted to own.
"Huh?" you might be asking. "But you just said that you thought you would like SSR?" That is very true. However, I love, love, love Wilderness Lodge. Just being there makes me happy. Now I know that if I bought at SSR, in theory I'd be able to stay at VWL. However, I also know myself. If I bought at SSR, tried to make a reservation at VWL, and was unsuccessful, the first time it happened I'd just shrug it off. If it happened again, I'd start to get annoyed. If it happened a third time, I'd become filled with bitterness and anger. If I did buy into DVC, it would be costing me a lot of money. I don't need to pay all that money just to be aggravated. Besides, even when I wasn't on vacation, just knowing that I sort of, technically own a tiny piece of a wonderful place like VWL has a value to me. There was no escaping it: VWL was the place for me. I definitely don't plan on staying there every time, and I still do want to try SSR, but VWL was where I needed to own. But considering that Disney supposedly was only selling SSR, it seemed that getting points at VWL would be difficult.
It was right around this time that I learned about the resale market, and I visited The Timeshare Store (TTS) site for the first time. Recently, I'd been focusing on paying off some bills that had been hanging around in the background for a while. As a result, although I have a decent income and relatively low day-to-day expenses, I also didn't have a lot of cash on hand. Because of this, I knew that for me to buy into DVC right away I'd need financing, so I didn't think that I'd be able to go the resale route. However, when I looked through the TTS Site, I learned that TTS works with a company called Tammac Financial Corp. to provide financing.
Wow - maybe resale could work for me. It was then I looked at the page of the TTS Web site that has the actual listings, and I saw it: a 210-point contract at VWL. I had been thinking about getting a 200-point contract, so this was essentially exactly what I wanted. I couldn't believe it. Could it be this easy?
I immediately called TTS, and I spoke to Jamie. She was unbelievably nice. I inquired about the 210-point VWL contract, and Jamie confirmed that it was still available. Yay! I also mentioned to Jamie that although I had more than enough for a downpayment, I didn't have all the money, so I would need financing. I also explained to Jamie that although my finances in the past few years have been perfect, I did have a few blemishes from a number of years ago that haven't yet dropped off my credit report (seven years is a long time). As a result, my credit is good, but it's not very good or great. Jamie didn't think that approval for financing would be a problem, and considering that approval for mortages, which are secured, is much easier than approval for credit cards, which are unsecured, I didn't think there would be a problem, either.
Unfortunately, I was wrong. Oops. I applied for credit immediately at Tammac, and the next business day I learned that my application had not been approved. When I inquired about the reason, the person I spoke to explained to me that the loan that Tammac provides is an unsecured loan and that my past blemishes were enough to disqualify me from borrowing the amount I needed. When I learned that the loan was unsecured rather than an actual mortgage, it didn't surprise me at all that I was denied. If I had known that, I wouldn't have even applied at all. Considering that this loan is unsecured and not a mortgage, I'm not sure why TTS refers people to Tammac in the first place. People can apply for an unsecured loan anywhere, and their odds of being approved might be better if they applied at their own local bank where they already have a business relationship. I see no reason for dealing with Tammac rather than any place else.
Anyway, unfortunately I was not able to go forward with the VWL contract through TTS. Indeed, it seemed like I'd have to do some heavy-duty saving. I still definitely wanted to buy into DVC, so my revised plan was to see how much I could save by the end of the year. I knew I couldn't save enough to pay for the contract I wanted in full, but I figured either I could save enough so that I could get approval to have a smaller amount financed, or I could get my feet wet in DVC with a smaller contract. Although the experience with Tammac was kind of weird, I certainly felt that TTS was professional and courteous throughout, and I would not hesitate to deal wtih them again. (I also didn't feel too bad about tying up that VWL contract for one business day because I noticed it was sold a day later.)
So I'd wait until the end of the year and then see where I was and review my options. Or so I thought...
There was a thread here on the boards about whether or not DVC has a waitlist of people who want to buy points at sold-out resorts. I knew that I had more than enough money to pay for the downpayment on a contract, and I knew that the financing that Disney provides really is secured by the timeshare, so financially, a purchase through DVC would work for me. I figured I had nothing to lose, so I called my guide and told him that I really wanted points at VWL and that I'd like to be put on the waitlist. He reminded me that VWL was sold out and that I could stay at VWL if I bought at SSR. I told him that I realized that but that I'm kind of nutty and really did need to have the points at VWL or else I'd make myself nuts with obsessing about staying there. I also told him that I was not going to buy at SSR and that if I couldn't get VWL points through DVC, I'd save up and get them through the resale market (and this wasn't a bluff - I meant it). He told me to hold on...
A few minutes alter he came back on the phone and told me that he had three VWL contracts available: 205 points, 210 points, and 239 points. Oh my God!!!! I figured I might as well go with the middle one, so I told him that I'd like to take the 210-point contract. (Alert readers will notice that this contract is the same size as the one I tried to buy through TTS. It occurred to me that Disney might have obtained this contract through ROFR and that I actually might have been buying the same contract I tried to buy before, but I doubt it. I don't think enough time had passed between when I tried to buy through TTS and when I bought through DVC for DVC to have purchased that contract. But I guess I'll never know for sure.)
So I set the wheels in motion to buy the 210 VWL points through DVC. There have been a few bumps in the road. FedEx never delivered my first set of contracts because they said there was no apartment number - even though the address DVC supplied clearly had the apartment number. I got the new set of contracts a day after the day I was supposed to have all the contracs returned by, but my guide assured me that this was OK and that the deal wouldn't be canceled. I also heard from a very nice woman in the DVC credit department. My credit report was vague about whether or not one of those past blemishes had been taken care of. I was easily able to supply her with proof that this matter had indeed been resolved a number of years ago, and once I did, she told me I was approved.
And here I am! And I'm really, really happy. I haven't closed yet, but they cashed my rather large deposit check and approved me for the financing, so it should be smooth sailing from here. When all is said and done, I violated one of my cardinal rules and joined a club that would have me as a member.
PS - I haven't closed yet, but I'm already thinking about an add-on. Sounds like I'll fit right in here.
Thanks for reading.
Warning: If you're not in the mood for a long post, you might as well click your browser's back button right now because this one goes on for a while. Then again, if you're at work and have nothing to do, this might be just what you needed. Basically, I just wanted to tell the story of how I became a DVC member. People thinking about buying into DVC might find some of this helpful; veteran DVC members might identify with some parts.
I've known about DVC for quite a while. However, I didn't begin to think seriously about buying into DVC until a few months ago when I received a postcard in the mail that talked about Saratoga Springs (SSR) and a promotion DVC was having for a "free Disney vacation." To this day, I'm not sure what that promotion entailed because I think it was over by the time I called.
I hadn't heard about SSR until I read that postcard. When I learned about it (but before I knew any details), I had an immediate negative reaction to it. Why? In general, I've been less enchanted with Disney in recent years that I had been historically. Although Disney still does some wonderful things, there have been some instances where Disney has sacrified the traditional level of Disney quality and gone with a cheap cut-rate alternative. One example is the recent use of cheap, off-the-shelf carnival rides instead of the themed, wonderful, imagineered Disney attractions that we have come to expect. I hate those cheesy carnival rides. (Recently, there has been evidence that Disney has learned the error of its ways, such as the total beautification of Disneyland after years of slashed maintenance budgets.) Anyway, when I heard about SSR, I knew that it was on the site of the old Disney Village Resort/Disney Institute. I imagined that Disney just made a cheap timeshare by taking those old buildings, slapping the DVC name on them, and shoehorning in an alleged "Saratoga" theme.
Anyway, I was glad to learn that my initial impressions were wrong. I found these boards, and I learned that location was that only thing SSR had in common with the Disney Institute. SSR was almost entirely new construction, and a lot of people liked it quite a bit. I learned that there were also some people who didn't like it, but for the most part, the things they didn't like about it were things that wouldn't bother me personally. For example, I don't have a problem with entering my room from outside rather than from a central indoor hallway. In addition, I enjoy walking, so I also don't mind a spread-out resort (though in 20 years I might think differently). The only criticism of SSR that was also a problem for me was the lack of a full-service restaurant, but I don't doubt that one will be added eventually.
I took the next step and called DVC. I got the information package with all the details about the program. I subsequently called my guide and asked him a bunch of questions. When I was getting some clarification about staying at non-home resorts, he did confirm that SSR was the resort that DVC was currently selling and that all the other resorts were "completely sold out." As I said, I had no reason to think that I wouldn't like SSR, so that wasn't a problem.
I thought about it for a while longer, and becoming a DVC member continued to seem like a good idea. I decided that I definitely wanted to do it. However, at the same time, I came to another important decision: I decided that the Villas at Wilderness Lodge (VWL) was the place where I really wanted to own.
"Huh?" you might be asking. "But you just said that you thought you would like SSR?" That is very true. However, I love, love, love Wilderness Lodge. Just being there makes me happy. Now I know that if I bought at SSR, in theory I'd be able to stay at VWL. However, I also know myself. If I bought at SSR, tried to make a reservation at VWL, and was unsuccessful, the first time it happened I'd just shrug it off. If it happened again, I'd start to get annoyed. If it happened a third time, I'd become filled with bitterness and anger. If I did buy into DVC, it would be costing me a lot of money. I don't need to pay all that money just to be aggravated. Besides, even when I wasn't on vacation, just knowing that I sort of, technically own a tiny piece of a wonderful place like VWL has a value to me. There was no escaping it: VWL was the place for me. I definitely don't plan on staying there every time, and I still do want to try SSR, but VWL was where I needed to own. But considering that Disney supposedly was only selling SSR, it seemed that getting points at VWL would be difficult.
It was right around this time that I learned about the resale market, and I visited The Timeshare Store (TTS) site for the first time. Recently, I'd been focusing on paying off some bills that had been hanging around in the background for a while. As a result, although I have a decent income and relatively low day-to-day expenses, I also didn't have a lot of cash on hand. Because of this, I knew that for me to buy into DVC right away I'd need financing, so I didn't think that I'd be able to go the resale route. However, when I looked through the TTS Site, I learned that TTS works with a company called Tammac Financial Corp. to provide financing.
Wow - maybe resale could work for me. It was then I looked at the page of the TTS Web site that has the actual listings, and I saw it: a 210-point contract at VWL. I had been thinking about getting a 200-point contract, so this was essentially exactly what I wanted. I couldn't believe it. Could it be this easy?
I immediately called TTS, and I spoke to Jamie. She was unbelievably nice. I inquired about the 210-point VWL contract, and Jamie confirmed that it was still available. Yay! I also mentioned to Jamie that although I had more than enough for a downpayment, I didn't have all the money, so I would need financing. I also explained to Jamie that although my finances in the past few years have been perfect, I did have a few blemishes from a number of years ago that haven't yet dropped off my credit report (seven years is a long time). As a result, my credit is good, but it's not very good or great. Jamie didn't think that approval for financing would be a problem, and considering that approval for mortages, which are secured, is much easier than approval for credit cards, which are unsecured, I didn't think there would be a problem, either.
Unfortunately, I was wrong. Oops. I applied for credit immediately at Tammac, and the next business day I learned that my application had not been approved. When I inquired about the reason, the person I spoke to explained to me that the loan that Tammac provides is an unsecured loan and that my past blemishes were enough to disqualify me from borrowing the amount I needed. When I learned that the loan was unsecured rather than an actual mortgage, it didn't surprise me at all that I was denied. If I had known that, I wouldn't have even applied at all. Considering that this loan is unsecured and not a mortgage, I'm not sure why TTS refers people to Tammac in the first place. People can apply for an unsecured loan anywhere, and their odds of being approved might be better if they applied at their own local bank where they already have a business relationship. I see no reason for dealing with Tammac rather than any place else.
Anyway, unfortunately I was not able to go forward with the VWL contract through TTS. Indeed, it seemed like I'd have to do some heavy-duty saving. I still definitely wanted to buy into DVC, so my revised plan was to see how much I could save by the end of the year. I knew I couldn't save enough to pay for the contract I wanted in full, but I figured either I could save enough so that I could get approval to have a smaller amount financed, or I could get my feet wet in DVC with a smaller contract. Although the experience with Tammac was kind of weird, I certainly felt that TTS was professional and courteous throughout, and I would not hesitate to deal wtih them again. (I also didn't feel too bad about tying up that VWL contract for one business day because I noticed it was sold a day later.)
So I'd wait until the end of the year and then see where I was and review my options. Or so I thought...
There was a thread here on the boards about whether or not DVC has a waitlist of people who want to buy points at sold-out resorts. I knew that I had more than enough money to pay for the downpayment on a contract, and I knew that the financing that Disney provides really is secured by the timeshare, so financially, a purchase through DVC would work for me. I figured I had nothing to lose, so I called my guide and told him that I really wanted points at VWL and that I'd like to be put on the waitlist. He reminded me that VWL was sold out and that I could stay at VWL if I bought at SSR. I told him that I realized that but that I'm kind of nutty and really did need to have the points at VWL or else I'd make myself nuts with obsessing about staying there. I also told him that I was not going to buy at SSR and that if I couldn't get VWL points through DVC, I'd save up and get them through the resale market (and this wasn't a bluff - I meant it). He told me to hold on...
A few minutes alter he came back on the phone and told me that he had three VWL contracts available: 205 points, 210 points, and 239 points. Oh my God!!!! I figured I might as well go with the middle one, so I told him that I'd like to take the 210-point contract. (Alert readers will notice that this contract is the same size as the one I tried to buy through TTS. It occurred to me that Disney might have obtained this contract through ROFR and that I actually might have been buying the same contract I tried to buy before, but I doubt it. I don't think enough time had passed between when I tried to buy through TTS and when I bought through DVC for DVC to have purchased that contract. But I guess I'll never know for sure.)
So I set the wheels in motion to buy the 210 VWL points through DVC. There have been a few bumps in the road. FedEx never delivered my first set of contracts because they said there was no apartment number - even though the address DVC supplied clearly had the apartment number. I got the new set of contracts a day after the day I was supposed to have all the contracs returned by, but my guide assured me that this was OK and that the deal wouldn't be canceled. I also heard from a very nice woman in the DVC credit department. My credit report was vague about whether or not one of those past blemishes had been taken care of. I was easily able to supply her with proof that this matter had indeed been resolved a number of years ago, and once I did, she told me I was approved.
And here I am! And I'm really, really happy. I haven't closed yet, but they cashed my rather large deposit check and approved me for the financing, so it should be smooth sailing from here. When all is said and done, I violated one of my cardinal rules and joined a club that would have me as a member.
PS - I haven't closed yet, but I'm already thinking about an add-on. Sounds like I'll fit right in here.
Thanks for reading.
