Originally Posted By pitapan16 If you are going to purchase a Condo, I recommend purchasing assets first to pay for it.
Originally Posted By dennis-in-ct lol ... good one pitpan <<< Mousesavers says it takes 20 yrs to break even and don't ever *EVER* enter into a DVC purchase if you have to finance - always pay the buy in up front or don't consider it at all. <<< I said that wrong. What the website said was to only purchase a DVC if you have the cash for the intial buy-in cost.
Originally Posted By jonvn OK, I'll say it likke this: Don't buy a DVC timeshare. I don't know what numbers that site did, but it simply is throwing money away. I'll look later in the day. The worst of it is the fact that the timeshare reverts to Disney after a certain time period. You're not even BUYING a timeshare with DVC, you're LEASING one. For a lot of money. Money you can hold on to and invest where it will actually make you some money. Save your money, buy vacations when and where you want to go.
Originally Posted By LuLu dennis, wow! Thanks for the link. I'd just gotten an offer of 500 bonus "Disney Reward Dollars" with a DVC purchase, so I was wondering if it was worth looking into. That page quickly convinced me not to bother!
Originally Posted By jonvn I just took a quick look at this page. You have to be OUT OF YOUR MIND to do this, financially. Look: "The initial cost of joining DVC is significant (without incentives, the current minimum of 160 points costs $16,640 plus closing costs, if you purchase direct from Disney) and you will pay substantial annual dues (current minimum is around $640)." So the MINIMUM is $17K! OK, you can go to WDW for about $1000. Say $1500. For a week. SO, you just prepaid for like the next 25 years worth of Disney vacations. In the meantime, they have your money, while you sit at home getting mailers from DVC. You know who doesn't have your money in all that time? YOU DON'T! SO unless there is some other reason to do this, it's to be avoided.
Originally Posted By Sport Goofy << SO unless there is some other reason to do this, it's to be avoided. >> Well, I don't advocate a DVC purchase, but I can envision a scenario where the U.S. dollar continues to deteriorate and we see escalating inflation. If my crystal ball said that vacations 25 years from now will cost 4 to 5 times more than they do today, I might take advantage of buying all my vacations now in 2007 dollars and achieve a cost savings up front. However, since I only take a vacation once every 5 years or so, I think I'd rather take my chances and keep my money in the bank.
Originally Posted By berol If I stay lots of nights each year in expensive Disney park hotels, DVC saves money (but so does moteling it.) The result with or without DVC is Disney has a big pile of my money with only paper to show for it.
Originally Posted By LuLu I think she says you have to average $1200 in Disney lodging per year (2005 dollars) to even begin considering it. And then you have to figure you'd continue doing that for 50 years! Add in managing your points, and it's just way too much of a commitment/hassle, even if it made sense financially. In the case of inflation, your annual dues continue to rise anyway. She's assuming your dues and lodging costs rise at about the same rate.
Originally Posted By berol I know of someone that must be spending around $5000-6000/year on GCH lodging. If that were me, I'd be all over GCH DVC.
Originally Posted By berol I've wondered why anyone would lease a car, never could figure out that one.
Originally Posted By Sport Goofy << I've wondered why anyone would lease a car, never could figure out that one. >> They can't afford the payments to buy a new car outright.
Originally Posted By berol The used auto industry does. They're insane! They're overstocked and have to sell at these low, low prices! I guess if I had money to burn, I might lease a car for a month for fun and avoid the "driving the car off the lot" hit.
Originally Posted By SFH >>They're insane! They're overstocked and have to sell at these low, low prices!<< And... They'll club a baby seal To make a better deal!
Originally Posted By davewasbaloo On a serious note, car leases can make sense for business users. I work with a lot of people who lease cars. We tend to drive between 25000 to 50000 miles a year and must have reliable vehicles for work. So for some, it makes sense. For us, we normally buy a new car and I use it until it gets to about 120,000 and then give it to Sarah to use (she does about 5000 miles a year). But remember in the UK a midsize is about $30,000 and a full size is $44,000. Where as a lease can run about $800 a month.
