Current Magical Beginnings promotion with Direct

[ocdb8r1]

Sorry if this has been discussed previously as I didn’t read through all pages, but for anyone who has done or is doing this, do you know if the check from Disney is reported as 1099 income?

I am wondering this as well. None of the documentation mentions issuance of a 1099 and it all explicitly refers to this as a "rebate" which leads me to believe (hope) that the answer is No. Anyone who has done this last year thought, would be great to get confirmation.

 

[Kidguile]

I have a June use year and was told if I add on at VDH, they would make it the same. If I do the Magical Beginning, Would I be able to borrow from the June 2024 use year and still be able to book for say Oct 2023 or Jan 2024? It’s been a while since I’ve borrowed points from the next use year. Thanks in advance!

 

[DianaMB333]

could you pls post (or re-post) the VGF direct prices with this promotion?
thanks!

 

[geargrinder]

I have a June use year and was told if I add on at VDH, they would make it the same. If I do the Magical Beginning, Would I be able to borrow from the June 2024 use year and still be able to book for day Oct 2023 or Jan 2024? It’s been a while since I’ve borrowed points from the next use year. Thanks in advance!

If you purchased now, Magical Beginnings would pay for the 2022 points. You'd get your 2023 points on June 1st.

 

[Kidguile]

I am wondering this as well. None of the documentation mentions issuance of a 1099 and it all explicitly refers to this as a "rebate" which leads me to believe (hope) that the answer is No. Anyone who has done this last year thought, would be great to get confirmation.

I emailed my guide asking about it. No reply yet but I would believe so.

Read the bottom of this post.

https://dvcfan.com/2021/12/01/dvc-relaunches-magical-beginnings-point-buyback-offer/?amp=1

 

[Kidguile]

If you purchased now, Magical Beginnings would pay for the 2022 points. You'd get your 2023 points on June 1st.

I don’t think this is the case as VDH opens late September. My guide said it would be the June 2023 use year points that they would be taking for the Magical Beginnings.

 

[geargrinder]

I don’t think this is the case as VDH opens late September. My guide said it would be the June 2023 use year points that they would be taking for the Magical Beginnings.

Then, yes, since you wouldn't get 2023 points, you'd be able to borrow from 2024 UY starting June 1st, 2023.

I am able to borrow from my 2023 points on my AKL contract I just sold the 2022 points to Magical Beginnings.

I don't see why it would be different.

 

[LittleBitGoofy]

could you pls post (or re-post) the VGF direct prices with this promotion?
thanks!

Here are the current incentive rates at VGF:
https://dvcnews.com/dvc-program/fin...idian-riviera-incentives-rise-for-spring-2023

Then if you're buying 150+ pts they will buyback the current UY for $22/pt. If your UY has already arrived for 2023 then they'll buy back the '23 points as your current, otherwise (like in the case of our UY being October) they will buyback the '22 points.

Buying 200 pts at VGF: $197/pt minus $22/pt with Magical Beginnings and you've got $175/pt direct at VGF.
Buying 150 pts at VGF: $207/pt minus $22/pt with MB and you're at $185/pt direct at VGF.

I've been told 150 pts is the floor/threshold for getting the MB buyback promo.

 

[ark101]

Then, yes, since you wouldn't get 2023 points, you'd be able to borrow from 2024 UY starting June 1st, 2023.

I am able to borrow from my 2023 points on my AKL contract I just sold the 2022 points to Magical Beginnings.

I don't see why it would be different.

Just to be clear, you can borrow your 2024 June UY points for any stay between June1st 2023 and June 2024. You don't have to wait till June 1st to borrow. The stay dates are what determines what year points you can borrow.

 

[Sandisw]

If you purchased now, Magical Beginnings would pay for the 2022 points. You'd get your 2023 points on June 1st.

Not for VDH. The first set of points are 2023 as the resort is opening this year.

 

[Lorilais_mommie]

Sorry if this has been discussed previously as I didn’t read through all pages, but for anyone who has done or is doing this, do you know if the check from Disney is reported as 1099 income?

Short answer No.

Our accountant said anytime we rent out points we have to report it as income. HOWEVER in this case bc it’s part of the agreement it would be viewed as part of the sale.
Like how when someone buys a house the seller gives them credit or cash to settle a defect.
Hence why they refer to it has a “rebate”

 

[RachStu]

Short answer No.

Our accountant said anytime we rent out points we have to report it as income. HOWEVER in this case bc it’s part of the agreement it would be viewed as part of the sale.
Like how when someone buys a house the seller gives them credit or cash to settle a defect.
Hence why they refer to it has a “rebate”

If that correct then I don’t understand why it’s not offered to international buyers. I thought it was for tax reasons.

 

[shreddedshoe]

So, I know there was at least one person if not a few on this thread who were awaiting Poly2 to buy direct, but because of the current buyback incentive, pulled the trigger on GF instead. I (we..hubby and I) am one of those people that was planning on potentially buying direct when Poly2 goes on sale, but I am debating buying now instead. Buying now was not on my radar until I heard about the current MB incentive. Financially, it would be a bit better for me to wait, but it’s not a deal breaker. I posted previously here about the costs of buying now vs waiting for Poly2 when costs, esp considering the current incentive, will undoubtedly be higher. However, I think my main consideration, aside from cost, and what is probably making me want to buy GF now over waiting for Poly2, is whether or not it will be in the same association. I don’t want to buy Poly2 if it is restricted, so this has me thinking that going with GF right now is the safer bet…not only would I get unrestricted points, but a pretty good incentive as well. However, if Disney were to announce right now that Poly2 will be a part of the current association, I would wait to buy there. Anyone else on the fence? FWIW, we already own resale at BCV and didn’t think we cared about direct/blue card, etc., until we did.

 

[PrincessKL]

So, I know there was at least one person if not a few on this thread who were awaiting Poly2 to buy direct, but because of the current buyback incentive, pulled the trigger on GF instead. I (we..hubby and I) am one of those people that was planning on potentially buying direct when Poly2 goes on sale, but I am debating buying now instead. Buying now was not on my radar until I heard about the current MB incentive. Financially, it would be a bit better for me to wait, but it’s not a deal breaker. I posted previously here about the costs of buying now vs waiting for Poly2 when costs, esp considering the current incentive, will undoubtedly be higher. However, I think my main consideration, aside from cost, and what is probably making me want to buy GF now over waiting for Poly2, is whether or not it will be in the same association. I don’t want to buy Poly2 if it is restricted, so this has me thinking that going with GF right now is the safer bet…not only would I get unrestricted points, but a pretty good incentive as well. However, if Disney were to announce right now that Poly2 will be a part of the current association, I would wait to buy there. Anyone else on the fence? FWIW, we already own resale at BCV and didn’t think we cared about direct/blue card, etc., until we did.

We are in the same boat! We want to wait for Poly 2, but now maybe we will just buy VGF. We are also considering RR, but we really want to be close to Magic Kingdom. Restricted points are not a big issue for us because we don’t plan to sell it and we are willing to take a loss if we have to sell some time in the future as we would have enjoyed the hotel stay for many years hopefully.

My concern is that the high price for Poly 2 together with the possible high point chart just doesn’t make the math work as well as before. We really want the blue card, so right now might be the best time for us because we have June use year. Who knows if DVC would increase the blue card minimum to 175 points if the point chart for Poly 2 is really high… The new FW cabins will definitely need more than 150 points per week, so maybe by then the increase wouldn’t sound unreasonable.

 

[shreddedshoe]

Aaaah, good point about the blue card minimum. That‘s something I hadn’t considered…that they could raise the minimum buy in again. That is definitely another factor that would sway me to buy now over waiting. But that is true too, that if the average week requires more than 150 points, then you’re going to need to buy more anyway, so increasing the minimum may not matter.

You make another good point as well regarding restricted points. While I say we don’t want restricted points, if we have no intention of selling…what’s the difference? If we did have to sell sometime down the road, like you said, you’ve had the opportunity to enjoy and get your use of it. Thank you…more to think about.

 

[dvchousley]

Thank you!

Our guide just called and said she got the Visa discount approved at 200 pts, but then it wasn't showing up on the order, so we're punting to tomorrow to try again since it was getting late today. Will share if it's a success or not.

Did the Visa discount come through for you today?

 

[LittleBitGoofy]

Did the Visa discount come through for you today?

As of yesterday afternoon I have been told the Visa discount was approved. We went through the payment info over the phone and was told it'd be out for signing. The numbers reflected the $1250 bonus discount.

Still waiting for the docs and I imagine with all the VDH sales the past few days and hearing of backups that it could be a day or two to see this in writing. I don't want to jinx myself, but it seems our Guide got it done. As soon as I have it in my hot little hands to sign I will update.

 

[LittleBitGoofy]

Anyone else on the fence? FWIW, we already own resale at BCV and didn’t think we cared about direct/blue card, etc., until we did.

We had just closed on our resale BCV (200 pts) on the same day as the news arrived for APs' return. We got a great deal on the resale contract and I'm glad we did it, but at the time there were no APs and of course, no AP discount for blue card so the pressure wasn't there for direct. I had just been doing the math on the ticket cost for all our trips to use up those points. APs would save us a lot. Sorcerer APs would save us even more. Sigh.

So we started considering accelerating our VGF plans since it was an active sale resort now for the one other resort we wanted and incentives don't seem to drastically improve over time (more likely the opposite). Doing the minimum of 150 pts for blue card gave way to the 200 pts because of the bend in the curve for the jump from 150 -> 200. All that snowballed into finding out about the MB $22/pt discount and then the potential Disney Visa discount (the equivalent of another $6/pt).

Since we had already planned out our '23 UY trips (resale contract was double pts for '23) we will rent out the '23 VGF points for another $18/pt reduction on our effective $/pt direct rate. In the end that works out to $151/pt. Direct VGF at $151/pt?? That's cheaper than most the ROFR thread reported VGF resales. I was fully off the fence at that #.

Now we're just waiting for the docs to arrive from DVD to sign for VGF and we'll have twice the points I planned, but FOMO is covered and, have mercy, I hope the need for more points is quieted for a few years.

 

[PrincessKL]

Now we're just waiting for the docs to arrive from DVD to sign for VGF and we'll have twice the points I planned, but FOMO is covered and, have mercy, I hope the need for more points is quieted for a few years.

That sounds awesome! I wish I can do this, but we will have to sell our BLT resale contract if we buy now for a direct contract for 150 points. This is what still prevents me from making the decision because I think it will sell better later when Poly 2 comes out as BLT will be newly renovated. I keep going back and forth and this is making me crazy!

 

[LittleBitGoofy]

That sounds awesome! I wish I can do this, but we will have to sell our BLT resale contract if we buy now for a direct contract for 150 points. This is what still prevents me from making the decision because I think it will sell better later when Poly 2 comes out as BLT will be newly renovated. I keep going back and forth and this is making me crazy!

I was definitely going crazy and agonizing over this decision. Would have been easier if we hadn't just just just bought a big chunk of BCV points resale. But then that stinkin 6 months no interest Disney Visa with the 30/60/90 split payment stretches it all out until early next year to pay off. Probably not the most responsible choice I've made. Ah well. At least we'll enjoy it!