Having Second Thoughts

[robind]

I just got my fed ex box today and I'm having second thoughts - especially after I saw the total price I was paying w/ the financing. I was planning on making several thousand dollar payments when my quarterly bonus come in, so that amount won't end up being so high if I pay it off early.

I'm a huge committment phobe and 50 years seems like a very long time. I'm afraid I made a rash decision after reading a lot of the recent treads about all the changes.

Anyone panic and back out and then regret it or on the flip side anyone not back out and wish they had.

 

[CarolAnnC]

I can understand how some people might have second thoughts. However, if you were making any large purchase, new car, home etc. you might balk at the final price including all financing charges as well. My theory is it's only money, and if I can afford it and want it enough, then I go for it!!

 

[flyerron]

My feelings as well. buyers remorse is common & most often fades with time. If you thought this through to begin with, then you probably made the right choice. The total amount is not as important as cash flow. Any financing over a period of time is an eye opener of financial obligations. Cash flow is king for big purchases.

 

[bnlbebes]

Another "commitment phobe" here!

That being said, we own points at BWV, HH, are in the process of purchasing timeshare at Harborside Atlantis, and are looking forward to GCV! The bottom line is do you have the funds to pay for the purchase and is it worthwhile to you. Don't worry about the recent dust-up over fees... They may prove to be inconsequential in your reservations in the long run. There will always be things to have doubts about, but try to see the positive aspects of the commitment past that. (I tried to return our latest SUV after I worried about the monthly payment for a few days. - Best vehicle we have ever owned and the payments have ended up fitting in our budget after all.)

Hope you are happy with whatever decision you may make.

 

[robind]

I did do the research and planning before I called back, I think it's just hit me - I had the same reaction when I bought my first (only) house, and I've been here almost eight years now and it all worked out fine.

Except now it's time to paint my bedroom and I have three sample colors on the wall and can't decide which one to go with - I am definately a libra Can't make a decision and when I finally do - I second guess myself.

 

[tiggerguy2000]

The only thing I can tell you is being a dvc member has been one of the best things I have ever did.I have 3 home resorts and 3 daughters who will profit from my purchase.my first intention was to give them each one when they get married and it still holds true.

tiggerguy

 

[I'mNoPrince]

With things I pay for that never get the use of DVC we had no problem. Also look at the resale market for DVC compaired to other time shares even if you don't do the entire time you could get a bunch of your money back.

 

[Disney-For-Life]

DVC, for us, is an investment in the quality of our future vacations and was a lifestyle decision. Yes, it can be a lot of money but you have to believe that the investment in your lifestyle (and quality of life) is worth it.

 

[DISNEY FIX]

Except now it's time to paint my bedroom and I have three sample colors on the wall and can't decide which one to go with - I am definately a libra Can't make a decision and when I finally do - I second guess myself.

Time to post a poll.

 

[groverdog]

I remember when we got our first box, when I saw it I was so excited I thought I would die and then the second thoughts set in. I powered through it and haven't looked back, DVC is one of the best things we have ever done.
Read this thread, it should help you some

http://www.disboards.com/showthread.php?t=1565606

I've said it before and I'll say it again - I LOVE MY DVC!!!

 

[global_mom]

We actually did back out of an add-on and then jumped back in 3 months later. We had purchased a HHI resale and then a SSR contract direct from Disney. We then decided that we needed some more SSR. We did the add-on direct with Disney and then my father became very ill as a result of a massive stroke. The financial obligations suddenly seemed overwhelming and we just stared at the papers in the box for days. We backed out and spent the summer helping my folks to get situated with my dad's illness. Once we got everyone settled we felt better and re-did our add-on just yesterday. I can not even tell you how happy we are!

It can be a matter of timing, but if you want DVC and you know that you will love DVC, then you will find your peace about it. The financing scared me too but the financing scares me everytime we buy a house (we renovate and sell) and the financing scared me to death when we bought an SUV last week, etc., etc. The rate for DVC is high so we will get that obligation knocked out over the next year since we get "chunks" of income from the sales of our houses.

Anyway, if you love it, do it!! You wont regret it!

PS: our guide was fabulous even when we backed out. He was so understanding and we never felt that we had done a "bad thing" by canceling the contract. Needless to say, we bought our add-on thru him yesterday and will continue to do so in the future.

 

[VrBchJ]

I did another 50 point add on at BWV last week. As soon as I started signing the paperwork I had a moment of horror and I thought, "What the heck am I doing adding on again?" So I signed the papers as fast as I could and sped to FedEx before I backed out. You are spending a lot of money so if you weren't somewhat concerned I'd be surprised.

 

[vandy]

Buyer's Remorse.....no. I would call it SHEER FRIGHT! Our initial purchase was not too bad since we paid mostly cash and financed part through our home-equity line.

Our add-on was different though! This one we financed and when the box came, I started wondering what in the hooey I was doing! Now I've added more MFs because of this! I could have gotten by with our intitial purchase! Why would I add-on??? Then a more sane personality takes over and I remind myself that I ran all of the numbers and everything will be OK.

So if you ran all of your numbers, and you were comfortable with the results, then you shouldn't worry too much and trust in your decision. As stated, it is common to have such a reaction to any large purchase. I am sure you will be over it soon, and if not, you should be after your first DVC vacation. Best wishes!

 

[jarestel]

I'm a huge committment phobe and 50 years seems like a very long time. I'm afraid I made a rash decision after reading a lot of the recent treads about all the changes.

A fairly large percentage of folks won't ever own DVC for anywhere close to 50 years anyway. Selling DVC is fairly quick and painless so you can take some comfort in that as an "escape hatch" should you decide you want out later on.

On the other hand, if your "little voice" that's suggesting you bail now before signing on the dotted line has a fairly reliable history of offering wise advice, I would listen. Of course if your "little voice" is usually wrong, I'd just tell it to shut up and go for it!

Good luck!

 

[RosiePosie35]

RosiPosies35 DH is adding his .02 worth.

I had the same feelings when we purchased last weekend. groverdog even posted a link to my thread in this topic. One thing I will do is just refinance the loan with a home equity type loan to get a lower rate. Paying more than the the monthly payment will help as well. The one thought that put it into perspective for me was we were going to Disney anyway. Cramming five people in POR doesn't work anymore when the kids get bigger. Another way of looking at it is if you purchased say a new Harley (insert your toy here) you would be paying the same amount or more. The Harley might not last 50 years either.

Can't wait for my first trip home.......

 

[AKV707]

As has been said, buyer's remorse happens to all of us. As you said, you are planning to make additional principal payments. There is no pre payment penalty with DVC. Even adding small additional principal payments each month will shorten the loan. The other nice thing is that DVC does not report the loan to credit agencies.

Think of the magical DVC vacations in your future. I am sure, as we did, that you really considered this purchase, decided how many points you will need and went ahead.

Go for it, you won't regret it!

 

[robind]

I was talking to my usual 'traveling' companions, telling them how the villa's worked and they seemed pretty excited. I ususally go with my aunt and uncle, one of their daughters, her husband and their 2 kids. We have done 2 rooms and PoP and while we had a great time, the extra room is going to be a great help. They've rented beach houses before so they are used to staying where they don't have maid service every day and can cook some of their own meals, etc, so I think they will like the villa's.

My plan is to try for a 2 bedroom or grand villa every other year and have them just pay for the annual dues when we go - and their own food and tickets. Will still be cheaper for them, then the room and tickets at PoP.

There youngest LOVES animals, so I can't wait to go to AKV with him. We had to literally carry him away crying from the animal viewing area's to Boma for dinner.

Now, what to do with those Developer Points?????

 

[edk35]

We purchased 300 pts. in Jan. of this year...we did three 100 pt. contracts at SSR and in the bigger scheme of things...we did it this way for our three kids. Of course after it was said and done.....I think I did have a few moments thinking "WOW should we have done that?" It is a little scary but we almost bought in back in 93 and have regretted it ever since. I look at all the money we blow each year and as far as I am concerned this is money well spent....VERY WELL SPENT. I am thrilled we did it.