*** Mb????****

[wheeler]

What the heck is "MB" and what did I miss out on by buying VWL in July? What did I miss?

 

[dianeschlicht]

Magic Beginings is the program where DVC buys back your points for the current year when you purchase for $10 per point. This means you will not receive points for about 7 months when your new points are added at your use year anniversary. It also means you get $10 per point off on the price, so it is like a big down payment.

For example:
a $200 contract would have $2000 taken off the price, but you would not get the current years points.

 

[drusba]

Magical beginnings. The program under which Disney buys back first year's points from a purchaser and applies amount to down payment. In July, the MB at VWL was $5 a point; now it is $10. If you did not use MB, you really did not miss out on anything. At $5 a point it was a bad deal because you could purchase and then rent those first year's points for $10 a point. At $10 a point it is OK, but many do not want to give up those first year's points and thus do not use it.

 

[wheeler]

sorry.......
Could you explain it to me as if I were 8 years old? I just don't "get it". I bought points. I have 2 trips booked on these points. One this Nov., and one next April. Am I even eligible for this "promotion", and if I am, how does it benefit me? I'm sorry to sound so stupid, but I'm still a "newbie" and very confused!!!!!!

 

[dianeschlicht]

It does not apply to points you have already purchased, but would apply if you purchased an add-on.

 

[drusba]

It relates only to when you actually purchase the points (and your real estate interest in the resort) from Disney. A new purchaser, to effectively lower his sale price from $75 a point to $65 can buy at VWL under the MB program and as part of that purchase Disney takes back the first year's allotment of points for $10 a point and that amount is applied to the down payment. You thus effectively get a lower cash price but you give up your initial allotment of points and have to wait until about 7 months after the purchase for your second year's allotment. It is a fair deal at $10 a point but not a "bargain" and not necessarily what a new purchaser wants to do because many want to keep and immediately use those first year's points. It sounds as if you purchased and kept and are now using your first year's points. By doing so you did not miss out on any bargain as you kept and can use your first year's allotement of points. The MB program is mainly a benefit for those who need help in coming up with a 20% down payment when they purchase. If you can pay 20% down, it is not needed.

Note, if you later add on points (100 or more at VWL) you can also use it for that add on purchase.

 

[going2wdw]

I talked to our guide yesterday. If we add / purchase 200 points at $75 each Disney will buy back one years points at $10. Reducing the price by $2000. April use year is available right now so we would lose the use of this years 200 points but have the 2002 allotment in April 2002.

She also mentioned that although the max you can use MB for is 200 you can add mulitple packages and use MB on each. So if you wanted 300 points you could split it into 150 contracts and use the MB on each.

Now I just have to get the okay from DH , she said April use year would not be offered after this week.

 

[stlrod]

The MB program is mainly a benefit for those who need help in coming up with a 20% down payment when they purchase

No offense, but not true. It depends on each individual's planned use. I didn't need help coming up with a 20% down payment (in fact, my cash outlay w/o MB was 20%). I saved money by using MB. With the codes, I booked 2BR Villas at VWL for $7.52 per point and at BWV for $8.60 per point (over Xmas too.) I'm getting $13 per point off at HH and getting my full point allottment of 165 points on 3/1/02. It would have been financially stupid of me to use points for the Xmas trip under these circumstances (to get the 240 points I would need for 12/23-12/28, I would have had to borrow 75 points.) And as I pointed out in another thread (rather crassly actually), we get daily housekeeping over Xmas which I would not have gotten if I used points. I do agree that for the offering at VWL in July, it would not have been wise to use MB unless you needed it or if you did not want to bank the points or rent them on your own.