Disney Vacation Club is arguably the most reputable and sought after timeshare program on the market today. In fact, the Disney timeshare division has become amongst the highest rated in the world and also has the most robust resale markets in the whole of the industry.
However, in 2016, Disney announced they would no longer honour the full membership perks and privileges available to members who buy through the resale market. The resale market was one of the most appealing aspects of the Disney Timeshare, as owners could almost guarantee that if they decided to sell their membership, they would almost certainly get back the value of what they originally paid for their investment.
After 2016, members who purchased through the resale market, no longer had access to cruise ship tickets, discounts at Disney stores and Theme parks, access to special events and various other benefits.
From January 19 this year, Disney decided to crack down further on the resale market, announcing that memberships purchased through resale would only have access to the current 14 DVC resorts and they would be excluded from using any new developments under the DVC umbrella.
Disney made he announcement in early January stating: “Effective January 19, 2019, only members who purchase directly from Disney will be able to use their Vacation Points at the 14 existing Disney Vacation Club Resorts or future resorts – such as Disney’s Riviera Resort or Reflections – A Disney Lakeside Lodge. Resale contracts purchased for the existing 14 Disney Vacation Club Resorts will only be able to exchange points into those 14 resorts.
This change does not apply to contracts purchased prior to January 19, 2019. Contracts gifted to family members will continue to have the same resort access as before the ownership transfer. The eligibility rules for membership extras and RCI access remain unchanged.”
Those who buy direct from Disney won’t be affected, however, the new restrictions will surely reduce the resale value of a DVC membership. It could have a detrimental effect on those who have purchased through a resale agent as the value could lower significantly. Members may find it difficult to sell their memberships for anything close to what they paid for them and they could be left with considerable debt.
People who enter into Timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the Timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of Timeshare owners and offer fake products, along with Timeshare exit schemes. Before agreeing to any Timeshare termination or exit procedure with an individual or company, seek independent advice and fully research any company you are thinking of working with.
It is also important to remember that purchasing a Timeshare should NEVER be viewed as a financial investment. Timeshare is an investment in lifestyle, in future holidays and family time together. There is almost no resale value to a Timeshare.
The mis-selling of holiday products is, unfortunately, common practice within the holiday industry and these type of crimes often go unreported by the most vulnerable in our society and criminal convictions are few and far between.
If you have purchased a Lifestyle / Concierge Service, a Timeshare or a ‘Holiday Points’ based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible Money Back Claim.
